PROGRESS: AN EXPERIENTIAL EXERCISE IN DEVELOPMENTAL MARKETING Developments in Business Simulation and Experiential Learning, Volume 26, 1999 PROGRESS: AN EXPERIENTIAL EXERCISE IN DEVELOPMENTAL MARKETING Hugh M. Cannon, Wayne State University Attila Yaprak, Wayne State University Irene Mokra, Wayne State University ABSTRACT The purpose of this game is to help students un- derstand the dynamic role free-market processes play in stimulating economic development. The game simulates a developing economy. Each of the students represents an independent economic entity, able to contribute labor, consume goods, and acquire wealth. It is played in periods, with each one representing a cycle of production and consumption. Students are free to act independ- ently, or to collaborate, to invest or save money, to innovate or produce conventional products. In the end, they are evaluated according to the wealth they create. More important, they experi- ence the combined effect of their decisions in creating wealth for society as a whole. INTRODUCTION The theory of free-market economics explains how countries develop naturally, if left to natural market forces. From the perspective of managers and policy makers who participate in this process, the effect of these forces is usually hard to see. And because it is hard to see, it is hard to act upon. Rather, the managers and policy makers tend to look to government intervention to facili- tate growth. While this often solves specific prob- lems – the investment or market needs of a spe- cific firm at a specific point in time – the overall effect is usually negative. Most commonly, it is to adopt a policy of export substitution, or the pro- tection of domestic industry with tariffs and other barriers to trade, thus creating a buffer against competition while industry develops. The problem with this approach is that import substitution tends to make domestic businesses less, rather than more, competitive. It takes away the natural market incentive to innovate and cre- ate higher quality, lower cost products to beat the competition. The barriers to trade necessitate higher prices for imports. This, in turn, enables domestic producers to charge higher prices as well. The apparent effect on domestic business, and the creation of jobs, is positive. Domestic companies make money, and people are em- ployed. But the actual effect is to depress the overall standard of living. The higher prices mean people pay more money for fewer products and services (Exhibit 1). Furthermore, in the long run, employment generally suffers as well, given the vital role innovation plays in creating new jobs. EXHIBIT 1 THE EFFECT OF IMPORT SUBSTITUTION ON THE QUANTITY OF GOODS AND SERVICES AVAILABLE One potential solution is education. If managers and policy makers truly understand how the free- market system operates, they are more likely to support free-market policies over those of import substitution. The question is how to educate man- agers and policy makers. As we have just pointed out, theory notwithstanding, simple logic and immediate experience seem to favor an import substitution policy. Domestic Economy with Import Substitution Domestic Economy with Conditions of Free Trade Fewer, high-priced products More, low-priced products High barriers to trade Low barriers to trade Global Econom y The purpose of this paper will be to describe an 265 Developments in Business Simulation and Experiential Learning, Volume 26, 1999 experiential exercise designed to teach the prin- ciples of free enterprise and market development. Following the logic articulated by Gentry (1990), the paper provides a process by which students can become much more involved in the concepts they are learning, thus internalizing them in more meaningful ways. It has the advantage of being “participative,” of providing “contact with the environment” and of combining “the processes of learning with the content of learning” (Hoover 1974). More to the point, it provides a method for providing a kind of synthetic experience, through which students get immediate feedback regarding the effects of their behavior (Lewin 1951; Wolfe and Byrne 1975; Kolb 1984). EXHIBIT 2 THE FEEDBACK EFFECT OF EXPERIENTIAL LEARNING As Exhibit 2 suggests, students operate within a simulated market environment in which they make decisions regarding how to use their re- sources. These will result in both personal and collective economic success, thus giving students immediate feedback regarding the effect of their behavior. Simulation is designed so that the feed- back they receive will parallel the effects of simi- lar actions in a real market environment. The purpose of this game is to help students un- derstand the dynamic role free-market processes play in stimulating economic development. The game simulates a developing economy. The stu- dents represent independent