Business Simulations for Education
EcoSim Edu Simulation – the serious game!
Simulation games are not called games because they are not serious - on the contrary, they are very serious. They can be called games because of the enjoyable and special experience they provide players with.
Our goal is to make Teacher’s job easier with our Edu Simulations and make both teaching and learning more enjoyable.
What are the benefits of the simulations for students and teachers?
- With the simulations we give a practical experience, and by capitalizing on the “learning-by-doing” concept we help deepen theoretical knowledge as well as connect knowledge to experiences.
- Edu uses a complex economic model to simulate a competitive market environment in which participants make decisions as fictitious economic leaders.
- Our business simulations are excellent for teaching finance, marketing, analysis, strategic management, leadership approach, business insight, problem solving, decision making and teamwork.
- The simulation complements the traditional educational structure well. It enables asynchronous learning by allowing participants to learn with the simulation as a homework assignment on their own schedule. And “playing” with a computer game can in itself be a motivator for them.
- To provide an easy-to-use solution, we have developed easy-to-access software that runs on a web browser.
General features of our simulations
The simulations are practice-oriented software with an educational purpose modelling corporate management. We prompt students to think complexly during strategic planning, market and competitor analysis, management decisions and while reacting to their subsequent results.
- Simulations display an entire company and the company’s market, putting control in the hands of players who can lead their companies through periodic (annual or quarterly) strategic decisions.
- In a competitive market environment, companies influence each other since they compete for the customers in the same market. The competitive situation provides extra motivation for the participants.
- Instant results, automatic evaluation. The EcoSim Edu simulation system makes the results available almost immediately after the decision deadline, helping Teachers with the evaluation process, participants’ with self-analysis, and it also makes the delivery of the simulation game smoother.
- Calculations to support decision making. Unlike other simulations, we provide active support for decision making. Based on the decisions (planned numbers) entered into the simulation all financial and commercial statements are calculated in advance, this way participants can see the effectiveness of their strategies.
- Complex decision making. Thanks to the large number of adjustable variables and the calculation supporting decision making, a variety of strategies can be tested before finalizing our settings. This makes learning and understanding economic contexts more deliberate and conscious. Furthermore, we also develop longer-term planning with decision options that have effects beyond the given decision period.
- Strategic development and green projects. In addition to periodic decisions (pricing, headcount, production, etc.), players also make decisions about strategic development projects. In addition to projects supporting organizational development and sales, green investments (energy efficiency, responsible operation, etc.) are also included in the project options.
- Many industries are available. Our business simulations are available for many industries, so you can choose the one that best suits your subject. Our manufacturing plant or software company simulations are attractive for participants studying engineering and IT.
- Performance indicators and analysis graphs. In addition to the general graphs (demand development, etc.), our simulations include a set of diagrams that can support analysis and help compare the performance of the participants. In addition, complex performance indicators provide a basis for various evaluation criteria (quality, satisfaction, ROR, plan-fact production, etc.).
- Demonstrating responsible operation. While training the entrepreneurs and leaders of the future, we also strive to demonstrate the responsible management and the sustainable operation of a company. Trade union rules, customer satisfaction, employee satisfaction, and the responsible management of financing risks are also part of our simulations.
Conducting lessons with the simulation
A registered user with Teacher license can start a simulation course in the EcoSim Edu system.
Conducting a simulation course from the participants' perspective:
- Organising the course. Before starting the course, it is important to specify the assessment criteria, the additional tasks and the scoring structure. (Example: simulation performance gives 60% and business strategy presentation gives 40% of the score during the evaluation.) After that on the user interface of Edu, it is the Teacher’s responsibility to select the simulation, set the timing, and send an invitation email to the participants.
- An introductory lesson and test round can be held during the lesson. Participants can practice using the simulation interface during 1-2 decision rounds where they can start developing their strategy. A joint analysis of the statements in the program can be very useful.
- Live rounds with 4-6 (possibly 9) decision periods.
- Evaluation, feedback during the rounds. As results are numerically comparable, participants (within a given virtual market) can be clearly ranked. You can learn a lot from analysing the results of the periods, therefore, it is definitely worth taking the time to do so. Graphs in Edu are excellent tools to help you with this. It is important to discusses issues that arise during the game because that’s how you can learn the most.
- Closing. Following the last decision round of the simulation, we rank the performance of the participants based on the pre-communicated evaluation system. We recommend that you evaluate the relative performance (how far behind is the team to the team who is ranked first in the market) rather than the order of the teams, as this gives a more realistic picture in the face of intense competition and excellent performance.
Universities and colleges
- Corvinus University of Budapest
- Budapest Business School – Faculty of International Management and Business
- Budapest Business School – Faculty of Business Administration (Zalaegerszeg)
- Budapest University of Technology and Economics
- Kaposvár University
- University of Debrecen
- Széchenyi István Egyetem Kautz Gyula Gazdaságtudományi Kar
- University of Miskolc – Faculty of Economics
- Sapienta Hungarian University of Transylvania
- University of Szeged – Faculty of Economics and Business Administration
- Eötvös József College
- Szent István Egyetem GTK Marketing Intézet, Gödöllő
- University of Pannonia Georgikon Faculty
- University of Dunaújváros – Institute of Economics
- Eszterházy Károly University, Campus in Gyöngyös
- Atalanta Education Center
- John von Neumann University
- Milton Friedman University
- University of Pécs
- Technical Vocational Scool ofBezerédj István, Szekszárd
- Bethlen Gábor Transportation and Economics Vocational High School, Budapest
- Scheiber Sándor Secondary School
- Szent László Vocational School
- Atalanta Business Vocational High School, Budapest
- Bródy Imre Secondary and Vocational High School, Ajka
- Kada Elek Economics Vocational High School, Kecskemét
- Károly Róbert Vocational High School and Vocational School
- Vocational High School in Economics, Keszthely
- Kossuth Zsuzsanna Technical Vocational High School, Hódmezővásárhely
- Kőszegi Agricultural and Business Vocational High School
- Kultsár István Economics Vocational High School, Komárom
- Podmaniczky Frigyes Economics Vocational High School, Budapest
- Radnóti Miklós Economics Vocational High School, Pécs
- Sátoraljaújhelyi Economics Vocational High School
- Energetikai Vocational High School and College Paks
- Sipkay Barna Business Vocational High School and Vocational School, Nyíregyháza
- Számalk Rt. OKK (University of Hertfordshire)
- Economics Vocational High School, Szombathely
- Hunyadi János Primary, Secondary, Vocational High School and College
- Varga Árpád Vocational High School
- Széchenyi István Bilingual Economics Vocational High School
- Omegaglen Vezetőképző Kft.
- Budapest University of Technology and Economics
- Corvinus University of Budapest