Profitable Experiences from a Business Simulation Game

This paper evaluates the experiences of Business Management students on undergraduate and postgraduate courses, who participated in a business game midway through their course. The objectives in designing the game were to provide an opportunity for students to work together, to integrate what they have learnt about different business functions and to see how these are drawn together using Financial results, in the context of a dynamic competitive market. Whilst the objectives are to grow the business to acquire a profitable market share of this rapidly developing market, the winner of the game is not determined simply on the basis of profitability or market share. Teams are required to present a Board Report evaluating their performance and explaining how well they are positioned to exploit opportunities for the future. Thus performance is evaluated, not simply on the financial indicators, but rather on the discussion of strategies that led to the results. Questionnaires to 200 students, who had participated, revealed that they felt that they had run a successful business and been party to decisions, although they found decision-making difficult. They felt that they understood better the relationship between different business functions and had improved their decision-making and team-working skills. The survey revealed that students appreciated why numerate ability is important for business. The level of participation by students was surprisingly good, providing that the teams are kept reasonably small. The research shows that the game generated much excitement amongst the teams, with a truly competitive spirit. Many also learnt that it is possible to succeed in business, providing that you learn from your mistakes. We believe that the business game, with the interaction between students and tutors, made this a valuable learning experience. Keywords: business game, numerate, decision-making, team-working, evaluation.