Quest for Business Excellence: Retail

Dr Dalius Serafinas


In retail, as any other business, the ever changing business environment, customer needs and expectations should be considered. It is highly important to understand mechanisms of how the value is perceived, created and commercialized in order to achieve sustainable business.

The purpose of this course is to provide learners with the knowledge and to develop competences in:

- Forming the understanding of how retail business operates and how these operations and overall efficiency influence business results (KPIs).
- Develop strategic and systematic thinking.
The course offers convenient schedules for the management of virtual companies, as turns take place once a day. Naturally, the gameplay becomes more intensive as the amount of time for decisions decreases. However, the players will need to continuously engage in the gameplay in order to make effective managerial decisions and complete the assigned tasks.


Course scenario

The participants are asked to manage and expand a retail store network. During the course students will have to be involved in these activities and business processes:

Market and context analysis.
Supply chain management.
Smart decision making.
Establishing Product, Place, Price and Promotion.
International trade (customs, taxes, logistics, etc.).
HR management.
Investment and finance management.
Optimize and increase the scale of their business.
Course develops

Decision making.
Retail management.
Basics of quality management.
Price setting.
Analytical skills.
HR management.
Supply management.
Strategic and systematic thinking.
Participants' evaluation

Individual participant rating is available in Simformer Business Simulation.

Course process.

Participants receive explicitly structured material in the form of interactive video clips and text in pdf format containing:

Description of the game rules and mechanics.
Questions to test player understanding of basic business decisions performed in the simulation.
A functional guide of the simulation.
Tasks to be performed in the simulation.
All participants begin the course at the same time under the same conditions. The dynamic of player actions is reflected during simulation recalculations. Participants need to perform the required tasks before the next recalculation takes place.

Participants are given enough time to implement a series of complex tasks, revealing their analytical abilities.

Course results report
A typical report includes player ranking based on the performance of the companies under their management.

key words, tags

change management, quality management, retail, decision making

Course properties

Competition track
Science and engineering
Form of education
Formal education level
Undegraduate, Master program prep, Graduate, Postgraduate prep, Postgraduate, MBA, Further education, Professional development
Recommended age for informal learning
Learning language
Wholesale and retail sales, Economics, Management and administration, Marketing and advertising
Course authors
Dr Dalius Serafinas
Author’s characterization
Dr. Dalius Serafinas is an associate professor at Faculty of Economy, Vilnius University. President of Lithuanian Quality Management and Innovation Association. Owner and Director for business development at CJSC “Kvaitetas”.
Sergey Menshchikov
Knowledge level entrance requirements
Output knowledge, abilities, skills
Decision making. Retail management. Basics of quality management. Price setting. Analytical skills. HR management. Supply management. Strategic and systematic thinking.
Career list corresponds to course
Entrance test
Groups formation by readiness level
Teachers presence
Tutors presence
Facilitators presence
Training materials forms
texts, multimedia, presentation, virtual world, case, interactive games
Interactivity in training materials
Collaborative learning presence
Practical activities
project, labs
Discussions, forums presence
Webinars, video conferences presence
meetup presence
LMS integration
Learning Analytics
Certification presence
Certification types
Digital Certificates may be placed on the participant personal profiles in LinkedIn.
Course time limits
1 (months)
Learning types (sync/async)
Assessment types
Course modules number
Personal learning path possibility, course individualization
Operating System
Windows, MacOS, Andriod
Supported browsers
Learner’s devices
Компьютер, ноутбук, планшет
Special needs support
Learning technologies
Educational objectives, Connectevism, Organizational learning, Situated Learning, Gamification, Virtual worlds, Web based training