The Impact of Serious Games in Economic and Business Education: A Case of ERP Business Simulation

Digitalisation nowadays impacts business environments significantly. Therefore, if higher education wants to educate students properly for a successful career path, the business and economics curriculum must be enriched with innovative teaching approaches covering actual topics, such as, for example, the implementation of the ERPsim business simulation, a representative of serious games. The ERPsim business simulation is based on SAP ERP, and is aimed at teaching ERP concepts. It covers different business processes, and allows students to learn using a hands-on approach, simulating real-life scenarios. The presented research focuses on using an ERPsim business simulation as the introduction to the course. The simulation was implemented to ease the introduction of ERP and IT concepts to the business and economic oriented students. Considering the positive effects of serious games and gamification, our research was formed and focused on knowledge acquisition and future student engagement. We researched whether participation in the introductory simulation results in significant knowledge gain and impacts students’ future course engagement. The data were gathered using a self-assessment questionnaire before and after an introductory simulation. The results were highly positive, confirming many positive aspects of business simulation, among others, significant knowledge increase in the domains of business process and ERP transactions, and in the domain of technical knowledge for SAP ERP. The results confirmed that the introductory simulation is appropriate for introducing ERP concepts to newcomers, and, nevertheless, confirmed the positive impact on their intent on future course engagement.

Business Simulation Training Using Monsoonsim

Business simulation training has been conducted by the School of Information Technology, Information Systems Department, Ciputra University, using MonsoonSIM. The aim of this activity is to introduce the concept of Enterprise Resource Planning (ERP) to students through virtual business simulation game. This training was conducted online, due to to Covid-19 pandemic. By using MonsoonSIM software, students can manage a virtual company and learn the company's business processes. Learnings in this training were in the form of material module explanations, simulations, discussions, and evaluations. This program was attended by students from Junior High School and Senior High School. Participants not only play individually to learn from the game experience, but also in a team to compete to be the best virtual company that can dominate the market within a predetermined period of time. By participating in this training, students can manage the operational processes of a virtual company, understand existing resources, and can make a company planning strategy in order to survive and grow.

Why Students Should Be Taught Differently: Learner Characteristics, Learning Styles and Simulation Performance

Background Business simulation as an instructional tool helps in developing integrative thinking and decision making skills. It is being taught to audiences who differ considerably in age, work experience (learner characteristics) and learning styles. The use of simulations is likely to grow further with advancements in internet technology and the fact that simulations are very amenable to remote modes of instruction. Aim This study aims to assess how learner characteristics and learning styles impact business simulation performance. It further assesses the combined effect of learner characteristics and learning styles on performance in business simulations, we specifically consider the manner in which learning styles moderate the impact of learner characteristics (age) on simulation performance. Method The study was conducted with 605 students of full time MBA and executive MBA programs with age group varying from 21 years to 53 years. They were taught using the same business simulation by CAPSIM. The learning styles were measured using Felder-Solomon’s instrument ‘Index of learning style’. Regression analysis was conducted with predictor variables of learner characteristics and learning styles and outcome variable of simulation performance. The moderating effect of specific learning styles on learner characteristics was identified. Results The findings indicate that age is a significant predictor of simulation performance (younger, tech savvy students do better). Also, the use of reflective learning style enables better performance in business simulations. Older students are able to draw on experience and benefit more from reflective learning, for business simulations which involve integration across functions. Conclusion The study enhances our conceptual understanding of the factors enabling performance in business simulations and provides specific direction on how instructors must adapt facilitation approaches for different age groups of participants. Reflection is important for learning with business simulations; hence, the reflective learning style should be encouraged particularly among older students.

Millennials’ Strategic Decision Making Through the Lens of Corporate Social Responsibility and Financial Management

Corporate Social Responsibility (CSR) is the touchstone for millennials when looking at the means for making their world a better place. Higher education’s focus on CSR has allowed millennials to focus their decision-making using a CSR/stakeholder approach to financial management decisions. Millennials’ support for a CSR/stakeholder approach has grown as they have been completing college. The CSR/stakeholder approach has increased partly due to social awareness created by curricula that highlights areas of social and environmental inequality. This CSR/stakeholder approach has recently emerged as a bona fide strategic management option globally. This paper extends CSR research by evaluating millennial financial decisions and the resulting competitive company performance in a widely used business simulation. Proactive university equality initiatives, resulting in curriculum changes, reinforce millennials’ ethos of social and environmental sustainability. As millennials will soon take the reins of industry, the results of their ethos will significantly influence society.

