According to Paul Trout, “many students who enter college are underprepared, underskilled and generally dumbed down. What is worse is that more and more of them are entering college – according to UCLA’s Higher Education Research Institute – “students are increasingly disengaged from the academic experience.” This is a concern as it is simply not enough for students to get a degree. There is also a growing competition. In the US alone, there are around 4 million students who graduated in 2017, so students will need to work harder than ever to stand out from the crowd.

The good news is, Tony Wagner, author of The Global Achievement Gap interviewed business leaders and discovered seven key abilities that modern employers look for in the people they hire. The downside of this is most schools are outdated and don’t teach these skills. Most schools still use standardized tests and follow traditional classroom settings.

The solution to bridge this gap are Business Simulations. They help link theories and concepts taught in class with real-life experiences. Within this environment, students are engaged with running their own simulated company, making all key strategic decisions for every aspect of business and competing against others within their course. They can either work individually or in teams. Professors who have used Smartsims simulations reported learning outcomes such as student engagement, increase motivation, real management skills, workforce readiness and confidence in job interviews.

Here is the list of Wagner’s Seven Skills and how Smartsims Business Simulations can improve your students’ abilities:

Critical Thinking and Problem Solving

Simulations replicate the interactive nature of workplace learning, presenting students with real problem-solving opportunities (Gibbons et al., 1994; Marsick & Watkins, 1996; Sternberg & Horvath, 1999)

Leading by Influence

Students today spend most of their time learning on their own, but employees are now expected to be involved with multiple teams from various divisions of the company. (Education.com)

The team element of the simulation allows students to develop the skills required to work effectively in the work place. It allows students to make cross-functional decisions and develop skills required to formulate strategy, set goals and come to agreement on decisions.

Agility and Adaptability

In school, there is only one right answer, but in the changing world of work, there is no perfect answer. To survive, says Wagner, you must be flexible, adaptable and a lifelong learner. (Education.com)

There is no one right or a winning strategy in the simulation. Students will need to be able to adapt to the changing nature of the market and the industry to succeed.

In addition, simulations also provide students with learning experiences which result in a higher transfer of learning to the workplace (Goodman & Brien, 2012).

Initiative and Entrepreneurialism

Wagner said, corporations have changed dramatically in the past twenty years. They are “flattened,” no longer top-down. Bosses don’t command, and employees are expected to figure things out. In school, students still rely on their professors and are not prepared to think beyond what has been assigned. (Education.com)

Through business simulations, students become more involved within their learning experience rather than being “taught at like in traditional lecture styles (Reynolds, 1998). They connect the theory taught in class with their strategy and application.

Effective Oral and Written Conversation

In traditional lectures, with mostly an hour to discuss, professors are pressed for time and students just listen quietly and have limited opportunity to converse. However, in the workplace, the ability to communicate well is an essential and important skill that students would need to learn.

Through simulations, students are encouraged to communicate with each other through weekly meetings to discuss their decisions and strategies. Most instructors also require students to submit reports detailing their experience with the simulation, have mock board meetings and presentations. This helps students to work on and improve their written and verbal skills.

Accessing and Analyzing Data

In class, students are given limited data from their textbook or lectures. However, in the world of work, there are plenty of data available to them.

Simulations allow students to read and analyze data given to them to help develop their strategy. They will be encouraged to read various reports and examine these to make more informed decisions.

Curiosity and Imagination

Employers look for employees who can ask good questions. It’s how smart, inquisitive people demonstrate their skill to think on their feet and keep up in our fast-paced world.

Business simulations encourage students to see possibilities, problems and challenges in a different light. The Single-Player and Multi-Player phases of the simulation provides them with opportunities to experiment on different decisions, question their strategies, try alternative and fresh approaches. It allows them to anticipate and overcome difficulties and keep an open mind in adapting and modifying their strategies if these don’t work out. These are hallmarks of an inquisitive and an imaginative student.

Smartsims Business Simulation Games bring business terminologies and concepts to life. By giving students their own virtual company, they become engaged with course content and bridge theory with practice in a risk-free environment. Through Smartsims simulations, your classes will be more engaging, and students will develop and learn these seven skills that will prepare them in the workforce and stand out from the crowd.

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March 8, 2018