You are encouraged to sign up to the final year course, Advanced Strategic Management Simulation, which is delivered by Mr.

Simon Fraser in Semester 2 each year.

Mr. Fraser may be contacted at Department of Management Studies Faculty of Social Sciences The University of the West Indies St. Augustine !"!# ""$%$&&$ ' !$(&) !"!# "!*%+*($ simon.fraser,sta.u-i.edu

It has often been said that management teaches students .about management/ rather than .hoto manage/. According to Fortm0ller $&&1# these terms roughly correspond to the constructs declarative knowledge and procedural knowledge respectively, often used in cognitive learning theory. In most management courses2 students are e'posed to numerous management theories and prescriptions on best practice declarative knowledge#. Unfortunately2 there is limited scope for ac3uiring the procedural knowledge that comes from ma4ing and implementing decisions and living -ith the conse3uences of those decisions. Fortm0ller $&&1# states In numerous teaching and learning methods, the success of an individuals or teams activities does not depend on the other participants activities. The results of an individual or a team can, therefore,be seen and assessed in a relatively isolated way. In dynamic environments, however, an activity is not right or wrong per se:rather, its appropriateness depends on its own momentum and on the other players activities. Business games offer an opportunity to grasp situational dependence, which also includes the conse uences of ones own activities/ In the latest iteration of these games2 students ta4e control of virtual companies and

compete against other virtual companies operating in a simulated political2 economic2 technological2 social and cultural environment. Students are e'pected to develop strategies2 ma4e and implement plans2 revie- competitive outcomes and refine these plans to account for the strategic and tactical thrusts of their competitors. The conse3uences of their decisions appear rapidly in the virtual profit and loss statements2 balance sheets and share indices. According to Faria et al $&&1# management simulations have long been recogni5ed as valuable teaching tools and -ere first incorporated into a production management course at the 6eningrad Institute of 7ngineering and 7conomics in (1*$. In an earlier paper Faria (11!# states that as of (11!2 18.)9 of Association to Advance :ollegiate Schools of ;usiness AA:S;# member schools reported using at least one business game in their programmes. The AA:S; is the most prestigious accrediting body for undergraduate and graduate business programmes.

This course is designed to complement M<MT *&*( = ;usiness Strategy and >olicy by giving students an opportunity to manage a virtual company and to compete against other teams all bent on mar4et dominance. At the beginning of the simulation2 teams -ill ta4e over si' identical companies = the result of a government mandated brea4%up of a monopoly. 7ach company -ill then get a ne- management team students#. 7ach -ee4 teams -ill be responsible for developing and modifying strategies and ma4ing tactical decisions on research and development2 production2 mar4eting2 finance2 human resources and 3uality. 7ach -ee4 year in game time# students -ill be provided -ith feedbac4 on mar4et share2 profitability2 li3uidity and share price through a facsimile of the Wall Street ?ournal. This feedbac4 must be used to ad@ust strategy and tactics. At the end of ! years the students -ill attempt to sell their companies to a private e3uity firm. Their success at ma'imi5ing shareholder returns -ill depend on their strategic management acumen and their performance over the years. If one -ere to use an aviation metaphor2 ;usiness Strategy and >olicy -ould be e3uivalent to ground school coupled -ith this course simulator training.

Goals
This course -ill provide an environment in -hich students canA (. demonstrate an ability to use management theory from all management subdisciplines in the analysis of internal and e'ternal environments. $. grasp the comple' interactions that decisions in one functional area have on other areas in the organi5ation. *. ma4e and implement strategic and operational decisions relating to research and development2 mar4eting2 production2 finance and human resources and to monitor the results of their decisions.

earning !utcomes
At the end of this course students -ill be able toA (. develop and modify strategic plans based on their analysis of the competitive landscapes $. prepare comprehensive management reports that summari5e the competitive landscape2 strategies2 and outcomes -ith an analysis for the causal factors for these outcomes. *. assess the conse3uences of their o-n decisions as these decisions interact -ith those of their competitors. +. demonstrate an ability to -or4 as a team under considerable time pressure and uncertainty.

Teaching Methodology
Teams -ill be re3uired to manage a virtual company over the course of eight -ee4s. 7ach -ee4 -ill correspond to one financial year. The students -ill be e'pected to ma4e and implement strategic and operational decisions relating to research and development2 mar4eting2 production2 finance and human resources and to monitor the results of their decisions. >rior to starting the actual game teams -ill .play/ three *# one -ee4 practice rounds in order to familiari5e themselves -ith the user interface.

Summative evaluation of the course -ill be based on the follo-ing (. Bverall Financial >erformance = including revenue2 profitability2 cash flo- and balance sheet metrics. This activity -ill account for *&9 of the grade. $. >reliminary Strategic >lan = each team -ill be e'pected to submit a strategic plan in -ee4 four of the semester = prior to the start of round ( and at the end of the practice rounds. This strategic plan -ill account for *&9 of the overall score *. Ceport to the ;oard of Directors = at the end of round ! = teams -ill be e'pected to submit a report to the ;oard of Directors critically evaluating the teamDs performance in the conte't of their strategic environment. This report -ill also contain recommendations for strategy improvements going for-ard. This portion -ill account for $&9 of the overall score. +. Final >resentation to >rivate 73uity Investors = each team -ill ma4e a group presentation to a panel comprised of faculty and outside business e'ecutives. The team -ill be evaluated on their professionalism and persuasiveness. This portion -ill account for $&9 of the total score. In order to avoid free riding2 studentsD final grades -ill be based on a peer evaluation rubric to be submitted by each student at the end of the semester. Individual grades -ill be based on the product of the group grade and their average peer evaluation score.

Target Audience
This course is designed for students in the final year of the ;.Sc. Management Studies >rogramme. This course can also be used in an M.;.A programme.

Co requisites
There are no co re3uisites but students ta4ing this course -ill also ta4e M<MT *&*( = ;usiness Strategy and >olicy

Required Texts
There is no recommended te't for this course. Eo-ever2 students -ill be e'pected to purchase a game access code through the boo4 store. This code -ill allo- them to log onto the simulation -eb site and -ill give them access to a user manual.

Highly Recommended Texts

There are no recommended te'ts for this course. Eo-ever2 students -ill be e'pected to utili5e the te'ts from their previous courses in general and specifically from the re3uired te't used in M<MT *&*( = ;usiness Strategy and >olicy.

Course Schedule
Wee4 ( = Introduction and house4eeping Wee4 $ = >ractice Cound ( Wee4 * = >ractice Cound $ Wee4 + = >ractice Cound * = Strategic >lan Due Wee4 ) = Simulation Cound ( Wee4 " = Simulation Cound $ Wee4 8 = Simulation Cound * Wee4 ! = Simulation Cound + Wee4 1 = Simulation Cound ) Wee4 (& = Simulation Cound " Wee4 (( = Simulation Cound 8 Wee4 ($ = Simulation Cound ! Wee4 (* = Wrap up = ;oard of Directors Ceport and Final >resentations

References
Faria2 A.?. (11!#2 ;usiness Simulation <amesA :urrent usage levels = An update. !imulation " #aming. $12 $1)%*&!.

Faria2 A.?.2 Eutchinson2 D.2 Wellington2 W.2 <old2 S. $&&1# Developments in ;usiness <amingA A Cevie- of the >ast +& Fears. !imulation " #aming. +&2 +"+%+!8. Fortm0ller2 C. $&&1#. 6earning Through ;usiness <ames/ Ac3uiring :ompetencies Within Girtual Cealities. !imulation " #aming. +& (#2 "!%!*.