Simulating reality for teaching strategic management

This paper describes the development of a business simulation combining a computer application with real experts to provide university students with an immersive experience in business management. It introduces a methodology that involves students in a process of interaction with other participants as well as benefiting from valuable feedback from experts acting as economic agents. The approach has been tested, in the context of a Certificate of European Law and Economics course, at the University of Economics in Bratislava, Slovakia during the 2002/ 3 and 2003/ 4 academic years. Analysis of the experience that was gained has provided some guidelines that instructors can use to integrate simulation effectively into their teaching practices relating to strategic management.