Using the markstrat business simulation to develop strategic management behaviours

It is well understood that experiential learning provides an incentive and impetus for accelerated learning, especially in humanities and business-focussed studies. ICT-based synthetic and virtual environments can provide a rich and varied context within which to achieve this. Specifically, this paper attempts to provide empirical, survey-based analysis of the application of a business simulation game, MarkStrat, on undergraduate and postgraduate programmes in this vein. The paper subsequently posits the pedagogic benefit of using such business simulation games for the development of strategic management behaviours across student sample populations and derives subsequent results to highlight associated learning behaviours

Business Process Management Education in Academia: Status, challenges, and Recommendations

In response to the growing proliferation of Business Process Management (BPM) in industry and the demand this creates for BPM expertise, universities across the globe are at various stages of incorporating knowledge and skills in their teaching offerings. However, there are still only a handful of institutions that offer specialized education in BPM in a systematic and in-depth manner. This article is based on a global educators’ panel discussion held at the 2009 European Conference on Information Systems in Verona, Italy. The article presents the BPM programs of five universities from Australia, Europe, Africa, and North America, describing the BPM content covered, program and course structures, and challenges and lessons learned. The article also provides a comparative content analysis of BPM education programs illustrating a heterogeneous view of BPM. The examples presented demonstrate how different courses and programs can be developed to meet the educational goals of a university department, program, or school. This article contributes insights on how best to continuously sustain and reshape BPM education to ensure it remains dynamic, responsive, and sustainable in light of the evolving and ever-changing marketplace demands for BPM expertise

Spreadsheet as a didactic tool to teach and learn financial math

In this document we propose a methodology to teach financial mathematics, using a spreadsheet as a didactic tool. We describe the traditional education process in a specific topic of mathematics, “debt restructuring and modeling with equivalent-equation” from the theoretical explanation to design a financial simulator programmed in a spreadsheet. After this, the result will be verified and validated by the designed software.TIC, Financial mathematics, teaching-learning process, financial tools.

Student interactions in online discussion forums: their perception on learning with business simulation games

Digital technology offers new teaching methods with controversial results over learning. They allow students to develop a more active participation in their learning process although it does not always drive to unequivocal better learning outcomes. This study aims to offer additional evidence on the contribution of business simulation games to students' learning outcomes, considering student interactions in online discussion forums. We conducted a qualitative research with the online discussion forums of 5 different courses at bachelor and master levels, which involves 41 students' teams. The final sample was composed of 3681 messages posted by the students. The results reveal that some generic and specific managerial skills exert a positive influence on learning outcomes. Students mostly highlighted teamwork, decision-making, information processing, reaching agreements, and dealing with uncertainty as the most relevant contributions of the game towards their learning. These results have instructional and pedagogical implications for determining the best way to enhance students' motivation and learning outcomes when using digital technology methods, which involves recommendations that affect their design and monitoring

Aligning operational and corporate goals: a case study in cultivating a whole-of-business approach using a supply chain simulation game

This paper outlines the development and use of an interactive computer-based supply chain game to facilitate the alignment of disconnected operational and corporate goals. A multi-enterprise internal cattle supply chain was simulated targeting the operational property managers and the overall impacts of their decision making on corporate goals A three stage multidisciplinary approach was used. A case study based financial analysis was undertaken across the internal cattle supply chain, a participative action research component (developing the game to simulate the flow of product and associated decisions and financial transactions through the internal supply chain of the company for different operational scenarios using measurable and familiar operational and financial criteria as tracking tools), and a qualitative analysis of organisational learning through player debriefing following playing the game. Evaluation of the managers' learning around the need for a change in general practice to address goal incongruence was positive evidenced by changes in practice and the game regarded by the users as a useful form of organisational training. The game provided property managers with practical insights into the strategic implications of their enterprise level decisions on the internal supply chain and on overall corporate performance. The game is unique and is a tool that can be used to help address an endemic problem across multi-enterprise industries in the agrifood sector in Australia

Teaching employability skills through simulation games

This paper examines the use of a business simulation game to test its effectiveness in promoting the awareness of employability skills in undergraduate students. A mixed approach using an-online survey tool was used to record student perceptions of how their employability skills were developed across ten courses and three faculties. The survey was conducted before the unit started, and on completion. Key emerging themes show that students demonstrated an increased awareness and development of their employability skills. They acquired and developed their skills by learning how to operate a small business start-up using a business simulation game. This research project was limited to one core unit in the curriculum, and the project is university specific. A cross university research project would add further value to the research project. Students are able to articulate the skills they have acquired and developed thus showing elements of self-awareness. An increase in student’s social capital is likely to enhance their career decisions. This paper will be of value to institutions wishing to evaluate the use of serious business simulation games to embed employability skills into the curriculum

The use of an e-learning constructivist solution in workplace learning

We wished to investigate whether an e-learning approach which uses constructivist principles can be successfully applied to train employees in a highly specialised skill thought to require expert individuals and extensive prolonged training. The approach involved the development of an e-learning package which included simulations and interactivity, then experimental testing in a case study workplace environment with the collection of both quantitative and qualitative data to assess the effectiveness of the package. Our study shows that this e-learning strategy improved the skills of the inexperienced operator significantly. We therefore propose that such programmes could be used as a work based training aid and used as a model system for the training of employees in complex skilled tasks in the workplace. This research demonstrates that the e-learning can be applied outside the traditional learning environment to train unskilled employees to undertake complex practical tasks which traditionally would involve prohibitively expensive instruction. This work also illustrates that simulations and interactivity are powerful tools in the design of successful e-learning packages in preparing learners for real world practical situations. Finally this study shows that workplace learners can be better served by elearning environments rather than conventional training as they allow asynchronous learning and private study which are valued by employees who have other demands on their time and are more comfortable receiving tuition privately Relevance to industry: E-learning using constructivist principles, and incorporating simulations and interactivity can be used successfully in the training of highly specialised and skilled tasks required in the modern workplace

