The Impact of Critical Thinking Disposition on Learning Using Business Simulations

This research seeks to determine the relationship between students’ critical thinking disposition and their learning while engaging in a business simulation at a UK higher education institution (HEI). The research informs educators making decisions about the use of simulations as to the value of considering critical thinking dispositions. Previous research has found that simulations are an effective way for students to engage actively in learning, bridging the gap between theory and practice. It has also been found that such simulations can develop students’ critical thinking skills. However, hitherto no research has been undertaken into the role that existing critical thinking disposition has on the learning of students, as measured by the degree to which students perceived that they met the module’s intended learning outcomes. This research offers insights into the role and importance of critical thinking disposition and its component dimensions and how this impacts student learning. The results indicate that the level of critical thinking disposition is positively related to the students’ learning. The implications of the research suggest educators should target business simulations at specific cohorts of students. The relative importance of the critical thinking disposition constructs and the practical educational implications of these findings are discussed.

Advanced Business Simulations-Incorporating business and process execution data

Key Performance Indicators (KPIs) and their predictions are widely used by the enterprises for informed decision making. Nevertheless , a very important factor, which is generally overlooked, is that the top level strategic KPIs are actually driven by the operational level business processes. These two domains are, however, mostly segregated and analysed in silos with different Business Intelligence solutions. In this paper, we are proposing an approach for advanced Business Simulations, which converges the two domains by utilising process execution & business data, and concepts from Business Dynamics (BD) and Business Ontologies, to promote better system understanding and detailed KPI predictions. Our approach incorporates the automated creation of Causal Loop Diagrams, thus empowering the analyst to critically examine the complex dependencies hidden in the massive amounts of available enterprise data. We have further evaluated our proposed approach in the context of a retail use-case that involved verification of the automatically generated causal models by a domain expert.

An interactive learning approach to accounting classes

This working paper explores the use of interactive learning tools, such as business simulations, to facilitate the active learning process in accounting classes. Although business simulations were firstly introduced in the United States in the 1950s, the vast majority of accounting professors still use traditional teaching methods, based in end-of-chapter exercises and written cases. Moreover, the current students’ generation brings new challenges to the classroom related with their video, game, internet and mobile culture. Thus, a survey and an experimentation were conducted to understand, on one hand, if accounting professors are willing to adjust their teaching methods with the adoption of interactive learning tools and, on the other hand, if the adoption of interactive learning tools in accounting classes yield better academic results and levels of satisfaction among students. Students using more interactive learning approaches scored significantly higher means than others that did not. Accounting professors are clearly willing to try, at least once, the use of an accounting simulator in classes.

Web-TRECS: teaching electronic commerce

Effective Electronic Commerce (e-Commerce) education for students in such disciplines as Management Information Systems, Accounting and Marketing is paramount. This is because organisations globally need people who are skilled in e-Commerce, from a technical and/or organisational perspective, so that the firms can take advantage of such technologies as the Web. The challenge for business and e-Commerce educators, therefore, is the development of teaching tools and environments which provide tertiary students and business people with practically-based opportunities for learning about the potential of e-Commerce. Business simulation approaches to e-Commerce education are a particularly effective way in which to provide students with these pedagogic opportunities. This paper provides an overview of a Web-based e-Commerce business simulation called Web-TRECS (Teaching Realistic Electronic Commerce Solutions). It then describes how the software components of Web-TRECS have been designed to form the e-Commerce teaching tool. The paper then discusses how Web-TRECS could be used to teach a range of e-Commerce concepts and skills, based on six years of research into the use of e-Commerce business simulations. The paper finally concludes by outlining our future research plans to extend Web-TRECS so that additional e-Commerce concepts and skills might be taught using this tool.

