Collaborative Decision-making and Outcomes in a Competitive, Simulated, Industry Environment
Faculty Sponsor(s)
Virlena Crosley and Russ Paine
Location
Vivian A. Bull Music Center: Delkin Recital Hall
Subject Area
Business
Description
To experience working as a management team to decide which business strategies and key decisions will help a company create a competitive advantage and thereby outperform other businesses in an industry, teams of three to four students operate companies using a business simulation. The simulation gives students experience with real-world decision making where they have to take into consideration real-world industry conditions (e.g., tariffs, currency exchanges) and apply business concepts and business analysis tools. Teams must analyze financial and other reports to make decisions regarding pricing, quality, where to establish production facilities, how to fund adequate production capacity, and how to control production costs. At the end of the semester, student teams present to industry professionals their strategic plan and the result of their strategies and decision-making. During the symposium, student teams will present the strategies and concepts they have used, where they are currently placed in terms of meeting investor expectations and relevant financial and strategic objectives, and what they have learned from the experience.
Recommended Citation
Nnabue, Stephen; Qiao, Haoting (Erin); and Naranjo, Giselle, "Collaborative Decision-making and Outcomes in a Competitive, Simulated, Industry Environment" (2017). Linfield University Student Symposium: A Celebration of Scholarship and Creative Achievement. Event. Submission 44.
https://digitalcommons.linfield.edu/symposium/2017/all/44
Collaborative Decision-making and Outcomes in a Competitive, Simulated, Industry Environment
Vivian A. Bull Music Center: Delkin Recital Hall
To experience working as a management team to decide which business strategies and key decisions will help a company create a competitive advantage and thereby outperform other businesses in an industry, teams of three to four students operate companies using a business simulation. The simulation gives students experience with real-world decision making where they have to take into consideration real-world industry conditions (e.g., tariffs, currency exchanges) and apply business concepts and business analysis tools. Teams must analyze financial and other reports to make decisions regarding pricing, quality, where to establish production facilities, how to fund adequate production capacity, and how to control production costs. At the end of the semester, student teams present to industry professionals their strategic plan and the result of their strategies and decision-making. During the symposium, student teams will present the strategies and concepts they have used, where they are currently placed in terms of meeting investor expectations and relevant financial and strategic objectives, and what they have learned from the experience.
