Business simulations can be powerful educational tools. E-learning provides students and employees with a number of tools that recreate real-life conditions. Experiential learning helps develop problem-solving skills and allows students or employees to gain experience with a number of situations. Here are a few facts about business simulation games as learning tools.
1. An Active Approve To Learning
Business simulator games require students or employees to collaborate, create strategies, solve problems and make decisions without actually taking any real risks. This is an experiential or active approach to learning. Students or employees can learn by doing, which is a very effective way to retain knowledge. These games allow participants to gain experience, to be coached through a situation and to retain knowledge. This is a more efficient approach compared to reading, watching videos, answering questions in a written exercise or listening to a lecture since participants are being active instead of passively absorbing information.
2. Create Decision Makers And Holistic Thinkers
Elgood Effective Learning assures that any business strategy games will help participants realise that all business functions and disciplines are connected. They will realise that their actions have an impact on the performance. In order to succeed, participants have to think holistically and to develop strategies. This is a great introduction to the idea that functions do not operate in a silo and that different areas are interconnected.
3. Complement Theoretical Education
Acquiring practical decision-making skills is important, but business games will help participants use these skills without taking any risks.
Instructors can use these games to help students learn about different concepts in a risk-free environment. Participants will then be able to use their virtual experiences when they come across a similar situation at work.
4. Integration Into Business Courses
The business simulations cover a wide range of business concepts. These games can be used to help participants develop their business acumen whether they are taking an international business class, learning about strategies, studying marketing or small service business management just to cite a few examples. These learning tools make a great addition to a traditional lecture.
Educators have access to a flexible schedule editor that allows them to decide how much time students spend on simulations and to adjust the level of the simulation.
5. Works With Different Formats
You can easily find business simulators that are available online and that only require students or employees to use a browser to access the simulation. These learning tools can easily be added to a traditional business class or to an online course.
A lot of educators find that talking about the outcome of the simulation during class is very valuable and encourages everyone to participate.
6. No IT Knowledge Is Needed
There is no need to install any software or to go through a lengthy setup process to get started. Educations can easily start a simulation and not waste any time.
It is possible to run a simulation platform with a simple web browser. This won’t add anything to the workload of your institution’s IT department!
7. Collaborate With Other Participants
Business simulations allow participants to compete against each other and to play with participants from everywhere around the globe. In a business setting, participants from different locations can play together.
8. Understand Business Decisions In A Practical Manner
Business functions are complex and it usually takes years for students to fully grasp these concepts. Understanding that business functions are interconnected is very important, and this is precisely where business simulation games can help. Participants will see how each decision impacts their virtual business.
The average employee may not get the opportunity to make a lot of decisions. They probably don’t get to make decisions that would have a large impact on the business. Business simulations allow employees to gain more experience with decision-making to prepare them to face similar situations at work and make better decisions.
9. Developed Around Economic Theories
Business simulation games are developed around algorithms and theories that have been proven. Participants will encounter plausible situations and will develop their business acumen in an environment that closely mirrors real-life conditions.