Business simulations are serious games that facilitate learning in a virtual and fun environment.
All simulations offer a microcosm of real life. Business simulations create a virtual economic system with competitors, suppliers, customers, governments, banks, etc. Teams of players manage companies that compete within the same industry. Sound decision making is the key to success.
Business simulations exist since the advent of the computer. With the Internet, simulations have become more interactive and much easier to use. They are now considered a worthwhile complement to the curriculum in business education.
Simulations developed by Praxem have distinctive characteristics that enrich the learning experience:
- Each simulation is closely associated with the content of an academic course
- They stress the importance of the environment in business decision making
- They create a real market where decisions of a company influence the success of competitors
- They present an integrated view of business operations and the role of managers
- They facilitate collaborative work and interaction among participants
- They are fully automated for students and instructors alike