economic entities – laborers, entrepreneurs, merchants or whatever other role they choose to play. They are able to provide labor, acquire satisfaction by consuming goods, and acquire wealth with which they can purchase or produce goods in the future, just as they would in a real economy. The game is played in periods, which we might think of as years. Each one represents a cycle of production and consumption. They offer check points at which to evaluate student progress. They also simulate the passage of time, through which the economy evolves from a primitive to an eco- nomically advanced state of development. Most important, the nature and speed of eco- nomic development depends on the way students play the game. They are free to act independently or to collaborate, to innovate or produce conven- tional products, to invest or save money, to con- sume or forego consumption in anticipation of fu- ture gains. As with a real economy, they stand to gain from the development of collaborative en- terprises, evoking economies of scale and the use of capital to increase productivity. These gains will be reflected both in personal wealth and the overall development of society. The fact that stu- dents must make the proper decisions and ob- serve the related consequences is what provides the feedback mechanism illustrated in Exhibit 2. Sim ulated m arket environm ent Decisions Feedback Simulated market activities Simulated market activities • Individual success • Economic growth OBJECTIVES OF THE GAME From the students’ perspective, the objective of the game is to maximize personal satisfaction, achieved in this game by consuming goods. By making game decisions in pursuit of this objec- tive, students should come to understand and ap- preciate: The process through which a society creates wealth. The trade-off between consumption and in- vestment decisions. 266 Developments in Business Simulation and Experiential Learning, Volume 26, 1999 How economies of scale and the application of capital contribute to wealth. How development tends to be synergistic (a non-zero-sum game). The nature and importance of collaborative competition in a free market economy. The role of labor, capital, and entrepreneurial effort in economic development. By making relatively small modifications in the game, it can be made to address other issues as well. For instance, one might introduce a gov- ernmental component to illustrate the positive and negative impact of various types of government intervention. Or, the objectives can be modified to include the creation of wealth as consumption as a criterion of success. This would place more weight on the intrinsic rewards coming from the process of economic activity as opposed to treat- ing economic activity as simply a means to an end. These are only two of many possible varia- tions. However, this paper will focus on the basic game, designed to address the objectives shown above. DESCRIPTION OF THE GAME As noted above, the game simulates a market place in which players use or sell labor and prod- ucts in an effort to create wealth, and ultimately, create satisfaction through the consumption of products. The game is played in a series of peri- ods, each representing a cycle of production and consumption. In order to distinguish between satisfaction and wealth, satisfaction will be measured in sats. Wealth will be measured in money, or credits. The two are interchangeable in the sense that a player can use credits to buy products, which can then be consumed to acquire sats. However, cred- its have no intrinsic value. That is, players are not rewarded for acquiring credits, just sats. Con- versely, sats only have intrinsic value. While they are the measure of success in the game, they can- not be spent, invested or transferred to another player. Playing the Game The actual play of the game consists of a series of transactions. These vehicles through which these are recorded is the transaction log. Exhibit 3 pro- vides a sample log for a hypothetical player, N01. The log illustrates how the game is played. EXHIBIT 3 SAMPLE TRANSACTION LOG FOR PLAYER N01 Exchange Partner Machines Labor Product Product Balance Credits Sats Pe ri od C ha ng e B al an ce C ha ng e B al an ce C ha ng e A B C D E C ha ng e B al an ce C ha ng e B al an ce 1 1 0 0 0 0 0 1 N15 +1 2 0 0 0 0 0 -15 (15) 1 N21 +1 3 0 0 0 0 0 -15 (30) 1 N23 +1 4 0 0 0 0 0 -20 (50) 1 Prod -4 0 +A16 16 0 0 0 0 0 1 N02 0 -A10 6 0 0 0 0 +120 70 1 Bank -A05 1 +50 125 1 Cons 0 -A01 0 0 0 0 0 +10 10 2 New +1 1 125 2 Mach +1 1 -150 (25) 2 N15 1 +2 3 0 0 0 0 0 -20 (45) 267 Developments in Business Simulation and Experiential Learning, Volume 26, 1999 2 N21 1 +1 4 0 0 0 0 0 -20 (65) 2 N23 1 +1 5 0 0 0 0 0 -20 (85) 2 Prod 1 -5 0 +A20 20 0 0 0 0 2 N02 1 0 -A15 5 0 0 0 0 +195 110 2 N02 1 0 +B01 5 1 0 0 0 -20 90 2 N02 1 0 +C01 5 1 1 0 0 -20 70 2 N05 1 0 +D02 5 1 1 1 