Creating Value in Marketing and Business Simulations

Abstract

Simulations are a form of competitive training that can provide transformational learning. Participants are pushed by the competition and their own desire to win as well as the continual feedback, encouragement, and guidance of a Business Coach. Simulations enable students to apply their knowledge and practice their business skills over and over. Taken all together, these conditions help students develop their competence in marketing and business. Competitive business simulations are inherently valuable learning experiences, but this potential can be greatly enriched. The purpose of this article is to summarize the development process of a modern business simulation, illustrating how a valued pedagogy can be enhanced through careful planning and thoughtful consideration of the goals, strategy, features, and benefits of the learning experience.