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Academic Business Games & Simulations
Imagine making your students feel like they are playing a game whilst they are hard at study. They will love your class!
 Interesting lectures, hands-on lab sessions and relevant case studies are considered to be the necessary elements of a well designed business course curriculum. But isn't this mix missing one essential ingredient? What is the one thing that most college classes can't provide?
Realistic experience.
Web Marketplace business simulation allows students to apply the newly acquired theoretical knowledge in a simulated business world. As the students make realistic business decisions and analyse the results of their actions, the important business principles will become a part of their natural thinking.
More effective learning: The strategy business game environment stimulates the competitive spirit. As students focus on outsmarting the classmates in a friendly game, the competitiveness drives the learning. Learning occurs as a necessity to master the exercise and perform better than the other teams.
While bringing more excitement to the classroom, the realistic experiential learning delivered by Web Marketplace can greatly increase the learning retention rate of your students.
Easy to administer
The Marketplace Processing Centre will set up your simulation game according to your specifications and then handle the game administration throughout the exercise.
As an instructor, you have an instant access to your students' assignments and you can monitor their activity online. The software automatically evaluates the performance of your students to simplify the final grading process.
Free support
To help you get quickly up to speed with Marketplace, we will provide you with all necessary materials such as presentations, coaching tips, FAQ list, syllabus, test bank etc. Our support specialists will work with you to answer any simulation-related questions that you (or your students) may have throughout the course.
For an Academic Information Pack please e-mail or call us today.
Course Design Options
Semester Long Course
At the graduate level, 2 formats are available, a semester or quarter-long course and an intensive short-course. For graduate school, Marketplace is always used as an integrative exercise.
The business simulation is the dominant activity for 8 to 10 weeks. One decision is due each week, with 1 to 2 weeks set aside to prepare a business plan. The class is a mixture of lectures and simulation activity. Usually, one lecture period each week is set aside for team decision making and an executive briefing is often scheduled every other week with each team.
The chief advantage of the semester-long course is that the students have more time to develop their critical thinking skills. They have time to reflect on their decisions and debate the options, trade-offs, and potential outcomes with their team-mates.
Intensive Course
A favourite format is a 4 to 5 day intensive course at either the end of the program (a capstone experience) or midway through it (an integration and transition experience to the concentrations). Each decision round lasts 4 hours, and 1 or 2 days are scheduled for preparation of the business plan (market assessment, tactics, and pro forma financial statements). The lectures are eliminated because it is assumed that the students are well prepared from their prior schoolwork.
The intensive course is ideal for quick and deep learning. It is similar to the Berlitz method for learning languages. It requires total immersion into the learning process; participants eat, breathe, and sleep integrated business management.
The intensive format also encourages cross-fertilization of ideas. The finance manager sits next to the production manager and the marketing person is looking over both their shoulders. On any important decision, there is considerable opportunity to discuss the available options, possible strategies and tactics.
Another advantage is that feedback is immediate. Once the team members have submitted their final decisions, they learn almost immediately how well they did in terms of financial performance, competitive position, and customer satisfaction. This immediate feedback is a powerful way to encourage sound business thought and discourage unsuccessful business practices. Just as important, participants learn to use the tools of management to diagnose their situation and develop strategies and tactics to improve it.
Self Paced Exercise
In the self-paced exercise, the students compete against computer-generated competitors rather than each other. Whenever the students are ready to move on in the exercise, they can submit their decisions and immediately receive feedback from the market. The self-paced format allows the students to work independently or in small teams, and at their own pace. The self-paced exercise requires the least amount of co-ordination for the instructor. To facilitate grading, the instructor is provided details of each student’s strategy and tactics at any point of the exercise.
Self-paced exercises are currently available for the following scenarios:
- Introduction to Marketing
- Strategic Marketing
- Business Fundamentals
- Introduction to Business and Strategy
- Venture Strategy
- Business Management
For an Academic Information Pack please e-mail or call us today.
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