0 -20 50 2 N05 1 0 +E02 5 1 1 1 1 -20 30 2 N05 1 0 -A04 4 1 1 1 1 +40 70 2 Cons 1 0 0 0 0 0 0 70 +70 80 3 1 +1 1 70 80 1. Maintaining the Transaction Log. The basic organizational tool is each player’s transac- tion log (Exhibit 1). The log records all trans- actions, ONE PER LINE. Specifically, the log includes the following information: Period refers to the period in which the transaction takes place. Exchange Partner refers to the player (if any) with whom the transaction takes place. (Note that all players will have a name: N01, N02, N03, etc.). In the exam- ple, during period 1, player N1 engaged in transactions with players N15, N21, N23, and N02. The log also shows “new” to sig- nal a new period, “prod” (exchange of la- bor for production), “cons” (exchange of products for sats), “bank” (redemption of products for credits), and “mach” (ex- change of credits for a machine). Machines enable a player to increase the efficiency of a unit of labor. Each machine costs 150 credits and doubles the effective- ness of exactly one unit of labor each pe- riod. For instance, owning a machine at the beginning of a period means that the player begins with two rather than one unit of la- bor. In Exhibit 1, Player N01 purchased a machine at the beginning of period 2, thus increasing the value of the labor purchased from Player N15 from 1 to 2 units. If a player has more machines than labor, more than one machine can be associated with each labor unit. Two machines make one unit of labor the equivalent of three, three the equivalent of four, and so forth. Labor refers to the balance of available la- bor and (if this is a labor transaction) the amount of labor used or received. In the example, player N1 purchased labor from players N15, N21, and N23. Product refers to the balance of available products (A, B, C, D and E) and (if the transaction involves products) the amount used or received. In the example, player N01 uses its four units of labor to produce 16 units of Product A. The amount of product that can be produced with four units of labor is shown in Exhibit 4. EXHIBIT 4 PRODUCTION VOLUME FOR DIFFERENT LEVELS OF LABOR INPUT Labor Production* Labor Production 1 1 6 23 2 4 7 25 3 9 8 26 4 16 9 27 5 20 10 28 *These economies of scale only apply to production of multiple units of the same type of product (e.g. two units of labor can product four units of A or four units of B, but not one unit of A and one unit of B). 268 Developments in Business Simulation and Experiential Learning, Volume 26, 1999 Credits refer to the balance of available credits (money) and (if the transaction in- volves credits) the amount used or re- ceived. In the example shown in Exhibit 3, player N01 purchases labor from players N15, N21, and N23 for 15 credits for the first two units, and 20 credits the last, in period 1. She sells the 15 units of Product A for 5 credits each, or a total of 75 cred- its. 2. Creating Labor. All players will receive one unit of labor each period, which they may use or sell. IT MAY NOT BE STORED. If not used in the period received, it will have no residual value. To sell it, they must enter it in a transaction log for both buyer and seller, along with the corresponding transfer of credits. To use it for production, the use and resulting products should be indicated in the transaction log. 3. Creating Credits. Players have an unlimited line of bank credit. That is, they may borrow any amount they wish to finance their opera- tions, providing they pay off their loans by the end of any period. They may pay off their loans with credits received from other play- ers, or they may create money by exchanging products for credits. The exchange rate is fixed at 10 credits per unit, regardless of its type (A, B, C, D, or E). Players may ex- change as many units as they wish at this rate. 4. Consuming Products. Consuming products is how players create utility, or satisfaction (sats). Exhibit 5 shows the sats consumers derive from consuming different kinds of products. Note that consuming multiple units of the same kind of product yields lower util- ity than a variety of products. This creates an opportunity for marketers to create value through the development of product assort- ments. EXHIBIT 5 CONSUMPTION VALUES Single Type Combination Double Com- binations Triple Com- binations Quadruple Combinations Units1 Sats Units2 Sats Units3* Sats Units4* Sats Units5* Sats 1 10 2 25 2 45 2 55 2 60 2 15 3 40 3 70 3 85 3 93 3 18 4 55 4 95 4 115 4 125 4 20 5 70 5 120 5 145 5 158 1Units refer to mul- tiple units of the same product. 2Units refer to combinations of different products (e.g. A+B, A+B+C, etc.). 