10. Assessment & Monitoring #

1. You can share your login info (username/password) — this gives the TA full access as if they are you.


2. The TA can be set up with their own instructor account using their own login.  You can then use the SHARE REPORTS feature on your instructor dashboard (in the Actions Tile) to give them VIEW access to all of your simulation reports.  The TA does not have any access to your account, they can only view all of the simulation reports.


3. The TA can be set up with a student account.  This allows them to play the simulation as a student just like the other students. This also means they will affect the market, which could be problematic.

1. Require students to save decisions every period. Missing a period results in a lower grade. This is the best approach when scheduling is not an issue and students will have plenty of time to make their decisions.


2. Require students to save decisions a minimum number of periods. This is useful if students may not have time to make decisions every period. For example, if a simulation is advanced every day for 6 consecutive days, you may only require a student to save decisions on at least 4 of the 6 days in order to get full marks. This provides students the flexibility to fit the simulation around their schedules. Some students may play only 4 periods while others may play all 6.

The SAVES MADE & MISSED REPORT automatically tracks the number of periods in which students saved their decisions and you can generate a score automatically, as shown below. Find this report under VIEW ALL REPORTS. Saves Made is also includd in the RUBRIC REPORT.

• A single overall score is provided for each student based on a scoring metric selected by the instructor, and students are ranked according to this metric.


• Scoring metric options include Net Profit, Share Price, Revenue, Units Sold, Market Share, Brand Equity, Advertising Effectiveness, Brand Equity, Human Resources, and Employee Morale.


• Net Profit or Share Price are the recommended scoring metrics.  Other metrics should only be used if a simulation is being used for a specific instructional purpose.

• Top 10% earns 5 points
• Top 25% earns 4 points
• Top 50% earns 3 points
• Top 75% earns 2 points
• Top 90% earns 1 points

The metrics are visible in a number of reports, including the Status Report, Performance DEBRIEF Report, and Coaching Report.

• The Rubric Report is automatically generated and can be viewed by the instructor at any time.  Students can view their own Rubric Reports (but not the data for other students) from within the Performance Report.


• Instructors may also choose to create a custom grading formula by copying GoVenture reports and pasting them into Excel or other spreadsheet.

A maximum of 2,500 characters (approx 400 words) can be entered in the Journal for each period of a particular business. To view student Strategy Journals, in the Manage tile choose ALL REPORTS > Performance Reports and scroll down to the very bottom of the report.

Implementation

• The Strategy Journal is built into GoVenture CEO and students can access it under the MANAGEMENT screen when playing.


• Instructors can make the JOURNAL and/or NOTES features optional or required by setting this option when the simulation is being created.  Instructors should also inform students of their expectations.


• When a feature is set to required, students are unable to SAVE their decisions in the period unless and until they complete the Strategy Journal.  A warning message is displayed to prompt them to complete the Strategy Journal.


• When the NOTES feature is set to required, the simulation can only detect if text has been typed into the NOTES field.  The text is not analysed in any way for quality or minimum quantity.


• Instructors can view student Strategy Journals using ALL REPORTS > Performance Reports  (scroll to very bottom of report)


• Instructors and students can view the COACHING REPORT to assess how aligned business results are to the strategy identified in the Strategy Journal.


• A chart shows if each strategic item is On Target, Close to Target, or Off Target.

• Instructors may choose to have students prepare written, live, or video presentations or reports on their experience playing the simulation.  


• A Student Experience Report template is available for instructors to customize and provide to students.


• 21 questions are included (samples shown below) which can be downloaded, edited, and sent to students (using your school LMS or other method).


• Consider including limits on the length of each answer or the entire report.  


• Templates are available for written report and slides.


• These links are for instructors— do NOT share these links with your students:
  📄REPORT Version
  📄SLIDES Version
  
  How Students Can Use AI With GoVenture Simulations View Activity

• If students are playing a simulation in teams, you can have them submit peer evaluations of their teammates' performance using the Team Evaluation. This may be useful for identifying strong and weak contributors for grading or other purposes. Students do not see each other’s evaluations.


• Instructors may want to consider having students complete the Team Evaluation multiple times so that underperforming students can be made aware of their deficiencies with sufficient time to improve.


