What have you learned
Business simulation is simulation used for business training or analysis. Most business simulations are used for business acumen training and development. Learning objectives include: strategic thinking, financial analysis, market analysis, operations, teamwork and leadership. The business gaming community seems lately to have adopted the term business simulation game instead of just gaming or just simulation. The word simulation is sometimes considered too mechanistic for educational purposes. Simulation also refers to activities where an optimum for some problem is searched for, while this is not usually the aim of an educational game. On the other hand, the word game can imply time wasting, not taking things too seriously and engaging in an exercise designed purely for fun. The concept of simulation gaming seems to offer the right combination and balance between the two.Simulation gaming is also the term that the educational gaming community has adopted.
Business game was a hands-on learning exercise that draws together the information and lessons of prior courses, consolidates our knowledge about the different aspects of running a company, builds our confidence in analyzing the revenue-cost-profit economics of a business, helps us to understand how the functional pieces of a business fit together, provides valuable practice in crafting profitable growth strategies, sharpens our business judgment, and provides a capstone for our business school education. We have gain some useful experience and practice in assessing business risk, analyzing industry and competitive conditions, making decisions from a companywide perspective, thinking strategically about a company’s market position and the kinds of actions it will take to improve it, developing strategies and revising them in light of changing conditions, and applying what we have learned in business school. The bottom line is that business Game adds value by strengthening our preparation for a career in business and management. We learned so much from the point of view professionally and personally. Indeed, the fact of group work teaches us how our manager. Being in group means listening to each other, be agreements on our choices, everyone agrees … that we serve in our future work and evenin everyday life. We made different quarter always together so that everyone knows exactly where we were. We realized our mistakes because we were too focused on our numbers and our desire to improve that we have forgotten our competitors. In addition, we realized that none of us was very comfortable on the numbers. We therefore measure the importance of having a financial management team, as it is almost essential. With this simulation, we learned that each area has its importance. Marketing with advertising, where to invest, newspapers, television … the finance part, choose the number of sellers, which segment choose to discount or not to invest …
We noted early in a notebook what we were doing and the results. A logbook is essential if we want to understand our actions and what they entail. Every week we made a record. Through the summary of the previous quarter we could find what we did right and the mistakes that we had not thought of or even omissions. This simulation was conducted throughout the semester which was handy for putting into practice the theories of our courses: marketing strategy, supply chain… This allowed us to better understand our materials and at the same time to experiment. Sometimes things like advertising for example does not appear as something essential and we have learned that it is actually an essential element. In the end it was an experience and learning, not a material but a set of materials but also on a personal level and behavior. We have had since our first year at school IPAG many courses to acquire a lot of knowledge and ultimately, many theories and sometimes we ask ourselves questions about what certain elements that we will actually learn used in a business and it is through this business game that you realize that everything will be useful in the future, in the life of a business.
Recommendations for future teams
Think about to the competitive teams, anticipate their action in the aim we can anticipate ourselves our tasks. Looking for on the web or books or something else, the same structure of our company to help us to know what they did. Take an example. Think about consequences of our actions and imagine what can happen in the future, evaluate risks before it happened.Better understanding of our mistakes to do not repeat it. Understand why we did that, why it worked or not. Even when it’s well we always need to understand why, never stay in the unknown. Take example of our competitive teams and learn from them.
If we have had the choice of the team, choosing people with knowledge for each course (a good one in financial, a good one in marketing…) Know about everything, learn which market is more favorable, which magazine is better for the advertising, what king (newspaper, sport magazine, television…), we never “try”, we must to know. Take enjoy doing what we do. Understand that in the future it wills not a simulation but reality. It’s a serious work but we must have pleasure to do it. We need to appreciate having her/his own company, be the chief, and know what we do but don’t think it’s just a game.