StratSimManagement is an integrated strategic management simulation where teams compete directly against each other in the fast-paced automobile industry. Integrating the functional areas of managing a business, this cross-functional simulation ties it all together: strategic management, product development, operations, marketing, finance, organization, and international opportunities.
Much of the complexity of the automobile industry has been simplified to allow participants to focus their time and energy on strategic issues. However, we’ve retained as much realism as possible.
To that end, our Strategic Management simulation has multiple key objectives:
Students are put in the role of a management team in an automobile company competing directly against other teams in the class. Strategic management is at the core of all decisions made in StratSimManagement. Each company begins the simulation with three vehicles and then must decide how best to improve their performance and potentially enter new market segments that offer opportunities for growth. Optionally, students may source from or enter into international regions.
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The Strategic Management simulation, StratSimManagement, combined with the quizzes and assignments give you the tools to assess your students’ understanding of the concepts of strategic management. The following grading rubric works best to assess your students’ knowledge and understanding, providing a thorough assessment.
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I have been using an Interpretive Simulation at both the undergraduate and the graduate level at the University of Connecticut for a number of years. I think every semester the students have walked away with knowledge and practical application of the concepts that will serve them well as they pursue their careers. The vast majority of my students have stated that the simulation made their education more real for them and they learned more about how things worked in the “real” world. In many cases, they did not want the simulation to be over. I like the simulation and all it brings to the educational experience of the students.
The most valuable overarching unique experience students get with engaging in StratSimManagement is learning to connect the dots. At the end of each semester, they often express their appreciation for the complexity, inter-connectedness, and dynamism of running a multi-billion-dollar enterprise set in the auto industry. The manner in which varying planning cycles, resource allocations, and demand generation processes intersect is the most challenging, and rewarding aspect of immersing themselves in the simulation.