Simulations for Strategy Teaching
Disclaimer:
The information provided here is not exhaustive, ranked, or intended to be a recommendation. It has been gathered and summarized from the simulation companies’ websites and other publicly available sources. While every effort has been made to ensure accuracy, there may be typographical or transcription errors. For the most reliable and up-to-date information, please visit the official websites of the simulation companies or contact their representatives directly.
1. Harvard Business School (HBS) Online Simulations
Website：https://hbsp.harvard.edu/simulations/
Introduction：
Harvard Business Publishing offers a diverse collection of business simulations designed to immerse students in realistic scenarios where they can apply theoretical concepts to make high-pressure decisions. These simulations create a learning environment that encourages experimentation, allowing students to test strategies, make mistakes, and learn from consequences in real-time.
The simulations promote skill development in critical areas such as resilience, teamwork, leadership, and decision-making, as students manage competing priorities and adapt to dynamic situations. The collection includes over 100 simulations across a variety of disciplines including Accounting, Finance, Marketing, Operations Management, and Strategy, with options ranging from short, single-player games to complex, multi-week competitive experiences.
One of the featured simulations is the Strategy Simulation: The Five Forces, which is based on Michael Porter’s Five Forces framework. This is just one example of a wide range of scenarios designed to simulate real-world business challenges and facilitate rich class discussions. Popular simulations include Leadership and Team Simulation: Everest V3, Data Analytics Simulation: Strategic Decision Making, and Project Management Simulation: Scope, Resources, and Constraints. Other strategy examples:
2. Capstone Business Simulation (CAPSIM)
Website：https://www.capsim.com/product-catalog/business-simulations
Introduction：
Capsim offers a comprehensive suite of business simulations designed to enhance both corporate and collegiate learning experiences. From foundational business concepts in CapsimCore to advanced multinational strategies in CapsimGlobal, these simulations serve as powerful tools for fostering business acumen in various domains, such as operations, global markets, and advanced management strategies. Each simulation, like CapsimOps and Capstone, is tailored to address specific skill levels and learning needs, progressively expanding in complexity to challenge learners and simulate real-world business dynamics.
Capstone Business Simulations include：
l The CapsimCore simulation serves as an engaging and flexible team-oriented simulation designed to provide a dynamic, low-stakes environment for fostering collaboration and problem-solving. While it offers participants the opportunity to make key business decisions and experience the consequences of those choices, it is primarily focused on creating a context for team building, networking, and skill development, rather than on providing an in-depth business learning experience.
l The Foundation simulation is a versatile tool that bridges the gap between CapsimCore and more advanced business acumen simulations like Capstone and CapsimGlobal. It serves as a flexible backdrop for teaching behavioral competencies, networking, and interdisciplinary learning while also offering the essentials for business acumen development
l CapsimOps is a specialized simulation derived from the Foundation framework that focuses on operations management, offering a more detailed exploration of operational complexities than both Foundation and Capstone. It matches Capstone in duration but surpasses it in the depth of operational insights, emphasizing the critical role of operations in business strategy.
l Capstone Business Simulation remains the top-selling simulation, with over 1.7 million students to its credit. Originally designed for exec ed, today it serves two audiences - corporate seminars and the wrap-up courses in degree programs.
l CapsimGlobal builds upon the Foundation/Capstone framework to transition students from domestic to multinational companies. It explores all of the fundamental learning objectives of business strategy and then adds issues that companies face when they expand into international markets.
l GlobalDNA is executive level simulation. It is aimed at executive education audiences or MBA students nearing the end of their program. Issues extend beyond the CapsimGlobal simulation, including outsourcing, tariffs, regional and product-oriented marketing, and local product design preferences.
l Case Modules: inserts itself into a currently running simulation, often in the later rounds. It stirs the pot by introducing a strategic threat or opportunity, forcing teams to reexamine their strategies. For example, the case might offer an attractive new market, but to address it, the team would have to rethink their policies in the production function.
3. Interpretive Simulations (StratSim Management)
Website：https://www.interpretive.com/
Introduction：
Interpretive Simulations specializes in developing interactive business simulations designed to enhance learning by immersing students in realistic business scenarios. These simulations cover various disciplines, including management, marketing, strategy, and entrepreneurship, providing practical experience in decision-making and problem-solving.
Available Simulations:
l Management Simulations:
n BizCafe: Students manage a virtual coffee shop, learning about operations, marketing, and financial management.
n HRManagement: Focuses on human resources, challenging students to make strategic decisions regarding staffing, compensation, and employee relations.
l Marketing Simulations:
n PharmaSim: Centers on brand management within the over-the-counter cold medicine industry, allowing students to navigate product mix, pricing, and promotional strategies.
n CountryManager: Engages students in international marketing by managing market entry and expansion into regions like Asia or Latin America.
l Strategy Simulations:
n Airline: Students manage a regional airline, experiencing the impact of strategic decisions in a competitive environment.
n StratSimManagement: Provides a dynamic environment where students make strategic decisions for a simulated company, focusing on market opportunities and competitive analysis.
l Entrepreneurship Simulations:
n Entrepreneur: Offers a comprehensive retail entrepreneurship experience, guiding students through the challenges of starting and managing a retail business.
