Experiential Learning Through Business Simulation Game in Strategic Management

Download or read book Experiential Learning Through Business Simulation Game in Strategic Management written by Sandeep Vij and published by . This book was released on 2019 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.