GoVenture World Global Business Game — Demo for Educators and Trainers

welcome to the go venture world demonstration for educators go vinter world is the most realistic and authentic business education an entrepreneurship training experience ever created it's part MOOC part game part simulation but it's all about experience and gaining experience so go venture world is a global business game that reimagines how business education can be delivered measured assessed and credentialed players run virtual businesses while competing and collaborating with others around the world players can start manufacturing retail or transportation businesses they can choose to be lawyers protecting intellectual property and mediating disputes between players running businesses in the world they can be marketers helping companies promote their products and services and doing real-world marketing inside the game and they can be investors providing debt and equity financing to other businesses or trading stocks and bonds on the security markets the game uses a real world map and economics now let's take a look at how the game actually works covet your world is open for anyone around the world to play all you have to do is go to go venture world calm and launched your company by entering a company name and your email address and then following the step by step process to get started if you've already created a company you can come back and log in at any time to continue your progress the game is always running whether you're logged in or not so you only have to come back and log in to make decisions and continue building your business new players have to complete start-up business training takes about 15 to 20 minutes that can review the tutorial to learn how the game fundamentals work once the tutorial is completed players can now begin making decisions about their business now before they start an operating business players can review the interface check out the real world map see we're competing businesses maybe check out the economics of each country and they can also buy stocks and bonds issued by other companies what we're looking at here is the boardroom screen here we can see the name of our business our logo how much cash we have available or equity our bxp bxb represents business experience points so every time we take positive action in the game we're awarded business experience points or vxp and some activities require us to have earned a certain amount of exp before we can undertake those activities along the top is our progress window so it serves as our current date and time in go venture time so go venture world simulation advances 12 times faster than the real world so 2 hours of real-world game time as a day in go venture world a month of real-world play time is one year in your go venture world business so on the boardroom screen we can review tutorials of help we can review the world map and bring that we can see where various holding companies are already established by their players we can use a legend to turn on other icons and turn off icon so we can see where manufacturing and retail businesses are setting up we can also roll over each individual country and check out the market demand and other economics that may be available within those countries

we can bring up business reports so we have access to all the financial reports that a real business owner would have access to like balance sheet P&L or income statement cash flow we also have market research reports and so on players can collaborate using a built-in chat or a mail messaging system

