Undergraduate Course: Business Simulation (BUST08031)
||College||College of Arts, Humanities and Social Sciences
|Credit level (Normal year taken)||SCQF Level 8 (Year 2 Undergraduate)
||Availability||Available to all students
|Summary||Business Simulation is a practical, integrative business course that requires teams of students to operate a simulated start-up business. Acting as a board of directors, students set the direction for the company to build up the business by making decisions related to its strategy, finance, market, operations, staffing and innovation. It aims to foster interdisciplinary decision-making in an inexact environment and to prepare students for the problems and issues of working in a changing and uncertain world. This course has a quota of 120 students.
Business Simulation is built around a computer-based business simulation of a technology company start-up. Students on the course are formed into company teams of six or so members who will self-allocate themselves into the different board of director roles (Strategy, Finance, Marketing, Operations, HR/Organisation and Innovation) to manage their simulated company through a series of five simulation rounds that represent two years in the life of the company.
The purpose of the course is to provide an experiential learning environment where the connectivity of the different functions within a business is made explicit. Students will have the opportunity to apply their learning from the earlier elements of their degree programme to the problems presented by the simulation; and are required to develop the business, justifying and reporting the decisions they make for their simulated firm.
Students will also learn via taught classes each week. These will cover (in the order indicated below) the various business functions that relate to running a business, focusing initially on lessons drawn from the simulated environment then introducing guest lectures where a practitioner will present a talk about their business experience. This provides a link between the theoretical and practical nature of business management and background and context for the various company groups in managing their business start-ups.
L2: The aims, structure and function of a business
L3: Planning for a start-up business
L4: Organising a small business
L5: Effective team working
L6: Guest Speaker: Case Example - Organising a small business.
L7: Market analysis
L8: Marketing and sales strategy
L9: Operations management
L10: Guest speaker: Case Example - Operations in a Small Business
Innovative Learning Week
L11: Measuring business performance
L12: Guest speaker: Case Example - Financing a Small Business
L13: Finance options for business expansion
L14: Guest Speaker: Contemporary issues in new venture finance
L16: Guest speaker: Case Example: Disruptive Innovation
L17: Leadership in the context of small business
L18: Guest speaker: Leading Successful New Ventures
L19: Debrief and lessons
L20: Guest Speaker: Growth Strategies and Crossing the Chasm
Student Learning Experience
As a course, Business Simulation is built around a computer-generated business start-up simulation. Students are formed into groups of six to be the managers of a business start-up where they have to make the necessary strategic, marketing, financial, operational and organisational decisions for their start-up and throughout the course of the simulation which over the duration of the course will represent two years of the business' operations. Group interactions allow students to learn about the issues surrounding teamwork, effective leadership and the development of social skills within organisations.
Information for Visiting Students
|Pre-requisites||Visiting students must have at least 1 introductory level Business Studies course at grade B or above for entry to this course. We will only consider University/College level courses.
|High Demand Course?
Course Delivery Information
|Academic year 2020/21, Available to all students (SV1)
|Learning and Teaching activities (Further Info)
Lecture Hours 20,
Seminar/Tutorial Hours 9,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
|Assessment (Further Info)
|Additional Information (Assessment)
||Group reports (3 × 20%): 60%
Individual essay (reflective report): 40%
Group Assignments (60% of course marks):
(1) Outline Strategic Plan, 1000 words (20%)
(2) Interim Review of Business Performance and Revised Strategy, 1000 words (20%)
(3) Final Review of Performance and Recommendations, 1000 words (20%)
Groups will be expected to give short oral presentations to their tutor on their plans at the relevant tutorial meeting.
Individual Assignment (40% of course marks):
Personal reflection on the team's business performance, team organization and decision-making processes, and personal lessons learned (1800 words).
||Students on this course will receive multiple sources of formative feedback from course tutors at tutorials through (a) a review of the first two 'board of directors reports' that form part of the course assessment; (b) discussions in tutorials of the key issues and challenges being experienced by the simulated business and as a team.
|No Exam Information
On completion of this course, the student will be able to:
- Understand different perspectives on business decisions and develop intuition, judgement and be able to undertake critical analysis in a dynamic, uncertain and complex environment.
- Evaluate data and information, determine its relevance and validity and apply this to develop an understanding of the simulated business environment and to guide their strategic decision making and creative thinking.
- Demonstrate an ability to apply general management know-how as a member of a team in a simulated business setting.
- Understand and be able to exercise managerial responsibility and work effectively as a team in an organizational setting, including issues of leadership and motivation.
- Understand the interrelationship and interdependence of the separate functional aspects of business management in a holistic/real world context, including conveying complex information to a range of audiences.
|The course is based around a computer-based business simulation, which students access via a browser and which provides information and reports on the development and condition of the simulated business. This computer-based tool provides the simulated economic and business environment, keeps records of all group actions and provides data and information that students can use to make decisions within the simulated business environment. The simulation environment also includes a bespoke collection of chapters containing academic research on the management of business to help link the practical nature of the course and the practical experience of the guest speakers to tools of management that have been developed in wider business contexts. These chapters form a text for the course that is retained by each student on completion.|
|Graduate Attributes and Skills
||Students taking this course will learn problem solving in that they will be analysing facts and situations and applying creative thinking to develop appropriate solutions.
Working as a team, they will learn to communicate and persuade, both orally and in writing, and when challenged be able to articulate and effectively explain information.
The course will help students cultivate skills for working in teams and groups and leading where appropriate.
The requirement to write succinct, business-style reports will build literacy and the ability to produce clear, structured written work.
Using the information from the simulation, students will learn the importance of business information in decision-making and the need to be able to manipulate numbers in a practical context.
|Additional Class Delivery Information
||Lectures will take place in Semester 2.
Tutorials take place weekly starting from week 2 in Semester 2.
|Course organiser||Dr Ashley Lloyd
Tel: (0131 6)50 3817
|Course secretary||Mr Mark Woodfine-Jones
Tel: (0131 6)50 3825