A business simulation (also known as business simulator, business simulation game or company simulation game) is an experiential learning tool that allows participants to run a virtual company in a realistic, risk-free environment. It promotes the practical application of business knowledge and strategic thinking by immersing students in dynamic decision-making scenarios that span diverse areas such as finance, strategy, operations, and ESG (Environmental, Social, Governance). Players develop and practice important soft skills like problem-solving, communication, teamwork, and leadership, while also learning more about performance indicators, market dynamics, and the effects of sustainable management techniques. Business simulations are an essential tool for contemporary education and corporate training because of their interactive and hands-on format, which increases engagement, improves retention, and fosters confidence.
The dynamic environment of business simulations allows participants to put theory into practice in a risk-free environment. Through this kind of experimentation, participants can put theories to the test, see what works, and become innovative in their solutions to problems.
Learning outcomes are highly dependent on the conditions and motivation for learning. Business simulations are hands-on learning tools that involve competition between teams/participants. The game-like nature of business simulations is proven to engage participants and develop deep-learning skills such as collaboration, critical thinking and problem solving.
When playing a business simulation participants need to apply and practice important soft skills. These include but are not limited to adaptability and reliability, teamwork, conflict resolution, critical thinking, communication, and problem solving.
Business simulations develop participants' holistic thinking, commercial acumen, decision-making, and strategic skills.
Experiential learning methodology is the foundation of business simulations, and provides a higher level of knowledge retention compared to other instruction methods.
Failure is never pleasant, but learning from your own mistakes is key part of self-improvement. Business simulations provide a risk-free environment where failure is safe, yet the lessons learned are genuine and applicable in real life. Studies have shown that failure in a business simulation actually improves learning, as participants are more likely to reflect on and analyze their decisions when faced with suboptimal results.
Online business simulations can be applied in a classroom, hybrid, or virtual format. Groups can consist of fewer than 10 participants to thousands. Simulation content can be adjusted according to the target group, and facilitation can be handled by the organization's own resources or externally.
Integrating ESG (Environmental, Social, and Governance) decisions through simulations allows participants to experience the multifaceted impact of incorporating sustainable development goals into their strategic planning. Engaging in business simulations underscores the vital role of responsible management by seamlessly intertwining it with core strategy and operations, rather than isolating it as a separate policy. This experiential approach not only illustrates the importance of sustainable practices but also provides insights into balancing improved financial performance with delivering comprehensive value to all stakeholders.
GenAI-powered virtual assistants—such as Cesim’s Tireless Teaching Assistant and AI Coach
—empower both instructors and students to get the most out of simulation-based learning. Drawing on real-time, context-specific simulation data, these tools enhance teaching effectiveness and deepen student engagement.
For instructors, the AI Teaching Assistant helps align the simulation with course learning objectives, analyze results, personalize feedback, and spark meaningful class discussions.
For students, the AI Coach serves as a supportive guide, bridging the gap between simulation insights and their individual learning journey. Rather than providing direct solutions or strategies, it fosters growth and self-discovery by asking reflective questions and offering observations—encouraging learners to think critically and make their own decisions.
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Cesim provides a broad portfolio of easy-to-use business simulations for educational institutions and corporations. As a leading education technology company we offer customizable, flexible, web-based simulations, compatible with all devices and operating systems. Come discover why over 1000 higher education institutions worldwide are currently using our simulations.
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