During business simulation game students created successful busineses
On April students from dual degree programme “Bachelor of Finance (BA School of Business and Finance) / BBA International Management (SBS)” gave final presentations within the business game which was played during the whole week.
Presentations were evaluated by the Rector of BA School of Business and Finance Andris Sarnovičs, representative from logistics and wine industry and entrepreneur from Estonia Timur Borissov, CEO of „Dzelzceļnieks KKS” Olga Kazachkova, lector form BA School of Business and Finance and insurance industry expert Toms Liepiņš, host of the Business game from Switzerland Patrick Lehner and Neil Rilett and the director of the study programme Tatjana Mavrenko.
After the introductory words from director and hosts explaining how evaluations are going to be managed, students begun with their presentations. Students were divided into 10 teams. Each team had its own company and all 10 companies were situated in two different markets. Main task for each team was to create a successful and profitable watch business applying knowledge they gained during business management courses.
Roles of government were played by lecturers. Teams had to adapt their business depending on the economic changes in the markets and considering changes done by the competitors.
Students came up with very creative, innovative and different ideas. Some teams rose the prices for their watches, positioning them as a luxury products and focused more on the quality and less on the number of units sold. Some teams did completely opposite – they lowered the price that way increasing sales. One team brought their customers back in time, offering luxury pocket watches. There were some really creative ideas, like watches that are powered by the solar energy, one team offered smart watches with build in touch screens and smart phone features. One team gave a chance for its customers to decide how their watches are going to look by letting them be the bosses of the design.
This is a first year for this particular event; it’s been a great initiative from University’s rector and director Tatajana Mavrenko. Within a year after a suggestion, they made it happen, they got funds from European Union and it really is a credit to the forwards thinking policy of the school.
It is great that BA decided so quickly to introduce this simulation to students, because other schools are waiting for five years to decide whether to take a simulation or not and where to get funds.
Students worked very hard. Game was very challenging, engaging, interactive, but it is interdisciplinary and it is completely new experience. It is very though they are only first year students and they apply themselves in very hard working way.
Students were a bit frightened at the beginning, because gaming is something with fun normally and not something you are used to see in the business. But the more the time went by the more they realized it was of interest and the end lecturers could not stop them from working, they were very determined to continue their work. They would tend to stay after the official work hours. It is very motivating for lecturers and hosts of the game. Its nice to see them beening so engaged.
Lecturers surprised by the qulity of work that was deliverd by the lowest level students, the effort they made and how much it mattered to them. They delivered gret presetations and performaces. It is very delightful and motivating.
Photos available on: https://www.facebook.com/media/set/?set=a.10152354263278080.1073741893.3...
