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What people says?

Dr. Vincent Cheng
Ms. Vanessa Ko
Dr. Edmund K.L. Wong
Dr. LAU, Joseph Yui Yip
Amy Liu

Sharing by Lecturers/ Industrial Practitioners

Binnovator- HKUST

What Winning Teams Say.........

Unlock Future Possibilities

Icetech Education hopes to bring the business simulation learning experience to everyone in the future. With different Competitions and Activities held in the past, we hope to provide high-level insights into the dynamic business marketplace with a practical exercise of Data Analysis and AI Decision Support System (DSS) through Business Intelligence (BI), enhancing the experience of business management learning. Participants of our competitions will be encouraged to analyze and debate on various important business issues within their teams; to explore and identify the cause and effect relationship between the driver and business performance with broad spectrum of business concepts.

What is Business Management Simulation?

Business Simulation is a powerful AI system for educational and organizational learning and development. Business simulations enable learner to be immersed in the business marketplace with alignment of their critical thinking on strategy, improve their business acumen and business finance skills, and ultimately improve the logic to progress their decision making.

  1. Realistic business scenarios: The simulations aim to mimic real-world business conditions, including market dynamics, competition, supply chains, financial management, and more.

  2. Decision-making: Users are placed in the role of a business leader or manager and must make decisions on various aspects of the business, such as pricing, production, marketing, and resource allocation.

  3. Feedback and consequences: The simulations provide feedback on the impact of the user's decisions, allowing them to see the consequences of their actions in a risk-free environment.

  4. Learning and skill development: By navigating through the simulations, users can develop valuable business skills, such as strategic thinking, problem-solving, risk management, and financial analysis.

  5. Collaboration and teamwork: Some business management simulations are designed for multiple users to work together, fostering teamwork and collaborative decision-making.

Learning Outcomes of Business Management Simulation

  1. To learn about what is workforce in a business, financial awareness, key business concepts, accounting and finance principles on how they are interconnected, and their roles in impacting business success. 

  2. To relate the business strategy and execution of a company in a competitive market.

  3. To setup strategic decisions to achieve higher returns and market dominance.

  4. To fully understand the processes of strategic planning, goals setting, situation and risk appraisal, potential problems and solutions identification, analysis and decision making, and review and debrief from financial statements.

  5. To well develop and equip with the ability of establishing strategies, operation decisions, management by objective, performance management, strategy execution, delegation and accountability along with a successful team building.

  6. To strengthen the theories (including mainstream business principles, financial statements, market analysis etc.) from learning in book.

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