October 6, 2022
Virtual Business Simulations Empower Students
Virtual business simulations empower students to apply business and personal finance fundamentals to make real-life connections.
 
Registration is now open for the latest scholarship competition from Knowledge Matters! The DECA Virtual Business Challenge (VBC) by Knowledge Matters is available to all current DECA high school members, and participation is free. The VBC is based on the Virtual Business simulations used in over one-third of high schools nationwide and consists of eight tracks:
  • Accounting
  • Entrepreneurship
  • Fashion
  • Hotel
  • Personal Finance
  • Restaurant
  • Retailing
  • Sports
Within the simulations, students learn by doing because they are in the driver’s seat to make important business and financial decisions. They see the impact of those decisions immediately and can work to improve their scores again and again in a zero-risk, game-like virtual setting. The top challenge participants will compete live at DECA ICDC in 2023 to win scholarship money, and spots are limited, so be sure to register soon!
Students can work in Virtual Business simulations throughout the year in the classroom to practice and prepare for the DECA VBC and to apply the concepts learned in class. By completing the simulations, students learn important skills for life after graduation like critical thinking, decision making, strategizing, communication and teamwork. These important skills are applicable to the successful completion of their classes and encourage forming connections to real-life scenarios. Hear more from a DECA student at ICDC 2022! 
“I can’t describe how invaluable the simulation programs are to enrich the learning in the classroom... It allowed me as a teacher to provide a platform to help students reach the learning standards of the class, albeit virtually in some cases. I am a big believer in learning by doing. The Knowledge Matters products (for which we use all of them) allow students to do just that — learn by doing!”

–Lou DiCesare, Business Teacher and DECA Advisor, West Irondequoit Central School District
Stay tuned for the latest updates on Facebook, Twitter and LinkedIn. There is also a collection of informative videos and testimonials on the Knowledge Matters YouTube channel.
DECA Virtual Business Challenge

You won't want to miss the DECA Virtual Business Challenge! DECA VBC is an official competitive event free to high school members. Your members could earn a trip to ICDC and a share of over $20,000 in scholarship money. Round one takes place from October 18-28, 2022.
PERFORMANCE ELEMENTS
Virtual Business simulations expose students to performance elements from multiple career clusters in an interactive way as they call the shots in their simulated environments:

  • Implement purchasing activities to obtain business supplies, equipment and services.
  • Understand sales processes and techniques to increase the likelihood of making sales.
  • Select the target market appropriate for the product/business to obtain the best return on marketing investment (ROMI)
  • Employ product-mix strategies to meet customer expectations.
  • Manage personal finances to achieve financial goals.
  • Acquire product knowledge to communicate product benefits and ensure the product's appropriateness for the customer.
  • Conduct an audit to verify the integrity of a business’s financial reporting process, accounting functions, and internal controls.
  • Identify potential business threats and opportunities to protect a business’s financial well-being.
Discover more Classroom Connection activities at decadirect.org.

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