Business Simulations

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Business simulations are a type of simulation involving business. They can be either scenario-based or numeric-based and are sometimes simulation games on personal computers or board games. Companies developing business simulations include Powersim Solutions, Inc.,PriSim Business War Games, Targetsim, Business Training Systems, Forio Business Simulations,Learning Dynamics and SMG. Sports Business Simulations is the first company developed around Forio Business Simulations' technology and specializes in the development and marketing of simulations of the business of sports organizations.

1 Purpose & Objectives
2 Scenario Simulations
3 Numeric Simulations
4 External Links

[edit] Purpose & Objectives

Most business simulations are used for business acumen training and development. Learning objectives include: strategic thinking, finance/ratios, market analysis, operations, and teamwork/leadership.

[edit] Scenario Simulations

A scenario is played out in a simulated environment and the learner or user is asked to make decisions on how to act in the simulations. Often multiple choice alterantives are used and the scenario is played out following a branching tree based on which decisions the learner makes. Throughout or at certain intervalls feedback is provided. These are similar to role-play simulations.

[edit] Numeric Simulations

A numeric simulation can mimic a whole company on a high level or it can be more detailed and mimic specific organizational units or processes. In a numeric simulation the learner or user makes decisions by pulling levers and dialers as well as through inputting numbers. The decisions are processed and the outcomes are calculated and shown in reports and graphs, eg. price and volume as well as number of employees can be decisions and the outcome can be viewed in e.g. an income statement, a balance sheet and a cash flow statement. Feedback is given throughout the simulation or at certain intervalls e.g. when a year has passed. Many numeric business simulations include elements of competition against other participants or against computer generated competitors.