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FAQs VB Pro India Drucker Certificate, June 14th – December 17th

(Please review Virtual Business - Professional for Executives/Corporations and query FAQs Virtual Business Professional and Professional Certificates along with this document. Please contact bizdev2@precisedonline.com for further exploration.)
How much does the India Drucker Program Certificate cost?

The cost of the program is INR 60,000.00 if paid upfront. Or it is INR 66,000.00 if paid in installments.

What are the start and end dates for the India Drucker Certificate Program

The program starts on June 14th, 2021 and ends on December 17th, 2021.

What is the 6-Month schedule for the India Drucker Program?

The 6-Month schedule is as follows. The final schedule might be tweaked by the instructor to accommodate special extenuating circumstances. The instructor will also impose deadlines for the completion of activities to keep the group’s pace synchronized. This schedule comprises completing the online VB Pro Simulation and a Virtual Project.

6-Month Schedule India Drucker Certificate Program

What is the nature of projects that will be conducted in this program?

The projects for this program will be conducted virtually. Each Virtual Project will be conducted in teams of 5 individuals and will entail developing a business plan wherein issues in all relevant functional areas will be addressed. The Virtual Projects will provide an opportunity to network and learn from one another as well as the Instructor.

Why did PrecisED, Inc. forge a relationship with Drucker School of Management?

VB Pro imparts learning in a holistic and cross-functional manner. It emphasizes that all functions of organizations are critical, just like all organs are of a body. VB Pro’s philosophy matches Drucker’s philosophy on Management.

What is the Drucker School of Management?

Druker School of Management is one of the schools of Claremont Graduate University, which is part of the prestigious Claremont Colleges.

Who is the instructor for this India Drucker Program, June 14th – December 17th?

The instructor is Mr. Pradeep Mehra. Mr. Mehra is currently a top-notch teacher of various Strategy, Managerial Accounting, Entrepreneurship and related courses at the undergraduate and graduate levels. He has three and half decades of corporate experience with over two decades at CEO, CFO and Board levels. He was one of the top students at IIT and IIM.

Current Positions:

  • Full Professor with designation of Professor of Practice, School of Management and Entrepreneurship, Shiv Nadar University, NOIDA, India.
  • Member, Board of Directors of Atal Incubation Centre, supported by Atal Innovation Mission, Niti Aayog

Education

  • MBA, Indian Institute of Management, Calcutta.
  • B.Tech, Indian Institute of Technology, Delhi.
  • Certified Cost Accountant, Institute of Cost Accountants of India.

His full profile can be seen at https://www.linkedin.com/in/pradeep-mehra-6191722

What does the certificate from Drucker look like?

An image of a certificate from Drucker School of Management, Claremont Graduate University is shown below.

How long does it take to complete the requirements for the certificate?

The certificate requires 6 months to complete.

What is the fee structure for the course? Is it paid up before start or in installments?

In situations where payments are being made by individuals, bank loans or payments in installments is possible. The installment plan comprises the following amounts. 5% at the time of registration, five 15% payments at the beginning of each month and a final 20% at the beginning of the 6th month. Installment payments imply 10% more than an upfront payment.

What happens if a participant is unable to complete the entire course for any reason?

If, for some reason, a participant cannot pay after registering, the following remedies are available. Certificates will be provided only after total payment and completion of projects and VB Pro Simulation.

PaidInability to Pay AmountRemedies
Registration Fee5% - INR 3,300N/A
Beginning of Simulation15% - INR 9,900Apply Registration Fee for another offering
Beginning of Month 215% - INR 9,900Eligible to continue with the next cohort or
Beginning of Month 315% - INR 9,900Eligible to continue with the next cohort or individually. Full paid amount carried forward.
Beginning of Month 415% - INR 9,900Complete Project with the team. Complete VB Pro Simulation whenever payments can be made.
Beginning of Month 515% - INR 9,900Complete Project with the team. Complete VB Pro Simulation whenever payments can be made.
Beginning of Month 620% - INR 13,200Complete Project with the team. Complete VB Pro Simulation whenever payments can be made.

6-Month Schedule for VB Pro India Drucker Certificate, June 14th – December 17th with Projects

(This document is to be read in conjunction with Virtual Business - Professional for Executives/Corporations. Please contact bizdev2@precisedonline.com for further exploration.)
India Drucker VB Pro Certificate Program will be executed with a project. You could be participating in an in-company program or an open-enrollment program. The topic of the project will be determined on a program-by-program basis by the participants and the instructor.
Typically, projects will be conducted in teams of 5 individuals and will require about 20 hours of work off-line.
In the 6-month schedule shown below, besides the introductory project selection meeting, two formal presentations of projects, one at the time when the Problem Definition is complete and one at the end as a final "Defense," are shown. Each presentation will be about 15-20 minutes. All participants are expected to attend these 2 project presentation sessions to provide their feedback to the presenters.
The schedule-table below shows the Simulation Stories (SS), Learning Concepts (LCs), TYKs,DMQs, and UUUs of VB Pro that you have to complete on your own. The yellow highlighted sessions imply Virtual Meetings of all participants and the instructor. There are 7 such virtual meetings for VB Pro, one at the beginning of the program and one after each of the 6 stages in VB Pro. Projects require 3 additional meetings. There is one feedback meeting in the middle of the course.
The schedule will be adjusted by the instructor to accommodate extenuating circumstances.
There are 93 Learning Concepts (LCs), 78 sets of Test Your Knowledge (TYKs) with 604 quiz questions in all, 100 Decision Making Questions (DMQs), and 11 Unforeseeable, Unpredictable or Uncontrollable Events (UUU) in the VB Pro simulation. They all have to be completed individually. The schedule is for 6 months, 3 sessions/week of approximately 2 hours/session. Most participants will find some sessions easier or harder than others because of their background. So, variability in the time required to finish the content of a session is expected. Expiry dates will be set by the supervisor of the program to keep everyone on track.
WeekWeek No.Session No.Content
16/14/202111

Meet & Greet: Dr. Rajiv Grover and the Instructor.

Q & A: Workings of VB Professional and Program.

Begin the simulation:

  1. Go to www.precisedonline.com
  2. Review the Student Manual and the Video under the Demo tab
  3. Login with your userid and password provided
  4. Click on "Courses" on the left navigation bar
  5. Click on "VB Pro-Corps"
  6. View Videos
    1. VB Pro: Raison d'etre and Philosophic Underpinnings
    2. Overview of Drucker Management Philosophy
    3. Drucker on, "Customer Obsession"
  7. Click on SS - You, the City, and the Gourmet Burger Business in the Table of Contents
26/14/202112

SS - You, the City and the Gourmet Burger Business

SS - Your Strengths and Weaknesses

LC - Resources, Capabilities and Core Competencies

1 TYK 1.1 (6 Questions) - Resources, Capabilities and Core Competencies

SS - Competition in the City

LC - Competitive and Environmental Analyses

2 TYK 1.2 (5 Questions) - Competitive and Environmental Analyses

36/14/202113

SS - Types of Potential Customers in Simile

LC - Market Segmentation and Target Market

3 TYK 1.3 (6 Questions) - Market Segmentation and Target Market

SS - Beyond the Burger: Price, Location and Image

LC - Marketing Mix

4 TYK 1.4 (6 Questions) - Marketing Mix

LC - Positioning

5 TYK 1.5 (6 Questions) – Positioning

SS - Who Will Buy and Why?

6 TYK 1.6 (5 Questions) - Value Proposition

46/21/202121

SS - Estimating the Cost of a Cheeseburger

LC - Variable and Fixed Cost

SS - How Many Need to be Sold to Make Profit?

LC - Breakeven Analysis

7 TYK 1.7 (12 Questions) - Breakeven Analysis and Spreadsheet Modelling.

56/21/202122

SS - Final Decisions: Location, Pricing, Service and Target Market

1 DMQ 1.1 - Location Decision

AI Input - Pros and Cons of Location Decision

LC - Pricing

2 DMQ 1.2 - Market Research Purchase Decision

3 DMQ 1.3 - Price Decision

AI Input - Pros and Cons of Price Decision

4 DMQ 1.4 - Service Concept Decision

5 DMQ 1.5 - Target Market Decision

8 TYK 1.8 (8 Questions) - Pricing

Feedback on Your Decisions

1 UUU 1.1 - Unforeseen Potential Environmental Changes – Zoning

Finish Stage 1

66/21/202123

2nd Discussion with Instructor

76/28/202131

Begin Stage 2

Stage 2 Video Drucker on, "Economic Benefits"

SS - Opening Day - Promotion and Cost Figures

6 DMQ 2.1 - Opening Day Banner Promotion Decision

7 DMQ 2.2 - Accounting Approach Decision

LC - Direct and Indirect Costs

9 TYK 2.1 (3 Questions) - Direct and Indirect Costs

SS - Final Breakeven Quantity

2 UUU 2.1 Unpredictable Reactions - Influential Accounting Expert

SS - Beginning to Keep the Books and Accounting

8 DMQ 2.3 - Delivery and Take-out Pricing

9 DMQ 2.4 - Delivery Orders Pricing

LC - Main Accounting Equation

10 TYK 2.2 (3 Questions) - Main Accounting Equation

86/28/202132

SS - Opening Day - Purchases and Analysis

LC - Revenue and Expense Reporting - Cash vs. Accrual Basis

11 TYK 2.3 (2 Questions) - Accrual vs Cash Basis

LC - Gross Profit

12 TYK 2.4 (3 Questions) - Gross Profit

SS - Day 1 Profit and Loss Statement and Cash Account

LC - Bank Reconciliation

13 TYK 2.5 (2 Questions) - Bank Reconciliation

96/28/202133

SS - Sales Tax

LC - Sales Tax Payable

14 TYK 2.6 (2 Questions) - Analyzing Day 1

SS - Analyzing Day 1 and The Purchasing System

SS - Ordering and Analyzing Day 2 - Auto Expenses and Accounts Payable

LC - Accounts Payable

SS - Ordering and Analyzing Day 3

3 UUU 2.2 - Unforeseen Synergies - Reporter Visit and Opening Day Banner Decision

SS - Ordering and Analyzing Day 4 - Employee Wages

SS - Ordering and Analyzing Day 5 - Unearned Revenue

LC - Unearned (Deferred) Revenue

SS - Ordering and Analyzing Day 6 - 8

AI Input - Pros and Cons of Cash vs. Accrual Basis Accounting

107/5/202141

LC - Financial Statements

15 TYK 2.7 (4 Questions) - Liabilities

16 TYK 2.8 (9 Questions) - Financial Statements

SS - Data-driven Sales Forecast

10 DMQ 2.5 - Choice of Promotion Type - Couponing, Advertising or WOM

SS - Ordering and Analyzing Day 9 - 11 - Employee Salary

LC - Payroll Liabilities

17 TYK 2.9 (3 Questions) - Payroll Liabilities

117/5/202142

SS - Ordering & Analyzing Day 12 - 30

11 DMQ 2.6 - Degree of Promotion Decision

12 DMQ 2.7 - Ripe Tomatoes Decision

AI Input - Pros and Cons of Ripe Tomatoes Decision

4 UUU 2.3 - Probabilistic Consequences of Risk-taking - Ripe Tomatoes Decision

13 DMQ 2.8 - Server Uniform Decision

AI Input - Pros and Cons of Server Uniform Decision

14 DMQ 2.9 - Heirloom Tomatoes Decision

15 DMQ 2.10 - Customer Satisfaction Trade-Off Decision

5 UUU 2.4 - Probabilistic Consequences of Risk-taking - Customer Satisfaction Trade–off Decision

Closure to Stage 2

Finish Stage 2

127/5/202143

3rd Discussion with Instructor

137/12/202151

Participants provide Feedback

147/12/202152

Begin Stage 3

Stage 3 Video Drucker on, "Evidence-based Decision Making"