Employability focused technology enhanced hybrid and online accounting capstone experience

In this paper, we share insights from our experience of harnessing technologies to innovatively design a capstone experience for large cohorts of accounting students in hybrid and online environments, informed by insights from key stakeholder consultations and relevant research. To support scaffolded development of professional skills and identity in a short span of eleven weeks, we designed a coherent suite of experiential learning and assessment activities based on contemporary events, an Enterprise Resource Planning business simulation, employability skills training and authentic case studies. Consistently high student evaluations of this unit suggest that our students find this experience valuable. Student responses to the Graduate Attribute Scale in the Graduate Outcomes Survey have shown improvement following the introduction of the capstone unit.

A US study shows satisfaction with teammates improves team performance for face-to-face teams, and virtual teams

Purpose The authors wanted to find out how to improve teamwork in both virtual teams and face-to-face teams. They suspected different factors were in play. Design/methodology/approach Hypotheses were tested using data from 1,110 participants. Participants enrolled in management capstone courses at a large public university in the southeastern US between Spring 2009 and Autumn 2016. The final sample was 997 participants in 242 project teams. Each team had three to six members, with an average number of 4.4. About, 55.6% of participants were operating in VTs. Students worked on a semester-long business simulation project called Glo-Bus, which was designed to model ongoing industry practices realistically. Findings The results showed that individual skills were more influential on teammate satisfaction for FtFs than for VTs. Conversely, VT’s interactions were more pivotal regarding teammate satisfaction for VT processes than FtFs. Originality/value The research results have practical implications for managers. Managers need to focus on developing and selecting employees who are best suited for VTs, or they might become reluctant to continue working in them. But FtFs interact more easily than VTs and managers may prefer to create such teams on the basis of functional skills. It would also be beneficial for managers to assemble teams of individuals more likely to interact and form relationships, even if only via technological mediums such as videoconferencing for VTs.

Business Simulation Games Analysis Supported by Human-Computer Interfaces: A Systematic Review

This article performs a Systematic Review of studies to answer the question: What are the researches related to the learning process with (Serious) Business Games using data collection techniques with Electroencephalogram or Eye tracking signals? The PRISMA declaration method was used to guide the search and inclusion of works related to the elaboration of this study. The 19 references resulting from the critical evaluation initially point to a gap in investigations into using these devices to monitor serious games for learning in organizational environments. An approximation with equivalent sensing studies in serious games for the contribution of skills and competencies indicates that continuous monitoring measures, such as mental state and eye fixation, proved to identify the players' attention levels effectively. Also, these studies showed effectiveness in the flow at different moments of the task, motivating and justifying the replication of these studies as a source of insights for the optimized design of business learning tools. This study is the first systematic review and consolidates the existing literature on user experience analysis of business simulation games supported by human-computer interfaces.

Business simulation in higher education: A case study from a network cooperation perspective

The importance of cooperation between higher education institutions (HEIs) has increased and allows the development of competitive advantages, particularly through the transfer of knowledge and technology. Establishing well-conceived and well-managed cooperation networks can bring benefits and overcome obstacles. This article assesses the importance of cooperation between HEIs, characterizing the type of partner suitable for the establishment of cooperation and analysing the benefits and barriers that may arise. To achieve this objective, a qualitative approach based on a case study was adopted. Portuguese HEIs cooperating in the Business Simulation (BS) project were analysed. The results obtained reveal that cooperation between HEIs, more specifically in the BS project, is fundamental for the exchange of knowledge, the acquisition of new technology and platforms, and the acquisition of new work practices. However, it will be necessary to overcome barriers, principally of a more technological nature. This study uses a new and innovative structure, employing a model that expands knowledge on the topic by identifying three dimensions that influence cooperation between HEIs. The authors also present implications for theory and practice and propose an agenda for future research.