Do they know what they think they know? · Do they know what they think they know? Using...

Do they know what they think they know?

Using simulations in the online MBA to reveal gaps and build integrated decision-making skills

Photo by Suad Kamardeen on Unsplash

John Kraft, PhDDean and ProfessorWarrington College of Business, University of Florida

john.kraft@warrington.ufl.edu

Tawnya Means, PhDAssistant Dean and Director, Teaching & Learning CenterCollege of Business, University of Nebraska-Lincoln

tawnya.means@unl.edu @Tawnya_Means

Agenda

Why use simulations

Simulations used at Florida and Nebraska

Information and teaching tips about the added materials and activities that

enhance the simulation

Grading and feedback provided

to students

Benefits students gain from the

simulation experience

Data collected that can be used for assessment and

assurance of learning

Prepare students to engage and learn in a safe environment

Bridging the Knowing-Doing Gap

https://flic.kr/p/EK9mrY

“…where all the women are strong, all the men are good looking, and all the children are above average…”

The Knowing-Doing Gap

“…where all the women are strong, all the men are good looking, and all the children are above average…”

The Knowing-Doing Gap

Prepare students to engage and learn in a safe environment

https://flic.kr/p/prtMvY

Bridging the Knowing-Doing Gap

Traditional ExamsMultiple guess, “Christmas tree” option, three scantrons and a cloud of

dust…

Requires a process of transformation

Make Learning Meaningful

https://flic.kr/p/oERppQ https://flic.kr/p/94m8ws Photo by Paweł Furman on Unsplash

Do it, think about it, what does it all mean, plan what to do more…

Kolb’s Cycle of Learning

Integration• Knowledge• Activity• Reflection

Cycle• Concrete experience• Reflective observation• Abstract conceptualism• Active experimentation• Rinse and repeat

Experiential Learning Defined

…any learning that supports students in applying their knowledge and conceptual understanding to real-world problems or situations where the instructor directs and facilitates learning. The classroom, laboratory, or studio can serve as a setting for experiential learning through embedded activities such as case and problem-based studies, guided inquiry, simulations, experiments, or … projects (Wurdinger & Carlson, 2010).

https://facultyinnovate.utexas.edu/teaching/strategies/overview/experiential-learning

Course-related Experiential Learning Types

Cases

• Mini vs. full vs. live

• Discussion vs. presentation

In-class Exercises

• Content-focus vs. Mindset-focus

• Single- vs. multi-session

Videos & Movies

• YouTube• Hollywood• TedX• Student

created

Role Plays / Negotiations

• Students w/expert(s)

• Students w/ faculty

• Faculty alone• Student to

student

Class Projects

• Company analyses

• Plans / Feasibility studies

• Market / Field research

• Develop product, model, concept, etc.

• Interviewing• Consulting

Simulations

• Single- vs. multi-session

• Live vs. online• Individual vs.

team

Other Games / Competitions

• Popular game based (Monopoly)

• TV games (Jeopardy, Who wants to be a millionaire?)

• Investment, stock market based competition (Fantasy stocks)

• Concept pitch (Shark Tank)

Exams

• Case / Context -related

• In class vs field

• Written / oral / video

• Professor vs student created

Reflection

• Diaries / journal

• Reflection paper / video / recordings

Benefits of Experiential LearningBy engaging in formal, guided, authentic, real-world experiences, individuals:• deepen their knowledge through repeatedly acting and then

reflecting on this action,• develop skills through practice and reflection,• support the construction of new understandings when placed in

novel situations, and• extend their learning as they bring their learning back to the

classroom.https://facultyinnovate.utexas.edu/teaching/strategies/overview/experiential-learning

Change the assessment to match reality

Make Learning Real

https://flic.kr/p/MQi3ZPhoto by Patrick Schneider on Unsplash

Integrated decision-making is learning by doing

Simulations

No one size fits all…

Bridging the Gap

Photo by Cody Hiscox on Unsplash Photo by Ijaz Rafi on Unsplash Photo by Pedro Mac on Unsplash

Companies: Simulations

MarketplaceNumerous simulations

International Corporation Management

Conscious Capitalism

CapsimSeveral options

CapstoneGlobal DNA

CesimGlobal Challenge

CapsimCore

Capstone

GlobalDNA

CompXM

TeamMate

Wide Range of Applications• Part of regular course:

• Strategy• International Business• Entrepreneurship

• Capstone Experience• Tournament• Length of term:

• Semester (15 weeks)• Quarter (10 weeks)• Module (6-7 weeks)• One Week• Tournament

• Various levels:• Undergraduate• Honors• Graduate• Executive education

• Groups• Individual (footrace)• Teams• Competitive

Preparing students to engage in a safe environment

Bridging the Knowing-Doing Gap

https://flic.kr/p/dusdNMhttps://flic.kr/p/7srqQB

Optimal Number of Rounds

Simulation RoundsInternational Corporate Management 8Conscious Capitalism 6Global DNA 6-7Capstone 6-7Global Challenge 6-8

Launching students on the path

Support Resources and Outreach

Announcements

Videos

Training tutorial

eText

Outreach

Communication and support are key

Helping Students Succeed

Targeted messages

Discussions

Go beyond the simulation to review, extend, and integrate reflection

Support Resources and Outreach

Concepts and Context Cases:• Bring in the Bots• Give me a High End Product• Porter’s 5 Forces• Surviving the Downturn• We’re Moving!

