How to conduct the simulation with answers: ONLINE ASSESSMENT: SIMULATION $-$THE FOOD TRUCK

Synopsis:

Online assessment is a simulation that is a Harvard Business Publishing tool called New Venture: The Food Truck Challenge In this online simulation, students try to run a successful food truck in the city of Boomtown. Students work individually or in teams to achieve maximum revenue over $5$ simulated weeks and win the "Food Truck Challenge." In each round, students make decisions about where to park and what menu item to offer in hopes of finding the best menu$-$location combination and yielding the highest sales. They begin by analyzing market data and making a plan but must then decide whether to a$.)$ go to scale right away with the food truck b$.)$ conduct further research and analysis, or c$.)$ experiment with a low$-$capacity pushcart. In the class debrief, students discuss the trade$-$offs between analysis, experimentation, and scale. This simulation teaches students about the value of learning by doing, prototyping, and willingness to fail. It is ideal for discussions of innovation, product development, design thinking, lean start$-$up$,$ entrepreneurship, strategy, marketing, and organizational learning.

Format and Delivery:

A compulsory orientation session is scheduled for The Food Truck Challenge simulation, whereby students will be taken through expectations, login and registration as well as given an opportunity to interact with the simulation by familiarizing themselves with the simulation tool and allocated a role.

The webinar $($and links of the webinar dates will be shared as follows:

$1.$ Compulsory Orientation session: $13$ October $2023($duration $1\mathrm{.}5$ hours$)$