Virtual Business Simulation as a Tool Fostering Modern Teaching Methods in Higher Education Institutions

Contemporary methods for education have always been the main point in offering the best practices on teaching and learning in higher education institutions. Recently during, and after the pandemic, digitalisation of teaching as a process has accelerated to a new level. Different companies are working and developing new digital and even virtual simulations that are offering not only to students, new and modern ways of enhancing their skills in managing different situations just like in real life. These new technologies are providing students and higher education institutions with opportunities to bring ’‘close to real life ’’experiences with lower costs and fewer procedures. Learning-based virtual simulation games belong to a new developing approach in education. This paper demonstrates the use of a business simulation game in the process of flourishing skills and managerial competences. We describe the tool - Revas Business Simulation Game as a potential instrument facilitating change in competences, skills and attitudes, crucial on labour market.