244 Book Review on her own. This makes the final lecture quite experience it does require substantial basic powerful. business knowledge. At each stage in the simula- LHRB is set up as a sequential simulation tion the software produces detailed income state- where the user makes a set of key choices each ments, balance sheets and manufacturing reports. month and then runs the simulation. At the end Also, the user can purchase detailed marketing of the month the user can view the results of her reports. Interpreting these outputs will be close to choices and either run the next month with the impossible for somebody without some training in same settings or make changes. Just like in a real business. In my opinion LHRB will be very business there are several areas (R&D, manufac- helpful for students of business and economics turing, marketing & sales, human resources, (undergraduates and graduate level) as well as for finance) in which the user needs to make deci- practicing managers who are thinking about sions. Decisions fall into policy decisions (e.g. launching their own business. Finally, it can be a how intensively will I work my team) and oper- fun check-up for venture
Small Business Economics – Springer Journals
Published: Oct 8, 2004
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