Module Code - Title:
MP6013
-
BUSINESS SIMULATION
Year Last Offered:
2023/4
Hours Per Week:
Grading Type:
Prerequisite Modules:
Rationale and Purpose of the Module:
The primary objective of this module is to provide students withthe opportunity to integrate the knowledge and skills learned from the previous two semesters in a managerial setting through competing in an online simulation game. The game is interactive and experientially based and mirrors real market conditions and business scenarios that require managerial decision making in uncertain conditions.
Syllabus:
Students are informed on how simulation models can be used to show the eventual real effects of alternative conditions and courses of action in a new venture setting and the implications for the owner-manger. 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)
Select and apply appropriate business analytical techniques.
Predict the effects of decisions made on the various functional areas of the business.
Complete scenario planning and risk assessment.
Affective (Attitudes and Values)
Propose and defend group decisions and manage team conflict.
Manage group conflict and team performance.
Enhanced Information Technology skills and competencies for scenario analysis, risk management and managerial decision making.
Psychomotor (Physical Skills)
N/A
How the Module will be Taught and what will be the Learning Experiences of the Students:
Team decision making, achieving a consensus and debating strategic business options.
Dealing with implications of effective and ineffective decision making.
Research Findings Incorporated in to the Syllabus (If Relevant):
Collection of market, industry and competitor information to facilitate decision making.
Prime Texts:
Glazer, H. (2006)
High Performance Operations: Leverage Compliance to Lower Costs, Increase Profits and Gain Competitive Advantage,
, Financial Times Press
Bensoussan, B.E. (2008)
Analysis Without Paralysis: 10 Tools to Make Better Strategic Decisions
, Financial Times Press
Other Relevant Texts:
Taylor, J and Haneberg, T. (2011)
Connecting Top Managers: Developing Executive Teams for Business Success
, Financial Times Press
Programme(s) in which this Module is Offered:
Semester - Year to be First Offered:
Module Leader:
Ben.Kiely@ul.ie