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Strategic Management. A Student View of the simulated learning experience Austin Cooke. Key Benefits. Ability to apply theoretical learning in a simulated “real” environment Creates competition as would be the case in a real corporate situation
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Strategic Management A Student View of the simulated learning experience Austin Cooke
Key Benefits • Ability to apply theoretical learning in a simulated “real” environment • Creates competition as would be the case in a real corporate situation • Allows experimentation – and provides feedback in a number of formats which cannot be argued with • Creates a level of ownership, and encourages background learning : if your results do not look good, you read up on strategy to find an answer to move your results onwards
Key Benefits • Removes the monotony of a long series of lectures and allows simultaneous learning and application • Small groups of individuals can learn from one another and formulate cohesive strategies upon which there is debate and agreement
Assessment of learning outcomes Demonstrate a systematic understanding and critical evaluation of the key aspects of the strategic management process (knowledge and understanding) • Formulation of a strategy which is adapted according to changes in the simulated market • Appraisal through final report of the techniques and strategic methods applied to the exercise • Criticality assessed through final report which brings together the StratSim data and tools, and theoretical learning from the remainder of the course
Assessment of learning outcomes Demonstrate the ability to compare different theories and perspectives of strategic management and use and appraise them appropriately (learning) • Underpins the entire StratSim exercise • Accredits prior learning through effective application with the software and final report • Final report is a consolidated view of the students absorbed learning, application, and comparative ability. Decision as to which method or strategy to apply at each step of the simulated period
Assessment of learning outcomes Critically evaluate theories and concepts of strategic management. Analyse and apply appropriate problem solving techniques plus knowledge learned to solving complex business problems. (analysis, application, problem solving and reflection) • Entire exercise relies on effective problem solving coupled with a need to maintain a strategy • Critical evaluation and reflection an inherent part of the assessment process • Ability to apply the concepts, and evaluate what works, and what is ineffective with substantive evidence to support
Assessment of learning outcomes Demonstrate the ability to communicate complex issues. • Communication of complex issues exists on three levels : • Application within the StratSim tool • Communication with Group • Written assessment • Without the ability to apply what has been learned, the models and principles are simply text on handouts, and are not brought to life. • The module presented the ability for students to participate actively, and to evaluate the effectiveness of the theories, and then communicate the issue encountered, the means of resolution, and the application of strategic theory.
