Ethics in GoVenture Business Simulations
GoVenture business simulations enable students to experience ethics within the context of business management decisions and business strategy.
GoVenture provides an ideal foundation for exploring the triple bottom line and starting conversations about business ethics and helping students to articulate their own feelings about business ethics.
Ethics is a component in two GoVenture business simulations:
Students choose how ethically to run their businesses. There is a sliding scale of options between Strong Ethics and Weak Ethics. Similar to the real world, ethics can be a grey area, where companies with strong ethics may fail, while companies with weak ethics can be financially successful.
Strong ethics improves Customer Loyalty and Brand Equity, but also increases Operating Costs (as much as 30%) due to the extra costs required to maintain such practices.
Weak ethics saves money in the short term (as much as 30% of Operating Costs), but may reduce Brand Equity while increasing the likelihood of costly lawsuits in the long term. The longer a business maintains weak ethics, the more likely that a lawsuit will occur.
In this highly authentic business simulation, ethical practices are more than simulated, they are real. Players interact directly to negotiate supply chain agreements, payment terms, loan agreements, stock and bond issues, and other business relationships that depend on trust. This trust can be broken when a player does not act in accordance with agreements made.
Players can take on the role of Law Firms to register trademarks, mediate disputes, file and defend lawsuits, and more. Players can engage Law Firms to represent them.
The game includes Social Responsibility where players can invest in a number of social causes. Investments are considered donations and are tax deductible. Companies are publicly ranked by their investments in Social Responsibility and may gain a sales advantage.