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.

References

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

Secondary Schools

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

MBA courses

Omegaglen Vezetőképző Kft.
Budapest University of Technology and Economics
Corvinus University of Budapest