Educational game for basic economic training in region

Management Sciences Students Community Engagement CUT News
Educational game for basic economic training in region
“One way of dealing with the challenges of unemployment is by being innovative and entrepreneurial. We can no longer be content with simply producing graduates into a hostile, poverty- stricken socio economic environment. We have to change course and provide a form of future-proofing that will not only shape the future of individuals, but the future of this region and the country as a whole,” these were the words of Prof. Thandwa Mthembu, Vice-Chancellor and Principal of CUT during his address at the official opening. 

In the wake of high unemployment, lack of entrepreneurial skills, and the current thinking within the institution, the Faculty of Management Sciences in collaboration with Aalen University took it upon themselves to initiate and develop a series of educational game systems, dubbed planning games. The initiative aims to promote entrepreneurship, a skill that is in high demand across the globe. In 2014, CUT Enactus group under the leadership of Dr Edem Agbobli, project champion, piloted the project to the small business community of Mafora Township, Bloemfontein. The main intention of the game is to develop and sharpen their business skills, equip them with knowledge that will enable them to run their own businesses, keep records, make transactions, penetrate the market, record their products, and keep record of accomplishment of their capital and profits. It is anticipated that the concept will inculcate entrepreneurial skills among the youth and the unemployed in the Free State and beyond for gainful employment, poverty alleviation and general improvement in the quality of life. On 4th July 2015, the team extended the training to Lejwaleputswa district in Thabong, Welkom where small business communities of Thabong and the surrounding areas actively engaged throughout the training duration. The game has several levels based on corresponding concepts of values and principles of economics. 

The development and deployment involves various stakeholders from university, industry, community, and education. The various levels of the game are as follows: Levels, values, and subjects in the VAL-U (VALues & yoU) game
Levelvalue aspectentrepreneurship contents
1the concept of value creationElementary economics: product prize and financial gain, procurement, production and sales
2adding monetary valueAccounting, cost analysis, interest and taxes, investment and financing, funding
3creating value for the marketMarketing and sales, risk management, supply and demand, quality and research, stakeholders
4valuing people and cultureProject management, teamwork and leadership, networking, soft skills and culture
5entrepreneurial valuesSustainable development, corporate social responsibility, strategic planning, competition, entrepreneurship
6adding value to societyBusiness plan development, forecast and research, bringing the plan to action
During the second half of 2015, beneficiaries will advance to level two until six where they will receive intensive training from the rest of the value aspects. 

Images
Engaging in the educational game: Mr Madikane, and Mr Mosikidi, Thabong employees; Mazakia Tlhobelo, Enactus member, and Mr Thokolo, Thabong Entrepreneur. 
Uploaded 31 July 2015 Views