05 Dec Business Simulation
Business Simulation module in the International Business Administration programme
During the course of this Business Simulation module, the 2nd year International Business Administration students will have the opportunity to gain experience in advanced aspects of management. This module will aid in enhancing a range of skills that the students should possess such as marketing, financial management, production & services, research & development, incident management, Business English, communication, ethical dilemmas and social policies/human resource management. In addition to this there will be a bi-weekly airline-game cycle which includes marketing and financial management.
This is also very motivating for the students as they have a platform to practice all those theoretical knowledge they gain from the lectures, workshops and course documents. Nevertheless, the simulations also creates a competitive environment where by students may compete within their assigned groups and have the chance to manage the dominating team.
The game itself also gives room for decision making, tactical and strategic thinking and management, forecasting and marketing activities. The perfection of these skills will in turn help the team stand out amongst others and aid in the construction of the business plan.
In addition to this, the overall module assignment will also cover crisis management where by the students react to crisis situations by the help of incident handlings and crisis plans.
The problem based learning concept practised at Stenden University Bali also gives room for the students to apply prior knowledge and gain insight on similar real life cases and examples of module related businesses that have faced similar crises that the students are likely to face during the business simulation.
“I have gained experience from a financial point of view and I also now have a different perspective from being a part of the business rather than being an outsider, this giving an insight and ability to be in aligned with the other operational departments. Being proactive in regards to crisis management is amongst the several skills I have acquired during the course of this module.” – Akhil Gupta (2nd year IBA student)