Business Simulation Competition 2021

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Are you up for a virtual challenge? Do you have an affinity for business? If you do, this 3 round online business simulation competition is for you!

NIBS is offering this competition in partnership with leading simulation company EcoSim. Participation is not limited to NIBS members, the competition is open to anyone (students, graduates, professionals), although economic or business background might be advantageous.

TEAMS

Your team is set the challenge of running a tech company that manufactures and sells smartphones, tablets and notebooks in the SmartSim simulation. Please click through for the links for the manual and description.

Teams are made of 2-4 people and there is no limit to the number of teams who can enter from a university, providing a registration fee is paid for each team. Each university will be responsible for the formation of their own team/s.

TIMING

Registration and application fee deadline: 8th November
Online Test Round (1 round = 2 decision-making cycles): 9th – 11th November
Online Regional Qualifier Round (2 rounds = 4 decision-making cycles): 12th – 25th November
Online Semi-final Round: 30th NovemberOnline Final Round: 9th December

PRIZES

1st place prize: 4% of the total entry fee in cash + 3% of the total entry fee for charity*1-year EcoSim Pro simulation license for the university

2nd place prize: 2% of the total entry fee in cash + 2% of the total entry fee for charity*1-year EcoSim Pro simulation license for the university

3rd place prize: 1% of the total entry fee in cash + 1% of the total entry fee for charity*1-year EcoSim Pro simulation license for the university·

Prizes for the other finalist teams: 1% of the total entry fee in cash1-year EcoSim Pro simulation license for the university*

The top 3 teams can choose an NGO, where we donate 3%-2%-1% of the total entry fee.

STUDENT CREDIT

The Business Simulation competition is a wonderful opportunity to include experiential learning into the curricula. As this year’s competition will be a pilot to gather experience and feedback we would expect to have the credits given as extra-curricula performance. In the future, it is our aim to have the competition also included into the actual curricula.

The simulation also provides an opportunity for customization to your own programme (see additional credits). We suggest awarding the students with the following credit scheme.

  • 1ECTS credit: Simulation game: Team building, kick-off meeting, playing test round and playing qualification round (altogether 6 turns of simulation).
  • 2 ECTS credits: Simulation game + add-on assignments (best practices examples will be offered by the game organisers) like strategy building, game analysis and personal development reflection.
  • + Additional credits: Additional credits can be awarded based on:
      1. when teams succeed to advance to the semi-finals and finals of the competition, they can be awarded additional credits. This is of course within every NIBS partner university’s discretion.
      2. additional credits could also be awarded based on additional related assignments based on specific topics like finance, marketing, management to fit your programme needs. Your students can earn additional credits by, for example, do an in-depth financial analysis, or do an extensive competitor analysis

REGISTRATION

Please note registration is a two-step process.

1) Payment of fees, if you are paying by credit card please pay via the NIBS website, please ensure you select the NIBS Member discounted price of €80 for the Business Simulation Competition if you are a NIBS member, you will be sent a receipt on payment. If you need an invoice raising to pay by bank transfer please email newsletter@nibsweb.org. Please ensure you pay a registration fee for each team entered.

NIBS Member rate: €80

Non-NIBS Member rate: €120

2) Registration of teams via the EcoSim website, each team will need a lead coordinator who should register first via nibs.ecosim.hu once registered they will then be able to invite teammates to register. Deadline:  8 November 2021, midnight Central European Time, please note this is a strict deadline as play will commence the following day.

If you have any questions regarding the registration or competition, please send an e-mail to ibsc@ecosim.hu.

Information sessions: here is a recording of the information session held 21 Oct 2021 outling the competition and answering some questions.

Competitions now open for registration

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