Simulations in Business Education

Abstract

This chapter examines the experimental use of Cesim™ Global Challenge, a computer-based business simulation, in an undergraduate international business program in Bogota, Colombia. The authors analyzed the data from the simulation through the application of a nonparametric statistical analysis, in addition to the application of an ex-post survey instrument, in order to assess the relevance of using simulations in the acquisition of managerial skills among undergraduate students. Key findings include the observation of positive effects of computer simulations in learning environments, as they occur in the literature. The authors accepted the hypothesis that stated that more time spent in the simulation leads to better results in the default winning criteria. Finally, the survey instrument confirmed that the use of the simulation helped the students develop managerial soft skills.