Award in Business Simulation for Management Practice

This Course Module has been designed to give students direct hands-on experience in the design, development, and implementation of business strategies in a competitive environment. The course deals with the concepts of learning through business simulations and prepares students to get the most out of the exercise.

The course module is focused on the simulation of real business environments and the application of tactical and strategic concepts, principles, and methods to the varied sets of challenges faced by a growing organisation in a competitive environment. The programme relies on the use of an internationally acclaimed multi-user business simulation with typically fifteen to twenty thousand users. This online multi-user simulation selected for the core business simulation is SIM Companies which provides a complex set of variables which provide a realistic re-creation of real-world markets and their dynamics. This allows for the integration of the key decision areas of management as a holistic approach to the management of the simulated organisation each student will be involved with. Alternative online games may be used.

The module is based on a team approach and teams will be assigned different online simulated organisations for them to start-up operations or to take over the management of the simulated business and achieve a set of objectives.

The module can be split into the following sessions:

• Session 1 – Introduction to Business Simulations
• Session 2 – Experiential learning through Business Simulations
• Session 3 – Business Simulation as an active learning activity
• Session 4 – Business Model Generation – Part 1
• Session 5 – Business Model Generation – Part 2
• Session 6 – The Business Model Canvas – Part 1
• Session 7 – The Business Model Canvas – Part 2
• Session 8 – SIM Companies – the Business Simulation
• Session 9 – Guidelines to the Business Simulation SIM Companies
• Session 10 – Tips from the Pros – I
• Session 11 – Tips from the Pros – II
• Session 12 – Tips from the Pros – III

Hours of Total Learning for this module:

• Contact Hours: 42
• Self-Study Hours: 134
• Assessment Hours: 12
• Supervised Placement and Practice Hours: 12
• Total Learning Hours: 200

Learning Outcomes:

At the end of the module/unit the learner will have acquired the following skills:

1. appreciate the relevance and role of business simulation in understanding the complexities and sophistication of the real-world business operations in a competitive environment;
2. appreciate the manner in which the simulated environment allows them to demonstrate the application of various management concepts and theories in the identification and solution of strategic and operational challenges;
3. integrate various specialist areas of knowledge in a dynamic realistic environment enabling them to focus on the collection of data, its analysis and use as the basis for decision making in the implementation of competitive strategies;
4. develop plans of action that can serve as the basis for review and discussion by a management team;
5. negotiate and reach consensus within a team structure on decisions which need to be made in the context of scarce resources and an external competitive environment;

Each module will be assessed based on the following components:

1. Quality of Contributions in Forums: 20%
   • Evaluation of participation and the quality of insights shared in online discussion forums.
2. Quality of Contributions in Tutorials: 20%
   • Assessment of engagement and contributions during tutorial sessions.
3. Research-Based Assignments: 60%
   • Completion and quality of research-based assignments that demonstrate understanding and application of the course material.

Passing Criteria:

• Students must achieve an aggregate of 50% or higher across the three components to pass each module.

Scholarship Schemes for Maltese residents:

• MySkills Scheme: Malta residents are eligible for up to 80% reimbursement, capped at €5,000, subject to eligibility criteria. International students would be able to apply for the MySkills Scheme once they obtain their Student Temporary Residence Card (TRC). (For individual modules only)
• Get Qualified Scheme ( Scheme available for Maltese residents ) – 70% refund of course fee as a tax rebate