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This chapter presents two established pedagogical techniques to increase student engagement, simulations and peer assessment. The use of each technique, its benefits and drawbacks, and how content knowledge and student engagement increase are detailed. While each of the approaches can be utilized independently to create active learning environments, this chapter illustrates the potential to extend these approaches further. An overview of an MBA-level elective on competitive analysis structured around a simulation and peer assessment is presented. The result is a highly interactive and engaging course where the simulation and peer assessments achieve symbiotic benefits. Learning and performance in the simulation is enhanced by the application of competitive analyst reports which are used by peer “clients.” Assessment in turn leads to greater insights to the simulation, and subsequently higher levels of performance on both the simulation and future analysis work. Insights on these instructional methods, their limitations, and potential barriers to adoption are offered with the hope of inspiring others to utilize and experiment with novel approaches for further enhance learner engagement.

In view of a disruptive environment, the authors consider theories that explain left-skewed performance outcomes and inverse risk–return relationships where some rationales imply causal dependencies with slightly differing outcomes while others refer to spurious artifacts. These literatures are briefly outlined and dynamic response capabilities introduced as an alternative perspective expressed as strategic responsiveness where commonly observed performance outcomes derive from heterogeneous response capabilities among firms that compete in dynamic environments. Financial performance outcomes are analyzed empirically based on a comprehensive corporate dataset where computational simulations of adaptive strategy making among firms generate comparable outcomes from a simple strategic responsiveness model. The findings demonstrate how diverse adaptive strategy-making processes can generate a substantial part, if not all, of the commonly observed artifacts of firm financial performance. The implications of these results are discussed pointing to propitious approaches of analyzing the impact of dynamic adaptive strategies.

The purpose of this paper is to explore the use of simulations in strategy teaching. The authors’ conceptualization is built upon the benefits and limitations of simulations by establishing a link between the skills required to be a competent manager and the capacity of simulations to develop them.

Using deductive theory building, the authors pinpoint the shortcomings of simulations, and offer a framework categorizing managerial skill development using simulations to teach strategic management.

The authors propose a new perspective on the use of simulations to teach strategic management by elaborating on their effectiveness in developing soft skills related to social issues often overlooked in simulations’ learning outcomes. The framework provides propositions concerning the ability of simulations to develop both soft (societal and human) and hard skills (technical and conceptual) needed by managers.

Literature shows that computer‐based platforms significantly increase the learning process. While such tools are widely used in teaching hard skills for decision making, they are relatively absent from teaching soft skills for decision making. Future studies should empirically explore the extent to which computer‐based platforms help cultivate soft skills.

Simulations are one of the most praised learning tools by management students. MBA administrators and strategy instructors would benefit from improved simulations that take into account the social environment surrounding managers. Expanded simulations, then, might lead to better preparation of management candidates for their tasks. In addition, simulation developers may find guidance in the authors’ conceptualizations to construct more effective teaching aids.

Contrary to the mainstream literature that focuses on hard‐skill development through simulations, this study calls attention to simulations’ capacity to foster the soft‐skills required to be a competent manager.

The purpose of this study is to analyze learning assurance measures derived from a business simulation as part of capstone business strategy courses delivered via distance learning (DL) compared to traditional classroom (on-ground [OG]) delivery modes using experiential learning theory.

A sample of 595 undergraduate capstone business students from 21 course sections taught over a four-year period in a medium-sized private master’s level college is investigated. Variables included learning assurance measures from a competitive online simulation (GLO-BUS), gender, business degree major, capstone course grades and cumulative grade point averages. The analytic strategy included correlations, linear regressions, multiple regressions and multivariate analyses of variance.

Results reveal that there are significant differences in learning assurance report (LAR) scores, gender differences and differences between academic majors based on delivery mode (OG versus DL). Simulation performance was higher for DL students, although the relationship between simulation performance and final course grades was not significantly different for OG and DL cohorts.

To the best of the authors’ knowledge, implications for courses, programs, curricula and learning assessment are considered. The strengths (actual performance measures) and potential limitations (e.g. possible deficiency of measures) of LAR scores are discussed.

This research compares OG and DL modes for strategic management course outcomes using direct assessments, including simulation learning assurance measures, student characteristics, capstone course grades and student grade point averages.

This paper proposes an integrated knowledge visualization and digital twin system for supporting strategic management decisions. The concepts and applications of strategic architecture have been illustrated with a concrete real-world case study and decision rules of using the strategic digital twin management decision system (SDMDS) as a more visualized, adaptive and effective model for decision-making.