3Units refer to pairs of the combi- nations shown in the chart to the left of this one. 4Units refer to three of the com- binations shown in the chart to the left of this one. 5Units refer to four of the com- binations shown in the chart to the left of this one. 5. Determining the number of periods of play. Theoretically, the game could continue in- definitely. In practice, it will be limited by the setting in which it is used. For instance, in a typical 15-week semester, the game might continue for 10 rounds. This would provide time in the beginning of the class to introduce the game, perhaps with a period in which to practice. It would also provide a pe- riod to debrief, once the game is finished 6. “Winning” the Game. There are no “win- ners” and “losers” in the game in the com- petitive sense. This is critical to the concept. All the players seek to maximize their per- sonal satisfaction, as measured by the total number of sats acquired. This is not a “zero- sum” game. Indeed, when players act com- petitively, in the “zero-sum” sense of the word, everybody tends to do more poorly. The notion of a non-zero-sum game is critical 269 Developments in Business Simulation and Experiential Learning, Volume 26, 1999 to student learning, because a “zero-sum” mentality is one of the major barriers to eco- nomic development. From a very practical perspective, the best way to manage “winning” is to evaluate players on the way they play rather than the actual results. The game administrator can often evaluate the quality of play by reviewing the actual deci- sions once the game is over. The administrator can evaluate the overall re- sults of the game by comparing it to perform- ance norms developed over a number of games. Because they are potentially sensitive to the number of students playing the game, game administrators should take care to record the ac- tual conditions under which each game is played. DISCUSSION If the game truly simulates the natural devel- opment of free-market economies, the evolu- tion of students’ activities across periods should follow the same kind of pattern we see in real life. This, in turn, should set the stage for dis- cussing the principles behind this development. The purpose of this section will be to discuss some of the general principles illustrated in the game, offering them as a basis for teaching ma- terial. Robert Keith (1960) provides a useful starting point with his insightful analysis of how the marketing function evolved at Pillsbury Com- pany. Cannon and Yaprak (1998) elaborate on Keith’s work, providing a much richer theoreti- cal analysis of the principles implicit in his dis- cussion. They summarize them in Exhibit 6. The first two columns describe the typical evo- lution of marketing in developing economies in general. The third explains the kind of player response that tends to be most successful in the corresponding stages of development in the game. The Production Era In the beginning, none of the players have much money, so the emphasis is on low-cost, mass production. This is achievable in the game, providing players are willing to sell their labor to other players who specialize in manu- facturing the various products, and providing there is a market for the products once they have been produced. This creates a natural need for the development of wholesalers to buy products and distribute them in the desired as- sortments to the people who need them. This is essentially what happened in America during Pillsbury’s “production era.” Large mills could produce large amounts of low-cost flour, but they depended on wholesalers who were famil- iar with the shipping and rail schedules, and who had contacts with large numbers of retail outlets. In the simulation, students will generally dis- cover the advantage of low-cost manufacturing, but they often miss the importance of wholesal- ers. The game progresses much more quickly if students establish a wholesale structure – play- ers that specialize in buying and selling prod- ucts -- to facilitate distribution. In Exhibit 3, Player N02 appears to have established himself as a wholesaler. One useful teaching technique is to point out the importance of the wholesale function and let students experiment with using it. The Sales Era The “production era” passes when supply catches up with demand, and competition be- gins to drive prices downward. Exhibit 7 illus- trates why this happens. Companies that de- velop low-cost products early in the game tend to enjoy high “economic profits,” due to the relative lack of competition. This leaves the market in a state of disequilibrium, where other companies will see an advantage in producing basic products. As companies begin to copy the successful production strategies, market alter 270 Developments in Business Simulation and Experiential Learning, Volume 26, 1999 natives make demand more elastic and drive the market toward equilibrium. EXHIBIT 6 STAGES OF ECONOMIC DEVELOPMENT Era's Defining Characteristics Key Market Needs Successful Game Strategies Production Era. Rapid urbaniza- tion or transition to a free market has created