Why use Simulations?
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"Tell me, and I will forget. Show me, and I may remember.
Involve me, and I will understand.
Confucius, 450 BC
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Students love simulations:
- Develops critical thinking
- Dynamically experience the consequences of different management decisions
- Develops a general management vs. specialist functional view of business
- Understand the impact of decisions made by departments on the entire organization
- Practice working as a management team, team building skills
- Engaging and exciting
- Competitive and challenging
- Active Learning -- Improves knowledge retention
- Demonstrates value of understanding financial statements -- especially cash flows
- Test managerial skills in a safe environment, learn from mistakes and try again
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Instructors love simulations:
Simulations:
- Connect theoretical knowledge with the real world type application
- Injects competition into the learning process, which stimulates the emotions and increases retention
- Introduce excitement to the classroom
- Connect to students
- Potential for research
- Demonstrate practice of the following AACSB Assessment of Learning goals:
- develop critical thinking
- formulate business strategy
- manage group and individual dynamics in an organization
- evaluate financial position of a firm
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Contact us to learn more about Simulation Benefits
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