World Encyclopedia of Entrepreneurship
Show Less

World Encyclopedia of Entrepreneurship

Edited by Léo-Paul Dana

This comprehensive reference work, written by some of the most eminent academics in the field, contains entries on numerous aspects of entrepreneurship.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 46: Simulation Games

Christian Lendner and Jutta Huebscher


Christian Lendner and Jutta Huebscher ENTREPRENEURSHIP SIMULATION GAMES Entrepreneurship education requires teaching methods that try to assimilate the complexity of real business. A simulation game can be defined as a dynamic model of the real entrepreneurial process in which a balanced number of decision variables require strategic integration of several subunits such as marketing or new venture finance for organizational start-up performance (Keys and Wolfe, 1990). The game is a teaching method which provides first-hand multiple experiences of management interdependencies and competition in one common marketplace. Participants allocate virtual resources and have to follow the rules of the specific virtual market framework in their decision-making process (Klabbers, 1999). This concrete experience and its outcome are observed and reflected on by the participants in an iterative process with immediate feedback. Games are designed specifically to eliminate some of the complexity and accelerate the frame of action of the long-run planning situation in order to mirror the whole entrepreneurial process (see Keys and Wolfe, 1990). Simulation games are all quite similar in that they require input from the students who must first process the information. Then participants are confronted with a certain outcome of their decisions, both in absolute terms of profit, loss, liquidity status or market share, and in relation to other virtual competitors. The models of the games are usually designed to show the general principles of management interdependencies and strategy and to teach students not to focus too much on tactical decisions based on revelations of the short-term financial...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.