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Using technology to enhance learning

Using technology to enhance learning. Table of Contents. • Learning strategy of The Marketplace • Target courses • Marketplace scenarios • Normal play of the game • Outsourcing simulation administration • Virtual teams, when teams can’t meet • The Marketplace CD, self-paced study

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Using technology to enhance learning

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  1. Using technology to enhance learning

  2. Table of Contents • Learning strategy of The Marketplace • Target courses • Marketplace scenarios • Normal play of the game • Outsourcing simulation administration • Virtual teams, when teams can’t meet • The Marketplace CD, self-paced study • Distance learning • On-line coaching via artificial intelligence • Global Internet competitions

  3. The Learning Strategyof The Marketplace

  4. Methods of training • Textbooks, lectures, and case studies represent a form of solitary training. • Business simulations are a form of combative training where participants pit their business skills against those of formidable opponents under the watchful eye of a training coach.

  5. Why Use Simulations?learn by doing • The paramount objective is to help students internalize business concepts, principles, tools, and ways of thinking through the practice of business decision making. • Students of all ages love this kind of flight-simulator experience.

  6. Learning Strategy • Students learn about business by learning to manage a business. • The Marketplace scenarios follow the life cycle of a new product. • Business decisions are introduced as they become relevant in the evolution of the product.

  7. Target Courses

  8. Target Courses • Introduction to Marketing • Marketing Management and Strategy • Multinational Business Management & Strategy • New Ventures & Entrepreneurial Management • Integrated Business Management & Strategy (Policy)

  9. Delivery Options Deliver learning to Anyone, Anywhere, At Any Time

  10. Delivery Options • Instructor managed • software and data stored on local PC or file server • instructor collects and distributes data via floppy disk or local area network • Outsourced Internet delivery • data stored on Marketplace file server • students use Internet to send and receive data • instructor logs on to check decisions and progress • Individual study via the Marketplace CD

  11. Languages • Czech - complete • Slovak - complete • Chinese - nearly complete • French - just started • Spanish - soon to be started • Portuguese - soon to be started • Russian - in negotiations

  12. Marketplace Scenarios

  13. Game Scenarios • Microcomputers, United States PC Market • Microcomputers, International PC Market • Electronic Clipboard for medical record keeping, United States Healthcare Market

  14. Microcomputers, United States • The product line is microcomputers. • The year is some time in the early 1980s. • The market is the United States. • The microcomputer industry is in its introductory stage of the product life cycle. • The role of the new venture firms is played by the student teams.

  15. Market Structure Price Mercedes Traveler Innovator Performance Work Horse Cost Cutter

  16. Seattle Portland Minneapolis New York Detroit Milwaukee Cleveland Chicago Philadelphia San Francisco Denver Cincinnati St. Louis Washington Los Angeles Atlanta Dallas Houston Miami Sales Offices

  17. Microcomputers, International PC Market • The product line is microcomputers. • The market is the China, United States, Canada, Brazil, and Europe. • Needs and wants vary by country/region • Market potential, exchange rates and tariffs affected by local and international politics and economy.

  18. Sales Offices Montreal Toronto Calgary Vancouver New York Atlanta Chicago Los Angeles Paris Berlin Rome London Beijing Shanghai Guangzho Tianjin Curitiba Rio de Janeiro Sao Paulo Belo Horizonte

  19. Pen Tablet Scenario • Target market is the healthcare market • Application is medical record keeping • The product line is pen tablet PC computers. • The year is some time in the late 1990s. • The market is the United States. • The pen tablet industry is in its introductory stage of the product life cycle.

  20. Market Structure Price Innovator Mercedes Performance Work Horse Cost Cutter Solo

  21. Normal Play of the Game

  22. Play Follows Product Life Cycle • Q1 to Q4 - introductory phase • Q5 to Q8 - growth phase • Q9 to Q12 - mature phase

  23. Chronology of Events • Q1, organize the team and contract for a survey of potential customers. • Q2, analyze market information, establish strategic direction, and set up shop (build plant, design brands, and set up sales offices). • Q3, Q4, test market brands, prices, ad copy, media campaigns, sales staffing. Study competition and make adjustments in strategy.