SS - The First 30 Days, Menu Expansion and Brand Image

LC - Brand Management

18 TYK 3.1 (6 Questions) - Brand Management

SS - To Research or Not and How

16 DMQ 3.1 - Research for Brand Image

17 DMQ 3.2 - Which Brand Image Would You Choose?

157/12/202153

LC - Research Methods

19 TYK 3.2 (9 Questions) - Qualitative Techniques

SS - Brand Image Research & Menu

18 DMQ 3.3 - Brand Image Research Methodology

167/19/202161

SS - Two Months after Opening

20 TYK 3.3 (15 Questions) - Month 2 Financial Statements

SS - Three Months after Opening

21 TYK 3.4 (9 Questions) - Quarter 1 Financial Statements

177/19/202162

SS - 6 Months after Opening

22 TYK 3.5 (21 Questions) - Quarter 2 Financial Statements

187/19/202163

SS - Competition, Patenting and Promotions

19 – 22 DMQ 3.4 - 3.7 - Engaging in Promotional Activities

23 – 26 DMQ 3.8 - 3.11 - Engaging in Promotions

SS - 6-9 Months After Opening

LC - Interviewing

23 TYK 3.6 (6 Questions) - Interviewing

SS - 9-12 Months

27 DMQ 3.12 - Pay Attorney for Restrictive Covenants Contract

LC - Restrictive Covenants and Trade Secrets

6 UUU 3.1 - Luck of the Draw - Susie's Finance Skills

24 TYK 3.7 (4 Questions) - Restrictive Covenants

197/26/202171

SS - Concept for Another Restaurant

28 DMQ 3.13 - Research the Service Hypothesis

LC - Experimental Methods for Research

LC - Survey Methods for Research

SS - Research to Test Multiple-Servers & Eye-Contact Concepts

29 DMQ 3.14 - Methodology for Testing Multiple-Servers & Eye Contact Concepts

207/26/202172

SS - Motivating Learning for Data Analytics

LC - Data Analytics

25 TYK 3.8 (38 Questions) - Data Analytics

217/26/202173

26 TYK 3.9 (25 Questions) – Experimental data

228/2/202181

SS - Insights from the Experiment

SS - Survey for Assessing Attitudes Toward Social Media and Technology

30 – 37 DMQ 3.15 - 3.22 - Survey Data

SS - Insights from the Survey

7 UUU 3.2 - Unpredictable Bias - VC and Stats Skills

Finish Stage 3

238/2/202182

4th Discussion with Instructor

248/2/202183

PROJECT IN TEAMS OF 5: PROBLEM SELECTION AND PROBLEM STATEMENT DEVELOPMENT

258/9/202191

Begin Stage 4

Stage 4 Video Ducker on, "Managing and Developing Employees"

SS - New Restaurants New Funders

38 DMQ 4.1 - BH Chain or HB Chain

LC - Organizational Forms

27 TYK 4.1 (6 Questions) - Organizational Forms

SS - Org Form & Type of Financing

39 DMQ 4.2 - To C-Corp or Not

LC - The Delaware C-Corp

LC - Time Value of Money

28 TYK 4.2 (7 Questions) - Time Value of Money

268/9/202192

LC - Debt vs. Equity Financing

29 TYK 4.3 (4 Questions) – Debt vs. Equity Financing

SS - VC Interaction & a Loan

40 DMQ 4.3 - To Meet or Not to Meet Other VCs

LC - Employment Law

30 TYK 4.4 (6 Questions) – Employment Law

278/9/202193

SS - Quick Success & Simple Digital Savvy

LC - SEO

31 TYK 4.5 (10 Questions) – SEO

LC - Social Media Engagement

32 TYK 4.6 (10 Questions) - Social Media

288/16/2021101

SS - Motivating Employees & Setting the Culture

41 DMQ 4.4 - Tip Policy

LC - Motivating Employees

33 TYK 4.7 (6 Questions) - Motivating Employees

42 DMQ 4.5 - Views of Workers Theory X or Y

8 UUU 4.1 - Unpredictable Reaction - Workers to Tip Policy Decision

LC - Job Description and Performance Evaluation

34 TYK 4.8 (6 Questions) - Job Description and Performance Evaluation

LC - Organizational Culture

35 TYK 4.9 (6 Questions) - Organizational Culture

43 DMQ 4.6 - Organizational Involvement in Culture Development

44 DMQ 4.7 - Type of Servers Hired

298/16/2021102

SS - Growth and Convertible Debt

9 UUU 4.2 - Did your Decision to Involve the Organization in Developing a Culture turn out to be fruitful?

LC - Financing Your Business

SS - Negotiations and Series A

45 DMQ 4.8 - To Negotiate or Not with Sageio

46 DMQ 4.9 - Realto Board Seat: Yes or No

SS - Growth and Series B

47 DMQ 4.10 - Series B Financing

SS - HBH, Inc. on a Tear

Finish stage 4

308/16/2021103

5th Discussion with Instructor

318/21/2021111

Begin Stage 5

Stage 5 Video Drucker on, "Organizational Dynamics"

SS - Rudderless Board?

48 DMQ 5.1 - Working Capital & New HBs

10 UUU 5.1 - Did your Working Capital Decision and Relationship with Realto turn out to be Compatible?

LC - Working Capital

36 TYK 5.1 (5 Questions) – Working Capital

328/21/2021112

SS - Work Load - Organization Design & Structure

49 DMQ 5.2 - HB Corporate Org Structure

50 DMQ 5.3 - HB Restaurant Org Structure

LC - Organization Design

37 TYK 5.2 (7 Questions) – Organizational Design

338/21/2021113

SS - Digital Marketing

LC - Common Digital Marketing Terms

LC - Digital Marketing Tools Assessment

LC - Adroll

348/30/2021121

LC - AdWords

LC - Facebook

38 TYK 5.3 (10 Questions) – Digital Marketing

51 DMQ 5.4 - Digital Marketing Tool

358/30/2021122

SS - Poor Contract

52 DMQ 5.5 - Sue the Wine Merchant or Not

53 DMQ 5.6 - Final Decision - To Sue or Not

LC - Contract Law

39 TYK 5.4 (5 Questions) - Contract Law

LC - Agency & Intentional Torts

40 TYK 5.5 (5 Questions) - Agency & Intentional Tort

368/30/2021123

SS - Org (Kitchen) Conflict

54 DMQ 5.7 - Resolving Conflicts Due to Matrix Org Structure

11 UUU 5.2 - Did Authoritative Command Conflict Resolution Style Work?

LC - Conflict

41 TYK 5.6 (7 Questions) – Conflict

SS - Lawsuits

55 DMQ 5.8 - Bev's Defamation - Go to Court or Settle

56 DMQ 5.9 - Advice for Friendly Fast-food Chain

LC - Defamation

42 TYK 5.7 (6 Questions) - Defamation

LC - Working with Attorneys

43 TYK 5.8 (4 Questions) - Working with Attorneys

379/6/2021131

LC - Negligence

44 TYK 5.9 (5 Questions) - Negligence

SS - Power Politics

LC - Power Politics

45 TYK 5.10 (7 Questions) - Power Politics

389/6/2021132

PROJECT PLAN: PROBLEM DEFINITION PRESENTATIONS

399/6/2021133

SS - Analyzing Data from the Web

LC - Digital Analytic

46 TYK 5.11 (10 Questions) - Digital Analytics

409/13/2021141

SS - Leadership, Organization Communication and Teams

57 DMQ 5.10 - Leadership Style

LC - Leadership

47 TYK 5.12 (10 Questions) - Leadership

419/13/2021142

LC - Teams

48 TYK 5.13 (7 Questions) - Teams

LC - Organizational Communication

49 TYK 5.14 (7 Questions) - Organizational Communication

429/13/2021143

SS - Power Struggles

58 DMQ 5.11 - Time to Nail Realto?

LC - Property Law

50 TYK 5.15 (6 Questions) - Property Law

SS - Patenting a New Grill

59 DMQ 5.12 - Patent - Whose Name?

LC - Intellectual Property

51 TYK 5.16 (6 Questions) - Intellectual Property

439/20/2021151

SS – Exit Strategies

60 DMQ 5.13 – To IPO or Not

LC – Mergers & Acquisitions

52 TYK 5.17 (6 Questions) – Mergers & Acquisition

LC – IPO

53 TYK 5.18 (5 Questions) – IPO

449/20/2021152

LC – Types of Stocks

54 TYK 5.19 (6 Questions) – Types of Stocks

Smoking a Cigar after IPO

Finish Stage 5

459/20/2021153

6th Discussion with Instructor

469/27/2021161

Begin Stage 6

Stage 6 Video Drucker on, "Social and Moral Responsibility: Amidst Economic, Technological and Global

Regulations and Trends"

SS - Success Invites Problems

61 DMQ 6.1 - Across-the-Board Raises

62 DMQ 6.2 Who would you promote - Loyalist or Pure-performer?

SS - A Little Paranoia Sets In

63 DMQ 6.3 - Your Value-add

64 DMQ 6.4 Would You Engage in Such Messaging Regarding Your Successes?

479/27/2021162

SS - Employee Raises - Decision Making Process?

LC - GDP

55 TYK 6.1 (5 Questions) – GDP

LC - Inflation

56 TYK 6.2 (5 Questions) – Inflation

489/27/2021163

LC - Unemployment

57 TYK 6.3 (5 Questions) – Unemployment

65 DMQ 6.5 - Raises - Local Manager or Template

66 DMQ 6.6 - Keeping Up with Knowledge

67 DMQ 6.7 - Salary Increase through Price Increase

68 DMQ 6.8 Who Would You Promote, Innovator Manager A or Maintainer Manager B?

4910/4/2021171

LC - Economic Production and Growth

LC - Economic Business Cycles

58 TYK 6.4 (8 Questions) – National Production and Growth, Business Cycles

5010/4/2021172

LC - Monetary System and Monetary Policy

59 TYK 6.5 (9 Questions) – Monetary and Fiscal Policy

5110/4/2021173

LC - Fiscal Policy

60 TYK 6.6 (8 Questions) - Fiscal Policy

69 DMQ 6.9 - Dynamic Pricing?

70 DMQ 6.10 Will You Tell the Board that the Idea and the Plan for HB Expresses Were CFO's?

71 DMQ 6.11 To Borrow or Not to Borrow

5210/11/2021181

SS - Scaling-up: Good Problems to Have

LC - Computer Hardware and Software Fundamentals

LC - Instruction Set, Programming and System Software

LC - Application Software

5310/11/2021182

61 TYK 6.7 (26 Questions) – HW/SW Part 1

5410/11/2021183

LC - The Internet, the World Wide Web and Web Languages

LC - Web Services, Cloud Services and Virtual Machines

LC - Computer Networks

5510/18/2021191

62 TYK 6.8 (23 Questions) - HW/SW Part 2

5610/18/2021192

72 DMQ 6.12 - Keeping up with Technology

73 DMQ 6.13 - Cost-cutting or Revenue-generating Applications

74 DMQ 6.14 Would You Tell the Board About Customer Data Insights Project or Continue in Secrecy?

SS - Increasing Revenues Through Food Delivery

75 DMQ 6.15 - Type of Delivery Service

5710/18/2021193

SS - All In With Technology

LC - Big Data and Big Data Storage Technologies

LC - Data Visualization

LC - Machine Learning & Data Mining

5810/25/2021201

63 TYK 6.9 (9 Questions) - Big Data Part 1

5910/25/2021202

LC - Natural Language Processing

LC - Artificial Neural Networks & Face Recognition Systems

64 TYK 6.10 (6 Questions) - Big Data Part 2

76 DMQ 6.16 - Implementing AaaS

77 DMQ 6.17 - Privacy & Customer Data

6010/25/2021203

SS - Sourcing Commercial Appliances from China

LC - Supply Chains

65 TYK 6.11 (9 Questions) – Global Supply Chains

6111/1/2021211

LC - International Economics

66 TYK 6.12 (8 Questions) – International Economics

78 DMQ 6.18 - E Term or DDP

79 DMQ 6.19 - Salesforce Organization

6211/1/2021212

LC - Business to Business (B2B) Marketing

LC - Personal Selling and Sales Management

SS - Growing HB Restaurants Globally

LC - Global Organizations and Trade

67 TYK 6.13 (7 Questions) - Overview: Global Organizations and Trade

6311/1/2021213

LC - Political, Legal, and Cultural Environments

68 TYK 6.14 (6 Questions) - Political, Legal, and Cultural Environments

LC - Global Management Issues

69 TYK 6.15 (7 Questions) - Global Management Issues

6411/8/2021221

LC - Solutions for Global Business

70 TYK 6.16 (7 Questions) - Solutions for Global Issues

6511/8/2021222

80 DMQ 6.20 - India or China

81 DMQ 6.21 - Mode of Entry

82 DMQ 6.22 - American Food Higher Margin

SS - China Is It

83 DMQ 6.23 - HBH American Culture in China

84 DMQ 6.24 - Local or Expat

6611/8/2021223

SS - Employee Management: Always Problematic?

