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Enlight Software Ltd. Educational Uses of Capitalism II.

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Presentation on theme: "Enlight Software Ltd. Educational Uses of Capitalism II."— Presentation transcript:

1 Enlight Software Ltd. Educational Uses of Capitalism II

2 Blending Entertainment and Education Video games have made the leap from niche hobby to mass entertainment medium. Games have affected how we spend our past-time and have taken online social activities to a new level via massively multiplayer online games. Games are also making inroad into the higher education sector, thanks to its unique approach of introducing complex concepts with interactive and compelling simulations.

3 Uses of Video Games Video Games EntertainmentEntertainment Game-based eLearning Online Socialization

4 Simulation video games complement traditional teaching methods to improve learning effectiveness. Traditional teaching methods emphasize on: Theories Understandings of separate business disciplines Case study Blending Entertainment and Education

5 Traditional teaching methods: Pros: Effective in introducing a systematic set of concepts to students. Cons: Do not provide enough learning opportunities for creative uses of the theories to solve problems in the business world. Blending Entertainment and Education

6 Comparisons of teaching methods Cognitively Active Cognitively Passive Lectures Textbook Case Studies Simulation Video Games No Competitors Static Competitors Real-time AI Competitors

7 Business simulation games: are designed to complement the traditional teaching methods. enable students to apply their theoretical business knowledge to an interactive environment. AI competitors respond to the players business actions in real-time. The competition is intensive. make the learning process more fun, increasing students motivation to learn. Blending Entertainment and Education

8 AI competitors in a simulation game react in real-time. The competition is cut-throat.

9 In a business simulation game: Students assume the roles of top managers of a company They must identify and evaluate market opportunities, formulate business plans and execute them to achieve results. They have to make decisions in such business areas as marketing, sales, pricing, manufacturing, hiring, capacity planning, inventory management, research and development. Blending Entertainment and Education

10 A dynamic market where AI competitors roll out new products of better quality and of lower prices constantly.

11 The player runs a department store in a simulation game

12 In a business simulation game: Students are given a specific set of business or financial goals to meet. They have to face the consequences of their decisions. So students must think hard about each decision they are going to make. During the process, they also learn the essentials of leadership and team building. Blending Entertainment and Education

13 Comparisons of teaching methods Cognitively Active Cognitively Passive Lectures Textbook Case Studies Simulation Video Games No Competitors Static Competitors Real-time AI Competitors Dynamic markets with unpredictable changes, resembling the real business world Dynamic markets with unpredictable changes, resembling the real business world

14 Capitalism – the business simulation game Enlight Softwares Capitalism, a PC-based business simulation game, is one of the most popular business simulation games on the market. A number of world-class universities used Capitalism in teaching business courses, including such notable ones as follows: Harvard University Stanford University Duke University University of North Carolina

15 Enlights Capitalism II business simulation game

16 Business schools who have used Capitalism in teaching have reported overwhelmingly positive students feedback. Students interests in the course subjects and motivation to learn have increased markedly. Professors who have used Capitalism were very pleased with the products performance as a teaching tool. Capitalism – the business simulation game

17 A city with dynamic economic activities in Capitalism

18 Notable quotes about Capitalism: Capitalism is a world class, hands-on learning experience which I've used at Stanford School of Engineering and Harvard Business School. Gamers not only learn the subtleties of growing an entrepreneurial business but also learn about leadership and team building necessary in any business situation. Capitalism is very realistic and will allow the dynamics to change depending on whether you're selling a cola product, which is sort of a low tech-branded consumer good, or whether youre selling consumer electronics or a PC. - Professor Thomas Kosnik, Consulting Professor, Stanford University, and Lecturer, Harvard University Capitalism – the business simulation game

19 "This game does an excellent job of modeling many of the key aspects of modern business. In particular it's gratifying to me to see that the game rewards thinking about sources of long-term competitive advantage, be it from brand recognition, low production costs gained from learning-by-doing, a monopoly on high quality inputs, or a big technological lead. - Professor Drew Fudenberg Harvard University Capitalism – the business simulation game

20 Capitalism: a Closer Look In Capitalism, you may set up and operate companies in the following industries: Retail Manufacturing Research and Development Agriculture – farming and livestock raising Mining – acquisition and extraction of natural resources Forestry Real Estate Development Media companies

21 Agricultural business in Capitalism II

22 A mining operation

23 A factory manufacturing leather goods

24 The retail business

25 Research and development facilities

26 Real estate development

27 You may build a conglomerate with market presences on a large variety of products, including: Apparel - Automobile - Bath Supplies - Beverage Chemical Products - Computers – Cosmetics - Desserts Drugs - Electrical and Electronic Products – Food Footwear – Furniture – Jewelry - Leather Goods Livestock Products - Photography Products - Snacks Sport Equipment - Toys - Video Game Devices – Watches Capitalism: a Closer Look

28 Manufacturing Process of Sofas

29 Manufacturing Process of Cars

30 Manufacturing Process of Leather Shoes

31 You may set up a global chain of discount megastores, or focus on building up your reputation as an operator of high quality specialty stores such as follows: Drug Store Apparel Store Automobile Outlet Hardware Store Footwear Store Jewelry & Watch Store Leather Store Cosmetic Store Furniture Store Sports Store Toy Store Capitalism: a Closer Look

32 Choose from a variety of retail store types in Capitalism II

33 Learn about the following business disciplines while you strive to build your own business empire: Accounting Advertising Procurement Private labeling Supply chain management Human resources Staff training Economic cycles Labor costs Economies of scale Capitalism: a Closer Look

34 Supply chain management – screen showing the logistics of a factory

35 Advertising – interface showing a list of advertising media

36 Accounting – the income statement

37 Human resources – the head hunting interface

38 The player may engage in the following Investment and financial activities : Stock trading Merger and acquisition Issues of new shares Buying back own company shares Hostile takeover Taking and repaying bank loans Capitalism: a Closer Look

39 The stock market simulation in Capitalism

40 Game Scenarios as Interactive Case Studies Capitalism has taken business case study to a new level by putting the player into the role of CEO facing unique challenges in different scenarios. The student must apply the learned theoretical business knowledge into resolving difficulties, carry out changes as necessary, and execute business plans to meet the objectives.

41 The scenario A Full Lot

42 The scenario Meat Your Match

43 The scenario Bursting Bubble

44 posted an aggregate critic score of 82/100 and an aggregate user score of 9.1/10 for Capitalism 2.

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