Business simulations are widely accepted as an excellent way to give university students, particularly within courses such as business and management, some experience in running a company in a risk-free environment, and to give them the opportunity to put their knowledge from lecture courses into practice. But why do so many universities use them? Thanks to a recent study by the University of Huddersfield, we can see proof of the development of students, both in terms of their business skills and on a personal level.

The study took the form of a questionnaire based on the National Council for Graduate Entrepreneurship entrepreneurial outcomes, which the participants filled in, both before and after a simulation programme (in this case SimVenture, which has similar learning objectives and structure to the Executive Business Simulation by April Training) was run. The results, though preliminary and only of a small sample, are very promising:

Source: Dr. D Williams, 2010;

Impact of Business Simulation Games in Enterprise Education

This shows that students perceived themselves to have improved in every entrepreneurial area, from being more able to tolerate failure to improved financial analysis. Although there may be some bias, particularly immediately after the simulation, the results seem to show that simulations such as Executive really do benefit students in a tangible and useful way.

Executive focuses on developing these key skills in participants, as well as being an enjoyable way to learn and test out business strategy ideas in a risk-free environment. It is also an online simulation, meaning that it is easily accessed and fast-responding, a real bonus and a unique feature among training simulations. This makes Executive perfect for use as both part of a university or college-level course, and in corporate environments, to give employees and students alike the necessary personal and entrepreneurial skills to succeed in real-life busienss.

Lord Alan Sugar’s comments on Engineers in business has received a lot of media flak, mostly deserved. However there is an inkling of truth in his statement. He may not have met an engineer who could turn his hands to business simply because the majority of engineers simply choose not to do the day to day running of  business.  The few who do include some spectacularly successful entrepreneurs, like Henry Ford, James Dyson, Steve Jobs, Bill Gates, Michael Bell etc, etc.

Engineers make very good entrepreneurs and business leaders in technology businesses, where their knowledge and vision allow them to see far beyond the limited technological horizons of most other professions. Indeed the subsequent replacement of the technological entrepreneur by a “business administrator” has led to some spectacular business declines, reversed only when the original entrepreneur returned – Apple and Dell Computer are classic examples.

So what else is stopping the budding engineer/technologist from going on to be successful entrepreneurs?

Fundamentally it is far easier to learn appropriate business skills than to learn engineering and technology skills; after all the best MBA can be picked up in a year or less. Business training courses are available throughout the world and many qualified engineers step up to the challenge each year. However it is an expensive proposition and not high on the priority of many an engineer who in general want to get on and “do things”: practise engineering, rather than waste too much time in the seemingly boring world of business.

Many good engineering Universities recognise this dilemma and have added business courses to the engineering curriculum so as to introduce engineers to world of business, and in so doing demonstrate the value of business “nous”.

The even more switched on Universities use modern computer simulation technology to allow engineering students to run virtual businesses and prove to themselves that they have the requisite skills. An example is the Executive Business Simulation, one of the most advanced computer simulations of a manufacturing business available.

So many more engineers are now being trained in the art and science of business, many with the help of simulation, and are emerging into the workplace more than able to take on the challenge of entrepreneurship and business leadership.  This should please Lord Sugar.

Finance can be seen as a dry and potentially dull topic by even the most enthusiastic of students and employees, but accounting and financial skills are essential to succeed in any area of business. It is for this reason that the Business Simulation “Executive” has an additional financial module that can be activated, allowing participants to get more of a feel for how to manage the money side of running a business. This is unique in the work of business simulations, making Executive one of the most desirable training simulation games around!  The extra functionality provided by the add-on means that it is a great way to educate students and company members of any level about both the world of business and management and the area of finance and economics specifically. 

The Finance module of Executive proves that numbers can be fun, with opportunities ranging from investment purchases and share-trading with other teams in the simulation and and even company take-overs to keep everyone on their toes and all the teams continually interacting. This gives an exciting new dimension to the business simulation and encourages maximum involvement as well as a healthy amount of competition between teams, which mirrors the real world of business.