LC - Employee Benefits

71 TYK 6.17 (6 Questions) - Benefits

LC - Compensation

72 TYK 6.18 (6 Questions) - Compensation

6711/15/2021231

LC - Safety

73 TYK 6.19 (6 Questions) - Safety

LC - Labor Relations

74 TYK 6.20 (6 Questions) - Labor Relations

6811/15/2021232

85 DMQ 6.25 - Grill Flare-up Resolution Style

86 DMQ 6.26 - Would You Start a Silent Campaign to Blame Chen and Realto?

87 DMQ 6.27 - Would You Ask the CFO to Complete the Report

88 DMQ 6.28 - What Would You Do Regarding "Flex-Time" for Religious Week?

SS - Technology vs. Employees

89 DMQ 6.29 - Transfer $ from CITO to CHRO

90 DMQ 6.30 - Employee Involvement in Benefits

91 DMQ 6.31 - Inappropriate Selection: Who Cares

92 DMQ 6.32 Who Would You Recommend to Buddy - Networker Who Would Help You or Performer?

6911/15/2021233

SS - Chen Gets Powerful (Insubordination?): If, When and How to Neutralize

LC - Financial Statement Analysis

75 TYK (5 Questions) - 6.21 Financial Statement Analysis

7011/22/2021241

LC - Tax Reporting

76 TYK 6.22 (9 Questions) - Tax Reporting

7111/22/2021242

LC - Financial Reporting

77 TYK 6.23 (9 Questions) - Financial Reporting

7211/22/2021243

LC - Corporate Governance

78 TYK 6.24 (6 Questions) – Corporate Governance

7311/29/2021251

93 DMQ 6.33 - Unethical Financial Statements

94 DMQ 6.34 Would You Take This Opportunity to Get Back at Chen Who Has Been Performing Well but Has Been

a Thorn in Your Flesh?

95 DMQ 6.35 - Strategy to Neutralize Chen

SS - Even More Value-based Decisions

96 DMQ 6.36 Would You Give your Daughter's Teacher a Break?

97 DMQ 6.37 Would You Give the Immobile VP a Raise?

98 DMQ 6.38 Would You Agree to Train Your Managerial Staff in the Major Functional Areas of Business?

99 DMQ 6.39 Which Charity Would You Support?

100 DMQ 6.40 Would You Allow Volunteering on Company-Time or Facilitate Volunteering on Employee-Time?

SS - The Principles You Have Used in Making Decisions

SS - The End: You are Now Ready to Run a Large Corporation

Finish Stage 6

7411/29/2021252

7th and Final Discussion with Instructor

7511/29/2021253

PROJECT PRESENTATIONS

GRADUATION!

7612/6/2021261

The above schedule will have "days" off because of Holidays

7712/6/2021262

The instructor will make adjustment to the schedule to accommodate Holidays

7812/6/2021263

These three sessions are reserved for accommodating a "week" off.

FAQs Virtual Business Professional & Professional Certificates

(Please review Virtual Business - Professional for Executives/Corporations. Please contact bizdev@precisedonline.com for further exploration.)
What is Virtual Business Professional Simulation? And how is it different from existing simulations for business courses?

Virtual Business Professional Simulation (VB Pro) is a computer-based educational package where learning occurs experientially and immersively. It is designed for executives to learn the essentials of business in an effective and efficient manner. V. “Seenu” Srinivasan, Adams Distinguished Professor of Management, Emeritus, Graduate School of Business, Stanford University endorses that the learnings from VB Pro can essentially be described as the key takeaways of the core of an MBA Program. However, it is differentiated from the core of an MBA program by 2 facts. One, the learnings are imparted in a cross-functionally integrated manner, and two, VB Pro can be completed more efficiently in 6 months.

Unlike many existing business simulations, VB Pro is not minutely focused on enlivening certain specific academic concepts. VB Pro conveys a comprehensive set of business concepts. It is designed to ensure that each and every participant learns. It is for this reason that the simulation is individually run.

The four essential components that define the core of the Simulation are – Simulation Story (SS), Learning Concepts (LCs), Test Your Knowledge (TYK) questions, and Decision Making Questions (DMQs).

What are SSs (Simulation Stories), LCs (Learning Concepts),TYKs (Test Your Knowledge) questions, and DMQs (Decision Making Questions)?

SSs are Simulation Stories. These are short descriptions of situations in the virtual business. Running a business means making decisions. SSs set the stage for decisions that have to be made. Decisions are in the form of choices in DMQs. Decisions require business knowledge. This knowledge is presented as LCs (Learning Concepts). LCs are available at the behest of the participants in real-time. For participants to feel confident that they have understood an LC well, they answer a set of quiz questions called TYK (Test Your Knowledge) based on that LC. For example, there are 6 questions in the first TYK on the LC, Resources, Capabilities and Core Competencies and 5 questions in the second TYK on the Competitive and Environmental Analysis.

How does VB Pro progress?

The general flow is as follows. The Simulation starts with SSs and then moves on to one or more LCs. LCs are followed by a set of questions, TYKs. After completion of the necessary number of LCs and TYKs, there are one or more DMQs. In some situations, participants may be asked to provide some pros and cons for their decision choices. The idea is to promote some thinking behind decisions. These pros and cons are in the form of short answers which are, then processed using AI/NLP techniques.

It is well known that being in the right place at the right time is a phenomenon every individual or organization encounters. We can face Unforeseeable, Unpredictable, and Uncontrollable events in the environment. Some of these events may make our past decisions look smart or stupid. Such external events, called UUU, are simulated by a spin of a wheel.

What is the difference between TYKs and DMQs?

TYKs are based on the LCs. They just test the acquisition of knowledge. They, therefore, have right or wrong answers. For each right answer, 1 point is added to the participant’s TYK score. There are no negative points for wrong answers.

DMQs are questions that require judgment in applying the knowledge. DMQs do not have right or wrong answers but are evaluated for quality. A decision is good 1) if it incorporates all the information available at the time of making the decision and 2) if it is consistent with other decisions previously made. DMQs in the first 5 Stages of VB Pro are evaluated for quality. DMQs in Stage 6 are used for inferring your values as you work in an organization as a leader, follower, and colleague.

Do wrong answers in TYKs have negative points?

No, there are no negative points for incorrect answers.

How are decisions evaluated, and what is MDQI?

Each decision that is made has an Importance rating, and each of the choices of a decision has a Quality rating. MDQI, Management Decision Quality Index, is an index that is used to measure the overall impact of the quality of all your decisions and of the interactions among the decisions. MDQI moves up or down with every decision made. This movement of MDQI is calculated as the product of Ix and Qx. Ix is the Importance of Decision x, and Qix is the rating of the Quality of the choice i of decision x. MDQI starts with a base of 100.

Importance is measured on a 3-point scale, with 3 points being awarded to a very strategic decision and 1 point to a tactical decision with low downside risk. Quality of Choice is rated as -1, 0 or +1 to correspond to a Poor, OK or Good choice.

What are Consistency Scores?

Consistency Scores are points added or subtracted to your MDQI score based on consistency or inconsistency between 2 or more decisions.

What’s the philosophy behind Virtual Business Professional Simulation? How does the philosophy of Virtual Business Professional (VB Pro) match Peter F. Drucker’s Management philosophy?

The philosophy VB Pro is educating in an integrated cross-functional manner. VB Pro comprises 93 Learning Concepts in the following areas. 

1) Conceptualizing and Vetting a Business Idea including Internal and External Analysis, Break-even Analysis, Target Market Selection and Development of Value Propositions; 2) Basic Accounting and Finance culminating in Financial Statements – P&L, Stockholders Equity, Balance Sheet, Cash Flow and Financial Statement Analysis; 3) Marketing –  4Ps, Brand Management, SEO and Social Media; 4) Human Resources Laws and Principals; 5) Organizational Behavior – Culture, Politics, Conflict and Leadership; 6) Venture Financing and Capitalization Tables; 7) Exit Strategies – Mergers and Acquisitions, IPO; 8) Business Laws; 9) Research and Data/Digital Analytics; 10) Global Supply Chains and Management; 11) Economics; 12) Corporate Governance; 13) IT and Big Data.

Bu these Learning Concepts are not necessarily presented by subject area. They are presented as and when required as determined by the situation in the virtual organization. Such a presentation of LCs and DMQs makes VB Pro exhibit a holistic cross-functional pedagogy. 

The overall learnings can be said to fall into the 3 essential categories, Economic Benefits, Development of Employees and Environmental Sensitivity. These 3 buckets are the same as what Drucker proposed as essential to the management of organizations. In general, VB Pro’s philosophy of satisfying the existing and future, expressed and latent needs of customers gels well with Drucker’s holistic management.

When and how do I come to know which TYK questions I got right or wrong?

Immediately upon submitting your answers to the set of questions within one TYK, your answers are graded, and the right answers are then flashed on your screen. However, your instructor might follow a different process. Expiry dates may be set for each TYK. Right answers, in that case, are then available on clicking on a link right below the relevant TYK in the Table of Contents of your Simulation. The link can be clicked only once and right answered viewed only once. Note: Expiry Date implies that the TYK cannot be attempted after the expiry date. Unanswered TYKs get a 0.

When and how do I get feedback on my decisions or choices on DMQs?

Feedback on your decisions is available as soon as the instructor enables it. If already enabled, you will get the feedback as soon as you make the decision. Or else, it is available after the date it is enabled. Generally speaking, feedback for decisions is enabled after the stage is completed by all participants in a cohort.

How many TYKs and DMQs are there in VBs?

VB Pro has 78 sets of TYKs (Test Your Knowledge) with 604 quiz questions in total corresponding to the 93 Learning Concepts (LCs), and 100 Decision Making Questions (DMQs).

VB Select has 17 sets of TYKs consisting of 85 questions and 15 DMQs.

VB Small has 31 sets of TYKs consisting of 203 questions and 29 DMQs

What is the maximum MDQI one can get?

The minimum and maximum MDQI for VB Pro is 72 and 217.

What is MLI?

MLI stands for Management Luck Index. It is well known that being in the right place at the right time is a phenomenon every individual or organization can encounter. We can face Unforeseeable, Unpredictable, and Uncontrollable events in the environment. Some of these events may make our past decisions look smart or stupid. Such external events, called UUU, are simulated by a spin of a wheel. The probability of the event occurring is determined by the size of the sector/pie. Participants are awarded points based on the impact of the UUU event on the organization.

MLI starts with a base of 100 and moves up or down depending upon the event’s occurrence and the type of event.

Does MLI count as “performance”?

No. Participants do enjoy getting luck points, though.

Can I revisit TYKs once submitted?

TYKs, once submitted, cannot be revisited to view or change the answers. The right answers can be viewed only once.

Can I change my decisions in DMQs once submitted?

No. DMQ choices cannot be changed once made but can be viewed.

Can I revisit an SS page anytime?

SS pages can be viewed as many times as desired. You can revisit any SS page that you have previously visited.

Can I revisit an LC page?

LCs can be viewed as many times as desired. You can revisit any LC that you have previously visited.

How do I come to know of my progress and performance?

You can check your progress and performance by clicking on “Dashboard” on your left navigation bar.

How is the Profitability Score Calculated?

Profitability is calculated in Stage 2 only because the notions of “Economic Benefits” are ingrained in this stage only. This is keeping with the overall philosophy of the course –  once taught and learned, concepts are not recycled. 

The Profitability Score is based on wastage which is determined by the difference between the actual demand and purchased amount. (All ingredients used have to be fresh per your value proposition. The other cost and margin factors are more or less the same for all participants.) 

