As a part of this course we had to form teams and participate in an online venture simulation game. Before sharing my experience with the game I would like to explain it a bit.
There are two parallel worlds in the game, each having six teams. The teams in one world compete with each other. Also we were asked to form a team having some amount of diversity (gender and geographic). I think this was really nice as it ensured that we interacted and worked with different people and not just stick with our friends.
There were a total of seven quarters (with the last one being the final presentation). With each quarter we were able to broaden our venture i.e include more brands, more products, have more and more sales offices, increase the sales force, include R&D and improvise our products. One thing that my team sort of struggled throughout was designing good ads and where exactly to place these ads. Each quarter we tried to improve it and hence made a lot of modifications.
Some of the things I liked about the simulation was that it allowed us to review our product and the competitors brand every quarter. This helped us in great deal to learn from our mistakes and improve. Also it gave a sort of insight into how everything works starting from the geographic location we wanted to launch the product, to the kind of sales we wanted or the R&D we wanted to invest in.