Experiential Learning Through Business Simulation Game in Strategic Management
20th Annual Convention of Strategic Management Forum, “Strategy, Innovation and Entrepreneurship Curriculum in the Era of Disruption”, 25-27 December 2018, Indian Institute of Management Tiruchirapalli ( IIM Trichy).
6 Pages Posted: 17 Jan 2019
Date Written: December 26, 2018
Abstract
This paper discusses the use of business simulation games in the strategic management domain. Business simulation games have many attributes of effective learning environments, as suggested by experiential learning theory (ELT) e.g. business simulation games include reflective observation and experimentation through iterative decision making, complexity, and learning by trial-and-error etc. Business simulation exposes the participants to decision making situations in a real-world setting. By overcoming challenges that business simulation games contain, students evolve the capacity to make quick and effective decisions, even to predict future business events and their possible outcomes. Business simulations are very effective in facilitating strategic management learning. The evidence favours business simulation over other pedagogical tools with respect to retention of what is learned. Therefore, integration of business simulation games with the strategic management courses is highly recommended.
Keywords: Experiential Learning, Business Simulation, Pedagogy in Strategic Management
JEL Classification: M1, M3
Suggested Citation: Suggested Citation