A survey of simulation techniques in commerce and defence

Despite the developments in Modelling and Simulation (M&S) tools and techniques over the past years, there has been a gap in the M&S research and practice in healthcare on developing a toolkit to assist the modellers and simulation practitioners with selecting an appropriate set of techniques. This study is a preliminary step towards this goal. This paper presents some results from a systematic literature survey on applications of M&S in the commerce and defence domains that could inspire some improvements in the healthcare. Interim results show that in the commercial sector Discrete-Event Simulation (DES) has been the most widely used technique with System Dynamics (SD) in second place. However in the defence sector, SD has gained relatively more attention. SD has been found quite useful for qualitative and soft factors analysis. From both the surveys it becomes clear that there is a growing trend towards using hybrid M&S approaches

Building capacity in climate change policy analysis and negotiation: methods and technologies

Capacity building is often cited as the reason “we cannot just pour money into developing countries” and why so many development projects fail because their design does not address local conditions. It is therefore a key technical and political concept in international development. Some of the poorest countries in the world are also some of the most vulnerable to the impacts of climate change. Their vulnerability is in part due to a lack of capacity to plan and anticipate the effects of climate change on crops, water resources, urban electricity demand etc. What capacities do these countries lack to deal with climate change? How will they cope? What steps can they take to reduce their vulnerability? This innovative and high-profile research project was part of a larger project (called C3D) and conducted with non-governmental organisations in Senegal, South Africa and Sri Lanka. The research involved several participatory workshops and a questionnaire to all three research centres

Evaluation of the interactive multimedia business simulation SPACE (Simulating Project Auditing and Controlling Excellence)

This report presents the evaluation of the computer-based simulation SPACE – Simulating Project Auditing & Controlling Excellence – which is an interactive multiedia business simulation developed in partnership by Andersen Consulting and Siemens AG. The aims of SPACE are fostering self-directed learning and the acquisition of applicable knowledge in the economic domain regarding construction and solution projects of US GAAP. The evaluation was conducted in cooperation with the Institute of Educational Psychology at the Ludwig-Maximilians-University in Munich. The aim of the evaluation was to compare the effectiveness of SPACE with a traditional classroom instruction. Therefore, a problem-based transfer task was designed which assessed learning gains with respect to applicable knowledge in the following areas: (1) strategic knowledge and problem-solving skills, that means selection of appropriate information and strategies to solve a realistic business problem, (2) basic skills to calculate POC and (3) conceptual knowledge, i.e. an understanding of principles and interconnections of concepts in the domain. 38 students of business administration participated in the evaluation. 19 students learned eight hours with SPACE, the other 19 students received a traditional classroom instruction lasting also eight hours in the same subject area of US GAAP. Results show that SPACE was significantly better with regard to strategic knowledge and applying problem solving skills. In other words, the study showed that SPACE is superior to classroom instruction in this area of knowledge acquisition and application. In the other areas of basic skills to calculate POC and conceptional knowledge, differences were not significant between the classroom instruction and SPACE. When SPACE is employed under realistic conditions, i.e. in business, it can be assumed that SPACE is even more superior to classroom instruction.Das computerbasierte Lernprogramm SPACE (Simulating Project Auditing & Controlling Excellence), eine interaktive, multimediale Simulationssoftware, wurde von Anderson Consulting und der Siemens AG entwickelt. SPACE zielt auf die Förderung selbstgesteuerten Lernens und die Vermittlung anwendbaren Wissens. Das Simulationsprogramm behandelt inhaltlich die Kalkulation von Projektdaten auf Basis von US GAAP. Die hier berichtete Evaluationsstudie hatte zum Ziel, die Effektivität von SPACE im Vergleich zu einem traditionellen Klassenzimmerunterricht festzustellen. Mit einer problemorientierten Transferaufgabe wurden folgende Dimensionen erfasst: (1) Strategisches Wissen und Problemlösefertigkeiten (hierbei ging es um die Selektion relevanter Informationen und Strategien in Bezug auf eine realistische Problemstellung), (2) Basisfertigkeiten zur Berechnung von POC und (3) konzeptionelles Wissen im Sinne eines Verständnisses von Prinzipien und Zusammenhängen innerhalb des behandelten Inhaltsgebietes. An der Studie nahmen 38 Studenten der Betriebswirtschaftslehre teil. 19 Studenten lernten in einem Zeitraum von acht Stunden mit SPACE, die anderen 19 Teilnehmer nahmen an einem achtstündigen Klassenzimmerunterricht zum selben Inhaltsbereich teil. Hinsichtlich der Dimension "Strategiewissen und Problemlösefertigkeiten" schnitten diejenigen Studenten signifikant besser ab, die mit SPACE lernten. Das Simulationsprogramm zeigte sich somit in Bezug auf diese Dimension der Wissensanwendung dem traditionellen Klassenzimmerunterricht überlegen. In den Dimensionen "Berechnung von POC" und "Konzeptionelles Wissen" ergaben sich keine signifikanten Unterschiede zwischen den beiden Untersuchungsgruppen. Es ist anzunehmen, dass SPACE dem traditionellem Unterricht deutlicher überlegen ist, wenn das Lernprogramm unter realistischeren Bedingungen, d.h. in Betrieben, eingesetzt wird