The Influence of Business Simulation on Students’ Entrepreneurship

Business simulations games in education are a valuable asset, as well as their potential benefits are unquestionable. In industry, sophisticated simulators are used to train operators where a mistake on a complicated process could have very expensive or disastrous consequences. This is particularly true of the nuclear industry. Providing managers and operators with simulated but realistic environment before they have to make their decisions on expensive and potentially dangerous technical processes has proven to be a very effective training approach. Simulations are now also being used to help the academic students. Computer simulations help individual students to practice the business decision making without making huge losses in a real company. Involvement simulation into a subject curriculum altered the teacher-centric classroom into the learner-centric, where the participants are collaborate with each other, make decisions and solve the problems. These changes also transform the teacher into a coach and a guide in the classroom by allowing students to make experiments help encourage high-level thinking to hypothesize what might happen with their firm in different circumstances: increase/decrease short-term debt, pay the dividends or issue the shares and etc.