| Effective Term: | 2024/05 |
| Institute / School : | Institute of Innovation, Science & Sustainability |
| Unit Title: | Business Simulation |
| Unit ID: | BUGEN3701 |
| Credit Points: | 15.00 |
| Prerequisite(s): | (At least 120 credit points from ANY subject-area at any level) |
| Co-requisite(s): | Nil |
| Exclusion(s): | Nil |
| ASCED: | 080399 |
| Other Change: | |
| Brief description of the Unit |
This course is a hands-on business simulation exercise designed to challenge teams via competitive decision making and management of trade-offs in a competitive business simulated industry environment. Students are expected to engage in case analysis and team projects for analysis and discussion of business decisions, issues, and strategic management trade-offs. The objective is to develop a broad perspective in managerial decisions and an appreciation of economic and social factors that drive modern global organizations. The course consists of a combination of lectures, readings and case studies. Students are expected to apply concepts and techniques garnered during the course in tackling case study preparation and discussion and team decision making and analysis. Participation in case discussions is a vital element of the course, and will be an important component of the overall performance in the course. |
| Grade Scheme: | Graded (HD, D, C, P, MF, F, XF) |
| Work Experience Indicator: |
| No work experience |
| Placement Component: No |
| Supplementary Assessment:Yes |
| Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment |
| Course Level: |
| Level of Unit in Course | AQF Level(s) of Course | | 5 | 6 | 7 | 8 | 9 | 10 | | Introductory | | | | | | | | Intermediate | | | | | | | | Advanced | | |  | | | |
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| Learning Outcomes: |
| Knowledge: |
| K1. | Identify and analyse the main approaches to research in the areas of management, marketing or any area of business |
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| K2. | Evaluate the nature of management processes used in development of strategy |
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| K3. | Analyse how the external environment and competitive forces shape strategic responses and develop a knowledge of systematic interaction in organisations |
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| K4. | Appraise the practical application of business policy models with the view to gaining further knowledge in the areas of strategy and organisation. |
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| K5. | Analyse the integration of operational and strategic activities within a business environment. |
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| Skills: |
| S1. | Create logical and strategic business decisions in a practical workplace simulation. |
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| S2. | Apply academic knowledge in a workplace context, and to reflect and report on the experience. |
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| S3. | Ability to develop professional skills relevant to discipline specific issues. |
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| Application of knowledge and skills: |
| A1. | Apply conceptual and theoretical knowledge to work simulation situations. |
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| A2. | Develop, apply and implement, as a member of a team, competing everyday business tasks and making decisions relating to the overall operation of the business and growth of the business. |
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| A3. | Independently identify a diverse range of strategic organisational issues, across multiple industries from a global perspective, using appropriate strategic and organisational change theories. |
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| Unit Content: |
This is a practice based course. The Business Simulation course, used by more than 100 business schools world-wide including Wharton and Harvard, will be integrated into the course lectures and discussions and will give students the opportunity to work as teams in making important tradeoffs and decisions regarding marketing, operations, product decision, human resources, logistics, and finance issues in a simulated business environment. The relative performance of each team on multiple criteria for the eight rounds (simulated years of market operations) will represent a part of the overall grade for the course. |
| Graduate Attributes: |
| | Learning Outcomes Assessed | Assessment Tasks | Assessment Type | Weighting | | 1. | K1, K2, K3, K4, K5, S1, S2, S3, A1, A2, A3 | Simulation Presentation Group or individual progress report | Presentation | 20-30% | | 2. | K1, K2, K3, K4, K5, S1, S2, S3, A1, A2, A3 | Simulation Written Report
Based on decisions made regarding marketing, operations, product decision, human resources, logistics, and finance issues in a simulated business environment. | Written Report | 70-80% |
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