Developing creative teaching module: Business simulation in teaching strategic management

Research output: Contribution to journalArticle

8 Citations (Scopus)

Abstract

Globalization and liberalization in the business environment have changed the requirements of types and qualities of human capital needed by the corporate sector. In relation to this, business graduates not only need to have theoretical understanding, but they also need to have creative thinking, communication skills and decision making skills based on multidisciplinary knowledge. Simulation game in business education is suggested to fill the gap by exposing students to real business situations. This study evaluates the effectiveness of business simulation in teaching Strategic Management in Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM). A total of 48 students participated in the business simulation game and answered a survey at the end of the Strategic Management course. The objective of this paper is to present the findings in terms of contextual and processual context of using business simulation as an approach in teaching strategic management. The important findings of this research are the ability of simulation in transferring theory to practice, applying multidisciplinary knowledge, managing team dynamics, making decisions in uncertainties and managing in realistic situation. This study highlights the potential of business simulations in developing competent business graduates that fulfill the requirements of the industry.

Original languageEnglish
Pages (from-to)95-107
Number of pages13
JournalInternational Education Studies
Volume6
Issue number6
DOIs
Publication statusPublished - 2013

Fingerprint

strategic management
simulation
Teaching
graduate
decision making
business education
communication skills
human capital
Malaysia
liberalization
student
globalization
uncertainty
industry
ability
management
economics

Keywords

  • Business education
  • Module
  • Simulation game
  • Strategic management
  • Teaching

ASJC Scopus subject areas

  • Education

Cite this

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title = "Developing creative teaching module: Business simulation in teaching strategic management",
abstract = "Globalization and liberalization in the business environment have changed the requirements of types and qualities of human capital needed by the corporate sector. In relation to this, business graduates not only need to have theoretical understanding, but they also need to have creative thinking, communication skills and decision making skills based on multidisciplinary knowledge. Simulation game in business education is suggested to fill the gap by exposing students to real business situations. This study evaluates the effectiveness of business simulation in teaching Strategic Management in Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM). A total of 48 students participated in the business simulation game and answered a survey at the end of the Strategic Management course. The objective of this paper is to present the findings in terms of contextual and processual context of using business simulation as an approach in teaching strategic management. The important findings of this research are the ability of simulation in transferring theory to practice, applying multidisciplinary knowledge, managing team dynamics, making decisions in uncertainties and managing in realistic situation. This study highlights the potential of business simulations in developing competent business graduates that fulfill the requirements of the industry.",
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N2 - Globalization and liberalization in the business environment have changed the requirements of types and qualities of human capital needed by the corporate sector. In relation to this, business graduates not only need to have theoretical understanding, but they also need to have creative thinking, communication skills and decision making skills based on multidisciplinary knowledge. Simulation game in business education is suggested to fill the gap by exposing students to real business situations. This study evaluates the effectiveness of business simulation in teaching Strategic Management in Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM). A total of 48 students participated in the business simulation game and answered a survey at the end of the Strategic Management course. The objective of this paper is to present the findings in terms of contextual and processual context of using business simulation as an approach in teaching strategic management. The important findings of this research are the ability of simulation in transferring theory to practice, applying multidisciplinary knowledge, managing team dynamics, making decisions in uncertainties and managing in realistic situation. This study highlights the potential of business simulations in developing competent business graduates that fulfill the requirements of the industry.

AB - Globalization and liberalization in the business environment have changed the requirements of types and qualities of human capital needed by the corporate sector. In relation to this, business graduates not only need to have theoretical understanding, but they also need to have creative thinking, communication skills and decision making skills based on multidisciplinary knowledge. Simulation game in business education is suggested to fill the gap by exposing students to real business situations. This study evaluates the effectiveness of business simulation in teaching Strategic Management in Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM). A total of 48 students participated in the business simulation game and answered a survey at the end of the Strategic Management course. The objective of this paper is to present the findings in terms of contextual and processual context of using business simulation as an approach in teaching strategic management. The important findings of this research are the ability of simulation in transferring theory to practice, applying multidisciplinary knowledge, managing team dynamics, making decisions in uncertainties and managing in realistic situation. This study highlights the potential of business simulations in developing competent business graduates that fulfill the requirements of the industry.

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