If Dij is the demand for individual i’s burgers in time period j and Pij is the amount purchased, the indicator of profitability used is (Dij –Pij)**2 . (The higher the (Dij –Pij)**2 the lower the profitability.) A Relative Profitability Index in % form is calculated. 

Estimating daily demand is a painstaking task, but it shows the difference between individuals on the attribute of being able to “keep one’s nose to the grindstone.” The demand is different for different price points and there are small random fluctuations across I and j.

How can I judge my overall performance?

The best approach to evaluate your performance in VB Pro is to answer questions such as these for yourself. “How much did I learn from VB Pro.” “Am I better off as a general manager than before?” Compare your knowledge and your capabilities to use the knowledge before and after going through the simulation. Participants come in with varied backgrounds. So, to some extent, comparing yourself to others is not the best way to evaluate your learning/performance. Some may score higher than you just because of their backgrounds. But moving forward, you may be in a better place to use the knowledge you gained in VB Pro, which is what matters.

Nonetheless, VB Pro provides you with scores on TYKs, MDQI, and Profitability. The TYK scores reported are the percent of TYKs that were correct. MDQI score is the percent of the maximum MDQI score that you could have received. Profitability score is based on the wastage of inventory as measured by (Dij –Pij)**2 -- where Dij is the demand for individual i (you) on day j and Pij is the amount you purchased (your prediction) for day j. Your scores for each of these measures are exhibited in the dashboard. The Profitability score is calculated only once at the end of Stage 2. The other 2 scores are continuously updated.

What are AI/NLP Inputs?

To ensure that individuals think through before making decisions, participants are sometimes asked after they have made a decision to list the pros and cons of their decision. These pros and cons are in the form of short sentences. The pros and cons are evaluated using Artificial Intelligence and Natural Language Processing. Pros and cons are asked for some decisions only. This is in keeping with the spirit that VBs are educational tools. Once lessons are taught, they are not repeated more than necessary.

Are AI/NLP inputs presented in all VB Simulations?

Some VB Simulations do not have AI/NLP input opportunities.

What are UUU?

It is well known that being in the right place at the right time is a phenomenon every individual or organization can encounter. We can face Unforeseeable, Unpredictable, and Uncontrollable events in the environment. Some of these events may make our past decisions look smart or stupid. Such external events, called UUU, are present in some VBs and are simulated by a spin of a wheel.

What is the role of an instructor in VB Pro?

An instructor facilitates virtual or face-to-face discussions on individual decisions or interactions among a few decisions. Many reports are available to the instructor around the decisions made by the participants. Instructors can find out from these reports who made what decisions or a collection of decisions. The instructor can then facilitate a discussion by calling on participants to justify and discuss the rationale of their choices. 

Mostly, discussions will be held at the end of each stage.

Besides the feedback on decisions, instructors provide participants with personal feedback based on PIUs (Principles-in-Use). Principles-in-Use are values you, consciously or unconsciously, hold and practice in an organization.

Instructors also nudge stragglers. Discussions at the end of a stage cannot be held if all participants are not at the same point in the simulation. To this end, instructors might set expiry dates on Test Your Knowledge quizzes. After expiry, TYKs can no longer be attempted.

Instructors are also the guides for projects.

What kind of reports and information are available to instructors?

Several reports are available to instructors. Instructors are trained on the usage of these reports. Reports allow instructors to follow the progress and performance of every participant on all performance factors.

What are PIUs?

Principles-in-Use are values you, consciously or unconsciously, hold and practice in an organization. Eight PIU scores on four dimensions and the corresponding snake diagram are available as feedback on finishing Stage 6 of VB Pro (Corps and Univ.)

What types of certificates are available with VB Professional?

At any given point in time, several institutions may provide certificates. The certificate you get depends on the institution you signed up with. Please contact us at bizdev2@presicedonline.com if you are interested in being awarded a certificate. An image of a certificate from Drucker School of Management, Claremont Graduate University is shown below.

How long does it take to complete the requirements for a certificate?

Generally speaking, a certificate requires 6 months to complete. The number of hours per week depends on whether a project is part of the certificate program. You might be enrolled in a certificate program that is based only on the VB Pro simulation or in a program that includes a project.

What does a typical 6-month schedule look like?

Please click on the link below to see a typical schedule. This schedule has a project embedded in the program. If the program that is being offered to you does not include a project, you can deduct those hours from the schedule.

An exemplar of a 6-Month Schedule for Virtual Business Professional Certificate Programs with Projects

What is a typical fee per individual for a Certificate Program?

The program fee depends on the country in which it is being offered, the cost of a local instructor, the institution issuing the certificate, the number of participants (in an in-company type of offering), and the intensity of the projects required. Nonetheless, it is estimated that an average open enrollment cost/individual with projects in a developing country would be around US Dollars 800. In high-cost nations, the amount per individual would probably be a minimum of USD 1,200. VB Pro can be completed individually with no projects, no instructor and no certificate but with automatic feedback only for USD 500.

What is the fee structure for the course? Is it paid up before start or in installments?

Each Certificate Program offering will have its own fee structure depending on whether it is an in-company program or an open-enrollment one. In situations where payments are being made by individuals, payments in installments are possible. The installment plan comprises the following amounts. 5% at the time of registration, five 15% payments at the beginning of each month and a final 20% at the beginning of the 6th month. Installment payment will normally imply 10% more than an upfront payment.

What happens if a participant is unable to complete the entire course for any reason?

If, for some reason, a participant cannot pay after registering, the following remedies are available. Certificates will be provided only after total payment and completion of projects, if applicable, and VB Pro Simulation.

PaidInability to Pay AmountRemedies
Registration Fee5%N/A
Beginning of Simulation15%Apply Registration Fee for another offering
Beginning of Month 215%Eligible to continue with the next cohort or individually. Full paid carried forward.
Beginning of Month 315%Eligible to continue with the next cohort or individually. Full paid carried forward.
Beginning of Month 415%Complete Project with the team. Complete VB Pro Simulation whenever payments can be made.
Beginning of Month 515%Complete Project with the team. Complete VB Pro Simulation whenever payments can be made.
Beginning of Month 620%Complete Project with the team. Complete VB Pro Simulation whenever payments can be made.
In addition to the feedback built into the system, will the instructor provide any form of personalized attention to any participant?

Yes, all the discussions after each stage are focused on providing qualitative feedback to participants. The final discussion after the 6th stage is all about Principles-in-Use. PIU are values participants, consciously or unconsciously, hold and practice in an organization. Eight PIU scores on four dimensions and the corresponding snake diagram are available as feedback.

What if I fall behind?

The instructor will keep you on track by nudging you along. Worse comes to worst, you will not be able to complete the TYK that has expired. It is expected that a busy executive will miss a few TYKs here and there. Since the focus of the program is on decision-making, decisions can still be made, even if some TYKs are left unfinished.

An Exemplar of a 6-Month Schedule for Virtual Business Professional Certificate Programs with Projects

(This document is to be read in conjunction with Virtual Business - Professional for Executives/Corporations. Please contact bizdev@precisedonline.com for further exploration.)
The VB Pro Certificate Program can be executed with or without a project. You could be participating in an in-company program or an open-enrollment program. The topic of the project will be determined on a program-by-program basis. So also, will be the time commitment required for the project.
Typically, projects will be conducted in teams of approximately 4 individuals and will require about 20 hours of work off-line. More details of projects will be available in the description of the specific program that you are part of.
In the example of a 6-month schedule shown below, two formal presentations of projects, one at the time when the Problem Definition is complete and one at the end as a final "Defense," are shown. Each presentation will be about 15-20 minutes. All participants are expected to attend these 2 project presentation sessions to provide their feedback to the presenters. Topics can be chosen with the help of an instructor either off-line or during a 2-hour session fitted in this program.
The generic schedule-table below shows the Simulation Stories (SS), Learning Concepts (LCs), TYKs, DMQs, and UUUs of VB Pro that you have to complete on your own. The yellow highlighted sessions imply Virtual Meetings of all participants and the instructor. There are 7 such virtual meetings, one at the beginning of the program and one after each of the 6 stages in VB Pro.
A specific schedule will be available for your particular VB Pro Certificate Program.
There are 93 Learning Concepts (LCs), 78 sets of Test Your Knowledge (TYKs) with 604 quiz questions in all, 100 Decision Making Questions (DMQs), and 11 Unforeseeable, Unpredictable or Uncontrollable Events (UUU) in the VB Pro simulation and they have to be completed individually. The schedule is for 72 sessions of approximately 2 hours/session. It is estimated that an average participants could expect to spend approximately 5 hours/week for 6 months. Most participants will find some sessions easier or harder than others because of their background. So, variability in the time required to finish the content of a session is expected. Expiry dates will be set by the supervisor of the program to keep everyone on track.
Week/SessionContent
1/1
  1. Meet & Greet Dr. Rajiv Grover and Instructor.
  2. Q & A Workings of VB Professional and Program
  3. Begin the simulation:
    1. Go to www.precisedonline.com
    2. Review the Student Manual and the Video under the Demo tab
    3. Login with your userid and password provided
    4. Click on "Courses" on the left navigation bar
    5. Click on "VB Pro-Corps"
    6. View Videos
      1. VB Pro: Raison d'etre and Philosophic Underpinnings
      2. Overview of Drucker Management Philosophy
      3. Drucker on, "Customer Obsession"
    7. Click on SS - You, the City, and the Gourmet Burger Business in the Table of Contents
1/2

SS - You, the City and the Gourmet Burger Business

SS - Your Strengths and Weaknesses

LC - Resources, Capabilities and Core Competencies

1 TYK 1.1 (6 Questions) - Resources, Capabilities and Core

Competencies

SS - Competition in the City

LC - Competitive and Environmental Analyses

2 TYK 1.2 (5 Questions) - Competitive and Environmental Analyses

1/3

SS - Types of Potential Customers in Simile

LC - Market Segmentation and Target Market

3 TYK 1.3 (6 Questions) - Market Segmentation and Target Market

SS - Beyond the Burger: Price, Location and Image

LC - Marketing Mix

4 TYK 1.4 (6 Questions) - Marketing Mix

LC - Positioning

5 TYK 1.5 (6 Questions) – Positioning

SS - Who Will Buy and Why?

6 TYK 1.6 (5 Questions) - Value Proposition

2/4

SS - Estimating the Cost of a Cheeseburger

LC - Variable and Fixed Cost

SS - How Many Need to be Sold to Make Profit?

LC - Breakeven Analysis

7 TYK 1.7 (12 Questions) - Breakeven Analysis and Spreadsheet

Modelling.

