Are you considering using educational technology or eLearning tools to help improve the quality of learning and teaching? Do you have any interest in discovering more about simulations for business? Keep reading to discover these 9 things that you should know about business strategy simulation games for businesses.
1. A Type of Active or Experiential Learning
Strategising, problem-solving, business decision-making risk-free and collaboration are all things that can be done using simulator games. Learning by doing is one of the essential principles and ideas of this type of learning and it is proven highly effective for helping to retain the knowledge learned while participating in the simulated learning environment. One of the reasons it’s so effective is the fact that it’s so similar to actually practising with a coach, watching live demonstrations or even competing with written exercises.
2. Improve the Overall Learning Experience of Holistic Thinkers and Decision-Makers
The most important target of these strategy games for business is to help those who are taking part in them to practise their various disciplines and business functions. This has demonstrated to be highly effective in improving bottom line performance. It is believed that the participants of these games will learn to think more holistically and help them come to understand that a company does not operate inside of a silo.
3. Enhances Theoretical Education
Because the ability to make good decisions is a skill that’s needed in business, these games are designed to help increase the understanding of the theories that are taught in a traditional setting by educators. When the student is allowed by their instructor to collaborate on decisions without concern of risk, it gives those students a chance to substantially grow in their knowledge and experience.
4. Easily Integrated Into the Courses For Business
Simulations offer a large selection of business concepts that cover an array of disciplines toward the goal of helping participants grow in their knowledge of the business. Some of the selections include small service business and management, marketing and international business management among others. They make it easy to integrate the tools with any course for business and make the training, within these topics, simple. There’s also a schedule editor that allows the educator to determine the intensity and the length of the simulation courses.
5. These Work Very Well In Most Learning Format
These business simulators are built to be mobile and only require the access of a browser in order to operate. For this reason, they are able to easily be used inside of any traditional classroom or online format. Educators will find that progress by the participants, while using the simulations in the classroom, give considerable value to the course.
6. There’s No Need For Technical Knowledge or Special Software Skills For the Educator
Most educators do not have enough time in the day and for this reason, the software is made so that the educator can implement the use of the simulator without any wasted time. The simulator can be run on any computer as long as it has a connection to the internet. The institution will be relieved to know that their IT department will not be needed for this.
7. Easily Have Students From Around the World
For companies with International locations, this simulation provides an easy way to bring global branches together.
8. Give Participants the Best Possible Way to Expand Their Experience and Knowledge of Business Decisions
There is no better way to learn complex skills in business than by giving participants the opportunity to actually make those decisions without risk to them or the business through these simulations. In most businesses, staff do not get an opportunity to practice decision-making without putting the company at risk. But through the simulations, they’re able to experience making big decisions for the business and seeing what the outcome brings.
9. Simulations Are Built on Sound Principles of Economic Theories
A good learning tool can only be as good as the theories and algorithm it is built upon. This couldn’t be any more true for business games if they are going to simulate today’s real life market conditions in a way that helps improve the participants’ foundational knowledge.