Module Code - Title:
MI6303
-
BUSINESS ANALYTICS SIMULATION
Year Last Offered:
2024/5
Hours Per Week:
Grading Type:
N
Prerequisite Modules:
Rationale and Purpose of the Module:
This module is a simulated exercise through the medium of a digital platform. It provides an interactive, self-directed, experiential learning experience whilst holistically engaging and developing the students skill set in strategic decision making . It allows students to take control of a business, test their assumptions, develop their management skills and learn from their mistakes. This module supports an integrative learning effect as the sum of knowledge in other modules compliments the challenges students face in the simulation.
Syllabus:
Students are informed on how simulation models can be used to show the eventual real effects of decision making and subsequent actions in a business setting and the implications for the management team. They are coached on how to use the game, the stages involved and the outcomes required. Students maintain a diary throughout the completion of key millstones and this forms the basis of a reflective learning paper submitted on completion of the module. In addition groups deliver a strategy document demonstrating their problem definition process and their account of the complexity of the businesses operating environment, the rationale for the decisions made and the outcomes of these decisions financially and non-financially. The students are required to complete a short 2 page introspective essay on the entire simulation experience.
Learning Outcomes:
Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)
1. Demonstrate engagement with the digital platform to operate a business in a virtual environment.
2. Demonstrate an understanding of how decisions affect business in a holistic real time manner.
3. Gain an appreciation of the inter-relatedness of functional decision-making of a management team and predicting the effects of changes before implementing them.
Affective (Attitudes and Values)
1. Demonstrate personal persuasion, communication and technical skills
2. Develop personal and interpersonal skills such as communication, information, project and meeting management.
3. Self-evaluate and critique their role as decision maker, team player and ability to deal with failure and consequences of poor decision making .
Psychomotor (Physical Skills)
N/A
How the Module will be Taught and what will be the Learning Experiences of the Students:
The teaching and learning strategy is practical in nature and will be driven by the enterprise game. The use of the simulation game will encourage both interdependent as well as independent learning. Lectures will introduce students to key business concepts and theories that will then be practically explored in tutorials within the simulation. The simulation allows a highly experiential and iterative learning process, where students will analyse the outcomes of their business decision-making, then adapt their strategy until an optimal outcome is reached.
Lab contact hours will be self-directed for the most part as students engage with the simulation.
Research Findings Incorporated in to the Syllabus (If Relevant):
Prime Texts:
Erdener Kaynak, J. Bernard Keys, Joseph A. Wolfe (2009)
Business Simulations, Games and Experiential Learning in International Business Education
, Taylor & Francis
Arthur A., Jr. Thompson & Gregory J. Stappenbeck (2010)
The Business Strategy Game: A Global Industry Simulation
, McGraw Hill
Other Relevant Texts:
Programme(s) in which this Module is Offered:
Semester(s) Module is Offered:
Summer
Module Leader:
michaelp.obrien@ul.ie