Using multimedia and interactive games to enhance students' understanding of SCM

It is challenging to teach supply chain management (SCM) practices and technologies to tertiary students. This is because the back-end and highly dynamic processes can be difficult to visualise and because many students only have experience as a consumer. This paper reports the authors' experiences using a variety of multimedia and interactive enhancements we have used with our SCM learning materials: SCM business simulations; online learning modules with interactive games; and multimedia resources such as videos and animations. The paper also provides an overview of the challenges faced using these approaches, which gives rise to a number of future research opportunities. It also argues that these approaches can support educators with any epistemological view of learning. The paper makes a significant contribution because there has been little if any research into the use of these approaches in SCM education.

Mediação do processo ensino-aprendizagem com o jogo de empresas mercado virtual: uma pesquisa de opinião

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Strategic Management Simulation as a Blended Learning Dimension: Campus Based Students’ Perspectives

Although business simulations are widely used in management education, there is no consensus about how to optimise their application. Our research explores the use of business simulations as a dimension of a blended learning pedagogic approach for undergraduate business education. Accepting that few best-practice prescriptive models for the design and implementation of simulations in this context have been presented, and that there is little empirical evidence for the claims made by proponents of such models, we address the lacuna by considering business student perspectives on the use of simulations. We then intersect available data with espoused positive outcomes made by the authors of a prescriptive model. We find the model to be essentially robust and offer evidence to support this position. In so doing we provide one of the few empirically based studies to support claims made by proponents of simulations in business education. The research should prove valuable for those with an academic interest in the use of simulations, either as a blended learning dimension or as a stand-alone business education activity. Further, the findings contribute to the academic debate surrounding the use and efficacy of simulation-based training [SBT] within business and management education.

Entrepreneurship education in Portugal: 2004/2005 national survey

Education in entrepreneurship is a relatively new addition to the curriculum of institutions of higher education in Portugal. Forty-one percent of the current courses were first offered in 2003 or 2004. This recent awakening to the importance of entrepreneurship education is both reactive to the needs of the market as well as pro-active through the interests of professors. As the developing phenomenon of entrepreneurship education grows there is an urgent need to better understand and develop this area through academic research. Pedagogy, course content, the use of technology as well as other parallel initiatives related to entrepreneurship education in Portugal are the primary focus of this national survey of academic year 2004/2005. The majority (76.5%) of professors surveyed stated that their university has plans to create an entrepreneurship/innovation center. However, it is believed that roles and activities that a “center” must have to be effective are, as of yet, not well-defined in the Portuguese context. In developing future initiatives, Portugal could benefit by looking at models from other countries that have well-developed entrepreneurship educational offerings and support structures. Findings indicate that current course pedagogy in Portugal relies heavily on business plan creation and theoretical lectures and seldom makes use of computer business simulations, role-playing or internships. In addition, greater use of the Internet as a method for disseminating information to students and entrepreneurs could help “market” entrepreneurship education better and improve the perception of those students not currently taking an entrepreneurship course.

Communication of business process models via virtual environment simulations

Games and related virtual environments have been a much-hyped area of the entertainment industry. The classic quote is that games are now approaching the size of Hollywood box office sales [1]. Books are now appearing that talk up the influence of games on business [2], and it is one of the key drivers of present hardware development. Some of this 3D technology is now embedded right down at the operating system level via the Windows Presentation Foundations – hit Windows/Tab on your Vista box to find out... In addition to this continued growth in the area of games, there are a number of factors that impact its development in the business community. Firstly, the average age of gamers is approaching the mid thirties. Therefore, a number of people who are in management positions in large enterprises are experienced in using 3D entertainment environments. Secondly, due to the pressure of demand for more computational power in both CPU and Graphical Processing Units (GPUs), your average desktop, any decent laptop, can run a game or virtual environment. In fact, the demonstrations at the end of this paper were developed at the Queensland University of Technology (QUT) on a standard Software Operating Environment, with an Intel Dual Core CPU and basic Intel graphics option. What this means is that the potential exists for the easy uptake of such technology due to 1. a broad range of workers being regularly exposed to 3D virtual environment software via games; 2. present desktop computing power now strong enough to potentially roll out a virtual environment solution across an entire enterprise. We believe such visual simulation environments can have a great impact in the area of business process modeling. Accordingly, in this article we will outline the communication capabilities of such environments, giving fantastic possibilities for business process modeling applications, where enterprises need to create, manage, and improve their business processes, and then communicate their processes to stakeholders, both process and non-process cognizant. The article then concludes with a demonstration of the work we are doing in this area at QUT.

