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Foundation Business Simulation encourages MUM students to put their education to practice
by Global Good News staff writer
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4 September 2012
'There are a lot of really good things happening in the MBA programme at Maharishi University of Management,' said Dr Andrew Bargerstock, director of MBA programmes* for the university.
In particular, he spoke about the MBA in Accounting's recent success in the Foundation Business Simulation Experience, a continent-wide competition created by Capsim, a Chicago-based company.
According to their website, '[Capsim's] programs create rich learning experiences that give participants, whether in an academic or corporate setting, the opportunity to practice the skills and build the business acumen that are behind today's successful companies. More than 550,000 participants at 500 schools and corporations have built their business acumen through Capsim learning experiences.'
The entire MBA in Accounting class participated in the simulation because, as Professor Bargerstock said, 'This type of experience gives [students] the opportunity to practise decision making in an environment of uncertainty.'
The premise of the Foundation Business Simulation Experience is as follows:
A monopoly has been broken up into six equal companies. Each company has the same balance sheet and market shares. Through a series of decision rounds, each round equaling one year, the students have the opportunity to determine how they can position themselves with their products, their marketing, and financing strategies so they can take market shares away from the other companies and become highly profitable themselves.
Professor Bargerstock said that this competition really allows the students to utilize and integrate every aspect of their education.
'Through this Foundation Simulation, our MBA Accounting students get the opportunity to experience what it is like to be part of an executive management team that requires them to utilize everything they learned in their MBA programme. They need to know something about accounting, finance, human resource management, operations management, production, total quality management; a whole variety of courses that they would take as an MBA are suddenly coming alive again.'
* Among other special features of the unique approach to MBA education at MUM, students learn the most widely practised, extensively researched, and most effective method of self-development in the world. All students practise the simple, natural technique of Transcendental Meditation each day to improve learning ability, optimize brain functioning, and reduce stress.
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