Dividends can also be paid and additional finance raised by share issues. These relatively complex concepts are made easy to understand with handy hints available throughout the simulation, as well as the results of decisions being clearly shown, allowing students and employees to learn and develop their own entrepreneurial skills and ideas related to finance. This idea of learning-by-doing is one of the key aspects for any simulation and is a fantastic way for anyone to gain experience in the running of a business, in a risk free environment.

Business simulations need not only teach beginners; they can be used with anyone eager to experience the world of business and management, whether they be secondary school students, middle management, senior managers or even MBA’s. The Finance module is a great addition to Executive, and is a new innovative way to learn the principles behind company finance, economics and accounting.

April simulations are a great way to increase interest and generate enthusiasm for business and management across the board, thanks to their involving nature and exciting edge over lectures and other traditional methods of teaching. All three products can be used to give students and employees a new perspective on learning and entrepreneurship.

Executive is a large simulation run competitively with up to 9 teams. It is a great way to encourage team participation as well as provide greater experience in the world of business. Reports are generated at the end of every round which track on the candidates’ progress in relation to their competitors, and encourages everyone to go for it and think seriously about the decisions they make. For more information see our main website.

Retailer is also a large simulation that can be run competitively. This gives it similar advantages to Executive in that it actively engages participants and encourages a ‘can-do’ attitude throughout the simulation process. With ranges of different decisions from marketing to operations to be made every round, everyone will get involved with this interactive simulation. For more details see our site.

Entrepreneur is a smaller-scale business simulation than our other products, working best with small groups or individuals. It is non-competitive, but there are still plenty of challenges to keep everyone entertained! Ideal for giving a small group an insight into how a business functions in a hands-on and practical way. For more information, visit the page on our main website.

If you’re looking for a way to educate students and employees about the retail industry, then Retailer is the product for you!

Retailer can be tailored to many industries within retail, from fashion to electronics. This is one of the features that make it so versatile as a product, and one of the main reasons why it remains popular across the UK. Retailer can be assigned various levels of difficulty, so is ideal for use within schools and colleges, and all the way up to post-graduates and senior managers. Retailer is an easy and involving way to open participants’ eyes to the world of retail, as well as encourage team participation, innovative thinking and business skills development.  

The aim of the Retailer simulation is to set up a successful chain of stores in various locations across the UK, and make as a large a post-tax profit as possible. There are hundreds of different scenarios available, from a blank canvas to an existing chain of struggling shops. April Training can even create a scenario especially made for you to allow everyone to get the maximum possible experience from the simulation. It can be run in an intensive course that lasts just a few days, or over a period of months with reviews and other related projects also forming part of the training. Retailer is used by clients across the UK in a wide variety of different guises, thanks to the versatility of the training simulation and the dedication of our team who work hard to make sure the simulation is up-to-date and current with the latest data included.

Executive is the best-selling business simulation from our range, so we thought that it was time to explain a little bit more about it and what it can do for you.

Executive is a simulation based around the European car industry, that can have up to 9 competing teams in each session of the simulation (often known as leagues). Because multiple leagues can be run at the same time, Executive can be used for any sized group, and we regularly run large-scale projects with 200 or more participants. This is particularly useful when April organise simulation projects to fit in with a university module as part of a business or finance degree.

Companies across the world also find Executive very useful for training and education, and it can be insightful for any employees; from shop-floor workers to senior managers! Our simulation is the perfect way to enhance a course of lectures to make the participants interested in and inspired by the world of business and entrepreneurship. It can increase competency in areas such as marketing, finance, business strategy and team-working, which are all vital skills for any member of an organisation.

Executive is fully customisable with three different modules that can be added in any combination onto the basic simulation. These modules are:

1. the Finance module – more depth into the world of accounting and more decisions relating to shares, gilts and dividends
2. the Operations module – further details to do with workforce management and production
3. the Marketing module – more choices on product and company image as well as marketing strategies.

These options allow for even more flexibility when it comes to our training simulation and allow us to tailor an event especially for you. We can also arrange trainers to come to your organisation to give a demonstration and explain the ideas behind Executive, or we can even train members of your own staff to act as tutors. This has proved very successful in the past, and many universities and industrial companies take advantage of this service as a cost-effective and time-saving solution.

If you would like any more information about Executive, or would like to order any of our simulations, please email us.