Business simulation in teaching
This autumn, Professor Leif Hem has tested an online business simulation in the bachelor course SOL 2 Marketing. In the simulation, the students ran businesses in a futuristic market where they produced and sold a product.
“I am very pleased with the arrangement! The feedback from the students is also positive”, he says. The course rated 4.26 on a 5-point scale.
SOL 2 Marketing (in Norwegian) provides an introduction to key concepts, theories and methods that are used in the realization of real market problems in a Norwegian company. The web-based game therefore fits well into the course schedule.
The simulation was done by the students joining groups of two-three people. Over three sessions in Aud Max they competed against each other in the same market. Along the way, students received new information on market segments, prices, product development, promotion and distribution, etc.
“To be successful in the game, we had to apply knowledge gained in the course”, Ruben Søreide and Lise Riska who won the simulation. Their company "AirChair" took a market share of just over 40 percent. They got such a good result because they focused on cost control underway.
“In addition, Ruben and Lise were good at taking a clear position in the market by using relevant marketing tools”, Leif explains.
The simulation game teaches students to apply the theories on practical problems. As a result, the students might have a more comprehensive and practical understanding of the curriculum. “I think that the simulation was a good supplement to teaching”, Leif states.
Curious about the game? Would you consider using simulation in your own teaching? Contact Leif Hem at the Department of Strategy and Management – he is more than happy to contribute!