SmartSim - Strategy & Branding

In the game, you must manage a virtual tech company. The company manufactures and sells 3 different products: phone, tablet, laptop. Production requires adequately staffed and compensated personnel, as well as raw materials and machinery.

The manufactured goods are sold through retail channels with the help of sales representatives. In addition, companies naturally must maintain good communication with actual consumers. In the field of marketing, decisions must be made regarding the amount spent on advertising and the price. Players must also manage the company's finances well to maintain liquidity and profitability. The updated SmartSim version also includes more detailed financial statements and charts.

How the SmartSim simulation software works in brief:

  • Students form teams to take over the management of the virtual company modeled by the software.
  • They manage the virtual company by making strategic decisions for quarterly periods. The software provides a written report on the results of the decisions, and in addition, the program illustrates the main indicators (profit, cash flow, turnover…) on a graph.
  • The software settings are widely adjustable for demand, purchase prices, wage flexibility, credit conditions, and many other factors.
  • The software can model up to 12 periods.

Benefits and learning points of the game:

  • The program also illustrates a basic economic activity, the operation of a manufacturing company, capturing the most important strategic points arising from the management of the company.
  • The program is sufficiently complex to synthesize the knowledge of fifth-year students nearing the end of their studies and put it into practice.
  • Since it models the operation of a larger economic entity, the game conveys the competitive situation which - just like in real life - the players in the economic sphere can influence themselves.
  • Planning is essential for successful operation. It is not only necessary to pay attention to finances and inventories, but also to ensure the availability of all components required for production and sales at the right time and in the right quantity (production management).
  • Because participants need to extract the relevant data from various financial and commercial reports (balance sheet, income statement, cash flow, market research report), the game significantly tests and develops analytical skills.
  • As a result of the above, the effective implementation of teamwork, which is so important in real life, is essential for successful participation in the game.

Our References:

  • University of Miskolc, Faculty of Economics
  • University of Szeged, Faculty of Economics and Business Administration
  • Budapest University of Economic Sciences, Department of Management and Organization
  • Budapest Business School - College of International Management and Business
  • Sapientia Hungarian University of Transylvania
  • Atalanta Business Vocational High School
  • Bethlen Gábor Vocational High School of Transport and Economics, Budapest
  • Bródy Imre High School and Vocational High School, Ajka
  • Kada Elek Vocational High School of Economics, Kecskemét
  • Kossuth Zsuzsanna Vocational High School of Engineering, Hódmezővásárhely
  • Kőszeg Vocational High School of Agriculture and Trade
  • Radnóti Miklós Vocational High School of Economics, Pécs