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Business Simulator

Definition

The use of business games as a learning tool to educate


administrators ispopular in undergraduate courses. The literature
review shows that initially the publications about businessgames
were merely explanatory. Then, they began to address teaching-
learningrelationships provided by the experience, and more
recently they startedto use the methodology as a business
management laboratory. Numerousresearches have shown that
business games can contribute to the learning ofparticipants.
Business simulators can be classified as:

Specific: when they are focused on simulating the activities of a


specific area of a company such as marketing, finance and
production. Among the main simulators of this type we have:
Markstrat, Brandmaps, Marketplace, Shoes: A marketing game
and Marketing Simulation, which are oriented to simulate
marketing activities; Fingame: for the area of finance; Forad:
focused on the area of international finance; Intopia: for
international business; The Management / Accounting
Simulation: for the accounting area.
The benefits of business simulators are that they
offer students and entrepreneurs an innovative
way to:

Perfect your skills, apply strategic concepts, and evaluate strategies in


a current competitive environment
Business Simulator as an Academic Instruction

The use of business simulators, increasingly widespread both in


academic education and business training, aims to bridge the gap
between theory and practice in traditional education. With these
tools, students can learn without danger of destroying real resources
and with the extra benefit of being able to condense, in the time
that lasts a university semester, processes that in the real world
would take years to occur.
Numerous researches have agreed that
business simulators:

They allow the application of knowledge to the solution of problems.


They improve the transfer and retention of knowledge.
They increase the understanding of abstract concepts and the
motivation of the students.
Level up; that is, they are more effective with those students who had
a low pre-simulation performance.
In conclusion
Business simulators are tools that strengthen certain skills in
students. Thus, these business games are new methods in the
learning process that allow you to establish a simulated business
environment so that students can put into practice knowledge about
strategies as well as understand the relationships between different
areas of business.

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