2/5

SS - Final Decisions: Location, Pricing, Service and Target Market

1 DMQ 1.1 - Location Decision

AI Input - Pros and Cons of Location Decision

LC - Pricing

2 DMQ 1.2 - Market Research Purchase Decision

3 DMQ 1.3 - Price Decision

AI Input - Pros and Cons of Price Decision

4 DMQ 1.4 - Service Concept Decision

5 DMQ 1.5 - Target Market Decision

8 TYK 1.8 (8 Questions) - Pricing

Feedback on Your Decisions

1 UUU 1.1 - Unforeseen Potential Environmental Changes – Zoning

Finish Stage 1

2/6

2nd Discussion with Instructor

3/7

Begin Stage 2

Stage 2 Video Drucker on, "Economic Benefits"

SS - Opening Day - Promotion and Cost Figures

6 DMQ 2.1 - Opening Day Banner Promotion Decision

7 DMQ 2.2 - Accounting Approach Decision

LC - Direct and Indirect Costs

9 TYK 2.1 (3 Questions) - Direct and Indirect Costs

SS - Final Breakeven Quantity

2 UUU 2.1 Unpredictable Reactions - Influential Accounting Expert

SS - Beginning to Keep the Books and Accounting

8 DMQ 2.3 - Delivery and Take-out Pricing

9 DMQ 2.4 - Delivery Orders Pricing

LC - Main Accounting Equation

10 TYK 2.2 (3 Questions) - Main Accounting Equation

3/8

SS - Opening Day - Purchases and Analysis

LC - Revenue and Expense Reporting - Cash vs. Accrual Basis

11 TYK 2.3 (2 Questions) - Accrual vs Cash Basis

LC - Gross Profit

12 TYK 2.4 (3 Questions) - Gross Profit

SS - Day 1 Profit and Loss Statement and Cash Account

LC - Bank Reconciliation

13 TYK 2.5 (2 Questions) - Bank Reconciliation

3/9

SS - Sales Tax

LC - Sales Tax Payable

14 TYK 2.6 (2 Questions) - Analyzing Day 1

SS - Analyzing Day 1 and The Purchasing System

SS - Ordering and Analyzing Day 2 - Auto Expenses and Accounts Payable

LC - Accounts Payable

SS - Ordering and Analyzing Day 3

3 UUU 2.2 - Unforeseen Synergies - Reporter Visit and Opening Day Banner Decision

SS - Ordering and Analyzing Day 4 - Employee Wages

SS - Ordering and Analyzing Day 5 - Unearned Revenue

LC - Unearned (Deferred) Revenue

SS - Ordering and Analyzing Day 6 - 8

AI Input - Pros and Cons of Cash vs. Accrual Basis Accounting

4/10

LC - Financial Statements

15 TYK 2.7 (4 Questions) - Liabilities

16 TYK 2.8 (9 Questions) - Financial Statements

SS - Data-driven Sales Forecast

10 DMQ 2.5 - Choice of Promotion Type - Couponing, Advertising or WOM

SS - Ordering and Analyzing Day 9 - 11 - Employee Salary

LC - Payroll Liabilities

17 TYK 2.9 (3 Questions) - Payroll Liabilities

4/11

SS - Ordering & Analyzing Day 12 - 30

11 DMQ 2.6 - Degree of Promotion Decision

12 DMQ 2.7 - Ripe Tomatoes Decision

AI Input - Pros and Cons of Ripe Tomatoes Decision

4 UUU 2.3 - Probabilistic Consequences of Risk-taking - Ripe Tomatoes Decision

13 DMQ 2.8 - Server Uniform Decision

AI Input - Pros and Cons of Server Uniform Decision

14 DMQ 2.9 - Heirloom Tomatoes Decision

15 DMQ 2.10 - Customer Satisfaction Trade-Off Decision

5 UUU 2.4 - Probabilistic Consequences of Risk-taking - Customer

Satisfaction Trade–off Decision

Closure to Stage 2

Finish Stage 2

4/12

3rd Discussion with Instructor

5/13

Begin Stage 3

Stage 3 Video Drucker on, "Evidence-based Decision Making"

SS - The First 30 Days, Menu Expansion and Brand Image

LC - Brand Management

18 TYK 3.1 (6 Questions) - Brand Management

SS - To Research or Not and How

16 DMQ 3.1 - Research for Brand Image

17 DMQ 3.2 - Which Brand Image Would You Choose?

5/14

LC - Research Methods

19 TYK 3.2 (9 Questions) - Qualitative Techniques

SS - Brand Image Research & Menu

18 DMQ 3.3 - Brand Image Research Methodology

5/15

SS - Two Months after Opening

20 TYK 3.3 (15 Questions) - Month 2 Financial Statements

SS - Three Months after Opening

21 TYK 3.4 (9 Questions) - Quarter 1 Financial Statements

6/16

SS - 6 Months after Opening

22 TYK 3.5 (21 Questions) - Quarter 2 Financial Statements

6/17

SS - Competition, Patenting and Promotions

19 – 22 DMQ 3.4 - 3.7 - Engaging in Promotional Activities

23 – 26 DMQ 3.8 - 3.11 - Engaging in Promotions

SS - 6-9 Months After Opening

LC - Interviewing

23 TYK 3.6 (6 Questions) - Interviewing

SS - 9-12 Months

27 DMQ 3.12 - Pay Attorney for Restrictive Covenants Contract

LC - Restrictive Covenants and Trade Secrets

6 UUU 3.1 - Luck of the Draw - Susie's Finance Skills

24 TYK 3.7 (4 Questions) - Restrictive Covenants

6/18

SS - Concept for Another Restaurant

28 DMQ 3.13 - Research the Service Hypothesis

LC - Experimental Methods for Research

LC - Survey Methods for Research

SS - Research to Test Multiple-Servers & Eye-Contact Concepts

29 DMQ 3.14 - Methodology for Testing Multiple-Servers & Eye Contact Concepts

7/19

SS - Motivating Learning for Data Analytics

LC - Data Analytics

25 TYK 3.8 (38 Questions) - Data Analytics

7/20

26 TYK 3.9 (25 Questions) – Experimental data

7/21

SS - Insights from the Experiment

SS - Survey for Assessing Attitudes Toward Social Media and Technology

30 – 37 DMQ 3.15 - 3.22 - Survey Data

SS - Insights from the Survey

7 UUU 3.2 - Unpredictable Bias - VC and Stats Skills

Finish Stage 3

8/22

4th Discussion with Instructor

8/23

Begin Stage 4

Stage 4 Video Ducker on, "Managing and Developing Employees"

SS - New Restaurants New Funders

38 DMQ 4.1 - BH Chain or HB Chain

LC - Organizational Forms

27 TYK 4.1 (6 Questions) - Organizational Forms

SS - Org Form & Type of Financing

39 DMQ 4.2 - To C-Corp or Not

LC - The Delaware C-Corp

LC - Time Value of Money

28 TYK 4.2 (7 Questions) - Time Value of Money

8/24

LC - Debt vs. Equity Financing

29 TYK 4.3 (4 Questions) – Debt vs. Equity Financing

SS - VC Interaction & a Loan

40 DMQ 4.3 - To Meet or Not to Meet Other VCs

LC - Employment Law

30 TYK 4.4 (6 Questions) – Employment Law

9/25

SS - Quick Success & Simple Digital Savvy

LC - SEO

31 TYK 4.5 (10 Questions) – SEO

LC - Social Media Engagement

32 TYK 4.6 (10 Questions) - Social Media

9/26

SS - Motivating Employees & Setting the Culture

41 DMQ 4.4 - Tip Policy

LC - Motivating Employees

33 TYK 4.7 (6 Questions) - Motivating Employees

42 DMQ 4.5 - Views of Workers Theory X or Y

8 UUU 4.1 - Unpredictable Reaction - Workers to Tip Policy Decision

LC - Job Description and Performance Evaluation

34 TYK 4.8 (6 Questions) - Job Description and Performance Evaluation

LC - Organizational Culture

35 TYK 4.9 (6 Questions) - Organizational Culture

43 DMQ 4.6 - Organizational Involvement in Culture Development

44 DMQ 4.7 - Type of Servers Hired

9/27

SS - Growth and Convertible Debt

9 UUU 4.2 - Did your Decision to Involve the Organization in Developing a Culture turn out to be fruitful?

LC - Financing Your Business

SS - Negotiations and Series A

45 DMQ 4.8 - To Negotiate or Not with Sageio

46 DMQ 4.9 - Realto Board Seat: Yes or No

SS - Growth and Series B

47 DMQ 4.10 - Series B Financing

SS - HBH, Inc. on a Tear

Finish Stage 4

10/28

5th Discussion with Instructor

10/29

Begin Stage 5

Stage 5 Video Drucker on, "Organizational Dynamics"

SS - Rudderless Board?

48 DMQ 5.1 - Working Capital & New HBs

10 UUU 5.1 - Did your Working Capital Decision and Relationship with Realto turn out to be Compatible?

LC - Working Capital

36 TYK 5.1 (5 Questions) – Working Capital

10/30

SS - Work Load - Organization Design & Structure

49 DMQ 5.2 - HB Corporate Org Structure

50 DMQ 5.3 - HB Restaurant Org Structure

LC - Organization Design

37 TYK 5.2 (7 Questions) – Organizational Design

11/31

SS - Digital Marketing

LC - Common Digital Marketing Terms

LC - Digital Marketing Tools Assessment

LC - Adroll

11/32

LC - AdWords

LC - Facebook

38 TYK 5.3 (10 Questions) – Digital Marketing

51 DMQ 5.4 - Digital Marketing Tool

11/33

SS - Poor Contract

52 DMQ 5.5 - Sue the Wine Merchant or Not

53 DMQ 5.6 - Final Decision - To Sue or Not

LC - Contract Law

39 TYK 5.4 (5 Questions) - Contract Law

LC - Agency & Intentional Torts

40 TYK 5.5 (5 Questions) - Agency & Intentional Tort

12/34

SS - Org (Kitchen) Conflict

54 DMQ 5.7 - Resolving Conflicts Due to Matrix Org Structure

11 UUU 5.2 - Did Authoritative Command Conflict Resolution Style Work?

LC - Conflict

41 TYK 5.6 (7 Questions) – Conflict

SS - Lawsuits

55 DMQ 5.8 - Bev's Defamation - Go to Court or Settle

56 DMQ 5.9 - Advice for Friendly Fast-food Chain

LC - Defamation

42 TYK 5.7 (6 Questions) - Defamation

LC - Working with Attorneys

43 TYK 5.8 (4 Questions) - Working with Attorneys

12/35

LC - Negligence

44 TYK 5.9 (5 Questions) - Negligence

SS - Power Politics

LC - Power Politics

45 TYK 5.10 (7 Questions) - Power Politics

12/36

PROJECT: PROBLEM DEFINITION PRESENTATIONS

13/37

SS - Analyzing Data from the Web

LC - Digital Analytics

46 TYK 5.11 (10 Questions) - Digital Analytics

13/38

SS - Leadership, Organization Communication and Teams

57 DMQ 5.10 - Leadership Style

LC - Leadership

47 TYK 5.12 (10 Questions) - Leadership

13/39

LC - Teams

48 TYK 5.13 (7 Questions) - Teams

LC - Organizational Communication

49 TYK 5.14 (7 Questions) - Organizational Communication

14/40

SS - Power Struggles

58 DMQ 5.11 - Time to Nail Realto?

LC - Property Law

50 TYK 5.15 (6 Questions) - Property Law

SS - Patenting a New Grill

59 DMQ 5.12 - Patent - Whose Name?

LC - Intellectual Property

51 TYK 5.16 (6 Questions) - Intellectual Property

14/41

SS – Exit Strategies

60 DMQ 5.13 – To IPO or Not

LC – Mergers & Acquisitions

52 TYK 5.17 (6 Questions) – Mergers & Acquisition

LC – IPO

53 TYK 5.18 (5 Questions) – IPO

14/42

LC – Types of Stocks

54 TYK 5.19 (6 Questions) – Types of Stocks

Smoking a Cigar after IPO

Finish Stage 5

15/43

6th Discussion with Instructor

15/44

Begin Stage 6

Stage 6 Video Drucker on, "Social and Moral Responsibility: Amidst Economic, Technological and Global Regulations and Trends"

SS - Success Invites Problems

61 DMQ 6.1 - Across-the-Board Raises

62 DMQ 6.2 Who would you promote - Loyalist or Pure-performer?

SS - A Little Paranoia Sets In

63 DMQ 6.3 - Your Value-add

64 DMQ 6.4 Would You Engage in Such Messaging Regarding Your Successes?

15/45

SS - Employee Raises - Decision Making Process?

