Participating in the "Maven" game helps participants deal with a complete set of variables that are required to develop outstanding decisions to succeed in the business world.

Tools and resources:

• PC / Laptop
• Internet connection
• Student Manual

How to play:

The Maven program uses mathematical formulas and rules to simulate real-world business decisions. As a player in Maven, you will make decisions about marketing two products in three sales territories per quarter. Your objective is to analyze your results, identify errors, and modify decisions to optimize performance. The program challenges players to improve their decision-making and analytical skills in a safe yet authentic business environment.

Maven's three stages in a decision-round:
There are three stages involved in working with the Maven simulation:

1. The Forecasting Stage.
   You enter decisions to test "what if?" assumptions and then modify those decisions until you arrive at a set of decisions you think are acceptable.
2. The Processing Stage.
   The program assesses the decisions of all competitors to determine market share allocations for each company and the consequent profitability of each company. (In Maven Team, other participant-run teams supply competitors' decisions while in Maven Solo the computer generates competitors' decisions.)
3. The Results Stage.
   In the Results Stage, you analyze the results of your processed decisions, looking at your company's reports to evaluate your actual performance versus what you anticipated during the Forecasting Stage. You then use your analysis in a new Forecasting Stage as you begin the next decision round.

 

By working with Maven Team and Maven Solo, you will gain the following experiences and knowledge:

• Experience in managing a marketing-driven enterprise and dealing with the problems and issues that arise in that environment.
• Understanding the importance of a sound marketing plan in guiding marketing decisions, including developing a common vision and strategy for product development, and the need for tactical planning to adapt to changing conditions.
• Acquiring experiences to enhance your understanding of marketing concepts and theories.
• Understanding the relationships between marketing, operations, and finance, and how they affect each other
• Understanding the connections between financial statements such as the cash flow statement, the income statement, and the balance sheet, and their relevance to marketing reports.
• Experience in the dynamics of competing in a constantly-changing market landscape and performing market research to stay ahead of competitors.

By using Maven Team and Maven Solo, you can expect to:

• Enhance your skills in planning and running a small business.
• Make informed decisions in areas such as marketing, finance, production scheduling, and inventory control.
• Utilize "what-if" scenarios to test your decision-making abilities and see how your choices would impact your business.
• Monitor the outcomes of your decisions and adjust your approach accordingly in the upcoming quarters of operation.