Today's learners multitask all day, every day. They don't have time for subject matter that they don't think is relevant to what their goals are. Think instant gratification. Penn State takes this into account when creating courses and lessons throughout the University.
Real-life simulations are a great way to engage today's learners while helping them to understand the value of the material being presented. One great example of this is the Trading Room in the Smeal College of Business at Penn State. The Trading Room includes real-time ticker data and stock boards, as well as the computer systems and software needed for simulated trading. Many business majors find themselves managing portfolios throughout the semester and interacting in situations that are similar to those found on an active trading floor.
Another hands-on simulation takes place in many supply chain, business, and executive education courses at Penn State. The Beer Game, created by a group of professors at MIT in the 1960's, simulates the supply chain of beer through the factory, distributor, wholesaler, and retailer stages. Students typically work in pairs with 8-12 people per supply chain. The groups at each stage must make sure to keep beer in stock without crowding the warehouse. The bullwhip effect takes place when orders spike or drop creating instability of the overall system. A debrief occurs at the end for students to formalize understanding of supply chains, business decisions, and outside influences on their positions.
For more information:
Smeal Trading Room
The Beer Game Simulation
Real-life simulations are a great way to engage today's learners while helping them to understand the value of the material being presented. One great example of this is the Trading Room in the Smeal College of Business at Penn State. The Trading Room includes real-time ticker data and stock boards, as well as the computer systems and software needed for simulated trading. Many business majors find themselves managing portfolios throughout the semester and interacting in situations that are similar to those found on an active trading floor.
Another hands-on simulation takes place in many supply chain, business, and executive education courses at Penn State. The Beer Game, created by a group of professors at MIT in the 1960's, simulates the supply chain of beer through the factory, distributor, wholesaler, and retailer stages. Students typically work in pairs with 8-12 people per supply chain. The groups at each stage must make sure to keep beer in stock without crowding the warehouse. The bullwhip effect takes place when orders spike or drop creating instability of the overall system. A debrief occurs at the end for students to formalize understanding of supply chains, business decisions, and outside influences on their positions.
For more information:
Smeal Trading Room
The Beer Game Simulation
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