LC - GDP

55 TYK 6.1 (5 Questions) – GDP

LC - Inflation

56 TYK 6.2 (5 Questions) – Inflation

16/46

LC - Unemployment

57 TYK 6.3 (5 Questions) – Unemployment

65 DMQ 6.5 - Raises - Local Manager or Template

66 DMQ 6.6 - Keeping Up with Knowledge

67 DMQ 6.7 - Salary Increase through Price Increase

68 DMQ 6.8 Who Would You Promote, Innovator Manager A or Maintainer Manager B?

16/47

LC - Economic Production and Growth

LC - Economic Business Cycles

58 TYK 6.4 (8 Questions) – National Production and Growth, Business Cycles

16/48

LC - Monetary System and Monetary Policy

59 TYK 6.5 (9 Questions) – Monetary and Fiscal Policy

17/49

LC - Fiscal Policy

60 TYK 6.6 (8 Questions) - Fiscal Policy

69 DMQ 6.9 - Dynamic Pricing?

70 DMQ 6.10 Will You Tell the Board that the Idea and the Plan for HB Expresses Were CFO's?

71 DMQ 6.11 To Borrow or Not to Borrow

17/50,51

SS - Scaling-up: Good Problems to Have

LC - Computer Hardware and Software Fundamentals

LC - Instruction Set, Programming and System Software

LC - Application Software

61 TYK 6.7 (26 Questions) – HW/SW Part 1

18/52,53

LC - The Internet, the World Wide Web and Web Languages

LC - Web Services, Cloud Services and Virtual Machines

LC - Computer Networks

62 TYK 6.8 (23 Questions) - HW/SW Part 2

18/54

72 DMQ 6.12 - Keeping up with Technology

73 DMQ 6.13 - Cost-cutting or Revenue-generating Applications

74 DMQ 6.14 Would You Tell the Board About Customer Data Insights Project or Continue in Secrecy?

SS - Increasing Revenues Through Food Delivery

75 DMQ 6.15 - Type of Delivery Service

19/55,56

SS - All In With Technology

LC - Big Data and Big Data Storage Technologies

LC - Data Visualization

LC - Machine Learning & Data Mining

63 TYK 6.9 (9 Questions) - Big Data Part 1

19/57

LC - Natural Language Processing

LC - Artificial Neural Networks & Face Recognition Systems

64 TYK 6.10 (6 Questions) - Big Data Part 2

76 DMQ 6.16 - Implementing AaaS

77 DMQ 6.17 - Privacy & Customer Data

20/58,59

SS - Sourcing Commercial Appliances from China

LC - Supply Chains

65 TYK 6.11 (9 Questions) – Global Supply Chains

LC - International Economics

66 TYK 6.12 (8 Questions) – International Economics

78 DMQ 6.18 - E Term or DDP

79 DMQ 6.19 - Salesforce Organization

20/60

LC - Business to Business (B2B) Marketing

LC - Personal Selling and Sales Management

SS - Growing HB Restaurants Globally

LC - Global Organizations and Trade

67 TYK 6.13 (7 Questions) - Overview: Global Organizations and Trade

21/61,62

LC - Political, Legal, and Cultural Environments

68 TYK 6.14 (6 Questions) - Political, Legal, and Cultural Environments

LC - Global Management Issues

69 TYK 6.15 (7 Questions) - Global Management Issues

LC - Solutions for Global Business

70 TYK 6.16 (7 Questions) - Solutions for Global Issues

21/63

80 DMQ 6.20 - India or China

81 DMQ 6.21 - Mode of Entry

82 DMQ 6.22 - American Food Higher Margin

SS - China Is It

83 DMQ 6.23 - HBH American Culture in China

84 DMQ 6.24 - Local or Expat

22/64,65

SS - Employee Management: Always Problematic?

LC - Employee Benefits

71 TYK 6.17 (6 Questions) - Benefits

LC - Compensation

72 TYK 6.18 (6 Questions) - Compensation

LC - Safety

73 TYK 6.19 (6 Questions) - Safety

LC - Labor Relations

74 TYK 6.20 (6 Questions) - Labor Relations

22/66

85 DMQ 6.25 - Grill Flare-up Resolution Style

86 DMQ 6.26 - Would You Start a Silent Campaign to Blame Chen and Realto?

87 DMQ 6.27 - Would You Ask the CFO to Complete the Report

88 DMQ 6.28 - What Would You Do Regarding "Flex-Time" for Religious Week?

SS - Technology vs. Employees

89 DMQ 6.29 - Transfer $ from CITO to CHRO

90 DMQ 6.30 - Employee Involvement in Benefits

91 DMQ 6.31 - Inappropriate Selection: Who Cares

92 DMQ 6.32 Who Would You Recommend to Buddy - Networker Who Would Help You or Performer?

23/67

SS - Chen Gets Powerful (Insubordination?): If, When and How to Neutralize

LC - Financial Statement Analysis

75 TYK (5 Questions) - 6.21 Financial Statement Analysis

23/68

LC - Tax Reporting

76 TYK 6.22 (9 Questions) - Tax Reporting

23/69

LC - Financial Reporting

77 TYK 6.23 (9 Questions) - Financial Reporting

24/70

LC - Corporate Governance

78 TYK 6.24 (6 Questions) – Corporate Governance

24/71

93 DMQ 6.33 - Unethical Financial Statements

94 DMQ 6.34 Would You Take This Opportunity to Get Back at Chen Who Has Been Performing Well but Has Been a Thorn in Your Flesh?

95 DMQ 6.35 - Strategy to Neutralize Chen

SS - Even More Value-based Decisions

96 DMQ 6.36 Would You Give your Daughter's Teacher a Break?

97 DMQ 6.37 Would You Give the Immobile VP a Raise?

98 DMQ 6.38 Would You Agree to Train Your Managerial Staff in the Major Functional Areas of Business?

99 DMQ 6.39 Which Charity Would You Support?

100 DMQ 6.40 Would You Allow Volunteering on Company-Time or Facilitate Volunteering on Employee-Time?

SS - The Principles You Have Used in Making Decisions

SS - The End: You are Now Ready to Run a Large Corporation

Finish Stage 6

24/72

7th and Final Discussion with Instructor

25

SLACK

26

PROJECT PRESENTATIONS
GRADUATION!

Virtual Business – Professional for Executives/Corporations

Virtual Business – Professional for Executives/Corporations
A Computer-based Simulation for Integrated Business Education

The Virtual Business – Professional (VB Pro) is a computer-based self-paced simulation that is designed for geographically dispersed users (students and executives) to individually and experientially learn the relevant and essential business concepts by running a virtual business. The targeted audience will generally be non-business/technical professionals (e.g., attorneys, engineers) in organizations and non-business students in colleges. VB Pro is also being adopted as a capstone course for business majors. Other VB simulations are available at www.precisedonline.com

 

The following concepts are learned from the simulation: 1) Conceptualizing and vetting a business idea including Internal and External Analysis, Break-even analysis, Target Market selection and development of a Value Proposition; 2) Basic Accounting and Finance culminating in Financial Statements – P&L, Stockholders Equity, Balance Sheet, Cash Flow and Financial Statement Analysis; 3) Marketing –  4Ps, Brand Management, SEO and Social Media; 4) Human Resources Laws and Principals; 5) Organizational Behavior – Culture, Politics, Conflict and Leadership; 6) Venture Financing and Capitalization Tables; 7) Exit Strategies – Mergers and Acquisitions, IPO; 8) Business Laws; 9) Research and Data/Digital Analytics; 10) Global Supply Chains and Management; 11) Economics; 12) Corporate Governance; 13) IT and Big Data. Details of the Learning Concepts covered in VB Professional can be reviewed from the Table of Contents of the book ALL THE BUSINESS Your CEO Would Love You to Know.

VB Pro incorporates specially created user-friendly software packages that can be used without learning programming. These software packages encompass spreadsheets, basic accounting and basic statistics. All these packages have been custom-programmed at the right place so that users can use them seamlessly and effortlessly as and when required. 

VB Pro simulation starts as an idea for a tiny restaurant with a gourmet burger as the product and continues until the business grows to be a publicly-traded diversified global company. This burger/restaurant scenario has been intentionally selected as almost everybody is familiar with such products/businesses. The knowledge gained from the simulations, however, is generalizable to other industries – services, B2B. 

The design of all the VB simulations is as follows. Participants individually run the business. While running the business, they are required to make decisions. To make these decisions, they need the applicable business theories. These theories can be accessed by them in real-time at their behest by clicking on an internal link. After reading the theories, users are tested for their understanding of the theories through Test Your Knowledge, TYK, questions. Following the testing, users make their own decisions – that are in the form of answers to Decision Making Questions DMQs

The general flow in every simulation is that it starts with Simulation Stories (SSs) that are short descriptions of situations in the virtual business and then moves on to one or more Learning Concepts (LCs). LCs are followed by a set of questions, TYKs. After completion of the necessary number of LCs and TYKs, there are one or more DMQs.

Making their own decisions means that they do not role-play any type of manager – they make decisions as they deem fit. For example, one user may believe that money is not the only critical criterion in a particular decision; employee satisfaction is too. The user is, therefore, allowed and expected to make decisions based on his/her beliefs. Unlike TYKs that have right or wrong answers, DMQs do not have right or wrong answers. A decision is good 1) if it incorporates all the information available at the time of making the decision and 2) if it is consistent with other decisions previously made. It is poor otherwise. 

Learning occurs on a need-to-know basis wherein the concepts from different functional areas are presented in an integrated fashion to the user as and when the need arises. Such real-time problem-driven learning leads to students knowing why the concepts are being learned and, hence, leads to better retention by the students. This real-time problem-driven philosophy can be best described by paraphrasing an old adage, “decision-making is the mother of information-seeking.” In other words, in the traditional model of learning, theories are taught, and then an effort is made to seek applications. In this flipped model of the simulations, users are immersed in an application, and theories are presented to help make decisions.

Besides the real-time problem-driven design of the VB – Professional, other design elements are: 1) All intricate or complex principles and theories are explained in an intuitive manner. For example, in the area of data analytics (a rapidly growing function), an intuitive understanding of why what and when statistical tests are required, if at all, and of how to interpret the results are emphasized. 2) Most business concepts and theories are presented in short modules of about 20 minutes. Finally, 3) Unlike traditional “simulations,” which are focused on one area and are suitable for applying knowledge gained from other courses, VB Pro educates participants cross-functionally across business disciplines as per Peter F. Drucker’s management philosophy. 

Metrics

Each Decision that is made has an Importance rating, and each of the Choices of a decision has a Quality rating. MDQI, Management Decision Quality Index, is an index that is used to measure the overall impact of the quality of all your decisions and of the interactions among the decisions. MDQI moves up or down with every decision made. This movement of MDQI is calculated as the product of Ix and Qx. Ix is the Importance of Decision x, and Qix is the rating of the Quality of the Choice i of Decision x. MDQI starts with a base of 100. Importance is measured on a 3-point scale, with 3 points being awarded to a very strategic decision and 1 point to a tactical decision with low downside risk. Quality of Choice is rated as -1, 0 or +1 to correspond to a Poor, OK or Good choice. 60 DMQs in Stages 1 to 5 are used to calculate MDQI.

Test-Your-Knowledge (TYK) Questions are based on the business concepts and theories that have been presented.  TYK questions appear after the Learning Concepts have been read.  They have right or wrong answers.  These answers are recorded and can be used to evaluate participants’ performance.

Artificial Intelligence (Natural Language Processing) is selectively used to gauge participants’ decision-making processes. Participants are asked to provide some pros and cons of their decision choices. These pros and cons are evaluated using NLP. After a certain number of pros and cons elicitations, it is assumed that critical thinking has been promoted. Users are no longer bothered by repeatedly asking to enumerate their thinking.

Being in the right place at the right time is part and parcel of any business. Many unforeseen environmental changes, unnoticed skills and personalities of new hires, or unforeseen interactions with influential individuals or corporations can help or hurt a business. Such events are called UUU (face Unforeseeable, Unpredictable, and Uncontrollable).  An index called Management Luck Index (MLI) has been created. To simulate whether a participant reaps profits by chance, the participant spins a wheel with different outcomes with different probabilities. There are several situations throughout the simulation where participants can win or lose by chance. The categories of outcomes, the probabilities, and the impact on MLI depend on the situation and are spelled out in detail when those situations arise.

Besides TYKs answers and MDQI, another quantifiable indicator can be used to monitor users’ business acumen.  This one relates to the profitability of the start-up in its initial stage, as judged by the student’s ability to predict demand on a daily basis. Profitability is calculated in Stage 2 only because the notions of “Economic Benefits” are ingrained in this stage only. This is keeping with the overall philosophy of the course –  once taught and learned, concepts are not recycled. 

The Profitability Score is based on wastage which is determined by the difference between the actual demand and purchased amount. (All ingredients used have to be fresh per your value proposition. The other cost and margin factors are more or less the same for all participants.) 

If Dij is the demand for individual i’s burgers in time period j and Pij is the amount purchased, the indicator of profitability used is (Dij –Pij)**2 . (The higher the (Dij –Pij)**2 the lower the profitability.) A Relative Profitability Index in % form is calculated. 

Estimating daily demand is a painstaking task, but it shows the difference between individuals on the attribute of being able to “keep one’s nose to the grindstone.” The demand is different for different price points and there are small random fluctuations across I and j.

