Activities Facilitated By Business Simulation Include
Activities Facilitated By Business Simulation Include;
Theoretical Instruction
This is carried out through normal lessons in which the lecturer goes through a theoretical part of the study. He/she gives the scope of the study and the relevant notes the students need to learn. The learner can ask questions at this stage or comment. Every student has an idea of what is required to be learned. Preparation of the lecturer is also important. There is a need for previous knowledge and previous experience by both the student and the lecturer.
Introducing the Business Simulation
The students are told on how to operate the computer software and how the game works. The business simulation uses a software as a tool to learn. The students need to know how this software is operated on the computer to facilitate smooth learning during the practicals and to enable them to follow instructions with ease (Faria, 2001). This does not require it skills or software installation knowledge from the lecturer.
Playing the Game
Following the rules, the participants now can play the game. They get an opportunity to practice their knowledge learned in the class. They change different parameters and reflect on the consequences of their decisions (Ben-Zvi, 2010). They play the game through forming different teams in which each member participates in the game at the team level then latter shares with other members from other groups.
Group discussions
Each participant should be given a chance to compare the results of the game with the results of others. This discussion helps the participant to have the skills on the transfer of knowledge to the world. They are also to look for similarities in their results and also the teacher takes this chance to expound on their knowledge and finding connections in their results and the real world. This is called debriefing, and it’s the most important stage in the game. It deals with factual errors, makes a general conclusion and the lesson which can be extrapolated to the real world. (Salas and Burke, 2002) The participants receive feedback (process feedback) then they can conclude what was learned.
Skills gained by students through business simulation include; market analysis, strategy development, problem-solving skills, working as a team with common goal, business-decision making, goal setting, time management, conflict resolution as well as sales and marketing strategy.
Ways in Which Business Simulation Is Effective.
Motivation for learning
Students are motivated to learn since there is a use of computer games involved. This helps them to retain what they have learned as well as better illustrate theoretical business concepts. Students also enjoy having lessons and find it interesting to want to learn more. This also takes away the classroom boredom, creating a more enjoyable school curriculum (Curry and Moutinho, 1992). Different research has shown that simulation is recognized as an excellent motivator and provider of valid decision-making.
Active Learning Skills
All team members are engaged in the study. Every student is given a chance to present to different team members the finding of their team as they compare their results. This helps in developing shared leadership skills as well as improving student-student interaction. This also gives them a powerful tool to test what they have learned. This also boosts in teamwork as students are forced to think together, make decisions together and solve problems together (Kneebone, 2010). The business simulation is not reduced to single thinking.
Theoretical Instruction
Authenticity
It combines important features like completion, cooperation, rules, roles, participants as well as protocols. The rules refer to an empirical model of reality. These are closer to reality. This improves the employability of students (Green and Ryans, 1990) Students can see the big picture with the broad range of challenges they face during simulation. This gives them the advantage in the job market since an employer would consider someone with experience than with theoretical knowledge only.
Repetitive
For valuable results, students need to continuously repeat what they learn. Repeating the same contents or using same notes learned might not be of great help, could be tiring and or boring. Therefore, simulation helps to solve that problem. This helps student easily remember what they learn in class and accelerates performance (Walters, Coalter, and Rasheed, 1997).
Personalized and Diverse
Depending on different situations, simulation provides different scenarios. Every player must face consequences of their actions. They also help individuals to learn from their mistakes, evaluate their performance and compare it with a previous one. Simulation provides an overall view of corporate strategic functions (Moorthy, Vincent, and Darzi, 2005).
Leadership Pool
As students participate and try to solve simulation problems, some will perform better than others. In that case, one can use that opportunity to get the best students who have the best leadership skills and give them job opportunities. These business simulation games bring out the inner talents of individuals who would have rather stayed quiet or unnoticed with their talents. This shows that business simulation games are coming forefront of team building activities.
Realistic Experiences
Business simulation games give real experience to be used in the real business world. Not experiences used by young people in early ages of studying. These experiences are complex and involve scenarios found in the real world. Employees will build their work experience and understand what they do better. When the business simulation is done by students, it gives them ready experience before being employed. It also ensures that employees know what they will be doing in the organization before their orientation thus producing better business decision makers and thinkers.
