Basic Business Knowledge : Money$mart™
Money$mart™ is the newest, most comprehensive financial simulation available that teaches employees the basic numbers of business.
Participants learn what affects income and asset creation -- and how their own actions impact a company's financial success. By the end of the session, they will have created balance sheets, income statements, and other financial indicators - with no previous financial training - in just half a day.
Money$mart™ is the only business simulation capable of handling any manufacturing, service, or healthcare environment without requiring expensive, elaborate workbooks or hefty presentation fees.
We present nationally and internationally to audiences of up to 100. When we come to your organization, hotel meeting room, or other meeting site, all materials are provided. All you need is a classroom setup, an LCD, and a screen.
Customized to Your Industry Segment
- Money$mart™ Manufacturing - Participants experience three years in the life of a factory stuggling to overcome inefficient cash management, high debt, and poor sales.
- Money$mart™ Professional Services - Participants experience three years in the life of an engineering firm dealing with inefficient cash management and poor sales.
- Money$mart™ Healthcare - Participants experience three years in the life of a healthcare clinic dealing with a huge payroll, a lack of profitable patients, and shifts in the healthcare industry.
What Participants Learn
- How balance sheets, income statements and other indicators help identify problems and opportunities in any organization
- Problems inherent in not knowing and understanding the numbers
- The tremendous and invisible costs of running a business
- What's important to the bottom line -- critical elements affecting profitability
- How common decisions and strategies can affect the balance sheet over time
How Participants Benefit
- A shared understanding of financial and management concepts and vocabulary
- See how the numbers have a huge impact on profitability and competitive advantage
- Understand the reasons why company financial decisions that didn't make sense in the past really were the right thing to do, or vice versa
- Improve understanding of cash flows
- Develop greater trust in senior management decision-making
- Develop new ideas to reduce costs and allocate cash
- Learn key benefits and drawbacks of inventories
- Understand how everyday transactions translate into financial terms
- Discover new ways to make decisions more financially effective
Who Should Participate
Money$mart™ is an effective accounting game for any company that has a project-oriented environment requiring cost control and surplus creation. It is ideal for those who desire basic or refresher training in business fundamentals with a fun format and no prior knowledge necessary. Money$mart™ is ideal for:
- Leadership Development
- Professional Association Conferences
- Front Line Employees
- Government and Agency Employees
- Executive and Managerial Development
- Support for New Financial Initiatives
Money$mart™ starts with a brief discussion of basic business logic, then small teams of 4-6 people follow along one year in the life of a company. As these first-year results aren't particularly spectacular, participants discuss ways to improve performance through better resource utilization. Over the next two years, participants see how the company's profitability and productivity increase. Everyone compares the effects of management decisions in seemingly unrelated areas and tries to improve overall cash flow and net worth.
In debrief, participants review key learnings and generate ideas for improvement at their own company. The positive impact of these discussions is often astonishing.
- Welcome and Overview
- Basic Business Terms and Dynamics
- Year 1
- Year 2
- Year 3
- Discussion and Implications
- Summary and Evaluation