These simulations are designed to provide students with hands-on experience, bridging the gap between theoretical knowledge and practical application in business education.
4. INSEAD’s Strategy Simulation Suite
Website: https://www.insead.edu/executive-education/instruments-and-simulations
Introduction:
INSEAD’s Strategy Simulation Suite is a set of interactive, cutting-edge digital tools designed to enhance learning and decision-making in the field of strategic management. It allows participants—often business professionals and MBA students—to experiment with real-world business scenarios, make strategic decisions, and observe the impact of those decisions in a controlled, virtual environment. The simulations are used to help develop strategic thinking, improve decision-making skills, and deepen understanding of key concepts in business strategy.
The following are the key features:
l Realistic Scenarios: The suite offers a variety of simulations based on real-world business environments and challenges. These scenarios can cover diverse industries, from consumer goods to technology to consulting, allowing participants to apply their knowledge of strategy in various contexts.
l Strategic Decision-Making: Participants are tasked with making key strategic decisions, such as resource allocation, market positioning, pricing strategies, and competitive tactics, all of which influence the outcome of the simulation.
l Dynamic Market Conditions: The simulations often feature changing market conditions, including competitor actions, consumer preferences, and macroeconomic factors, which require participants to adapt their strategies on the fly.
l Team-Based Learning: Many of the simulations are designed to be played in teams, encouraging collaboration and the application of group decision-making techniques. This mirrors the collaborative nature of strategic decision-making in real business settings.
l Data-Driven Insights: Participants receive feedback and performance metrics based on their decisions, helping them understand the consequences of their actions and refine their strategic thinking.
l Scenario-Based Learning: These simulations cover a range of strategy topics, including competitive strategy, corporate strategy, innovation, mergers and acquisitions, and global strategy. This variety allows participants to gain a broad perspective on strategic management.
l Reflective and Iterative Process: The simulations are designed not only for real-time decision-making but also for post-decision analysis. Participants can review outcomes, reflect on their choices, and adjust strategies for future iterations, providing a learning cycle that enhances strategic acumen.
INSEAD also offers its Immersive Learning Initiative - Using virtual reality in the classroom.
5. Marketplace Simulations
Website: https://www.marketplace-simulation.com/compare-our-business-simulations/
Introduction:
Marketplace Simulations include the following Categories:
l Simulations for Core Business Courses: Introduce students to business in a fun and engaging game-like exercise. Let students practice the fundamental business concepts in realistic business situations. Through learning by doing, students will internalize the fundamental business practices.
l Marketing Simulations: Challenge students to test their marketing savvy in a fun and engaging game-like exercise. They will experiment with marketing strategies, product design, promotion, and pricing. They will design Internet marketing campaigns and a global expansion strategy with the goal of building a profitable division.
l Strategic Management Simulations: Let students practice the use of the tools of strategic management in an engaging game-like exercise. Students take leadership positions on the executive team of a simulated company. They develop and manage a business strategy and implement it across all functional areas of business. They learn to use performance-based management focused on the bottom line and customer value to succeed in a highly competitive business environment.
l Entrepreneurship and New Ventures Simulations: Let students experience the highs and lows of starting a new venture in an engaging game-like exercise. Students will perform a business opportunity analysis, experiment with business strategies, design and launch new products to the market, and manage the entire product life cycle, from introduction to growth to maturity. They will prepare a business plan and make a pitch for outside capital. They will learn to think like a successful entrepreneur.
l Advanced Management and Strategy Simulations: Students will formulate mission statements and strategic goals, perform business opportunity analysis, set corporate objectives, and devise business-level and functional-level strategies. They will run a SWOT analysis and competitor analysis and evaluate the external environment. They will implement their strategies through a set of interconnected tactical decisions to gain a competitive advantage in a global business environment.
l Logistics and Supply Chain Simulations: Let students practice the key concepts of supply chain and channel management in an engaging game-like exercise. Students will devise and execute a supply chain strategy with the goal of building a successful and profitable company. They will form business relationships, negotiate with business partners, and learn to deal with uncertainty as they manage their company in a highly competitive environment.
6. GLO-BUS
Website: https://www.glo-bus.com/
Introduction:
GLO-BUS offers a set of interactive simulations focused on the management of a company within a competitive industry. The goal of the simulation is for participants to make strategic decisions and see the results of those decisions unfold in real-time, enhancing their understanding of business operations and strategic management.
The simulation pits participants’ companies against competitors, where each team’s decisions impact their company’s performance, market share, profitability, and growth.
At the end of each decision round, participants receive detailed performance reports that include financial statements, market share data, and competitive rankings.
