Related Research Articles
Cost accounting is defined by the Institute of Management Accountants as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, classifying, allocating, aggregating and reporting such costs and comparing them with standard costs". Often considered a subset of managerial accounting, its end goal is to advise the management on how to optimize business practices and processes based on cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future.
Marketing management is the organizational discipline which focuses on the practical application of marketing orientation, techniques and methods inside enterprises and organizations and on the management of a firm's marketing resources and activities.
Simulation video games are a diverse super-category of video games, generally designed to closely simulate real world activities. A simulation game attempts to copy various activities from real life in the form of a game for various purposes such as training, analysis, prediction, or entertainment. Usually there are no strictly defined goals in the game, and the player is allowed to control a character or environment freely. Well-known examples are war games, business games, and role play simulation. From three basic types of strategic, planning, and learning exercises: games, simulations, and case studies, a number of hybrids may be considered, including simulation games that are used as case studies. Comparisons of the merits of simulation games versus other teaching techniques have been carried out by many researchers and a number of comprehensive reviews have been published.
A technology roadmap is a flexible planning schedule to support strategic and long-range planning, by matching short-term and long-term goals with specific technology solutions. It is a plan that applies to a new product or process and may include using technology forecasting or technology scouting to identify suitable emerging technologies. It is a known technique to help manage the fuzzy front-end of innovation. It is also expected that roadmapping techniques may help companies to survive in turbulent environments and help them to plan in a more holistic way to include non-financial goals and drive towards a more sustainable development. Here roadmaps can be combined with other corporate foresight methods to facilitate systemic change.
Target costing is an approach to determine a product's life-cycle cost which should be sufficient to develop specified functionality and quality, while ensuring its desired profit. It involves setting a target cost by subtracting a desired profit margin from a competitive market price. A target cost is the maximum amount of cost that can be incurred on a product, however, the firm can still earn the required profit margin from that product at a particular selling price. Target costing decomposes the target cost from product level to component level. Through this decomposition, target costing spreads the competitive pressure faced by the company to product's designers and suppliers. Target costing consists of cost planning in the design phase of production as well as cost control throughout the resulting product life cycle. The cardinal rule of target costing is to never exceed the target cost. However, the focus of target costing is not to minimize costs, but to achieve a desired level of cost reduction determined by the target costing process.
Design management is a field of inquiry that uses design, strategy, project management and supply chain techniques to control a creative process, support a culture of creativity, and build a structure and organization for design. The objective of design management is to develop and maintain an efficient business environment in which an organization can achieve its strategic and mission goals through design. Design management is a comprehensive activity at all levels of business, from the discovery phase to the execution phase. "Simply put, design management is the business side of design. Design management encompasses the ongoing processes, business decisions, and strategies that enable innovation and create effectively-designed products, services, communications, environments, and brands that enhance our quality of life and provide organizational success." The discipline of design management overlaps with marketing management, operations management, and strategic management.
Business simulation or corporate simulation is simulation used for business training, education or analysis. It can be scenario-based or numeric-based.
Strategic planning software is a category of software that covers a wide range of strategic topics, methodologies, modeling and reporting.
Military simulations, also known informally as war games, are simulations in which theories of warfare can be tested and refined without the need for actual hostilities. Military simulations are seen as a useful way to develop tactical, strategical and doctrinal solutions, but critics argue that the conclusions drawn from such models are inherently flawed, due to the approximate nature of the models used. Many professional analysts object to the term wargames as this is generally taken to be referring to the civilian hobby, thus the preference for the term simulation.
Global Management Challenge (GMC) is a strategic management competition for managers and university students. Participants form teams of 3-5 members, and each team is placed in a group of 5-8 teams, depending the competition. The teams are then given a virtual company, initially identical to every other company in the competition. Each team then develops their company by making a series of decisions relating to every aspect of the business, such as how many machines to buy, or how much to spend on advertising. In each round, five sets of decisions are taken, corresponding to five quarters. A quarter is a period said to span three months.