• Instructors must turn this feature on to use it — in the Manage tile, choose Performance Quizzes


• The Team Evaluation provides a points system an alternative scoring method with 1.5 points for Great, 1.0 points for Good, and 0 points for Not Good or Don't Know.

• The Competency Quiz is a multiple-choice test created by the GoVenture CEO system. The Competency Quiz is personalized for each student. Students must gather answers from their actual simulation results, in addition to answering questions on business theory.  The Competency Quiz can be required for each unique simulation that is played, but can only be taken by students once the simulation has ended.

 
• Instructors may want to consider including the Competency Quiz after a practice simulation to help students discover early on where they may need improvement. If used for such purpose, a small participation (not performance) grade should be awarded for completing the Quiz.


• Time Required— The time varies based on the number of question modules enabled. See the type and number of questions in the table below.  On average, 1 minute per question should be allocated for completion.


• Global Statistics are available to allow instructors to compare their student performance to other students around the world.


• Instructors must turn this feature on to use it — on the Instructor Dashboard in the Quizzes tile, choose Manage Quizzes.

1. Identify the specific Simulation Number for the student to use.


2. Identify the Due Date for the activity to be completed.


3. Give students directions on how to submit the completed report file back to you.


4. Download the document and make it available to students.

• It may be best to assign the activity before the simulation ends so that students can check how Ethics affects Operating Costs in the simulation.


• The activity will take students up to 1 hour to complete.

1. Identify the specific Simulation Number for students to use. Use a simulation with the Balance Sheet and Profit & Loss Statement turned OFF (hidden) — this is a setting that can be set when creating or editing a simulation (instructors can use EDIT SETTINGS to show or hide the report at any time).


2. Identify the specific Periods in the simulation to use — the spreadsheet can accommodate up to 6 periods.


3. Identify the Due Date for the activity to be completed.


4. Give students directions on how to submit the completed Excel file back to you.


5. Download the Excel file and make it available to students.

• This is a personally-customized learning activity because it requires students to use financial numbers from their own businesses. Each student will have different numbers.


• Instructors may choose to grade the activity by validating the numbers manually by comparing them to the financial statements found in GoVenture CEO > All Reports > Performance Reports (scroll down the report to view the financial statements).  Note that the financial statements have to be set to be ON (visible) using EDIT SETTINGS of the simulation. otherwise they will not appear in the Performance Report. Note also that the Profit & Loss Statement may be offset by a Rounding Adjustment value shown in the statement.


• The Excel spreadsheet is protected so that students can only input the required numbers.

1. Identify the specific Simulation Number for students to use.


2. Identify the specific Periods in the simulation to use — the spreadsheet can accommodate up to 6 periods.


3. Identify the Due Date for the activity to be completed.


4. Give students directions on how to submit the completed Excel file back to you.


5. Download the Excel file and make it available to students.

• This is a personally-customized learning activity because it requires students to use financial numbers from their own businesses. Each student will have different numbers and the spreadsheet is programmed to identify correct answers for the ratios. But, note that the spreadsheet does not validate the numbers used to build the Balance Sheet and Profit & Loss Statement. While not necessary, Instructors may choose to validate these numbers manually by comparing them to the financial statements found in GoVenture CEO > All Reports > Performance Reports (scroll down the report to view the financial statements).


• Instructors can grade students based on the number of correct answers submitted. The Instructions & Results worksheet makes it easy for instructors to view this information at a glance. This method of grading takes less than one minute per student.


• The Excel spreadsheet is protected so that students can only input the required numbers and so students cannot see the formulas for the correct answers. However, protecting an Excel spreadsheet is not foolproof and students can find tools to overcome this security.


• It is advisable that students use Microsoft Excel to open the spreadsheet, as using another application may cause unpredictable behavior with the built-in formulas and settings..


• There are three sets of ratios, with one set being Shareholder ratios. To complete these ratios, students must have played a simulation with the STOCKS feature turned on.

Accounting Decisions
This simulation offers a high-level strategy experience that is focused on budget management and the analysis of market and financial data. Students must manage costing, budgeting, working capital, cash flow, financial statements, and more. Students also compete against each other in the same marketplace to win the same customers.

Accounting Videos
More than 35 accounting videos are available for students to learn accounting terminology and principles. Instructors can direct students to MediaSparkApps.com/accounting.

