Students are running their own virtual company at LSBU
I’m really pleased to be part of the module team at London South Bank University Business School. In my role as a Learning & Development manager for Venture Simulations Ltd we’re collaborating with LSBU on a new module which aims to improve students understanding of setting up and running a business.
We’re now in the 3rd week of term and over 180 students are now working in teams developing their business and employability skills using a business simulation game called SimVenture Evolution.
Today we explored our team roles and each team of five took on departmental and budget responsibilites in the areas of: CEO, Operations, Sales and Marketing, Organisation and Research and Development. Each group discussed a new company name and strapline along with a logo for their company. The students’ will work together as a management team and operate their virtual company for 7 simulated years.
The students will be accessing the game through cloud technology so they can study 24/7 anywhere there is a Wi-Fi signal which means students can work anywhere they like in addition to classroom led activities. Wi-Fi access is also useful for freeing up IT suites because students can work anywhere on or off campus.
SimVenture Evolution will be contributing to the module for 2 hours a week for 12 weeks. I am there as the learning and development manager for Venture Simulations who made SimVenture Evolution. I can’t tell you what a buzz both staff and students get out of running their virtual business. I also get to teach as well – keeping my hand in, its great. I love coaching and mentoring the students as they operate their virtual business and the learn so much by being hands-on. We’re also measuring the development of students’ employability skills from the start of the module to the end. This is important because many students are not aware of their successes and the improvement of their employability skills.
There is also a strong competitiveness emerging between the teams as there are prizes to be won for the company that makes the most net profit. The photos here show the students in class working with the simulation. May the best team win!
Lesley Strachan Consulting and Training
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