Business war gaming or business wargaming is an adaptation of the art of simulating moves and counter-moves in a commercial setting. In a complex global and competitive world, formulating a plan without testing it against likely external reactions is the equivalent of walking into a battlefield without the right weapons or a plan to win. In situations where the cost of being wrong is high, war games can be very helpful to understand from a 360-degree perspective the external opportunities and challenges of all the key stakeholders in the industry.
A simulation game is "a game that contains a mixture of skill, chance, and strategy to simulate an aspect of reality, such as a stock exchange". Similarly, Finnish author Virpi Ruohomäki states that "a simulation game combines the features of a game with those of a simulation. A game is a simulation game if its rules refer to an empirical model of reality". A properly built simulation game used to teach or learn economics would closely follow the assumptions and rules of the theoretical models within this discipline.
The browser-based IndustryMasters product is a range of business simulation games that allows students, business people and others to sharpen their entrepreneurial and strategic management skills by building their own company and competing in real-time against each other
Jean-Claude "JC" Larreche is Emeritus Professor at INSEAD, Fontainebleau, France, where he held the Alfred H. Heineken Chair of Marketing from 1993 to 2018. His academic and business activities are focused on building the fundamental capabilities required to create corporate value, especially through marketing excellence, customer focus, and value-capture selling.
Business game refers to simulation games that are used as an educational tool for teaching business. Business games may be carried out for various business training such as: general management, finance, organizational behavior, human resources, etc. Often, the term "business simulation" is used with the same meaning.
In business, training simulation is a virtual medium through which various types of skills can be acquired. Training simulations can be used in a variety of genres; however they are most commonly used in corporate situations to improve business awareness and management skills. They are also common in academic environments as an integrated part of a business or management course.
Markstrat is a business market simulation game developed by Jean-Claude Larréché and Professor Hubert Gatignon, in which players take control of a virtual corporation. Players make a number of decisions in marketing, finance, research and development, and other areas in order to achieve a better performance than competing players, who also take control of their own companies. After the game was developed it was distributed on an ad-hoc basis by the French business school INSEAD. Markstrat is played in over 500 academic institutions worldwide, including 8 of the top 10 international business schools.
Project team builder (PTB) is a project management simulation tool developed for training and teaching the concepts of project management and for improving project decision making. A number of published books and academic papers are based on the PTB and its predecessors. The PTB won the Project Management Institute Professional Development Product of the Year Award. The PTB is used in universities and business organizations around the world. The simulator is based on an approach that separates the simulation engine from the scenario editor and allows each user to simulate any project. The simulation engine simulates the dynamic stochastic nature of modern projects. The design of the PTB supports the system engineering approach to Problem solving as each scenario presents the requirements, the alternatives that can be selected and the constraints imposed on the solution. The user has to trade off the cost, schedule, risk, and benefits to the stake holders and to find a feasible, robust, good solution for the scenario. The solution is then simulated by the simulation engine while the trainee exercises monitoring and control throughout the execution. A planned project can be simulated using Monte Carlo simulation. This is done in automatic mode and shows the probability to finish the project at any time period or at any cost. Furthermore, based on the Monte Carlo simulation the probability of each activity to be on the critical path is estimated. The Monte Carlo analysis supports risk analysis and decision making. Another characteristic of the simulator is the ability to save points in the history of each run for future analysis or even for testing a different solution from any of the points saved.
Friday Night at the ER is an experiential team-learning game. Played on game boards at tables with four players per board, each gameplay session is followed by a detailed debriefing in which participants relate the simulation experience to their own work and gain insights for performance improvement.
Marketing simulation games provide participants with an interactive method of testing out marketing decisions in an environment which is virtual or which has game characteristics. Common game topics belong to categories such as: marketing strategy, product positioning, pricing strategies, consumer behaviour. Marketing games usually focus on the marketing landscape of a certain business industry or a company. A marketing simulation game usually contains a number of scenarios and provides participants with results in response to their decisions.
References
- ↑ Peter Palij (1995). "INTOPIA: International Operations Simulation/Mark 2000". Simulation & Gaming. 26 (4): 524–7. doi:10.1177/1046878195264014. S2CID 219971662.
- ↑ "Intopia Inc" . Retrieved 5 November 2015.