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Ann Barber Chris Thompson MCLA: ITEC603—SBRSD December 5, 2008 Final Project—Games and Simulations As a youngster, many of us had a “lemonade stand” business. The game simulation I decided to review is called “Lemonade Stand”. This game provides the student with an opportunity to experience how a sole proprietorship business operates. Plus it reinforces the terminology and concepts used in learning Accounting I, Economics, General Business, Marketing, Finance, etc. After reviewing many different versions of this business simulation game on-line, I found that the one at www.coolmath-games.com/lemonade website had the best graphics and animated characters and costumes because it was more colorful. It had a much larger viewing display, it was much easier to see than some of the others, and it had more diverse characters (Aliens, animal, adults, and kids). All of the games reviewed had the same goal to make as much money as possible in either a 7-, 10-, 14-, or 30-day time period. To play this game, the student first sees a yellow screen. On the left-hand bottom corner, the day and weather type is presented. At the center, a dollar amount is given. Then at righthand corner, the temperature is specified. Next, the student will select how many paper cups will be needed. How many lemons will be used? How much sugar will be used? How many ice cubes need to be purchased. Once these decisions are made and the student is satisfied with the selection, he/she presses the okay button. On the second screen, they need to make more choices. For example, how much money will they charge per cup? How many lemons are needed per pitcher? How much sugar will be added to each pitcher? Finally, how many pieces of ice will be placed in each cup. There is a bankrupt, a help, and a back to store button for additional assistance. Once these decisions have been made, he/she presses the okay button. The game begins. On the bottom of the screen, it begins to count the number of cups, ice, lemons, and sugar used that day. A button on the right-hand corner regulates the speeds. There is a normal and faster speed slide button that will make the people and characters move either faster or slower. On the top, right-hand corner there is a second slide button allowing the player to either increase or decrease the price. Also if the customers are satisfied with the product, a bubble appears indicating they liked it. If a bubble appears with a “$ and a down arrow”, they think it is too pricy. It’s not good advertising for the business and attracting customers. If they don’t like the product, it is indicated with a “Yuk” bubble! At any time during the game, the bankruptcy button can be pressed. Then an “End of season report” will appear. It shows the total income, the total expenses, the liquidate inventory value, and net profit/loss. At the end of each day, a report is given on customer’s satisfaction on the product and popularity rating. An example of one of the comments would be: “I’d say this is Pitiful!” or “Inventory losses—ice has melted” or “ants have gotten into your sugar”. It can be a fast moving game. The results are given quite rapidly, which is one advantage. No two days are alike. Random events take place. Weather is always unpredictable. This game is fairly simple to play. Therefore, the “Lemonade Stand” game is a great way for them to make real life business decisions regarding the following factors: 1. 2. 3. 4. 5. What is the beginning capital? Assets? What is the initial cost of making the lemonade? How much will be charged per glass for the lemonade? How many lemons will be purchased? How many customers do they predict to have per day? 6. 7. 8. 9. 10. 11. 12. Will customers be satisfied with the product? How does the weather affect sales? What happens when the cost of the product goes up or down? What is the cost for supplies (sugar, lemons, ice, cups)? What are the other factors that will make or break the business? How does the law of supply and demand work? What does the terms: assets, income, expenses, net profit, net loss, margin of profit, etc. . .mean? 13. How will the product be advertised? 14. What is an income statement? Balance Sheet? Currently, I use this version of the “Lemonade Stand” in my Accounting I class. I have found it to be valuable to them because it provides them with a better understanding of how a business works. Why do we need to prepare the financial reports? How to analyze, interprete, and graph the businesses progress? How does pricing and quality control affect the success of the business? As stated earlier, this game is fairly easy. One disadvantage is that it can become boring if it’s played everyday. It does provide variety from the lecture, discussion, and applications method of teaching. The students do become very competitive with themselves as well as with their peers in class. It’s fun! The characters may be a little comical and elementary, but they are cute! This game can also be played on Windows PC, Mac, and downloaded to IPhones. It can be used at the middle school and high school levels.