Financial Reports
GoVenture CEO includes all common financial statements and reports used in business.  These reports can be used as a context for assigning a variety of accounting and finance activities.  Reports in the simulation can also be hidden so that students have to build their own reports from other data.  Financial reports include: Balance Sheet, Profit & Loss, Cash Flow, Inventory, General Ledger, General Journal.

See Financial Statements Activity and Ratio Analysis Activity described above.

Income Tax
Instructors can set a specific Income Tax rate to be applied in the simulation. Income Tax is the percentage of Profit payable to the government. It is deducted from Cash as an expense each period based on the Profit earned in the period. Income Tax paid does not affect the amount of Budget available or how it is calculated (if based on a percentage of Revenue).

Payroll Tax
Instructors can set a specific Payroll Tax rate to be applied in the simulation. Payroll Tax is a percentage of Salary payable to the government. For simplicity, it is included in the Salary expense that is shown in the HR module of the simulation (and set by the instructor). Payroll Tax is displayed as a separate line item in the Profit & Loss Statement, General Journal, and General Ledger. For example, if Salary is 2,000 and Payroll Tax is 10%, the 2,000 Salary includes $181 in Payroll Tax (both the employee and employer portions).

Depreciation & Amortization
Instructors can set a specific rate to be applied in the simulation. Depreciation & Amortization is the reduction in value over time of tangible and intangible assets.  It appears each period as an expense on the Profit & Loss Statement and reduces the value of Property, Plant, and Equipment on the Balance Sheet.

HR Costs Related to Production are Posted as COGS
There are 5 HR categories of employees in GoVenture CEO:  Production, Operations, R&D, Sales & Marketing, and Management.  The Production employees are posted under Cost of Goods Sold.

Cash and Accounts Receivable
Instructors can identify the percentage of REVENUE to be deposited in CASH (paid) in each period and the percentage to be posted to ACCOUNTS RECEIVABLE (A/R unpaid).  Must add up to 100% each period.  Five periods can be set and for simulations that are longer than five periods, the settings will be repeated in order:  1, 2, 3, 4, 5, 1, 2, 3, 4, 5 etc. Note that players do not see these values until they are encountered. Example settings are shown below.



PERIOD	1	2	3	4	5
CASH	70%	60%	85%	80%	50%
A/R	30%	40%	15%	20%	50%
Total	100%	100%	100%	100%	100%

Accounts Receivable Aging
Instructors can identify the percentage of ACCOUNTS RECEIVABLE (A/R) that is deposited (paid) to CASH after the period in which it is earned.  An A/R can be aged to a maximum of 3 periods after the period in which it is earned.  

Percentages added under BAD DEBT (BD) will never be paid, and after 3 periods will be moved from an A/R asset on the Balance Sheet to a Bad Debt expense on the Profit & Loss Statement. For simulations that are longer than five periods, the settings will be repeated in order: 1, 2, 3, 4, 5, 1, 2, 3, 4, 5, etc. Note that players do not see these values until they are encountered.



REVENUE	1 PERIOD AGED	2 PERIODS AGED	3 PERIODS AGED	BAD DEBT	TOTAL
PERIOD 1	70%	20%	5%	5%	100%
PERIOD 2	60%	25%	5%	10%	100%
PERIOD 3	80%	10%	10%	0%	100%
PERIOD 4	70%	10%	8%	12%	100%
PERIOD 5	80%	10%	5%	5%	100%

How to read the tables above
In the first table, Period 1, 30% of the Revenue is posted to Accounts Receivable.  In the second table, Period 1, this 30% Revenue is aged as follows:  70% of it will be received in the next period, 20% in the period after that, then 5% in the period after that, and 5% will be posted as Bad Debt.

• Doing live debriefs is very useful, but if you are not allowed to do anything live, then consider posting a recorded video of yourself reviewing and commenting on the results of each period (or every few periods).


• If using a discussion board, post questions from our Winning Strategies (see User Guide) so that students can reflect on their own strategies and perhaps post back.


• Consider having students submit the Student Experience Report as part of their assessment.  You may also want them to record a video of themselves presenting their report (see above — Section 5 ).


• If playing in teams, smaller teams of 2 or 3 are better to make student meetings easier to schedule and conduct.  And allow a few days or more in between periods.


• Review this article and video on building camaraderie with students — Creating Student Camaraderie & Teamwork In Online Courses