engleski

Business dynamics simulator for startups, SMEs and new projects

The aim of the paper is to show result of uses of the Business Dynamics Simulator on the population ofthe sixty students. The simulator helps in: (A) designing 5-years pro-forma financial statements for rapidbusiness plan creation, (B) simulating strategic decisions to improve survival rate and support growth, (C) producing fundamental analysis and company/idea valuation, (D) fostering entrepreneurialeducation, training & research, in risk-free, enjoyable, realistic and interactive simulation environment.The usability of Business Dynamics Simulator is tested on 40 students at Vern’ University of AppliedSciences business school in Zagreb and 20 students of Founder Institute-world's largest entrepreneurtraining and startup launch program.The main conclusion is that the use of simulators can improve entrepreneurial cognition by identifyingthe impact of resource bundling and the management of information to realize the opportunities thathave been identified in the processof entrepreneurship.

business simulation ; computer modelling ; entrepreneurship ; scenario analysis

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