Overall Performance can be judged on 3 factors, TYKs, MDQI and Profitability. Three percentages will be provided to you, one each for TYKs, MDQI and Profitability.



Users can view their progress and performance by clicking on “Dashboard” on the Navigation Bar on the left. Shown below are pictures of what a participant can see upon clicking on the “Dashboard.” Similarly, several reports are available for supervisors/instructors. These reports pertain to users’ progress, TYK performance, and DMQ choices. 

The DMQ reports are such that discussions can be readily facilitated by the instructor.

VB Pro also provides feedback to participants on their Principles-in-Use (PIU). PIUs are values you, consciously or unconsciously, hold and practice in an organization. 40 DMQs in Stage 6 are used to calculate the PIU scores. Eight PIU scores on four dimensions and the corresponding snake diagram are available as feedback on finishing Stage 6 of VB Pro.

Some Endorsements

VB Collegiate and Professional contain the essential content from a core of an MBA program. The rigor is ideally suited for time-starved engineers, attorneys, or other motivated individuals. 

V. “Seenu” Srinivasan

Adams Distinguished Professor of Management, Emeritus

Graduate School of Business, Stanford University

 

Cost-effective + highly efficient; integrated AI/NLP and statistical and business software.

Peter Letsou

Professor of Law and Former Dean 

University of Memphis Law School

I actually really enjoyed this. Optimal for theory acquisition and sharpening decision-making skills. I recommend group debrief sessions.

Corinne Dulles

VP, Optimal Strategix Group

Switzerland

Student Reports

Principles-in-Use (PIU)

Instructor Reports

Graded Questions x User Report

TYK DMQ Progress Report

Virtual Business Simulations for Academics

Virtual Business Simulations for Academics
A Computer-based Simulations for Integrated Business Education

Virtual Business Simulations are computer-based self-paced educational packages where learning occurs experientially and immersively. Unlike many existing business simulations, VBs are not minutely focused on enlivening certain specific academic concepts. VBs convey a comprehensive set of business concepts. Virtual Business Simulations are differentiated by the amount and type of content they have.

There are several VB Simulations, each targeted at a different usage situation/target market and imparting a different set of learnings.

SimulationTargetLearning

VB Professional

- Corps

- Univ

Professionals:

Technical, Specialists, and others seeking a refresher course.College Students in Capstone Courses

“Top 10” Must-have in “Top 10” Business-functions. Key Take-aways of a Core of an MBA Program. Details of the Learning Concepts covered in VB Professional can be reviewed from the Table of Contents of the book ALL THE BUSINESS Your CEO Would Love You to Know.

VB Select

Marketing Professionals,College Students in Marketing Courses

Profitable Value Propositions: Internal and External (3Cs) Analysis, Target Market Selection, Break-even, P&L, Balance Sheet, Cashflow, Shareholders Wealth.

VB Services

Services Marketing Specialists, College Students in a Services Course

Same as VB Select but specific to Services.

VB Account-based Marketing

B2B Marketing Specialist,College Students in a B2B Course

Same as VB Select but specific to B2B.

VB Entrepreneurship

Aspiring Entrepreneurs

From Start-up Idea to Exit Strategies (M&A, IPO).

VB Small

Aspiring Owners of Small Business

Essential knowledge to run a small business.

VB Marketing

College Students

Principles of Marketing.

VB Management

College Students

Principles of Management.

VBs are designed to ensure that all participants receive the same education irrespective of the decisions made. In addition, the simulations are designed to make certain that each and every participant learns. It is for this reason that the simulations are individually run and not in teams.

VB Simulations incorporate specially created user-friendly software packages that can be used without learning programming. These software packages encompass spreadsheets, basic accounting and basic statistics. All these packages have been custom-programmed at the right place so that users can use them seamlessly and effortlessly as and when required.

VBs start as an idea for a tiny restaurant with a gourmet burger as the product and continue to grow. The path and degree of growth is determined by the type of simulation. VB Pro, for example grows the corporation to a publicly-traded diversified global company. This burger/restaurant scenario has been intentionally selected as almost everybody is familiar with such products/businesses. The knowledge gained from the simulations, however, is generalizable to other industries – services, B2B.

The design of all the VB simulations is as follows. Participants individually run the business. While running the business, they are required to make decisions. To make these decisions, they need the applicable business theories. These theories can be accessed by them in real-time at their behest by clicking on an internal link. After reading the theories, users are tested for their understanding of the theories through Test Your Knowledge, TYK, questions. Following the testing, users make their own decisions – that are in the form of answers to Decision Making Questions DMQs.

The general flow in every simulation is that it starts with Simulation Stories (SSs) that are short descriptions of situations in the virtual business and then moves on to one or more Learning Concepts (LCs). LCs are followed by a set of questions, TYKs. After completion of the necessary number of LCs and TYKs, there are one or more DMQs.

Making their own decisions means that they do not role-play any type of manager – they make decisions as they deem fit. For example, one user may believe that money is not the only critical criterion in a particular decision; employee satisfaction is too. The user is, therefore, allowed and expected to make decisions based on his/her beliefs. Unlike TYKs that have right or wrong answers, DMQs do not have right or wrong answers. A decision is good 1) if it incorporates all the information available at the time of making the decision and 2) if it is consistent with other decisions previously made. It is poor otherwise.

Learning occurs on a need-to-know basis in that the concepts from different functional areas are presented in an integrated fashion to the user as and when the need arises. Such real-time problem-driven learning leads to students knowing why the concepts are being learned and, hence, leads to better retention by the students. This real-time problem-driven philosophy can be best described by paraphrasing an old adage, “decision-making is the mother of information-seeking.” In other words, in the traditional model of learning, theories are taught, and then an effort is made to seek applications. In this flipped model of the simulations, users are immersed in an application, and theories are presented to help make decisions.

Besides the real-time problem-driven design of VBs, other design elements are: 1) All intricate or complex principles and theories are explained in an intuitive manner. For example, in the area of data analytics (a rapidly growing function), an intuitive understanding of why what and when statistical tests are required, if at all, and of how to interpret the results are emphasized. 2) Most business concepts and theories are presented in short modules of about 20 minutes. Finally, 3) Unlike traditional “simulations,” which are focused on one area and are suitable for applying knowledge gained from other courses, VB Pro educates participants cross-functionally across business disciplines as per Peter F. Drucker’s management philosophy

Metrics

Each Decision that is made has an Importance rating, and each of the Choices of a decision has a Quality rating. MDQI, Management Decision Quality Index, is an index that is used to measure the overall impact of the quality of students’ decisions and of the interactions among the decisions. MDQI moves up or down with every decision made. This movement of MDQI is calculated as the product of Ix and Qx. Ix is the Importance of Decision x, and Qix is the rating of the Quality of the Choice i of Decision x. MDQI starts with a base of 100. Importance is measured on a 3-point scale, with 3 points being awarded to a very strategic decision and 1 point to a tactical decision with low downside risk. Quality of Choice is rated as -1, 0 or +1 to correspond to a Poor, OK or Good choice.

Test-Your-Knowledge (TYK) Questions are based on the business concepts and theories that have been presented. TYK questions appear after the Learning Concepts have been read. They have right or wrong answers. These answers are recorded and can be used to evaluate participants’ performance. Right answers are awarded +1 point but there are no negative points for wrong answers.

Artificial Intelligence (Natural Language Processing) is selectively used to gauge participants’ decision-making processes. Participants are asked to provide some pros and cons of their decision choices. These pros and cons are evaluated using NLP. After a certain number of pros and cons elicitations, it is assumed that critical thinking has been adequately promoted. Users are no longer bothered by repeatedly asking to enumerate their thinking.

Being in the right place at the right time is part and parcel of any business. Many unforeseen environmental changes, unnoticed skills and personalities of new hires, or unforeseen interactions with influential individuals or corporations can help or hurt a business. Such events are called UUU (Unforeseeable, Unpredictable, and Uncontrollable). An index called Management Luck Index (MLI) has been created. To simulate whether a participant gains or loses by chance, the participant spins a wheel with different outcomes with different probabilities. There are several situations throughout the simulation where participants can win or lose by chance. The categories of outcomes, the probabilities, and the impact on MLI depend on the situation and are spelled out in detail when those situations arise. MLI is generally not used for evaluating students though students seem to enjoy this feature.

Besides TYKs answers and MDQI, another quantifiable indicator can be used to monitor users’ business acumen. This one relates to the profitability of the start-up in its initial stage, as judged by the student’s ability to predict demand on a daily basis. These 3 indicators of performance are used to rank students among their cohort.

Students can view their progress and performance by clicking on “Dashboard” on the Navigation Bar on the left. Shown below are pictures of what a participant can see upon clicking on the “Dashboard.” Similarly, several reports are available for supervisors/instructors. These reports pertain to users’ progress, TYK performance, and DMQ choices.

The DMQ reports are such that discussions can be readily facilitated by the instructor.

VB Pro (Corp and Univ) also provides feedback to participants on their Principles-in-Use (PIUs). PIUs are values, consciously or unconsciously, held and practiced by individuals in organizations. Eight PIU scores on four dimensions and the corresponding snake diagram are available as feedback on finishing Stage 6 of VB Pro (Corps and Univ.)

Some Endorsements

VB Professional contain the essential content from a core of an MBA program. The rigor is ideally suited for time-starved engineers, attorneys, or other motivated individuals. It is great as a Capstone Business Course for both the Bachelors and Masters programs.

V. “Seenu” Srinivasan

Adams Distinguished Professor of Management, Emeritus

Graduate School of Business, Stanford University

Cost-effective + highly efficient; integrated AI/NLP and statistical and business software.

Peter Letsou

Professor of Law and Former Dean

University of Memphis Law School

I actually really enjoyed this. Optimal for theory acquisition and sharpening decision-making skills. I recommend group debrief sessions.

Corinne Dulles

VP, Optimal Strategix Group

Switzerland

Student Reports

Performance Rank Report

Principles-in-Use Index (PIUI)

Instructor Reports

Graded Questions x User Report

TYK DMQ Progress Report

Ranking Report

FAQs Virtual Business Simulations for Academics

Please review Virtual Business Simulations for Academics. Please contact bizdev@precisedonline.com for further exploration.)
What are Virtual Business Simulations? And how are they different from existing simulations for business courses?

Virtual Business Simulations are computer-based educational packages where learning occurs experientially and immersively. Unlike many existing business simulations, VBs are not minutely focused on enlivening certain specific academic concepts. VBs convey a comprehensive set of business concepts. Virtual Business Simulations are differentiated by the amount and type of content they have.

VBs are designed to ensure that all participants receive the same education irrespective of the decisions made. In addition, the simulations are designed to make certain that each and every participant learns. It is for this reason that the simulations are individually run and not in teams.

The four essential components that define the core of the Simulations are – Simulation Story (SS), Learning Concepts (LCs), Test Your Knowledge (TYK) questions, and Decision Making Questions (DMQs).

What are SSs (Simulation Stories), LCs (Learning Concepts), TYKs (Test Your Knowledge questions), and DMQs (Decision Making Questions)?

SSs are Simulation Stories. These are short descriptions of situations in the virtual business. Running a business means making decisions. SSs set the stage for decisions that have to be made. Decisions are in the form of choices in DMQs, Decision Making Questions. Decisions require business knowledge. This knowledge is presented as LCs (Learning Concepts). LCs are available at the behest of the participants in real-time. For participants to feel confident that they have understood an LC well, they answer a set of quiz questions called TYK (Test Your Knowledge) based on that LC. For example, there are 6 questions in the first TYK on the LC, Resources, Capabilities and Core Competencies and 5 questions in the second TYK on the Competitive and Environmental Analysis.

How does a VB Simulation progress?

The general flow in every simulation is as follows. A simulation starts with SSs and then moves on to one or more LCs. LCs are followed by a set of questions, TYKs. After completion of the necessary number of LCs and TYKs, there are one or more DMQs. In some VB Simulations, participants may be asked to provide some pros and cons for their decision choices. The idea is to promote some thinking behind decisions. These pros and cons are in the form of short answers which are, then processed using AI/NLP techniques.