Conclusion:
The business simulation is growing as a training approach for traditional methods of expert-led lecturer’s. Simulating critical business systems and processes can greatly help train new teams and managers (Ryan, 2000). Business simulation games serve as a realistic representation of the real operations in a virtual environment and use it to develop managerial skills primarily in corporate decision-making. Internal business simulation is helping in increasing performance in students and improving decision making in the business world (Laguna and Marklund, 2013). Those undertaking the course gain knowledge and develop managerial skills by having firsthand experience through practicals.it enables experiential and reflective learning while the learning outcomes are relevant. Business simulation brings the real world into the classroom. Business simulations are used to support rather than replace lecturers, and they also provide much more interactions. Simulation-based training has opened up a new application in business. Theoretical knowledge can be put into practical experiments through the use of scenarios.
Introducing the Business Simulation
Students are expected to develop a high level of competence by having a broad range of skills to be more flexible and adaptable as well as be more productive in their future work. However, the methods and tools used in teaching business skills are insufficient to cater to the rapidly changing business organization and market (Chatman and Barsade, 1995). Internal business simulation enables theory to be applied in practice with no risks involved, as well as encouraging team working in a decision-making process. The ability to think critically and solve ill-structured problems has become very important in the competitive world. This, therefore, calls for first hand experienced students to solve these problems. A platform to produce future manager’s business school needed to change its learning practices and incorporate skills to solve these problems.
The business simulation also called business games are a case study and feedback with time frame.it is a representation of a real situation imitating some business situation or process. A simulation is a working representation of reality. It has relevant behavioral similarity to the original system. Business simulation can be a numeric or scenario simulation, in scenario simulation a scenario is played out, and each leaner is asked to make an individual or team-based decision. Throughout or at certain intervals feedback is provided. The simulation uses the software as a processing tool. It involves the formulation of strategies, analysis of factors that influence an outcome, improvement of analytical skills as well as team communication. Systems thinking in the business situations or processes are seen as structural. There is also collaboration which improves performance management. The students can be innovative through experience giving them sustainability n the rapidly changing business activities (Springer and Borthick, 2004).
Reference:
Chatman, J.A., and Barsade, S.G., 1995. Personality, organizational culture, and cooperation: Evidence from a business simulation. Administrative Science Quarterly, pp.423-443.
Springer, C.W., and Borthick, A.F., 2004. Business simulation to stage critical thinking in introductory accounting: Rationale, design, and implementation. Issues in accounting education, 19(3), pp.277-303.
Faria, A.J., 2001. The changing nature of business simulation/gaming research: A brief history. Simulation & Gaming, 32(1), pp.97-110.
Ben-Zvi, T., 2010. The efficacy of business simulation games in creating Decision Support Systems: An experimental investigation. Decision Support Systems, 49(1), pp.61-69.
Salas, E. and Burke, C.S., 2002. Simulation for training is effective when…. BMJ Quality & Safety, 11(2), pp.119-120.
Curry, B.U., and Moutinho, L., 1992. Using computer simulations in management education. Management Education and Development, 23(2), pp.155-167.
Kneebone, R., 2010. Simulation, safety, and surgery. BMJ Quality & Safety, 19(Suppl 3), pp.i47-i52.
Green, D.H. and Ryans, A.B., 1990. Entry strategies and market performance causal modeling of a business simulation. Journal of Product Innovation Management: AN INTERNATIONAL PUBLICATION OF THE PRODUCT DEVELOPMENT & MANAGEMENT ASSOCIATION, 7(1), pp.45-58.
Walters, B.A., Coalter, T.M. and Rasheed, A.M., 1997. Simulation games in business policy courses: Is there value for students?. Journal of Education for Business, 72(3), pp.170-174.
Moorthy, K., Vincent, C. and Darzi, A., 2005. Simulation-based training.
Ryan, T., 2000. The role of simulation gaming in policy?making. Systems Research and Behavioral Science: The Official Journal of the International Federation for Systems Research, 17(4), pp.359-364.
Laguna, M. and Marklund, J., 2013. Business process modeling, simulation, and design. CRC Press.
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