Business Simulation

Only available on StudyMode
  • Download(s) : 304
  • Published : January 20, 2013
Open Document
Text Preview
TRAINING AND DEVELOPMENT
TERM PAPER ON
“BUSINESS SIMULATION”

Under The Guidance Of: Submitted By: Dr. P.U.B. Rao Chanima Bhattacharya Institute Of Technology & Science Roll No. 2011046 Ghaziabad-201007 Section-C PGDM (2011-13)

"I hear and I forget; I see and I remember; I do and I understand." - Confucius

ABSTRACT

Change in time, and advent of the technology have brought into change in almost everything in human lives. A human being has become more and more equipped with knowledge and logics. This is an era of learning by doing. By doing, learners gain on-the-job experience, and they learn faster and better. The modes of training and development have also changed over the period of time. Training is not confined to lecture or only case studies, but it has integrated technology into it, to make learning more experiential. Now, real life situation can be created in virtual world where the learner can take decisions, make mistakes and learn what to do and what not to do. In this term paper, different types of simulations have been discussed. In addition to that, simulation model has also been discussed. Moreover, the importance of business simulation and how does it help a learner to take strategic decisions, have been mentioned.

INDEX
S.No.| Content| Page No.|
1.| Define Business Simulation| 5|
2.| Types of Simulation| 8|
3.| Simulation Model| 13|
4.| Business Simulation Development Format| 17|
5.| Top 5 Tips To Facilitating A Business Training Simulation| 24| 6.| The Advantages Of Games And Simulations As Experiential Exercises| 25| 7.| Importance Of Business Simulation And How Does It Works| 27| 8.| Relating Generative Learning With Business Simulation| 29| 9.| Simulation Games| 36|

10.| References| 37|

1. DEFINE BUSINESS SIMULATION

According to Institute of Training & Development, University of Central Florida[1] states “Simulations (and models, too) are abstractions of reality. Often they deliberately emphasize one part of reality at the expense of other parts. Sometimes this is necessary due to computer power limitations. Sometimes it's done to focus your attention on an important aspect of the simulation. Whereas models are mathematical, logical, or some other structured representations of reality, simulations are the specific application of models to arrive at some outcome.” In the above definition, there is difference being shown between simulations and models. The only similarity is that both of them are abstraction of reality. In a way simulation is the specific part of the reality, may be to emphasize it more. According to Ruth Thomas[2] “Defining simulations is problematic, given the many perspectives of its users. The benefits of simulation are becoming more generally recognized in the e-Learning market, and attempts to capitalize on the positive overtones of the term have led to it being applied outside of its original meaning.” It states that the definition of simulation is hard to make, as it differs according to the needs of the users. Simulation, is mostly recognized in the e-learning market. The Oxford English Dictionary[3] describes simulation as: "The technique of imitating the behaviour of some situation or system (Economic, Mechanical etc.) by means of an analogous model, situation, or apparatus, either to gain information more conveniently or to train personnel."

1. Institute of Training & Development, University of Central Florida http://www.ist.ucf.edu/background.htm 2. Ruth Thomas “What Are Simulations? – The JeLSIM Perspective.”(Page-1) 3. Oxford English Dictionary

In this definition the simulation...
tracking img