Friday, March 13, 2015

WORKSHOP ON COMPUTER BASED BUSINESS SIMULATION @ NCM

Date: 25/02/2014
By: GTU
Venue: Narmada College of Management

 

 

 

 


GTU in association with Rathgeber & Partner-GmbH – Germany has intended to launch a computer based Business Simulation Course for the management students of semester-3 as a part of MBA Curriculum. The students having the hands-on practice of this software in Semester III, it can be very well utilized in Semester IV in their practical projects like GCSR and CP.

Students will be asked to make and analyses of various strategies related to Finance, Marketing, HR or Production etc. with the help of this Business Simulation program. It gives various hypothetical situations, options and alternatives to the students to analyze the business strategies with the help of this software. This is a very useful program for Management students, which provides student an opportunity to participate in the process of analyzing complex, industry-defined problems, requiring short, medium and long-term planning in a realistic environment under a risk free environment. The main Strategic decision fields are marketing, production, logistics and finance a. As a first step of this initiative, GTU is going to train the Faculties of MBA for this particular course to let them understand the basic structure and fundamental technicality of the course.

As a part faculty orientation, the company organized the orientation programme at various locations. Narmada College of Management was selected as the as the venue for South Gujarat Region. On 25the February 2015, the program was held during 10.30 to 13.30. 14 Faculties from various Management colleges of South Gujarat Region participated in the workshop. The list of participants is enclosed with this report.

The simulation program has the following advantages

o   Practical & activity based program enhances the Managerial skills, decision making skills, can develop critical thinking skill, increase entrepreneurship ability, increase department integration knowledge, experience the real industry set up and run activities
o   Can experiment multiple theory for Industrial Entrepreneurship
o   Increase confidence level before joining industry
o   World wide student community accepted program as part of their curriculum
o   Suitable & recommended for the students of Management, Business & Engineering.
o   Comprehensive study coverage of domain. (Marketing, Finance, H.R and Production)
o   German Certification from Rathgeber & Partner –GmbH
o   Training to Trainers for execution of the program and technical Support

The workshop flow was as follows…
a)     Introduction of Business Simulation
b)     Presentation with program Features
c)      Practical Demonstration of the program & its operations
d)     Question Answer Session



During the Question Answer Session, various suggestions were given by participating faculties as follows.

Simulation Activity can be introduced in semester 2 as a part of subject – Management Information System.  And along with that we can give them learning on various functional departments. By doing this, we can enable students to make use of BS in SIP where they will be working with organizations and real time problems.  
-       Dr. S. H. Mistry

Two day FDP [0.5 Day for orientation; 1 day for playing through simulation; 0.5 day for Analysis] should be organized.  The Business Simulation can be offered as an elective in semester III. We can allow the test round (free) as a tool for awareness and also for the priming the students.
-          Dr. Ravi Vaidya

FDP of two days should be conducted and practice is needed to have hands over the Business Simulation.
-          Prof. Prabin Chandra Padhy & Prof. Parag More

Business Simulation must be linked with core subjects in Semester 2 & then in consequent projects and further subjects in next semesters. Less teaching through books should be practiced & Game based learning should be introduced.

-          Dr. Kedal Shukla

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