There are many reasons you should consider implementing experiential learning in the form of business simulations in your business course. Here at Smartsims we consider the following to be the best.
- Information Retention: Students are 80% more likely to retain the information as students are actively learning rather than listening, reading or writing about a concept.
- Students have fun and learn from real-world experience.
- They are learning entrepreneurial, managerial and overall business skills in a no-risk environment where you can guide students to success.
Students will be thinking competitively and are exposed to questions like:
- “What would happen if I implemented this strategy in a real-world company?”
- “What unexpected effects will these decisions have?”
- “What are the consequences of different strategies?”
As the environment is competitive, just like the marketplace they will eventually move into, students learn that in business they will also need to consider the other firms in the market and adjust their strategy as the simulation progresses.
Smartsims Business Simulations are used in a variety of courses ranging from undergraduate level such as Introduction to Business and Principles of Marketing and Advertising, through to Business Strategy/Capstone, General Business, Management Accounting, Organizational Behavior, MBA and Certification Courses for Professional Institutions.