Business Simulation Games: What You Need to Know

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As technology moves us into the future with each passing day, educators are attaining new educational tools that are technology-driven. Aside from the revolutionary e-learning, educators now have a plethora of ground-breaking technologies to improve the educational experience, while at the same time making it easier for the student to gain as much as possible.

One of such emerging technologically-driven educational tool is the Chris Elgood simulation tools. This is particularly proving to be beneficial in the education of business leaders. With this in mind, the business simulation games are increasingly becoming popular with each passing day. For a better understanding of what business simulation games have to offer, as much as they are experimental at this stage, we will explore the tool in all its facets.

#1. They Are a Form of Active Learning

Experience is a great learning tool. According to the Learning Pyramid, ‘learning by doing’ makes it easy for the students in question to retain knowledge. The business simulation games simulate a real experience, which is equivalent to an actual experience. Thus, the simulated experience of collaboration, problem-solving, decision-making and strategising in a risk-free environment makes it very easy for business students to learn and retain the acquired knowledge.

#2. They Provide a Holistic Education and Produce Better Business Decision Makers

Business simulation learning tools are designed to enable students to understand and appreciate the interconnectedness of various business functions and the disciplines. Additionally, the simulation games also allow students to attain first-hand experiences on how decision-making affects the bottom line performance, something that is very critical with regard to developing a holistic thinker and a business leader.

#3. Compliments Theoretical Education Perfectly Well

Having a sound theoretical grounding with regard to matters of economic is fundamental. In many regards, there is no replacement for this knowledge. However, with the simulation games, students are put in a position where they are able to bring out the best of their abilities by understanding the practical side of things in a better and faster way. In this regard, the games are a perfect complementary tool for learning business matters.

#4. The Business Simulation Games Are Easy to Integrate Into Traditional Business Courses

In the discipline of economics and business, there are making subject matters that students are taught. From small business management, marketing, international business to business strategy and much more, there is a lot to learn. Luckily, the simulation games’ flexible and comprehensive schedule editors make it easy for educators to simulate a variety of business courses in varying intensity and length.

#5. The Simulation Games Are Easy to Implement in All Learning Environments

Traditionally, learning matters of business required students to take to the classrooms. However, that has changed with modern technology as there are opportunities to learn through online platforms. Luckily, the simulation tools can easily integrate into any kind of learning environment; be it a traditional call or an online platform.

#6. They Require No Installation of Software or IT Programming Skills and Knowledge

The use of simulation games does not require one to install complex software. As long as you have a device with an internet connection, you are good to go.

#7. The Games Are Built on the Back of Sound Economic Theories

To ensure that the simulation games are accurate, they are founded on sound economic theories. The use of sound economic theories and top-notch algorithms ensures that the simulation games are as accurate as possible while at the same easy to understand.

#8. There Is a Potential for Collaboration Among Participants Across the Globe

Modern business is an international affair. With this in mind, it pays to have an international participation when learning on matters of business. Business simulation enables participants from across the world to engage with one another in this matter.

#9. The Game Give Students an Avenue to Practice Business Decision Making

Business games are by far turning out to be the best way for business students to learn how interconnected business decisions are. By nature, business functions are extremely complex. Moreover, the functions interact in a complex manner, which is hard to replicate with any other business tools.

With this in mind, the complex decision-making is best experienced through business game simulations. Additionally, business organisations can use simulation games to provide their workers, who are not normally engaged in making complex business decisions, with an intricate experience on how difficult it is to make ‘big’ business decisions.