Integrating e-simulations in teaching business information systems

Students’ early exposure to the fundamentals of business and Information and Communications Technologies (ICT), creation of a professional skill base, as well as, the gaining of practical experience in applying such knowledge and skills, are the determinants of success in their study and development as Information Systems (IS) professionals. This chapter argues that e-simulations, or computer-based and online simulations, can be effectively used to engage learners in interactive learning activities and provide them with real world practical experience in the safety of an educational setting. A research project is subsequently described. A suite of e-simulations were developed and deployed across two institutions to support teaching and learning of Information Systems. Using staff discussions and online surveys, quantitative and qualitative data were collected from the staff and students. The collected data were then analysed to evaluate and guide a sequence of curriculum and technology changes with a view to arriving at an optimum support model for students and teachers using the e-simulations. The findings of the study emphasise the usefulness of e-simulations to accommodate the learning styles of generation Y students, to stimulate their interest and creative thinking, and in meeting industry expectations of IS graduates’ ability to fulfil professional roles. Based on these insights, in its concluding remarks, the chapter outlines a conceptual framework for the inclusion of e-simulations in Information Systems curriculum development and teaching delivery.

Business competition dynamics: agent-based modeling simulations of firms in search of economic performance

A intenção deste trabalho é explorar dinâmicas de competição por meio de “simulação baseada em agentes”. Apoiando-se em um crescente número de estudos no campo da estratégia e teoria das organizações que utilizam métodos de simulação, desenvolveu-se um modelo computacional para simular situações de competição entre empresas e observar a eficiência relativa dos métodos de busca de melhoria de desempenho teorizados. O estudo também explora possíveis explicações para a persistência de desempenho superior ou inferior das empresas, associados às condições de vantagem ou desvantagem competitiva

A proposed role for models and simulations in management research

Overall, computer models and simulations have a rather disappointing record within the management sciences as a tool for predicting the future. Social and market environments can be influenced by an overwhelming number of variables, and it is therefore difficult to use computer models to make forecasts or to test hypotheses concerning the relationship between individual behaviours and macroscopic outcomes. At the same time, however, advocates of computer models argue that they can be used to overcome the human mind's inability to cope with several complex variables simultaneously or to understand concepts that are highly counterintuitive. This paper seeks to bridge the gap between these two perspectives by suggesting that management research can indeed benefit from computer models by using them to formulate fruitful hypotheses.

pessimistic predicate/transform model for long running business processes

Many business processes in enterprise applications are both long running and transactional in nature. However, no current transaction model can provide full transaction support for such long running business processes. This paper proposes a new transaction model, the pessimistic predicate/transform (PP/T) model, which can provide full transaction support for long running business processes. A framework was proposed on the enterprise JavaBeans platform to implement the PP/T model. The framework enables application developers to focus on the business logic, with the underlying platform providing the required transactional semantics. The development and maintenance effort are therefore greatly reduced. Simulations show that the model has a sound concurrency management ability for long running business processes.

Business cycle asymmentries: An investment cost approach

In this paper, investment cost asymmetry is introduced in order to test wheter this kind of asymmetry can account for asymmetries in business cycles. By using a smooth transition function, asymmetric investment cost is modeled and introduced in a canonical RBC model. Simulations of the model with Perturbations Method (PM) are very close to simulations through Parameterized Expectations Algorithm (PEA), which allows the use of the former for the sake of time reduction and computational costs. Both symmetric and asymmetric models were simulated and compared. Deterministic and stochastic impulse-response excersices revealed that it is possible to adequately reproduce asymmetric business cycles by modeling asymmetric investment costs. Simulations also showed that higher order moments are insu_cient to detect asymmetries. Instead, methods such as Generalized Impulse Response Analysis (GIRA) and Nonlinear Econometrics prove to be more e_cient diagnostic tools.