Bishkek, March 31 /Kabar/. On March 28-31, 2011 the Business Administration Department of the American University of Central Asia, in cooperation with Arnhem Business School, will organize a simulation of business games. During this intensive four-day simulation, student participants have to manage real businesses through six business cycle periods spanning six-months. Acting as members of the senior management board of a commercial firm, participants have to develop and implement marketing and business development strategies to ensure that their companies would function effectively in their respective market.
Business games of this kind have already been conducted by the Arnhem Business School in a number of cities, including Moscow, London, and Sophia. Such workshops enable participants to gain managerial skills and develop a broad-minded approach to tackling the diverse challenges of operating a business.
For the simulation game at AUCA, the market consists of 10 firms, each represented by a team of 3 to 4 participants, operating in the same industry. Every firm receives a set of financial documents showing the health of the firm and then has to develop business strategies to improve their firm’s performance. The jury will consist of Professors Roel Kalkwijk and Piet Post from the Arnhem Business School. They will judge the quality of each firm’s decisions by looking at the demand for their products.
“We believe that this game will help participants understand that a firm’s performance depends on the decisions made by other groups, market conditions, and the state of the economy. In addition, this course effectively integrates the concepts of accounting, marketing, finance, human resource management, manufacturing, resource planning, international activity as well as creative thinking in a simulated business environment,” emphasize Robert Anderson, Chair of the Business Administration Department.