More Than Fun and Games: Reconsidering the Virtues of Strategic Management Simulations

Zantow, Kenneth; Knowlton, Dave S.; Sharp, David C.

doi:10.5465/amle.2005.19086786

Cited by 126 publications

(88 citation statements)

References 12 publications

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“…The most relevant generic competences for students were the capacity to learn, capacity to adapt to new situations, problem solving and teamwork. These findings agree with those obtained by previous research on the effectiveness of e-learning methodologies that highlight the positive effects of these methodologies in fostering these kinds of generic skills in the students (Fu et al 2009;Zantow et al 2005). In the case of specific managerial ones, the most valued were related to the understanding of the role of different economic agents and management concepts.…”

Section: Discussionsupporting

confidence: 82%

“…Most of the times, these aspects are characteristics of the methodology, which are derived from the fact of being based on ICT. For example, the benefits considered can be based in the reduction of limitations due to time or space restrictions, the autonomy gained by students in their learning process, the possibility of being more active in the construction of their learning, the immediate feedback received, the practice in an on-the-job situation, effects on their motivation, the possibility to avoid risks of real decisions and the apprehension of failures or reprisal (Fu et al 2009;Gilgeous and D'Cruz 1996;Zantow et al 2005).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

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The contribution of virtual enterprises to competence-based learning: an assessment from the students’ perspective: Case study

2015

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Section: Discussionsupporting

confidence: 82%

Section: Theoretical Backgroundmentioning

confidence: 99%

The contribution of virtual enterprises to competence-based learning: an assessment from the students’ perspective: Case study

2015

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“…For instance, it enables motivated learners to customize the learning environment to increase their mastery of the content domain (Kraiger & Jerden, 2007). In addition, learner control can induce active learning and allow learners to generate relationships among new concepts and their existing knowledge (Reid, Zhang, & Chen, 2003;Zantow et al, 2005).…”

Section: Simulation-based Training 15mentioning

confidence: 99%

“…Simulations can also immerse trainees in practice environments that may be too dangerous in the real world, allow trainees to practice when actual equipment cannot be employed, or expose trainees to situations that occur infrequently in reality. Perhaps more importantly, the experiential learning environment created by simulations is critical for enabling trainees to experience emotional arousal during performance episodes, develop an understanding of the relationships among the different components of the system, and also integrate new information with their existing knowledge (Cannon-Bowers & Bowers, in press;Keys & Wolfe, 1990;Zantow, Knowlton, & Sharp, 2005). As Katz (1999, p. 332-333) states: "The elegance of business simulations is instantly evident to anyone facing a classroom of twenty-five 20-year-olds who possess almost no direct business experience, but are still expected to walk away with a feel for the impact of their decision-making, the historic element of business, the presence of real competition, and the role of dumb, blind luck.…”

Section: Simulation-based Training 10mentioning

confidence: 99%

Current issues and future directions in simulation-based training in North America

Bell

Kanar

Kozlowski

2008

The International Journal of Human Resource Management

173

106

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A number of emerging challenges including globalization, economic pressures, and the changing nature of work have combined to create a business environment that demands innovative, flexible training solutions. Simulations are a promising tool for creating more realistic, experiential learning environments to meet these challenges. Unfortunately, the current literature on simulation-based training paints a mixed picture as to the effectiveness of simulations as training tools, with most of the previous research focusing on the specific technologies used in simulation design and little theory-based research focusing on the instructional capabilities or learning processes underlying these technologies. This article examines the promise and perils of simulation-based training, reviews research that has examined the effectiveness of simulations as training tools, identifies pressing research needs, and presents an agenda for future theory-driven research aimed at addressing those needs. been an increased prevalence of simulation-based training in both academia and industry. Faria (1998), for example, found that 97.5% of business schools used simulation games in their curricula. Faria and Nulsen (1996) estimated that 75% of US organizations with more than 1,000 employees were using business simulations, and it has been estimated that in 2003 the corporate simulation-based training industry generated between $623 and $712 million in revenue globally (Summers, 2004).The increased prevalence of simulations is due, in part, to the many potential benefits they offer as a training medium. Like other types of distributed learning systems, simulations allow training to occur almost anywhere and anytime, and this flexibility can be used to reduce or eliminate many of the variable costs associated with traditional training, such as classrooms and instructors (Summers, 2004). Simulations also possess unique features that create the potential for instructional benefits not offered by other instructional mediums. For example, simulations can be used to create a synthetic-or micro-world that immerses trainees in a realistic experience and exposes them to important contextual characteristics of the domain (Schiflett, Salas, & Coovert, 2004). Simulations can also be used as realistic practice environments for tasks that are too dangerous to be practiced in the real world or to provide opportunities for practice on tasks that occur infrequently (Cannon-Bowers & Bowers, in press).Simulation-Based Training 4 Elliott,Despite their vast potential, there are a number of costs and challenges associated with utilizing simulations to deliver training. One challenge is that the fixed costs associated with developing simulations are high and can be prohibitive for smaller organizations with limited training budgets. For example, it has been estimated that simulations delivered via e-learning can require 750 to 1,500 hours of development for each hour of training (Chapman, 2004).Perhaps a more important challenge is that research on the...

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“…For example, simulations are designed to replicate entrepreneurial practice in the context of EE programs 1 (Pittaway and Cope 2007b). Since simulations help students to connect course contents with practical knowledge (Zantow, Knowlton, and Sharp 2005), learners are facilitated in acquiring expertise from additional EE activities. Thus we may expect that if EE is imparted mainly by adopting a 'practice-oriented approach' , students will benefit from attending additional EE initiatives in a similar fashion, as do students with founding experience.…”

Section: Entrepreneurial Teaching Pedagogymentioning

confidence: 99%

Entrepreneurial education and learning at universities: exploring multilevel contingencies

Hahn

Minola

Gils

et al. 2017

Entrepreneurship & Regional Development

130

106

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Despite the worldwide increase in entrepreneurship education offered at universities, there is an ongoing debate whether and under which conditions this type of education contributes to students' entrepreneurial learning. Building on human capital theory, we hypothesize that the exposure to various entrepreneurship education initiatives has an inverted U-shaped relationship with entrepreneurial learning outcomes. We also argue that this relationship is moderated by the entrepreneurial experience of the students, the teaching pedagogy applied in entrepreneurial initiatives offered at the university and the prevalence of opportunity-driven entrepreneurship in the country. A multi-level analysis on a cross-country sample of 87,918 students resulting from GUESSS ('Global University Entrepreneurial Spirit Students' Survey') strongly confirms our hypotheses, and allows us to discuss implications for researchers, educators and policy makers with respect to the nature of entrepreneurial learning, the design of entrepreneurial education programs, as well as the contextual conditions that impact entrepreneurial learning outcomes.

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More Than Fun and Games: Reconsidering the Virtues of Strategic Management Simulations

Cited by 126 publications

References 12 publications

The contribution of virtual enterprises to competence-based learning: an assessment from the students’ perspective: Case study

The contribution of virtual enterprises to competence-based learning: an assessment from the students’ perspective: Case study

Current issues and future directions in simulation-based training in North America

Entrepreneurial education and learning at universities: exploring multilevel contingencies

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