BUSINESS SIMULATIONSA NEW APPROACH TO BUSINESS EDUCATION Presented By Ganesh S
Why Business Simulation• Management simulations are an extension of the case based learning methodology.• In a case study, participants gets into the shoes of a protagonist, analyze and make decisions.• In this business problem usually pertains to the learning objective of the case discussion.• In a management simulation, every participant is a protagonist faced with a business situation which he/she has to assess and make decisions pertaining to a business problem.
Why Business Simulation• However, a simulation makes the business environment come alive by showing participants the outcomes of their decisions and thus provides a forum for discussion based on decisions and outcomes, rather than just decisions.• It enables participants to hone their understanding of a management concept through repeated application in a virtual environment, very similar to the way pilots are taught aircraft dynamics and handling through simulator training.• As a result, management simulations are emerging as an effective experiential learning aid in management courses among B-schools and corporates alike.
Simulation Game for Micro Economics Managing your business in a monopolistic competitive scenario could be tough!About the Game:• Participants apply economic concepts and business models to take critical investment• decisions and achieve the business objectives of the firm.Concepts Involved:(i) Market forms – perfect competition, monopoly, oligopoly, monopolistic;(ii) Complimentary and substitute products;(iii) Elasticity;(iv) Marginal cost and marginal revenue;(v) Cost curve
Simulation Game for Macro Economics Dilemma for RBI and the Finance Minister - Growth, Inflation or Unemployment!About the Game:• Participants apply macroeconomic concepts to decide on fiscal and monetary policy• that take the country on the path of high growth, low inflation and low fiscal deficit.Concepts Involved:(i) IS – LM Curves;(ii) AS – AD Curves;(iii) Foreign Exchange Policy;(iv) Fiscal Deficit;(v) Trade Deficit.
Simulation Game for Management of Banks Taking care of all those interest rates is not easy!About the Game:• Participants apply banking concepts and business sense to take critical decisions that• are required to run a profitable bank.Concepts Involved:(i) Pricing of loan products;(ii) Know Your Customer norms;(iii) Retail banking reach – branches, ATMs;(iv) Investments;(v) Capital Adequacy.
Simulation Game for Working Capital Management To be able to pay all your suppliers on time is the key!About the Game:• Participants apply cash-flow management concepts and business sense to make• critical decisions for running a successful business.Concepts Involved:(i) Customer credit - cash sales, effect of credit period;(ii) Vendor credit - cash payments, effect of credit period;(iii) Discounts and cash cycles;(iv) Inventory management;(v) Credit line requirement from banks.
Simulation Game for Valuation and Discounted Cash Flow Which projects will make you money and which won’t is the question!About the Game:• Participants apply finance and business concepts to arrange funds and bid for• selected projects in order to achieve maximum ROI for the firm.Concepts Involved:(i) Weighted Average Cost of Capital (WACC);(ii) Discounted Cash Flow (DCF);(iii) Decision Tree;(iv) Effects of Leverage;(v) Competitive Bidding
Simulation Game for Derivatives Trading A trader makes a lot of money. See if you have it in you!About the Game:• Participants are required to apply derivative concepts in a trading environment to• achieve the objectives of the firm – arbitrage profiting or volatility profiting.Concepts Involved:(i) Hedging;(ii) Speculation;(iii) Leverage;(iv) Trading;(v) Behavioral Finance
Simulation Game for Supply Chain Management Operations is easy. Let’s see!About the Game:• Participants apply concepts of operations management to make decisions that ensure• demand and supply are matched across different geographies.Concepts Involved:(i) Demand forecast;(ii) Production planning;(iii) Inventory levels and reorder quantity;(iv) Network optimization;(v) Profit Maximization
Simulation Game for Marketing I can sell tap water for Rs. 10. I can sell the same tap water for Rs. 100 too!About the Game:• Participants apply ‘marketing mix’ concepts in a decision-making setting to achieve• the objectives of their Brokerage house - High ProfitsConcepts Involved:(i) Marketing Mix;(ii) Segmentation;(iii) Targeting;(iv) Positioning;(v) 4 Ps.
Beat The MarketIs an interactive simulation where students learn to apply economic conceptswhile managing a firm in a dynamic environment.WHAT MAKES IT UNIQUE:• Models all four market structures• Ability to use for “assessment”• Flexibility to adjust learning levels by clicking on choices• Any number can play• Synchronous or asynchronous learning• Combines simulation experience with automatically graded exercises
Beat The MarketWHY YOU SHOULD USE IT:EASY• The On-Line Platform manages the entire process for you!• The results of assigned games and exercises display automatically in your grade book for every student in your course whether you have 10 or 1000 students.• An on-line “consultant” helps point students in the right direction.EFFECTIVE• Active learning improves comprehension, makes economics relevant with concrete applications, and enhances critical thinking skills.FUN• A simulation and gaming environment motivates students to learn and have fun at the same time, which improves student course ratings.
Experience Change• Experience Change is a simulation that enables Students , leaders and managers to practice leading change in an intensive team-based workshop.WHAT MAKES IT UNIQUE:• In this game, participants play the role of change consultants challenged to help the company successfully implement a new strategy.• The goal is to build stakeholder commitment and achieve a tipping point of company buy-in.
Experience ChangeWHY YOU SHOULD USE IT:Learn …• Change Management and Strategy• Leadership Development• Change Readiness• Project Management• Crisis Managementwith Ease in an Effective way with lots and lotsof Fun
Simulation Game for Holistic Business Management and Entrepreneurship Capstone business simulations engage participants in a • dynamic competition to turn struggling companies into successful, profitable businesses. Build and strengthen: – Business acumen – Advanced strategy and finance skills – Fiduciary responsibility – Competitive analysis – Understanding of cross-functional alignment – Team process skills – Communication skills – Leadership skills
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