November 2008
Beginner
448 pages
11h 33m
English
Content preview from Budgeting Basics and Beyond
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25.1. The Capstone Business Simulation[]
[] This section was written by Tom Barkwell, Training Facilitator, Management Simulations, Inc.
Capstone is reputed to be the world's best-selling business educational simulation. Originally developed for executive education in the 1980s, it has evolved into a multifaceted, scalable program that offers varying levels of complexity and optional modules that can be used to teach a wide range of business topics to students at all levels.
Why Use a Simulator?
Simulations provide an unparalleled means of injecting interactivity into the classroom. Interactivity in learning is "a necessary and fundamental mechanism for knowledge acquisition and the development of both cognitive and physical skills.[]
[] Barker, P. "Designing Interactive Learning," in T. de Jong & L. Sarti (eds.), Design and Production of Multimedia and Simulation-based Learning Material. (Dordrecht: Kluwer Academic Publishers, 1994).
Capstone serves as a laboratory where students can experience and analyze cause and effect in decision making without the threat of real financial risk. Mistakes and tactical errors create excellent learning opportunities rather than lost jobs and money, which may happen when similar mistakes are made in the real world.
Businesses need managers who can think critically, analyze complex issues in depth, and understand how the decisions they make can have an impact across functional boundaries. Capstone presents an evolving case study in which students ...
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