This paper integrates the concepts of mental and computer models and examines a real case's business operations by applying system dynamics modelling and digital technologies. The enterprise digital twin system with displaying real-world data and simulations for future scenarios demonstrates an improved process of strategic decision-making in the digital age.

The findings reveal that data analytics and the visualized enterprise digital twin system offer better practices for strategic management decisions in the dynamic and constantly changing business world by providing a constant and frequent adjustment on every decision that affects how the business performs over both operational and strategic timescales.

In the digital age and dynamic business environment, the proposed strategic architecture and managerial digital twin system converts the existing conceptual models into an advanced operational model. It can facilitate the development of knowledge visualization and become a more adaptive and effective model for supporting real-time management decision-making by dealing with the complicated dependence of constant flow of data input, output and the feedback loop across business units and boundaries.

The learning outcomes are as follows: introduce the concept of the decision-making process, decision-making unit and hierarchy of effects and marketing strategy; identify the critical aspect of segmentation, targeting and positioning; and highlight the critical element of pricing and communication media.

In early January 2017, Mr Ashish and Mr Rahul, co-founders of Biziga, a company engaged in training through simulation for management education, was at crossroads. Keeping in view the challenges of the emerging Indian market, Biziga envisioned creating participant-centric business learning simulations. The initial responses and feedback received from several top B-schools were promising. However, the euphoria did not last long. Biziga retained only a few of its initial clients from the Tier-1 B-schools who had adopted the product. But the response received from other categories of B-schools was not very encouraging. Acquiring new clients from these institutes was the major challenge. The founders of Biziga had differences in their thought about the strategic path they should pursue to achieve future growth. There were several options to achieve the goal of a target revenue of INR 1bn in the next five years and be known as a virtual gamification company with a complete bundle of business simulation products. They had to finalize for the financial year 2017-18 the most feasible and promising option/s that would have a long-term impact on the company’s future growth and success in the upcoming meeting scheduled in the last week of February 2017.

Postgraduate students and executive students.

Teaching notes are available for educators only.

CSS 8: Marketing.

The purpose of this paper is to contend that collegiate programs should carefully plan their capstone courses in light of the educational mission, pedagogical content knowledge, instructional techniques and delivery formats.

This is a concept paper with elements of theory building from the case of business strategy courses. After an overview of relevant research along with past and current practices, capstone course content projects and assignments are discussed in relation to delivery formats such as on-campus, hybrid partial online and full distance education.

Faculty and academic departments choosing project assignments should seek to create an integrative learning experience for students using carefully balanced delivery methods and content. Each of the instructional methods and delivery systems have certain advantages, and the use of these techniques is not mutually exclusive, in that some faculty members may choose to teach course sections using multiple learning systems.

As colleges and universities increase the range of instructional techniques and delivery formats, it is especially important to harmonize these methods with learning objectives for capstone learning experiences. Concepts for balanced integration and synthesis of topics are proposed for different instructional methods and delivery formats that can be applied in other disciplines. Using pedagogical content knowledge as a basis for improving teaching and learning is necessary to achieve balanced integration.

The overall purpose of this research is to increase understanding of the factors that promote the effective use of simulations in management education.

This study uses data from 49 teams of respondents performing a management simulation exercise to achieve the research purpose. Respondents took part in the simulation in teams and were required to manage a business in the global athletic industry. Respondents completed a 21‐item instrument designed to assess individual learning. Learning was factor‐analyzed and three factors derived that correspond to problem‐solving skills, teamwork and seeing oneself as a manager. Measures were developed to assess team dynamic factors (emotional and task conflict), the user‐friendliness and realism of the simulation.

The study showed that the nature of the simulation and team dynamics affected learning and performance. First, the extent to which users perceived the simulation as reflective of real life situations was positively associated with learning. Second, the ease of use of the simulation positively affected learning. Third, emotional conflict in the team was negatively associated with learning. Fourth, task conflict, measured by the degree of exchange of ideas, was positively associated with learning. Finally, the ease of use and task conflict in a team positively affected team performance, while emotional conflict had a negative relationship to team performance.

The research had some limitations. Reliance was placed on cross‐sectional data and a snapshot measure taken of performance and learning. In addition, respondents had fairly limited work experience and that may affect their perception of the simulation. This research can be extended by testing the model with managers with substantial years of experience. Including the role of game administrators may also yield greater insight.

