2 minute read
Immersive learning brings business to life
Taking the reigns
An immersive learning session exposed first year students to the realities of founding and managing their own business.
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Creating a business and managing it through the highs and lows of a series of real-world scenarios, was the task facing teams of first year students at a special Business Simulation event.
Using their diverse skillsets, Marketing, Business Management, and Accounting & Finance students came together to create companies, which were then floated on a simulated stock market.
An algorithm assesses how each team’s decisions may impact their companies’ performance across a six-year period, challenging the students to think outside the box. By immersing students in a simulation event, they are taught that decisions have consequences for important partners, such as shareholders.
It challenges them to think about issues they may never have considered previously, and develop skills to make the right choices under pressure.
Find out what our students who took part in the Business Simulation event had to say about their experience.
Max Woodhall, Business Management
“This style of teaching is a great way to bring people out of themselves, and encourages you to talk to others. You get to learn things you wouldn’t get in a lecture, such as the where and how elements of business come about.
“I enjoyed having the opportunity to look at finance statements and revenue, as it provides an understanding of more than just the profits and margins.
“As well as the sales, we were tasked with considering the wider aspects of business, such as reputation, perception and the morale of employees. The session brought a focus on the personal elements of business, as well as the challenge of monitoring growth and spend.”
Aleksandra Augusiewicz, Accounting & Finance
“The session was very informative and business orientated, with real-world scenarios that give an insight into what running a business involves.
“It was a great opportunity, as I would like to run my own business in the future. I’d like to open a restaurant that is based around vegetarian/vegan lifestyles. “I studied Accounting and Economics in school, which meant I’ve had some experience with balance sheets and statements, but I’ve never worked with them across such a long period.
“The Business Management side of the activity was new to me and quite a learning curve.”
Kieran Bradley, Accounting & Finance and Business Management
“Seeing just how much has to go into running a business, has been a real eye-opener. For example, having to understand wages based on salary and seeing real-life scenarios.
“There’s a lot you have to research, including looking at where the growth is to see if you should take risks.
“I’ve never done an exercise like this before, but have really enjoyed the hands-on experience and getting to put what we’ve been taught in lectures and seminars into practice.”
