Business Management Simulations

A detailed review of business management simulation literature was conducted in order to ascertain the major benefits, drawbacks and most effective features of such simulations. A detailed industry analysis was also conducted, through interviewing 17 simulation companies, testing a range of full and demo games, and conducting secondary research. The findings from both research efforts were then collated and cross-referenced against each other in order to determine three things: firstly, the practices and features used by simulation companies that have not yet been the subject of academic research; secondly, the most effective features, elements and inclusions within simulations that best assist in the achievement of learning outcomes and enhancement the user experience; and finally, 'best practices' in teaching a business management course in a university or company with the assistance of a simulation. Identified gaps in the current research were found to include the effectiveness of avatars, transparent pricing and the benefits of competing the simulation against other teams as opposed to the computer.

Auteur

Michael is a Business Analyst at Expert360, a startup based in Sydney, Australia. At the time of writing he was a M.Sc/CEMS student at Vienna University of Business and Economics.