The study demonstrated that carefully choosing simulations could affect their effectiveness. The user‐friendliness and realism of the simulation are two important criteria. In addition, the findings indicate that those administering simulations with teams should pay attention to team dynamics. The findings also suggest that factors that affect individual learning may not necessarily affect performance on the simulation. This implies that game administrators need to define their objectives clearly.

This study has increased understanding of the factors that determine the effectiveness of management simulations. The present research bridged some of the gaps in one's understanding by proposing and empirically testing factors that may lead to the identification of suitable management simulations. It also increased understanding of the situational dynamics that enhance the effective use of simulations. This study, as far is known, is the first to separate learning and performance as outcomes.

The paper aims to explore staff's experience with role‐plays using the example of training bank employees in Six Sigma as a major methodology for business process improvement.

The research is based on a case study. A role‐play, KreditSim, is used to simulate a loan approval process that has to be improved by the participants. KreditSim has been conducted many times with various groups in both academic and professional environments. The authors used five role‐play sessions to conduct a survey among the participants and questioned seven facilitators experienced in KreditSim to generate empirical evidence for the effectiveness of such role‐plays.

Role‐play based simulations complement training programs in terms of active participation and first‐hand experience. Not only methodological learning is achieved but social and communicative as well as affective learning are supported, too. The employed role‐play highlights the relevance and applicability of the Six Sigma methodology to staff's day‐to‐day responsibilities. Besides boosting awareness for process thinking, the role‐play also helps to engage staff members in process improvement efforts.

A limitation to the results might be the small number of facilitators that supervised the role‐play sessions so far. Thus, results may not be representative in a statistical sense. Moreover, the design of KreditSim could be modified in different ways for future seminars. Using software to automate certain activities is one possible modification. Ongoing research investigates in how far such modifications influence the effectiveness and the participant's perception of the role‐play.

The present study reveals that role‐plays can be effectively used for staff training. The results show that staff are strongly receptive to role‐plays in the context of business process improvement. Furthermore, several objectives such as methodological or social learning can be pursued and combined by this type of training instrument.

This article contributes to existing research in analyzing the effectiveness of role‐plays in a workplace setting. The paper is based on a number of professional role‐play sessions within the financial services sector. The survey comprises multiple dimensions of learning and supports that staff appreciate the usage of role‐play based simulation in a workplace environment.

This empirical research examined the factors and conditions that contribute to the success of international strategic learning alliances. The study aimed to provide organisations with evidence-based insights and recommendations that can help them to create more effective and sustainable partnerships and to leverage collaborative learning to drive innovation and growth. The examination is performed using game theory as a mathematical framework to analyse the interaction of the decision-makers, where one alliance's decision is contingent on the decision made by others in the partnership. There are 20 possible games out of 120 outcomes that can be grouped into four different types; each type has been divided into several categories.

The research methodology included secondary and primary data collection using empirical data, the Delphi technique for obtaining qualitative data, a research questionnaire for collecting quantitative data and computer simulation (1,000 cases, network resources and cooperative game theory). The key variables collected and measured when analysing a strategic alliance were identified, grouped and mapped into the developed model.

Most respondents ranked reputation and mutual benefits in Type 1 games relatively high, averaging 4.1 and 3.85 of a possible 5. That is significantly higher than net transfer benefits, ranked at 0.61. The a priori model demonstrate that Type 1 games are the most used in cooperative games and in-game distribution, 40% of all four types of games. This is also confirmed by the random landscape model, approximately 50%. The results of the empirical data in a combination of payoff characteristics for Type 1 games show that joint and reputation benefits are critical for the success of cooperation.

Research on cross-border learning alliances has several implications. Managerial implications can help managers to understand the challenges and benefits of engaging in these activities. They can use this knowledge to develop strategies to improve the effectiveness of their cross-border learning alliances. Practical implications, the development of game theory and cross-border models can be applied in effective decision-making in a variety of complex contexts. Learning alliances have important policy implications, particularly in trade, investment and innovation. Policymakers must consider the potential benefits and risks of these collaborations and develop policies that encourage and support them while mitigating potential negative impacts.

International learning alliances have become a popular strategy for firms seeking to gain access to new knowledge, capabilities and markets in foreign countries. The originality of this research lies in its ability to contribute to the understanding of the dynamics and outcomes of these complex relationships in a novel and meaningful way.