Dr Suresh Srinivasan, Associate Professor of Strategy at the Great Lakes Institute of Management, Chennai, believes that business simulation can be a powerful tool of pedagogy in management education.
Experiential learning
Business simulation, thus, can be an enormous experiential learning exercise, where all the decisions taken by various members of a team are factored in. What happens in an actual market situation is simulated in a real-time environment and students can understand how prudent decisions are made.
Students are keen on picking up a course which has a simulation component as they believe they can go beyond what is being taught in theory, he says. View a video of Prof Srinivasan talking about what role business simulation exercises can play in management education.