Business simulations - challenges & benefits

the opportunity to practice is seen by many as a flaw in management education…

In problem based learning (PBL) learning needs are triggered in the form of a scenario (the problem). The problem acts as the context and driving force for learning - problems are encountered before all relevant knowledge has been acquired. Similarly, action learning –(learning by doing) is an approach to management development which involves a small group undertaking a practical, real-life and organisational-based project. Case studies are often used to support such learning but are considered to have a low action impact. Simulations, on the other hand, are generally high action impact: the emphasis is on learning by doing with advice and support from tutors. Simulations may be completed by individuals or groups. Group work may involve role play which narrows the gap between theory and practice.

It is claimed that such approaches:

Motivate

Develop deeper understanding

Encourages independent and collaborative learning, participation and involvement

Develop higher order-cognitive skills

Develop problem solving, group working, critical analysis and communication skills

Build in opportunities for reflection

Build and develop management competencies

Integrate theory & practice

Integrate business functions providing a holistic company view

Encourages critical thinking

Facilitates skill transfer

Enhances interpersonal & group-work skills

More realistic & Meaningful

Reinforce learning through feedback