[IB10] Business simulation in Didzdvaris Gymnasium

Ieva Poškutė - 

This school year IB2 student Ieva Poskute became the ambassador of ISM University at our school. One of the tasks as an ambassador was to organize an event related to the university, in this case - a business simulator.

The aim of a business simulator is to help to understand the main principles of the business world. It helps to experience how the market works, one learns to analyze the situation and make fast and relevant decisions in a team. These kinds of simulators are widely used in the university, for students to try the business methods in practice.

This business simulator was in the form of a game. There were six teams participating and each one of them took a random envelope with the equipment they needed for the task. There were three types of envelopes, each representing a type of country: developing, averagely developed or developed. Each envelope had a certain amount of money, paper, scissors, rulers, geometric forms, and pencils. The task of each group was to cut out as many geometric forms as possible from the material given and to sell them to the bank for the highest possible price. The bank was open during the whole simulator and it was changing the prices of the forms depending on the amount of them already bought from the groups.

The simulator ended when the bank had closed and the group of participants, who earned the highest profit, were awarded with books given by the university, which were about business and leadership.

The participants said they liked the event, that it was fun and that they would like to participate in a similar event again. Due to the success of the simulator there might be more events of this kind at our school in the future.

Simulation in action

Winners enjoying their prizes