BUSINESS SIMULATION GAME AS AN EDUCATIONAL METHOD FOR POSTGRADUATE STUDIES IN MANAGEMENT AND FINANCE

Simulation games have been used in education for many years. Literature provides vast evidence for their application, beginning with basic and primary teaching of children and finishing with advanced and professional training of adults. Business simulation games have been used practically in every domain of science, including such unalike disciplines as medicine, law, mathematics or economics. In recent years, these subject areas have been playing an increasing role in the training of managers.

The article presents a business simulation game as an educational tool applied in the process of educating postgraduate students in the fields of finance, business analysis, management control, performance management and managerial accounting. The main purpose of this work is to present an example of this educational tool’s application in education of the postgraduate students at the Master of Business Administration program at the University of Gdansk.

In the introduction, the choice of using a business simulation game as an effective educational tool in the field of finance and management is justified on the basis of literature overview. Emphasis is put on application of business simulation games in the MBA studies.
Subsequently, exemplary application of an offline, board and token, spreadsheet-aided business simulation game in educating the MBA students at the Gdansk University is presented. The game concept, its objectives as well as the game process itself, with reference to achieving basic educational outcomes, are discussed.

In the conclusion, the article discusses the direct benefits that the postgraduate MBA students achieve through participating in a business simulation game. It also points out some indirect advantages the students may experience when competing with each other in such simulated market circumstances as effective group work, shared responsibility, development of analytical thinking, understanding of business environment, as well as multi-dimensional long- and short-term planning.

This article can direct attention of MBA and other course designers and directors onto the numerous benefits resulting from enriching curricula with business simulation games used as a powerful tool for developing the students’ abilities to strategically plan, tactically develop, and operationally run businesses, without the hanging sword of the risk and the hazard of failure in the real life.