  24. Chronology of Events • Q5, prepare a two-year business plan. Present business plan and financial request to venture capitalists and negotiate equity investment. • Q5 - Q8, initiate national roll-out campaign. • Q9 - present Report to Board

  25. Outsourcing Simulation Administration

  26. Outsourcing Simulation Administration • Instructors • can focus on the learning process • are no longer burdened with • collecting and distributing disks • running software, troubleshooting bugs • Marketplace Processing Center in Knoxvilletakes care of everything.

  27. Outsourcing Simulation Administration Instructor: Logs onto the Marketplace file server, chooses industry scenario, level of difficulty, and the number of teams.

  28. Outsourcing Simulation Administration Students: download software, make decisions, transfer decisions, download results,skillfully adjust, transfer new decisions. Internet links Marketplace Processing Center

  29. Outsourcing Simulation Administration Instructor: Logs onto the Marketplace file server, reviews team decisions and results, adjusts play as needed.

  30. Virtual Teams:When Teams Can’t Meet

  31. Virtual Teams • Teamwork is desirable but students have limited ability to meet face-to-face • Capability of setting up virtual teams is ideal for working adults or busy students

  32. The team’s file is stored on an internet server and is accessible by all team members One team member at a time can retrieve the master set of decisions from the Marketplace Processing Center,work on his/her portion and save the updated decisions to the Marketplace server. Marketplace Processing Center

  33. Team members work in sequence to review the current situation, evaluate the options, and make their decisions. Marketplace Processing Center Susan makes her decisions on Monday afternoon Jeff logs in on Monday night. Robert studies his options on Tuesday evening. Mary records her decisions on Wednesday.

  34. Team members collaborate via e-mail, chat rooms, or phone to evaluate the options Teams meet in person or electronically to finalize their decisions.

  35. Instructor: Logs onto the Marketplace file server, Reviews team decisions and results, Adjusts play as needed.

  36. The Marketplace CD:Self-Paced Study

  37. The CD and Individual Study Computer Generated Competitors

  38. Application: hands-on learning is desired, but . . . • Teamwork can be burdensome or impractical • off campus learning (distance learning) • limited and varied schedules (working students) • Instructor is not able to manage multi-team exercises (large sections) • Instructor does not have time or resources to manage multi-team exercises

  39. Simulation Design Options • Number and complexity of business decisions and information • Length of play • Number and aggressiveness of competitors

  40. Discovery is like an onion: Peel back the top layer, and there is more to learn. • Student controls the learning environment • start simple and add difficulty with experience • explore different strategies • revisit the situation, take a different perspective, dig more deeply, expand one’s viewpoint • On-line consultant challenges and coaches • Person at keyboard has greatest satisfaction • Feedback is immediate

  41. Distance Learning

  42. The Goal Deliver learning to Anyone, Anywhere, Anytime

  43. Special Marketplace Features • Delivery options • Internet delivery • individuals • virtual teams • CD for self-paced study • On-line manual at the click of a button • Instructor help file with managerial discussion • Technical help file with data entry directions • On-line coaching

  44. On-line Coaching via Artificial Intelligence

  45. Coaching Students with an On-line Consultant/Mentor • From years of experience, difficult learning points and typical errors of judgment have been identified. • Using a question-and-answer dialogue, students are directed to think more broadly and deeply about each issue.

  46. The Expert System is Personified as a Consultant • Expert system • watches for apparent errors of judgment, • schedules in-depth dialogues at points in time when certain issues become relevant. • Consultation dialogues can be linked to individual students and are available to instructor

  47. Global Internet Competitions

  48. Global Competitions are Ideal for • International business courses • Introducing a strong international element into a strategy course • Testing the desirability of The Marketplace with little faculty work

  49. Competitors are worldwide Canada US Poland Spain Slovakia Taiwan Czech Italy Hong Kong Brazil Peru

  50. Electronic Marketplace resides at UT Transfer decisions Marketplace Processing Center Transfer results

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