Business simulation games play an important role in making students understand the functionality of different functional areas and how they fit together and shape the whole business process.
Offering a playful approach to learning methodology is an ever-changing trend. As the entire world goes digital, innovative teaching methods have emerged to impart the skills necessary for success in the 21st century. Of the many different forms of active learning made possible by modern teaching technologies, one of the most popular is simulation. Walking hand in hand with the evolution of ed-tech solutions, business simulation games belong to the realm of “active learning”, which involves all forms of learning where the participant is behaviorally active. and cognitive. If until now the selection criterion for PGDM training has been based on general aptitude tests, with the advancement of technology it is also a question of evaluating the business acumen of candidates.
Studying management means understanding business processes. Even a small business basically has two important functional areas, namely sales and production. However, a general contractor will have many functional areas such as HR, Marketing and Sales, Accounts and Finance, IT, Administration and Operations, SCM, CRM and many more. Each business school / college covers almost all of the areas mentioned above during their one-year or two-year program. Students study all of these functional areas as a course and find it difficult to integrate and understand them. However, students work as an intern to understand how the organization works after their first year of classes. Business simulation games play an important role in making students understand the functionality of different functional areas and how they fit together and shape the whole business process.
The discourse in business education is changing. The influx of business simulation games is playing a crucial role in overall teaching and learning practices. It gives students the opportunity to put themselves in the shoes of professionals and analyze their analytical skills, thinking and problem-solving approach in various functional areas of business processes. Students must be very calculating and innovative to run a business. They will need to analyze all functional areas such as pricing, product design, production, marketing, sales, SCM, inventory, finance, etc. and then have to make a decision taking into account the dynamics and of the marketing environment. These games help students analyze, strategize, and manage the entire business from start to finish. Students learn to integrate business processes and functional areas, they learn the art of strategy and analysis and the impact of small decisions on the whole company. They gain hands-on experience from these simulation games which they can use later when working in real conditions. These games help them understand the micro and macro level of the business room, how each decision impacts end results.
AIMA Bizlab, Simventure and BIZMAP are simulation games that test the following student skills which are very important for emerging business leaders:
1- Business strategy
3- Decision making
These simulation games develop and accelerate business and strategic management skills as well as leadership skills. Each simulation game algorithm has been designed and tested by skilled technicians and experienced professionals so that these gamified learning solutions have appropriate fidelity and reflect what is happening in reality. Thus, help management students harness the real skills needed to excel in the corporate world.
Numerous studies have demonstrated the effectiveness of business simulation games used in teaching and learning; however, the main concerns that need to be addressed relate to sustainability issues. In the future, it will be necessary to integrate the stages of employability in the curriculum, as well as in organizations, to bridge the gap between the skills acquired and the skills required by the industry.
Whether personal or virtual, simulation games are a great way to facilitate experiential, applied, and results-based learning. As technology advances and becomes a standard part of business training, these business games will evolve in parallel becoming sophisticated and relevant, adding additional value to the skills of future business graduates. It will enable students to employ applied learning to impart negotiation, agreement making and the power of interpersonal communication skills in business.
– The article is written by Professor (Dr) Sanjiv Marwah, Principal, JK Business School