Advances in Business Related Scientific research

Conference (ABSRC), April 20-21, 2017, Venice, Italy

Management Simulation
Games for
Entrepreneurship Education

Bruno Jurec
Mirjana Pejic Bach
Jovana Zoroja

Faculty of Economics and Business, Zagreb, Croatia

 Management Simulation Games for
Entrepreneurship Education

1. Introduction
2. Simulation Games
3. Simulation Games for Entrepreneurship
Education
4. Overview of Simulation Games for
Entrepreneurship
5. Discussion
6. Limitations and Future Research
7. Conclusion
 Introduction (1/3)

progress of information and

communication technologies new
forms of knowledge acquiring and
transferring
Knowledge = accessible anytime and
anywhere
 Introduction (2/3)
Simulation games improve
learning virtual reality allows
participants to try different
alternatives / experience the
consequences of their decisions
Lifelong learning software no
time/space barriers
 Introduction (3/3)

Entrepreneurship education
strongly improved using simulation
games
Simulation games users: motivated
to think, critical, able to understand
their decisions
 Goals of the Paper

to define to present
simulation simulation games
games and in the field of
their usage entrepreneurship
and compare
selected
simulation games
 Simulation Games (1/2)

computer programs that simulate different

processes and final results (depend upon
decisions that participants make)
educational tool complements and
enchances traditional learning approaches
 Simulation Games (2/2)
link between theoretical knowledge
and practical application
1st managerial simulation game: Top
Management Decision Game
 Simulation games for
entrepreneurship (1/2)

to teach players to make right

decisions in decision-making process
to develop skills needed to
effectively manage the company
 Simulation Games for
Entrepreneurship (2/2)
simulation games usage training
entrepreneurs by allowing participants to
learn how to run companies

simulation games = help improving

knowledge and provide new experiences in
real business life
Simulation games benefits for
entrepreneurship
teamwork
motivation
risk-free environment
experiential learning
crtical thinking
negotiation skills
time management

 Benefits of the simulation
games
feedback of the
decisions = just
after the game is
finished

can be played
several times
players can review
their ideas/adapt
ideas to new
experiences
 Overview of Simulation Games
for Entrepreneurship

1. Go Venture Entrepreneur Simulation

2. Entrepreneurship Simulation: The Startup Game
3. Working Capital Simulation: Managing Growth
V2
4. CleanStart: Simulating a Clean Energy Startup
5. Stock-o-Mania
6. Venture Strategy
1. Go Venture Entrepreneur Simulation

starting and managing

small business from the
beggining:
establishment, functions
of the departments,
legal regulations,

player has to adjust

business activities and
activities from private
life (e.g. level of stress)
2. Entrepreneurship Simulation: The
Startup Game

goal of the game: to

teach players how
early stage decisions
have long-term
impact on success

specificity: 20-86
players who need to
determine their roles
in the company
before starting the
game
3. Working Capital Simulation: Managing
Growth V2
player: chief executive of
the company that sells
vitamins

goal: to explore and

select the investments
that will increase cash
flow (range-10 years)

focus: accounting and

finance
4. CleanStart: Simulating a Clean Energy
Startup
goal: to present the
players all important
activities for starting new
business

activities e.g. contest

for customers with
competitors, investment
in product development,

specifics: compensation of
employees and different
sources of funding
5. Stock-o-Mania
intended for children and
adolescents not very
realistic

development of
managerial skills
investing in infrastructure,
in stocks and raw
materials, development of
the company strategy

poor English language

6. Venture Strategy

areas of: finance,

accounting, production,
product development,
marketing,

players = competitors

possibility of online sales;

Internet usage for
advertising and
management of marketing
campaigns on the Internet
Discussion
Limitations and Future Research

LIMITATIONS: high price and adopting

existing learning process to new one

FUTURE RESEARCH: analysis of specific

characteristics which simulation games for
entrepreneurship education should have in
order to improve their skills and
knowledge
 Conclusion
development of information and
communication technologies key to
popularizing the widespread use of
simulation games in education and in
business

simulation games support theory and allows

students to apply knowledge through it

every player can choose the most suitable

simulation game (according to
characteristics that are needed)
THANK YOU FOR YOUR
ATTENTION!

Full Professor Mirjana Pejic Bach, PhD

mpejic@efzg.hr