Teaching Strategic Management with a Business Game

Knotts, Ulysses S.; Keys, J. Bernard

doi:10.1177/1046878197284004

Cited by 61 publications

(36 citation statements)

References 18 publications

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“…In relation to course objectives, previous studies on teaching strategic management have often referred to the several main objectives that are listed in Table 5 ( Alexander et al, 1986;Betts, 1978;Boyd and Summers, 1983;Guth, 1982;Knotts and Keys, 1997;Thomas, 1998;Wolfe, 1997). However, it appears that the objectives listed below are more inline with the traditional planning view of strategic management.…”

Section: Article In Pressmentioning

confidence: 86%

“…Summer et al further identified sub-areas under each component and suggested that there are linkages and intersections among the key areas of strategy that researchers and academic staff should focus on. Similarly, Guth (1982), Keys (1997) and Knotts and Keys, (1997) also identified five main teaching areas: (1) defining strategy, mission and objectives, (2) external analysis, (3) internal analysis, (4) selection of strategies and (5) finally strategy implementation and evaluation. It is also evident that many textbooks on strategic management (David, 2000;Johnson and Scholes, 2002;Lynch, 2000;Pearce and Robinson, 1997;Thompson and Strickland, 2003;Wheelen and Hunger, 1995) are structured around these five areas and that there are a number of frequently used and cited tools and theories under these five areas in teaching strategic management, as presented in Table 3.…”

Section: Identifying the Boundaries Of The Fieldmentioning

confidence: 96%

“…Despite the fact that studies in this area do exist, many of them were completed in the late 1970s or in early 1980s, and are therefore outdated (see Alexander et al, 1986;Betts, 1978;Summers, 1982, 1983;Eldredge and Galloway, 1983;Hegarty, 1976;Guth, 1982). Other studies focus on one teaching method, such as the case method (Jennings, 1996) and business simulation games (Keys, 1997;Knotts and Keys, 1997;Wolfe, 1997;Wolfe and Roge, 1997). With regard to teaching strategic management in tourism and hospitality schools in particular, a number of studies have been undertaken by Kendall and Harrington (2003), Martin and McEvoy (2003), Russell and Russell (1996).…”

Section: Introductionmentioning

confidence: 98%

See 2 more Smart Citations

In pursuit of contemporary content for courses on strategic management in tourism and hospitality schools

Okumuş

Wong

2005

International Journal of Hospitality Management

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Section: Article In Pressmentioning

confidence: 86%

Section: Identifying the Boundaries Of The Fieldmentioning

confidence: 96%

Section: Introductionmentioning

confidence: 98%

See 1 more Smart Citation

In pursuit of contemporary content for courses on strategic management in tourism and hospitality schools

Okumuş

Wong

2005

International Journal of Hospitality Management

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“…That few simulations allow businesses to fail, is probably because these simulations have been created for strategic management classes, and learning from business failure is not a primary objective of this pedagogy (see Knotts & Keys, 1997).…”

Section: Simulationsmentioning

confidence: 99%

Educating Entrepreneurship Students About Emotion and Learning From Failure

Shepherd

2004

AMLE

336

250

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As theory develops and increases our understanding of the role of emotion in learning from failure, entrepreneurship educators have the opportunity to reflect these advancements in their pedagogies. This requires a focus on how students "feel" rather than on how, or what, they "think." I offer suggested changes to pedagogy to help students manage the emotions of learning from failure and discuss some of the challenges associated with measuring the implications of these proposed changes. I then expand my scope to explore possibilities of educating students on how to manage their emotions to avoid failure and, more generally, improve their emotional intelligence and for organizations to improve their ability to help individuals regulate their emotions. Entrepreneurship theory focuses on how to create and grow businesses through the discovery and exploitation of opportunities to bring into existence future goods and services (Shane & Venkataraman, 2000;Venkataraman, 1997) as well as how to avoid failure (McGrath, 1999).1 Entrepreneurship scholars acknowledge that not all attempts to launch and grow a business are successful, but even when failure occurs the entrepreneur has an opportunity to learn from the experience, and thereby improve his or her chance of success in the next entrepreneurial endeavor (Minniti & Bygrave, 2001).The above concepts are reflected in the following textbook quotes: "Businesses fail, but entrepreneurs do not. Failure is often the fire that tempers the steel of an entrepreneur's learning and street savvy" (Timmons, 1999: 47). "In order to succeed one first has to experience failure. It is a common pattern that the first venture fails, yet the entrepreneur learns and goes on to create a highly successful company" (Timmons, 1999: 30). However, this process of learning from failure can be emotionally difficult. Hisrich and Peters (2001) offer advice on how the entrepreneur can "deal with" business failure:First and foremost, the entrepreneur should consult with his or her family. . . . This discussion will also help alleviate some of the stress of dealing with bankruptcy. Second, the entrepreneur should seek outside assistance from professionals, friends, and business associates. . . . Third, it is important to not try to hang on to a venture that will continually drain resources if the end is inevitable. . . . The time spent could be more effectively used to either start over or do something else (pp. 595-596).These textbook excerpts suggest a number of important points.2 First, failure is an important source of learning for entrepreneurs. Second, bankruptcy is a difficult and stressful event for the entrepreneur and his or her family. This implies that business failure can generate a negative emotional reaction. Third, entrepreneurs are advised to seek outside assistance, primarily for sympathy and emotional support. Such advice implies that 1 McGrath (1999) argues that there is a tendancy to view failure negatively, which introduces a pervasive bias in entrepreneurship theory and research...

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“…So this could discourage lecturers to produce computer-based games for learning. For example more effort and time is needed in the preparation of games, compared with cases and text alone (Knotts & Keys 1997).…”

Section: Survey -Results and Analysismentioning

confidence: 99%

The Planning and Implementation of Computer-based Games for Project Risk Management Education: A Preliminary Case Study

Baccarini

Xia

Caulfield

2013

AJCEB-Conerence Series

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This paper reports the preliminary stages of an action research project for the design, development and assessment of a computer-based game for student learning about project risk management. A computer game was created through the use of systems dynamic software (Simsoft) incorporating a land development project. The game was played by final year undergraduate construction management students who had to make decisions in identifying, assessing and managing project risks. A survey of their experience found: that most students had not experienced this form of online educational game previously in their studies despite the ubiquity of information technology for learning purposes in the university sector;there was no strong support for the idea that the acquisition of knowledge was better compared to conventional learning through lectures and books; the computer-based experience was enjoyable thus indicating it drew them into the learning environment; and student testing found they had gained understanding of the project risk management process.

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Teaching Strategic Management with a Business Game

Cited by 61 publications

References 18 publications

In pursuit of contemporary content for courses on strategic management in tourism and hospitality schools

In pursuit of contemporary content for courses on strategic management in tourism and hospitality schools

Educating Entrepreneurship Students About Emotion and Learning From Failure

The Planning and Implementation of Computer-based Games for Project Risk Management Education: A Preliminary Case Study

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