Participants can compare their results with industry averages and adjust their strategies in subsequent rounds. Each simulation is divided into a series of rounds (often 6-8), each representing a “year” of the business. In each round, teams analyze data from the previous round, make new decisions, and then review the results at the end of the round.
The simulation typically spans several weeks, with teams iterating on their strategies and decisions based on performance feedback.
GLO-BUS Simulations offers a dynamic, interactive platform for anyone looking to deepen their understanding of strategic management. By simulating the complexities of running a business in a competitive, global environment, GLO-BUS enables participants to experiment with strategies, learn from real-time results, and develop essential skills for managing complex business situations. Whether you’re a student, business leader, or corporate trainer, GLO-BUS provides valuable insights into the world of strategic management and decision-making.
7. Wharton Interactive
Website: https://interactive.wharton.upenn.edu/academic/
Introduction:
Wharton Interactive including different types of simulation:
l The Startup Game: Students live through the chaotic and exciting early days of a startup in a single class session, and then learn to make sense of what they experienced. Each player takes on the role of either a founder, an investor, or a key early employee and works to secure the right combination of funding and talent in order to make their startup a success.
l A/B Testing Simulation： Gain mastery in the latest A/B Testing Techniques. Before launching a new product, most organizations run A/B tests so they can make data-driven choices about their go-to-market strategy.
l Customer Centricity Simulation: a highly interactive experience that teaches participants how to make data-driven decisions to maximize customer lifetime value. In a few hours, this simulation delivers a game-changing experience, serving as a catalyst for customer-centric strategies to begin. participants play the role of a CMO tasked with making real-world tactical and strategic decisions about customer acquisition, retention, and development.
l OPEQ Negotiations Simulation: The exercise highlights the role of accountability, comparisons, and communication in promoting (and inhibiting) trust and cooperation. Through the exercise, participants make a series of decisions and have the opportunity to send messages. The interface provides real-time graphs and tables that include message displays. The exercise is both ready to use and easy to tailor to focus on specific lessons.
l E-commerce Analytics: students play the role of advisor to the CEO, where they will analyze sales data and help to make critical decisions. This e-commerce company has recently completed A/B tests to see if offering free returns is attractive to customers.
l Entrepreneurship Game: students will enter a hyper-immersive world and work in teams taking on the role of a startup’s founding team and experiencing the challenges of leading a business to success.
l The Saturn Parable: teams of 4-6 students, each with their own goals and agendas, take over on a mission to Saturn’s moon, Enceladus, in 2087. The setting is fictional, but the leadership lessons are very real.
l Organizational Leadership & Innovation: a multi-session game in which students work in teams for the WISE Corporation. As they run their venture, they make critical decisions that will affect their future.
8. Cesim Business Simulations
Website: https://www.cesim.com/
Introduction:
Cesim offers risk-free, engaging team exercises that help illuminate key business concepts through interactive simulations. These simulations are hosted on a powerful, stable, and highly scalable online platform, allowing instructors to efficiently manage courses from a centralized interface.
Key Features of the Cesim Platform
l Customizable: Adjust default case studies to fit the specific needs of your course.
l Scalable: Accommodates any number of participants, with no upper limit on team sizes.
l Realistic: Simulations accurately reflect real-world business challenges and outcomes.
l Multilingual: Participants can play in their preferred language.
l Competitive: Teams compete against one another, not against AI.
l Intuitive: Smooth transition between different simulations for a seamless experience.
l Measurable: Provides detailed reports to assist in analysis and grading.
Cesim offers a wide range of simulations tailored to various fields of study. Some of the key simulations include:
l Cesim Global Challenge: Focuses on strategy and international business management.
l Cesim Service: Simulates small service business management.
l Cesim Project: Designed for project management training.
l Cesim Firm: Covers general business management concepts.
l Cesim Marketing: Focuses on marketing management.
l Cesim Hospitality: Tailored to hotel and restaurant management.
l Cesim Bank: Focuses on banking and financial services management.
l Cesim Power: Simulates electric utilities management.
l Cesim Connect: Covers telecom operator management.
l Cesim Retail: Focuses on retail store management.
l Cesim Dealership: Covers automotive dealership and business management.
9. MIT Management Simulations
Website: MIT Management Simulations
These innovative and interactive games create a virtual world in which students explore and participate in the critical management issues facing a range of industries and organizations.
MIT Sloan has long been a pioneer among business schools when it comes to action learning—creating real-world applications of classroom knowledge. Management flight simulations are one such application. These innovative and interactive games create a virtual world in which students explore and participate in the critical management issues facing a range of industries and organizations.
Management simulation games bring an experiential aspect to learning about complex systems. This type of action learning has more impact on students than simply listening to a lecture or engaging in a case study discussion. Students who participate in a simulation can see the immediate consequences of their decisions and learn what it’s truly like to juggle competing priorities amidst a constant influx of information.
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Do you have a suggestion for a new strategy simulation resource that would benefit the STR community or an update to any of the information above? You can email your materials to STR Teaching Committee member Paul Seaborn (ps7wx@virginia.edu).