Description
Multimarket is an engaging, high-energy introduction to the risks and rewards of international trade. It raises awareness of how commercial behaviour can differ across markets and illustrates how changes in economic, political and financial circumstances can have dramatic effects on your ability to operate internationally.
Objectives
Multimarket participants will be able to:
- Identify the problems and opportunities attached to conducting business abroad.
- Appreciate the need for careful analysis of the risks versus the probable rewards.
- Understand the benefits of making timely decisions in volatile markets.
How it works
Each team operates a company which manufactures and sells agricultural machinery for the domestic market, and they are tasked with the development of an expansion strategy into international markets. There are opportunities in three fictitious export territories, each of which has its own currency, and unique political and economic conditions. Players have to weigh up the risks and possible rewards of expanding their manufacturing and/or sales operations into these new territories and must be able to adapt to changing circumstances as each round is played. Will they succeed in repatriating any profits, or will currency restrictions or despotic rulers prevent them? Will they perceive dangers and opportunities, and react to changes in exchange rates, investment grants and political activities more successfully as the game unfolds?
What participants will be doing
Studying written texts giving details of the potential export markets, submitting their commercial and operating decisions in writing, and deciding on their actions for the next rounds based on their results and any new market information which has been revealed.
For what levels is it appropriate?
All managerial levels, and for students of management and business principles.
Structure of the activity and time requirement
Multimarket is structured over a number of rounds, between one and 10. We recommend a minimum of 4 rounds.
The rounds can be run concurrently, as part of a course or conference, or split over a longer time period.
Each period will need between 60 and 90 minutes.
The cost
As a guideline, here are two different pricing options:
Face to face in-house event with facilitation from Elgood
We provide the simulation, all documentation and facilitation. A one-day event costs in the region of £1,200 plus VAT and expenses.
Please inquire about prices if you would like to split the rounds over several days or weeks.
In-house event using web-based software and remote facilitation by Elgood
This simulation can be run remotely with the players conducting their meetings and entering their decisions online. We provide access to an online portal for entry of the decisions and receipt of updated documents.
A remotely facilitated event with 4 rounds of play, with up to 6 teams participating, costs £350.00 plus VAT.
Please contact us for further information or download the Multimarket information sheet.