It is well known that being in the right place at the right time is a phenomenon every individual or organization encounters. We can face Unforeseeable, Unpredictable, and Uncontrollable events in the environment. Some of these events may make our past decisions look smart or stupid. Such external events, called UUU, are present in some VBs and are simulated by a spin of a wheel.

What is the difference between TYKs and DMQs?

TYKs are based on the LCs. They just test the acquisition of knowledge. They, therefore, have right or wrong answers. For each right answer, 1 point is added to the participant’s TYK score. There are no negative points for wrong answers.

DMQs are questions that require judgment in applying the knowledge. DMQs do not have right or wrong answers but are evaluated for quality. A decision is good 1) if it incorporates all the information available at the time of making the decision and 2) if it is consistent with other decisions previously made. Not all DMQs are evaluated for quality. Some are used for inferring your values as you work in an organization as a leader, follower, and colleague.

Do wrong answers in TYKs have negative points?

No, there are no negative points for incorrect answers.

How are decisions evaluated, and what is MDQI?

Each decision that is made has an Importance rating, and each of the choices of a decision has a Quality rating. MDQI, Management Decision Quality Index, is an index that is used to measure the overall impact of the quality of all your decisions and of the interactions among the decisions. MDQI moves up or down with every decision made. This movement of MDQI is calculated as the product of Ix and Qx. Ix is the Importance of Decision x, and Qix is the rating of the Quality of the choice i of decision x. MDQI starts with a base of 100.

importance is measured on a 3-point scale, with 3 points being awarded to a very strategic decision and 1 point to a tactical decision with low downside risk. Quality of Choice is rated as -1, 0 or +1 to correspond to a Poor, OK or Good choice.

What are Consistency Scores?

Consistency Scores are points added or subtracted to your MDQI score based on consistency or inconsistency between 2 or more decisions.

What’s the philosophy behind Virtual Business Simulations? How does the philosophy of Virtual Business Professional (VB Pro) match Peter F. Drucker’s Management philosophy?

The philosophy behind each VB is educating in an integrated cross-functional manner. VB Pro, for example, presents 93 Learning Concepts in the following macro areas.

1) Conceptualizing and Vetting a Business Idea including Internal and External Analysis, Break-even Analysis, Target Market Selection and Development of Value Propositions; 2) Basic Accounting and Finance culminating in Financial Statements – P&L, Stockholders Equity, Balance Sheet, Cash Flow and Financial Statement Analysis; 3) Marketing – 4Ps, Brand Management, SEO and Social Media; 4) Human Resources Laws and Principals; 5) Organizational Behavior – Culture, Politics, Conflict and Leadership; 6) Venture Financing and Capitalization Tables; 7) Exit Strategies – Mergers and Acquisitions, IPO; 8) Business Laws; 9) Research and Data/Digital Analytics; 10) Global Supply Chains and Management; 11) Economics; 12) Corporate Governance; 13) IT and Big Data.

These Learning Concepts are presented as and when required as determined by the situation in the virtual organization. Such a presentation of LCs and DMQs makes VBs exhibit a holistic cross-functional pedagogy.

The overall learnings can be said to fall into the 3 essential categories, Economic Benefits, Development of Employees and Environmental Sensitivity. These are the same as what Drucker proposed as essential to the management of organizations. In general, VB Pro’s philosophy of satisfying the existing and future, expressed and latent needs of customers gels well with Drucker’s holistic management.

A similar argument can be made for other VBs. For example, VB Select focuses on integrating Marketing with Finance and Accounting by emphasizing Marketing’s goal of ultimately generating revenues.

Are there more than one VB Simulations?

There are several VB Simulations, each targeted at a different usage situation/target market and imparting a different set of learnings.

SimulationTargetLearning
VB Professional
- Corps
- Univ

Professionals: Technical, Specialists and others seeking a refresher course.

College Students: Capstone Courses

“Top 10” Must-have in “Top 10” Business-functions. Key Take-aways of a Core of an MBA Program.
VB SelectMarketing Professionals
College Students in Marketing Courses
Profitable Value Propositions: Internal and External (3Cs) Analysis, Target Market Selection, Break-even, P&L, Balance Sheet, Cashflow, Shareholders Wealth.
VB ServicesServices Marketing Specialists College Students in a Services CourseSame as VB Select but specific to Services.
VB Account-based MarketingB2B Marketing Specialist
College Students in a B2B Course
Same as VB Select but specific to B2B.
VB SmallAspiring Owners of Small BusinessEssential knowledge to run a small business.
VB MarketingCollege StudentsPrinciples of Marketing
VB ManagementCollege StudentsPrinciples of Management
When and how do I come to know which TYK questions I got right or wrong?

Immediately upon submitting your answers to the set of questions within one TYK, your answers are graded, and the right answers are then flashed on your screen. However, your instructor might follow a different process. Expiry dates may be set for each TYK. Right answers, in that case, are then available on clicking on a link right below the relevant TYK in the Table of Contents of your Simulation. The link can be clicked only once and right answered viewed only once. Note: Expiry Date implies that the TYK cannot be attempted after the expiry date. Unanswered TYKs get a 0.

When and how do I get feedback on my decisions or choices on DMQs?

Feedback on your decisions is available as soon as the instructor enables it. If already enabled, you will get the feedback as soon as you make the decision. Or else, it is available after the date it is enabled. Generally speaking, feedback for decisions is enabled after the stage is completed by all participants in a cohort.

How many TYKs and DMQs are there in VBs?

The number of TYKs and DMQs depends on the VB. VB Professional, the most comprehensive of all VBs, has 78 sets of Test Your Knowledge (TYKs), corresponding to the 93 Learning Concepts (LCs) with 604 quiz questions in all and 100 Decision Making Questions (DMQs).

VB Select has 17 sets of TYKs consisting of 85 questions and 15 DMQs.

VB Small has 31 sets of TYKs consisting of 203 questions and 29 DMQs

What is the maximum MDQI one can get?

The maximum MDQI one can get depends on the simulation. The minimum and maximum MDQI for VB Select is 84 and 133, for VB Small is 65 and 170, for VB Pro (Corps and Univ) is 72 and 217.

What is MLI?

MLI stands for Management Luck Index. It is well known that being in the right place at the right time is a phenomenon every individual or organization can encounter. We can face Unforeseeable, Unpredictable, and Uncontrollable events in the environment. Some of these events may make our past decisions look smart or stupid. Such external events, called UUU, are present in some VBs and are simulated by a spin of a wheel. The probability of the event occurring is determined by the size of the sector/pie. Participants are awarded points based on the impact of the UUU event on the organization.

MLI starts with a base of 100 and moves up or down depending upon the event’s occurrence and the type of event.

Does MLI count towards my performance rank?

In academic settings, including MLI as partly determining students’ grades might not sit well. Participants do enjoy getting luck points, though.

Can I revisit TYKs once submitted?

TYKs, once submitted, cannot be revisited to view or change the answers. The right answers can be viewed only once.

Can I change my decisions in DMQs once submitted?

No. DMQ choices cannot be changed once made.

Can I revisit an SS page anytime?

SS pages can be viewed as many times as desired. You can revisit any SS page that you have previously visited.

Can I revisit an LC page?

LCs can be viewed as many times as desired. You can revisit any LC that you have previously visited.

How do I come to know of my progress and performance?

You can obtain your progress and performance relative to others in the cohort by clicking on “Dashboard” on your left navigation bar. Your individual performance on TYK, MDQI, Profitability and MLI is also available on your Dashboard.

How is the overall rank in a cohort calculated?

Let Ai Bi Ci Di be the four raw scores on the 4 grading factors for individual i.  (A, B, C, D are TYK, MDQI, Profitability and MLI.) Each score is standardized to SAi SBi SCi SDi by subtracting the mean and dividing by the standard deviation. For example,


The sign of SCi is flipped because for Profitability Score the larger (Dij –Pij)**2 implies lower profitability. 

Overall Score for individual i, Gi=w1SAi + w2SBi + w3SCi + w4SDi  

Gi. are rank-ordered.

Recommended weights: 

40 (TYK), 40 (MDQI), 20 (Profitability) and 0 for MLI. However, MLI can be used if the instructor/supervisor so wants. Weights can be adjusted if Profitability is not part of a simulation that is used. The justification of 40-40-20 is as follows. There are 100 DMQs in all in VB Pro. 60 DMQs are part of MDQI and 40 part of PIU. The profitability calculations require 30 Quantitative Decisions, i.e., the daily amount to be purchased. This 60/30 qualitative/quantitative decisions split provides the logic of Profitability weightage being half of MDQI. The 40-40 MDQI-TYK split is based on the belief that judgment (application of knowledge) is as important as the acquisition and understanding of knowledge.

How is the Profitability Score Calculated?

The Profitability Score is based on wastage which is determined by the difference between the actual demand and purchased amount. (All ingredients used have to be fresh per your value proposition. The other cost and margin factors are more or less the same for all participants.) 

If Dij is the demand for individual i’s burgers in time period j and Pij is the amount purchased, the indicator of profitability used is (Dij –Pij)**2 . (The higher the (Dij –Pij)**2 the lower the profitability.) 

Participants need to focus on estimating demand as the weightage for profitability is not insignificant. Estimating daily demand is a painstaking task, but it shows the difference between individuals on the attribute of being able to “keep one’s nose to the grindstone.” The demand is different for different price points and there are small random fluctuations across i and j.

What are AI/NLP Inputs?

To ensure that individuals think through before making decisions, participants are sometimes asked after they have made a decision to list the pros and cons of their decision. These pros and cons are in the form of short sentences. The pros and cons are evaluated using Artificial Intelligence and Natural Language Processing. Pros and cons are asked for some decisions only. This is in keeping with the spirit that VBs are educational tools. Once lessons are taught, they are not repeated more than necessary.

Are AI/NLP inputs presented in all VB Simulations?

Some VB Simulations do not have AI/NLP input opportunities.

What are UUU?

It is well known that being in the right place at the right time is a phenomenon every individual or organization can encounter. We can face Unforeseeable, Unpredictable, and Uncontrollable events in the environment. Some of these events may make our past decisions look smart or stupid. Such external events, called UUU, are present in some VBs and are simulated by a spin of a wheel.

Are UUU (Unforeseeable, Unpredictable, Uncontrollable) Events presented in for all VB Simulations?

No. They are present for VB Select, Small and Pro (Corps and Univ) only.

What is the role of an instructor in VB Simulations?

An instructor facilitates virtual or face-to-face discussions on individual decisions or interactions among a few decisions. Examples of such decisions are the choice of location of your first restaurant or pricing of your burger. Many reports are available to the instructor around the decisions made by the participants. Instructors can find out from these reports who made what decisions or a collection of decisions. The instructor can then facilitate a discussion by calling on participants to justify and discuss the rationale of their choices. 

Mostly, a discussion will be held at the end of each stage.

Besides the feedback on decisions, instructors provide participants with personal feedback based on PIUs (Principles-in-Use). Principles-in-Use are values you, consciously or unconsciously, hold and practice in an organization.

Instructors also nudge stragglers. Discussions at the end of a stage cannot be held if all participants are not at the same point in the simulation. To this end, instructors might set expiry dates on Test Your Knowledge quizzes. After expiry, TYKs can no longer be attempted.

An instructor also answers all questions about Learning Concepts, Decision Making Questions, Test Your Knowledge quizzes, and the flow and UI of the simulation.

What kind of reports and information are available to instructors?

The following reports are available to instructors. Instructors are trained on the usage of these reports. User Management Report; TYK & DMQ Progress Report; TYK MDQI Scores; TYK Stagewise Cumulative Report; Graded Questions x Users Report; Ranking Report; Profitability Report; One Way Report on Decision; Decisions Interaction Report; and Custom Decisions Interaction Report.

Some key reports are shown below.

Graded Questions X User Report

TYK DMQ Progress Report

One-way Decision Report

Two-way Interaction Report

What are PIUs?

Principles-in-Use are values you, consciously or unconsciously, hold and practice in an organization. Eight PIU scores on four dimensions and the corresponding snake diagram are available as feedback on finishing Stage 6 of VB Pro (Corps and Univ.)

Are PIUs available in all VB Simulations?

No. PIUs are available for VB Pro (Corps and Univ) only.