The BEST Game is entrepreneurship tool using the CEFE approach which is a learning by doing methodology. The objective of the BEST Game is to give participants in the training seminar an opportunity to experience the effects of their business decisions in a simulated environment.
The BEST game has three sequential modules, described below. Each module has learning objectives set at a higher level than the previous one. In each module, the participants are divided into three teams which compete with each other. The duration of play for each module is between one and a half and two hours.
Module 1: Introducing the Basic Business Cycle
This module is designed to enable participants to learn:
- The basic Business cycle
- How to plan the best use of capital for conflicting demands
- How to maintain a positive cash flow
- The importance of keeping records
In this module, each team runs a manufacturing business. The business activities such as planning, family spending, buying for business, making the products and selling take place in four weekly cycles. Each activity takes place on an assigned day in each week and the facilitator directs the business events and life events. Life events present real life dilemmas for entrepreneurs such as unexpected family expenses, special offers for materials, changes in market, etc. The objective of each team is to make maximum profit at the end of the month.
Module 2: Understanding demand and supply
This module is designed to enable participants to learn about:
- Estimating the market size and demand
- Planning production and purchase to meet the demand
- Costing to help in negotiating prices
- Record keeping to help financial planning and keeping track of credit sales
- Business planning to maintain a positive cash flow and manage credit
In this module, two teams become manufacturing businesses competing with each other and one team becomes a retailer competing with Sally' store. Sally's store buys a fixed quantity at a fixed price each week. The retailer buys stock from the manufacturers which it sells to the local market. The demand in the local market expands or shrinks according to when the people get their salaries. The manufacturers can sell to the retailers and or to unknown buyers represented by the facilitator on credit thus risking non payment of debt.
Module 3: Reaching your customer and improving your business
This module is designed to expose entrepreneurs to a wider range of real life business management situation.
In this module, two teams run manufacturing businesses and one team runs a retailing business. The manufacturers make two products - a standard hat and a tourist hat. The retailer can reach the tourist market by using the 4Ps and plans accordingly. The manufacturing team negotiate orders and prices with the retailer. All three teams are dependent on each other for the success of their businesses just as in real life. In order to succeed, each team needs to make buying and selling decisions involving costing principles, control their stock, keep proper records and use the records to plan cash flows.
Module 3 can be played three times so that each team is given a chance to experience being the retailer. During each subsequent play, the facilitator may introduce different events which emphasize different aspect of business management techniques.
