What Are Business Simulation Games, and How Can They Help Prepare Your Students?

Text: What Are Business Simulations Games?
Image: A laptop with a screenshot of the sales force compensation screen from Marketplace Simulations

School can teach students a wide variety of skills. However, most of the time, they’re learning theory and concepts. That’s helpful but only if students are given the opportunity to actually apply what they’re learning. Application can help them solidify what they know and prepare for the workforce. 

One way to help prepare students in the classroom is to use a business simulation game. These scenarios let these students apply what they know in life-like situations. Read on to learn more about business simulation games and how they can benefit your students

What Is a Business Simulation Game?

A business simulation game is an immersive learning program designed to help students apply their classroom knowledge in life-like scenarios. These simulations are a way for students to use their skills and have fun at the same time. The enjoyment of the simulation game can help them learn more and see how they might need certain skills in their future jobs

For example, a business simulation can give students a chance to run their own company. The customers will all be fake, but the student will get to make decisions, delegate, and handle crises in a way that helps them learn new skills and apply their knowledge. 

What Are the Benefits of Business Simulation Games? 

Board games and war games were used all throughout ancient Chinese history, and there’s a reason for it. That’s because for so many years, people have understood that having fun and applying knowledge in a simulation can provide students with amazing benefits. These are some of the skills your students can develop: 

  • Teamwork
  • Communication
  • Problem solving
  • Leadership
  • Negotiation

Using these kinds of simulations can provide these benefits as well: 

  • Experiential learning
  • Holistic understanding of concepts
  • More engaged students
  • Better knowledge retention
  • Leadership Development

On top of that, business simulation games are also incredibly easy to use. They’re intuitive for students, and the digital nature helps make it possible for everyone to participate no matter where you hold class. It works well for in-person classes, completely online courses, and any kind of hybrid structure. 

Who Uses Business Simulation Games? 

Business simulation games can be used for nearly any field. If you’re in marketing, business, or even supply chain strategy, your students can use these simulations to begin applying their knowledge to new scenarios. These simulations are sometimes even used in the workforce because they can be so valuable to helping people learn new skills. 

What to Expect from a Business Simulation Game

Business simulation games can vary by format, subject, length of time, and style. All of them can be valuable, but the variations can affect what you can expect from the experience. 

Short simulations can take anywhere from 10 minutes to 2 hours. These are the types of games you might choose to implement in your classroom if you’re hoping to solidify one specific concept or explore an entire full-enterprise simulation in only a few hours. Microsimulations and short full-enterprise simulations also work well outside of class to help students apply what they learned earlier that day. 

You also could choose to do a full-enterprise simulation. These types of games let students run marketing campaigns, own a company, and other extensive tasks. It can be structured to last the entire semester or just a few days or weeks. 

What can you expect to find in any of these types of business simulation games? These are some of the benefits you can find in a simulation game: 

  • Real-world scenarios. The premise and situations within the simulation are all designed to mimic real-life examples. This can help students learn more about their field and get job-ready. 
  • Challenges or complications. The simulation will always have some kind of obstacle to help students learn more about how to handle complicated situations. They might have to decide on a path for their business to take or deal with some tricky industry challenges. Encountering these obstacles in a simulation can help students be more prepared to take on challenges in their future careers. 
  • Decisions. Simulations are designed to help students make life-like decisions. During the game, they can make major decisions for their business in a risk-free environment. That can help them develop decision making skills they’ll need later in their jobs. 
  • Feedback. Whether it’s a score or a KPI, the simulations provide some kind of feedback on how a student is performing. Good decisions will boost their scores while poor ones will lower that. In a simulation, it doesn’t really matter what their scores are. The goal is to give them feedback that helps them learn what works. 

Get Started with Marketplace Simulations

Overall, business simulation games are a powerful way to help students learn more deeply and gain real-life experience. If you’re looking to add a simulation to your curriculum, look no further than Marketplace Simulations. We offer over 30 simulations in a variety of different forms and nearly every business discipline. Book your demo to see how you can help your students prepare for their future careers.

Text: Explore over 30 business simulation games for undergrad and MBA students. Click here to learn more!
Image: A young woman and two young men work together and smile at a laptop.