How do I use Capitalism Lab in training?

[mdemircan2]

How do I use Capitalism Lab in training?

My students consist of two groups: university students (faculty of business administration, faculty of engineering) and company personnel.

The main service I provide to these companies is Finance and Management Consultancy.

I use Capitalism Lab with the personnel of the companies I work with. Our aim is to improve the company's abilities in financial/production/sales marketing/growth management. I recommend that our participants purchase Capitalism Lab, but I do not follow up afterward.

I have met with some universities (faculties of business administration and engineering) to use Capitalism Lab as an auxiliary tool in the relevant courses, made presentations, but they found the financial infrastructure weak and the production management part too simple, so the universities I met with did not accept the project. My competitors for Capitalism Lab in my country are CAPSIM and CESIM simulations.

My general lesson plan is as follows: I plan in 3 stages over 8 lessons.

1st stage: Theoretical lessons (3 lessons; financial management, production management, macroeconomics)

2nd stage: Teaching the use of C.Lab (3 lessons; opening a store, manufacturing, R&D, bank...)

3rd stage: Playing at least 3 of the existing scenarios and making a presentation. Participants present their presentations in class. After the training, I administer an evaluation survey to the participants.


Concept - Network of Relationships:

When the connections and co-occurrences in the concept network are examined, product, brand, production, company, market, financial status, and strategies come to the forefront within the simulation.

Looking at it in detail, an experiential network divided into a total of 13 clusters is observed. Cluster number nine discusses supply and demand in the market. Cluster number ten covers bank debts, cluster number twelve research and development, and cluster number five focuses on the simulation's connection to reality, real life, real situations, and real-life topics. When cluster number six is examined, the topic of gaining experience, and in cluster number thirteen, experience related to bank credit limits is noticeable. Looking at larger clusters, the processes related to the product are seen in cluster number three. Here, it can be said that there is a strong connection between product, brand, production, sales, and quality. In the experiential process, experiences related to both consumer and customer loyalty and brand awareness regarding the product's brand are observed. It is even noted that the word "service" is connected to the word "customer." Again, in cluster number three, experiences related to sales show that stores are opened at various levels, considering the city population for these stores, and that there is mention of an increasing and growing population. Looking at production-related experiences, it is noted that a factory is established and that a raw material supply process is entered for this production, and even raw material production is undertaken. It is also noticeable that many users initiate product production and establish factories when starting the simulation. Cluster number three connects to cluster number one through the current market.

In cluster number one, it is noticeable that business share and market share are combined in the same structure. In the concept of business/market share, stock price and stock trading activities, as well as commercial activities related to these, are observed, and experiences related to financial transactions are noticed.

Following the financial transactions, very detailed processes and experiences have emerged. Dividend distribution number and the company's book value, the effect of this value's ratio on dividend distribution, the return of the investment made, capital, annual earnings, and again, dividend distributions are clearly observed. Additionally, when returning to the concept of business within this cluster, it is seen that cost leadership and low-cost concepts and competitive strategies are implemented. Experiences related to differentiation strategy focusing and target sector determination are identified. Finally, it is determined that cluster number one is connected to cluster number two through the concept of profit share. In cluster number two, financial statements are noticeable. The impact of shareholders on capital and its connection to business assets, and accordingly, the business's liabilities are clearly seen. As sales increase, profit increases, and accordingly, the impact of business expenses on this profit is also among the experiences in cluster number two. As a result, when the visualized co-occurrence network regarding the experiences and applied concepts related to the simulation application is examined, it can be said that cluster number one reflects experiences and concepts related to Business Management and Strategic Management, cluster number two Financial Management and Accounting, and cluster number three Production and Marketing.

[David]

Thank you for sharing your teaching method.