Category — Business Programs

Ink and paper is so 20th century. New MBA and undergraduate business students are accustomed to living, working, and socializing online. Because they’ve grown up on computer games it’s a logical progression for business schools to incorporate computer-based simulations into the curriculum.

Business education is catching up with simulated business models where students get to apply classroom learning to a set of real world variables. With virtual workplace scenarios and computer-based simulations, students practice choices they’ll have to make in the real world. By some estimates, more than half the business schools accredited by AACSB are using online business simulations.

What’s a Business Simulation?

The case study has long been used in business school to simulate real business situations and illicit practical responses from students. Online simulations allow students to oversee operations management of a virtual factory and network with other executives. They apply theory to a virtual workplace. The game aspect of business simulations stimulate even more competition among students. And what’s B-School without some cutthrouat competition?

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As the world’s largest corporation, Wal-Mart is famous for the influence they have over their vendors. And if you’re going to work for a Wal-Mart supplier, you need skills. Solid understanding of the retail business and cutting edge data analysis skills are required. And who better to school you? Smiley himself.

High Tech Retail Requires Special Skills

Wal-Mart suppliers use sophisticated software programs to access to sales data online in real time. Suppliers need account reps who can make constant decisions about the information they receive. Under-performing sellers must be replaced with new items based on the numbers.

Basic category management skills for Wal-Mart suppliers include the ability to work with software programs like RetailLink and ProSpace as well as the analytical skills to use the date received. Students use technology to optimize allocation of products, identify inventory problems, design displays, and instantly see the effects of changes.

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Managing the bottom line increasingly means meeting the demand for environmentally and socially beneficial business practices. Tomorrow’s leaders face the constant challenge of creating a balancing between business objectives with environmental and social goals. Save the world and make money while you’re at it.

Business schools are stepping up to the challenge with new curriculum on everything from self-regulation to sustainable distribution methods. While some companies must maneuver regulations to reduce environmental impact, others can use concern over the environment as an opportunity to increase revenues and/or cut costs.

It’s Not All Environmental
In the past, non-profit organizations and governments addressed unmet human needs. However, business is increasingly called upon to cooperate in finding more effective, efficient, and sustainable solutions. These changing roles are redefining business education.

Even financial markets are changing as interest in social investing grows. Concerns over globalization and climate change are challenging ideas that social and environmental concerns are always subordinate to financial goals.

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Guest article by Robert Grayson

Why channel your energies into a business education? In today’s competitive employment climate, it all comes down to marketability. A business education is practical, durable, and portable. It’s what you bring to the table. It’s your opening credential.

Remember when high schools divided students into the college prep program (those going on to higher education) and the business program (those who weren’t going to college and were going to find a job right out of high school)? Well, having a high school diploma just doesn’t cut it anymore in the business world. Employers want you to hit the ground running; they don’t want to have to train you. For the young business executive, a business education is basic training.

No doubt about it, a degree in business gives you a leg up in today’s workplace. And that’s a good hedge against recession.

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