15 Business Simulation Games Could Build Hands-on Business Experience
Starting and managing a business could be very challenging and risky, now you can gain a hands-on experience from the following business simulation games. Play and learn, there are several free games definitely worth your time!
From IBM, INNOV8 2.0 Full Academic Edition is a 1-hr playable BPM Sim game running on a 3D game engine, free for Professors and IBM Customers. Over 1000 schools worldwide have downloaded the game and more than 100 universities worldwide have built custom curriculum using our serious game to help students learn about business process management and SOA. One study found that a great lecture can improve learning by 17% but serious games can improve learning by 108%!
Both IT and business professionals understand that processes are critical to success. They just look at them from different perspectives. INNOV8, the IBM Business Process Management (BPM) simulation game, gives both IT and business players a better understanding of how effective BPM impacts an entire business ecosystem. INNOV8 also demonstrates how a more instrumented, interconnected and intelligent world supports process improvements and working smarter to help build a smarter planet.
Professors registered with IBM’s Academic Initiative can download the game at this time. It’s free!
From MIT Sloan Teaching Innovation Resources, this game allows students to experience the challenges of strategic competition in multi-sided markets with significant network externalities and important complementary assets. In this live, web-based simulation, participants play the role of senior management of a video game hardware platform producer such as Sega, Nintendo, or Microsoft. Built around a companion case study describing the launch of Sony’s PS3, participants learn about the dynamics of competition in multi-sided markets. In such markets success depends not only on a product’s price and features, but on how many people own it (a direct network externality) and on the number of games and applications available – that is, the size of the installed base of complementary products (an indirect network externality). Platform markets are increasingly common in settings besides video games, including computers, the Internet and e-commerce, mobile telecommunications, and many others, so the skills gained through Platform Wars are applicable in many markets.
Other business simulation games from MIT Sloan are:
In this live, web-based simulation, participants play the role of the founder of a new startup company in the exciting and competitive clean tech sector. Can you develop your technology into a successful company? Each quarter you must set prices, decide how many engineers and sales people to hire, and set compensation, including salary, stock, options and profit sharing. Will you pitch your firm to venture capitalists or bootstrap and remain 100% employee owned? Will you win customers and become cash flow positive before you run out of funds? Will you succeed and take your firm public?
In this live, web-based simulation, participants play the role of senior management at SunPower, a leading firm in the solar photovoltaic industry. The game simulates the solar PV industry as described in the SunPower: Focused on the Future of Solar Power case study. Users compete against other firms, simulated by the computer, and set the industry conditions so as to learn about strategy under different conditions relating to learning, knowledge spillovers, and competitor behavior.
In this live, web-based simulation, participants playing the role of salt producers seek to maximize their profits as they compete against one another in deciding how to price salt. This game simulates the salt industry as it is described in the Ventures in Salt: Compass Minerals International case study.
In this multiplayer web-based simulation, participants play the role of fishers and seek to maximize their net worth as they compete against other players, deal with variations in fish stocks and their catch. Participants buy, sell and build ships, decide where to fish, and negotiate with one another. Policy options available to instructors include auctions of new boats, permits and quotas.
Designed at the Center for Advanced Learning Technologies at INSEAD, the EIS Simulation is a multimedia learning tool that requires participants (organised in ‘change agent’ teams of 3-6 members) to implement a major change in a simulated organisation, and experience different forms of resistance. Participants can choose among many different initiatives and change management tactics to meet their goal. Each time participants implement a tactic, they immediately receive feedback about the impact of their decisions. Participants in the EIS Simulation gain a number of insights and skills in the theory and practice of change management. It has been used in many top MBA programs around the world.
From mission statements, to available natural resources, to PEG ratios, the instructor can customize the degree of complexity that will be covered during the simulation. simCEO also is flexible enough to provide easy connections to disciplines outside of economics. simCEO puts students in a situation where they have to create, write, and reason for an authentic purpose – to demonstrate quality in an attempt to persuade others. Student work has more meaning than simply being graded by an instructor.
In the game participants create companies, research each others’ companies online, buy/sell shares of each others’ companies which influence the individual share prices, and react to daily news postings (real or fictional) that can affect the market.
Informatist, the free, popular online business simulation game offers you the environment to play and learn business skills that will stand you in good stead in the real world. It’s great for novices as well as experts. Informatist gives you a wide playing field and you play against Players from all over the world. It’s easy to start playing and budding entrepreneurs are sure to learn a lot of business lessons while they have fun playing. The Key Features:
- 16 different business fields or types to choose from
- 80 different products that you can manufacture and sell
- A choice between Private or Public companies
- 35 uniquely different real estate areas to choose from, including real-time real estate auctions
- Dynamic stock market to trade, buy and sell
- Business mergers and opportunities to form partnerships
- Extensive job pool to choose employees from
GoVenture World is a Massively Multiplayer Online Game(MMOG) that enables thousands or millions of players around the world to play the game simultaneously, competing and collaborating with each other. More than a game, it’s an augmented reality experience woven into your life.
The objective of the game is to build a successful business, as defined by revenue, profitability, market share, brand value, stock price, and more. To build a successful business, you must compete with businesses for resources and market share, while collaborating with other businesses to manufacture, acquire, and sell products or services.
You can choose to be an entrepreneur, investor, banker, lawyer, or marketer. Play free. No time limit. No credit card needed. Some optional features available for a small fee. Even take optional minicourses to enhance your knowledge and resume.
GoVentureOasis.com provides free resources for business and money education, and support and networking for users of GoVenture educational games and simulations.
Led by founders from Caltech, MobLab wants to transform the way instructors teach and students learn in and out of the classroom by combining classic content with modern methods. MobLab wants to provide an ever-expanding library of games and questions distilled from decades of experimental research in fields including Economics, Psychology, and Political Science.
Cesim offers a range of comprehensive business simulation games for higher educational institutions and corporations to provide both educators and trainers with a state of the art online team environment, where participants can practice their business and decision-making skills. Those simulation games – international business and strategy simulation, small service business management, marketing management – empower participants to run their own virtual businesses. Just like in real life, the teams compete against each other in order to gain market share. The right decisions lead to success while the wrong ones to invaluable problem solving experiences.
Gazillionaire is a business simulation and strategy game of supply and demand. It’s used in schools and colleges around the world to teach business, math and economics. It supports up to 6 human players and 6 computer players. The player must make decisions about profit margins, overhead, account balances, growth, investing, etc.
It is a trade and ship simulation. The popular classic game Ports Of Call comes to new life. After so many years POC (more than 20 years sice the first Amiga Version in 1986) is still very popular and new versions of this games have been developed, with new technical features as 3d ship simulation and new features with more ships and harbours, multi freights and many more for the trading/economic part. It’s available on iOS App store and Android market place too.
Fistful of Dollars helps you learn to choose the right customers, suppliers, and financial strategies to build a fast-growing firm that never runs out of cash. As you scramble to produce and sell your wares, you’ll face three key questions:
1. Should I choose customers who pay the highest prices, place the biggest orders, or offer
to pay immediately in cash?
2. Should I select suppliers who offer the lowest prices or the best payment terms?
3. How can you balance the “horse race between Greed and Fear,” growing revenues as quickly as possible without running out of cash and destroying the business?
In Marty’s Cash Machine, you’ll face the imminent danger of your product becoming obsolete, and you’ll need to store up enough cash to upgrade your factory before it’s too late. In Big n’ Risky, you’ll battle a near perfect storm: difficult customers, pushy suppliers, and the need to install a major upgrade at the factory.
For business simulation games for children, you could refer to this post : Business Simulation Games for Teaching Kids About Economics.