Go beyond the simulation to review, extend, and integrate reflection

Support Resources and Outreach

It probably is not fair to say this wasn’t discussed in the course material (the book was rather thorough), but the need for flexibility to adjust your strategy as the market develops was a strong lesson learned. The book talks about this from the standpoint of a SWOT analysis, 5 forces, PESTLE, etc. and the simulation served as a lesson in selecting a strategy and following through on the steps to carry it out successfully. But a management team needs to be able to identify when a strategy is not working as intended and make the minor (or possibly major if it is really bad) changes to ensure the ship stays on course. A good strategy is as much dependent on the external environment as it is on internal choices and capabilities.

The simulation was a great way to end the MBA program because it tied many things together. This took all of the core-class course content from paper to more of a real-life example of how everything fits and works together.

Feedback leads to learning and growth

Scoring and Feedback

Simulation as a part of overall course grade

Scoring and Weight

Student UnderstandingThe simulation really brought course materials to life. Never before in my MBA did I understand the relationship between major functions of a business so clearly. We saw first-hand how tricky it is to time R&D so that a product arrives at the same time as a competitor’s. We saw how difficult it is to decide whether to reposition an old product or simply introduce a brand new one. Foremost however, we clearly understand how forecasting is the cornerstone of any business. Running a business, frankly, would be very easy if demand were constant and management possessed perfect information about its’ customers. This desire for information about customer behavior is what drives the advertising and data gathering by so many companies. And now I understand more fully why.

Use the data

Bridging the Knowing-Doing Gap

Photo by Jack Anstey on UnsplashPhoto by Silas Baisch on Unsplash

Course Level Foundation Capstone GlobalDNA CompXM TeamMATE CapsimCore

Strategic Management Undergraduate ✔ ✔

International Business Undergraduate ✔ ●

Global Strategic Management

Graduate (Online MBA) ✔ ✔ ✔

Global Strategic Management Graduate (MS MGT) ✔ ✔ ✔

Business Policy Graduate (Engineering) ✔ ✔ ✔

Capstone Project Course Graduate (MS IB) ✔ ✔ ✔

Principles of Finance Undergraduate ●

Principles of Marketing Undergraduate ●

The lay of the land

Implementing Simulations on a Large Scale

KEY: ✔ = implemented; ● = planned i l t ti

Learning Goal MBA MS Int’l Bus. MS Mgmt BSBA

Demonstrate competency across business disciplines

Capstone/Comp-XM N/A GlobalDNA/Comp-XM Foundation/GlobalDNA

Demonstrate teamwork and leadership skills TeamMATE TeamMATE N/A N/A

Demonstrate critical thinking Capstone/Comp-XM GlobalDNA/Comp-XM GlobalDNA/Comp-XM N/A

Possess effective communication skills Comp-XM/Capsim360 Comp-XM/Capsim360 Comp-XM/Capsim360 Comp-XM

Possess a global perspective on business N/A GlobalDNA/Comp-XM N/A GlobalDNA

Apply appropriate problem-solving and decision-making skills (UG only) N/A N/A N/A Foundation/GlobalDNA

Appreciate the ethical aspects of business (UG only) N/A N/A N/A Comp-XM

Understand the principles of groups, teams, managers, and leaders (UG only) N/A N/A N/A TeamMATE

Matching the assessment to student learning goals

Assessment to Goals

Blue = currently used; Green = available to use; N/A = not applicable to program

Goal Description Average

Analytical and/or QuantitativeDemonstrating proficiency in areas such as statistical and other

mathematical techniques, data analysis, and quantitative modeling of business-related information.

76%

Critical-thinking and/or Decision-making

Demonstrating proficiency in areas such as complex problem solving, logical reasoning, and idea generation for making

business-related decisions.75%

Functional Knowledge Application

Demonstrating proficiency in the functional areas of business, such as finance, accounting, marketing, operations, and human resources, as well as the capacity to synthesize and apply this

functional knowledge.

76%

Crunching the numbers

Data Analysis

Crunching the numbers

Data Analysis

• Requires continual commitment to change in:• Curriculum• Faculty development and support• Student development and support• Administrative and staff• Resources

• Coordinate these efforts against an institutional vision• Requires evaluation of current structures and processes, longitudinal data,

changing to a learner-centered institution, continual inquiry and improvement, stakeholder conversations

Institutional change…

What Can We Do?

Kolb, Alice Y., and David A. Kolb. "Learning styles and learning spaces: Enhancing experiential learning in higher education." Academy of management learning & education 4.2 (2005): 193-212.

• What one thing would you like to try?• What is stopping you?• What is the path forward?• Where can you get help?

Starting the conversation

How will you bridge the gap?

Questions and comments

Contact

John Kraft, PhDDean and ProfessorWarrington College of Business, University of Florida

john.kraft@warrington.ufl.edu

Tawnya Means, PhDAssistant Dean and Director, Teaching & Learning CenterCollege of Business, University of Nebraska-Lincoln

tawnya.means@unl.edu @Tawnya_Means