we have a virtual smartphone we can turn on our smartphone to access additional features within the game including achievements and so on to help players learn the fundamentals of business there's a comprehensive help function built directly into the smartphone so as we navigate to different areas of the business with help turned on our virtual business advisers will give us business advice as we play we also have challenges challenges our mini games and activities that players can undertake in order own business experience points and all the challenges are intended to help players learn certain business fundamentals from basic terminology to processes and other valuable information we also have courses and special offers so if players finds themselves uncertain about key business fundamentals like reading financial statements or how to negotiate better deals they can take a mini course which generally only lasts 20 to 40 minutes and gain the knowledge that they need to be more successful in the game and in the real world of business we navigate the game using the building menu along the left for example since we don't have a business actually operating we can go directly to the world markets and check out the stock market and these are actual stocks issued by other businesses other players run other businesses in the world and we can buy and sell those stocks on the stock market those players can also decide whether they want issue dividends in order to improve the value of their stock we can also review bond markets and each individual company can also float bonds to raise money and we can buy those bonds and earn interest on those investments the world markets also provides us more information about government policies duties and taxes in various countries we can review trademarks so players can hire lawyers who are other players playing the roles of lawyers who can register trademarks that can mediate disputes that can act as escrow agents and more the core of the simulation is actually operating your own business so when you're ready to do so you can complete a second tutorial which explains how an operating business functions and that takes about 10 or 15 minutes to review that tutorial and then you can start an operating business for example I have a manufacturing business that's located in Romania and it's it's an automotive manufacturing business and you can choose a few different types of products to manufacture automobiles smartphones pharmaceuticals our current choices so I'm operating an automotive manufacturing business and my manufacturing line is actually running right now and I can see cars being manufactured so I can scroll down and I can make a variety of decisions by using the boxes below for example I can review my production and I can see that I'm currently have a production in process if I didn't have production in process I can issue a production order and cars would immediately begin to be produced now it might take a few hours or even a day or longer for my production to complete so I could issue a production order now but just simply by clicking a button and then log out go back to my daily life and maybe come back some hours later or even the next day to find my inventory available and then be able to sell that inventory other choices I can make are investing in the manufacturing or research and development related to my product by investing in these areas and turning on additional manufacturing or Rd stations and improves the features and the quality of my product which makes my product more valuable in the marketplace I can invest in efficiency which allows me potentially to manufacture more products in a shorter period of time by investing in raw materials or automation and so on I can also review my orders once I start selling and if I get orders I can decide when to ship my products I can review sales that are happening in real time through other retailer so an important element of going to world is that players have to collaborate to set up supply chains so I'm a manufacturer I cannot sell my product to the end consumer I can only sell my product to a retail business which in this case would be a car dealer and then the car dealer can sell the product to the virtual consumer so I'm forced interact and collaborate and set up the supply chain with car retailers or car dealers and then I can monitor their particular sales of my products and see how successful sales of my product are once I have enough product in inventory let's take a look at how we can sell it so we can go up to management and sales and we have two choices we can sell products on the open market or a direct sale so direct sale is where I contact another player in the game so maybe it's somebody I actually know in the real world or maybe it's someone I don't know but I can do some research on them and discover them within the game and reach out to them and make them an offer to sell my cars my products to them the open market allows me to post products on an open exchange so I don't have to directly communicate with another player I can post my products on an open market and then other players can come and buy my products from this market based on a set price that I've already set now if I do if I use the open market sometimes it can be a little bit more convenient but tends to cost a little bit more because there's broker fees that I have to pay and I have to wait to see if my product is going to sell and I'm competing against a number of other postings of products that other players have have at it in most cases it makes much more sense for me to set up direct supply change with specific players and of course that takes a little bit extra time to do so the game does allow me to move more slowly at the beginning if I choose by not directly interacting with others but then eventually if I want to do even better in my business I will want to make that interaction happen so this is the open market now the regardless of the type of product I'm selling I can find it here on the open market now the other types of businesses I can operate our retail businesses so we talked about potentially a card dealer there's one option or pharmaceutical business or a smartphone business as well and I would have I can operate multiple businesses so as I expand my profitability and I gain more cash I can also gain more cash by requesting a loan from an investment bank which is another player who's running an investment bank and provides loans or equity or even underwrites an IPO so you can actually do an initial public offering of your company to raise money but to do so you have to find another player an investment banker who was willing to underwrite your IPO again very authentic just like in the real world so I can manage multiple businesses different types of businesses we also have transportation businesses so when I do sell a product in a direct sale to another business I have to arrange for shipping of that product and shipping cost money and it also takes time so the further our businesses are from each other so for example if I'm manufacturing in China I don't want to sell in the United States that's quite a bit of distance so it's going to cost me more to ship my products and it's going to take more time for those products to be delivered and I can choose different transportation companies which are also run by other businesses and they're competing for your business by offering different prices and different services so different transportation businesses will serve different routes within the world map and will offer different shipping speeds and different prices so even the transportation business is highly competitive in the game we can go to the marketing screen and conduct marketing campaigns so we can do direct mail campaigns which are like email campaigns which are sent to players in the game and we have an email system that's built inside the game so you can do direct mail within the game and we also have banner advertise which is based on an auction system so what you're seeing here is one-hour time slots so for example this one is midnight to 1:00 a.m. and then 1:00 a.m. to 2:00 a.m. and and so on for all 24 hours in the day and players are bidding on these ad spots for example I can click on here and I can see that multiple players have bid on this particular ad spot and the winning bid for this time slot is 5000 G's and so you can see that players are bidding on future ad spots that are yet to come once you win an ad spot you can design and banner ad inside the game itself or you can do something externally and then it will appear right above the smartphone here and so players are actually designing ads to target and attract other real players so it's highly authentic advertising method and you're learning about real-world advertising by trying to affect the actual behavior of real human players we can go to the finance section and here we can review invoices so when we make a sale and a purchase order is created and issued and invoices are created and issued so it's up to players to pay each other so it's quite possible that I could ship my products my cars to a retailer and that retailer may not pay me as quickly as I'd hope and then I have to take steps to actually request that payment eventually if a payer if a player does not want to pay another player you could hire a lawyer to try to mediate that dispute and you can do lawsuits so if players are not acting with full integrity players can hire lawyers in the game to sue other players and there's even more to the gameplay but the one other thing we should look at is assessment so as we play the game the game is actually assessing the decisions were making and the success that were evening and we have dozens of achievement badges that are awarded based on the accomplishments that I achieve in the game so you can see the variety of things that are measured on and even that's in color or has little numbers next to it are things that I've achieved and some of the some of the achievements can be achieved multiple times so there's actual date stamps that identify when each item is achieved we also have leaderboards as well for world leaders for example I can see who is has the most profit in the game and how I rank amongst the game leaders and this achievement system is used to assess and grade the performance of players within the game itself so we have an external system that also allows me to track a group of players so for example if I made an instructor and I have 30 or 40 or even hundreds of students who are playing in the game and those from and my students may be competing against other people around the world we have a special groups dashboard that allows me to just monitor my students so they're still competing and playing in the global game but I have a dashboard that makes it easy for me to see accomplishments of just my students and then I can easily assign grades and do other assessments based on those achievements so player behavior is actually tracked measured assessed and credentialed directly in the game whenever players need help we have a help function that brings up videos we have a very detailed very comprehensive user guide and a player community where players can help each other and plan game admins can also assist wherever is needed so that's go venture world a highly authentic global business game that reimagines how business education can be delivered measured assessed and credentialed