Why use business simulations?
Interesting lectures, hands-on lab sessions and relevant case studies are the necessary elements of a well designed business course curriculum. But isn’t this mix missing one essential ingredient? What is the one thing that most college classes can’t provide?
Business simulations allow students to apply the newly acquired theoretical knowledge in a simulated business world. Your students can gain hands-on managerial experience by running their own business in a safe game-like environment.
What are the key benefits of business games?
Shouldn’t learning be as much fun as playing a game? Business simulations are essentially business games that allow you to put your students in charge of a marketing division or an entire corporation. Your students get to test their skills in a fun interactive game and they become totally immersed in the learning process. The strategy business game environment entices them and adds a whole new level of excitement to your classroom.
Business simulations allow students to experiment with business strategies and compete with other student companies. The game environment of a business simulation stimulates the competitive spirit. Your students focus on outsmarting the classmates in a friendly game and the competitiveness drives the learning. Learning occurs as a necessity to master the exercise and perform better than the other teams.
Research shows that students remember only about 20% of what we tell them in the classroom. But when they learn by doing, they retain 80% of the knowledge. When your students make realistic business decisions in a business simulation and immediately see the results of their actions, the important business principles become a part of their natural thinking.