a large working class with relatively low income. ♦ ♦ ♦ ♦ Low-cost manufacturing Effective wholesale distribution Purchase labor to develop economies of scale Buy and resell products Sales Era. Saturation of basic need for commodities. ♦ Product differentiation based on quality, variety, and convenience ♦ Exploit product and/or pur- chasing advantages to create "combination" products Marketing Era. Saturation of dif- ferentiated mass-market products. ♦ ♦ Market segmentation based on specialized customer orientation Focus resources to develop advantages in specialized products Marketing Control Era. Saturation of segment-related needs. ♦ ♦ ♦ Service of customer need as- sortments through relationship marketing Establish efficient production for "families" of products Establish efficient customer relationships The relatively low “normal” profits available during equilibrium drive companies to look for new, less competitive marketing opportunities. In practice, this tends to take the form of prod- uct differentiation (Smith 1956), an appeal to the mass market, based on differences in qual- ity, variety and convenience. This, in turn, throws the market back into a state of disequi- librium. In the game, differentiation takes the form of products that consist of combinations of differ- ent basic products. These offer greater value to consumers (see Exhibit 5). Of course, with good distribution, players can create these products for themselves by simply buying or producing and combining individual products. To sell “differentiated” products, companies must be able to draw on production advantages or better sources of supply to offer “ready- made” combinations at competitive prices. Again, this strategy might not be obvious to students early in the game. However, once it has been pointed out, they tend to react quickly by packaging products that capitalize on their relative strengths and market opportunities driven by students’ desire to accumulate more sats for their expenditures of credits. The Marketing Era Just as competition drives the market from the production era to the sales era, competition also drives the market from the sales to the marketing era. Again, Exhibit 7 describes the mechanism. While product differentiation tends to be very profitable, its profitability tends to draw competition, thus moving the market back toward equilibrium. Eventually, the competi- tion becomes sufficient to drive marketers in search of another, disequilibriating strategy. The strategy is market segmentation – focusing on a smaller, more specialized market in which the marketer can again achieve a market advan- tage. A similar pattern can be applied to the simu- lated environment of the game. While “combi- nation” products initially prove highly profit- able, as competition increases, price competi- tion tends to drive down prices and narrow the margins. While some players will be able to make money in the “combination market,” oth- ers will be forced to specialize in single- or dual-product combinations in order to focus their resources. The Marketing Control Era The process of market saturation and innova- 271 Developments in Business Simulation and Experiential Learning, Volume 26, 1999 tion – equilibrium and disequilibrium – shown in Exhibit 7 is an on-going continual theme. Just as the mass market becomes saturated with differentiated products, so segments will also become saturated as market development con- tinues. In the marketing control era, not only do the segments fill up with product alterna- tives, but the speed with which competition re- sponds tends to accelerate, shortening product life cycles and driving more and more products into the maturity stage of their product life cy- cles. Consumers become more sophisticated, and hence, more demanding, thus intensifying the competition. EXHIBIT 7 THE ROLE OF MARKETING IN MARKET EVOLUTION virtually all the major competitors will be able to offer equivalent products at equivalent prices. In this environment, customers have no incentive to change suppliers except to achieve relatively small, short-term advantages. The benefits of these tend to be outweighed by in- creased transaction costs -- the costs of realign- ing the buying process to take advantage of promotional deals. This too has an analog in the game environ- ment. A critical strategy for success would be to build an organization with highly efficient sources of production/supply and similarly effi- cient customer arrangements. As the game pro- gresses, we would expect labor to become rela- tively more expensive, being bid up by the pro- duction needs of a small number of highly effi- cient manufacturers. The high wages will create an on-going market for sats-producing prod-The equilibriating effects of m arket In response to this situation, firms in the mar- keting control era shift their focus from ad- dressing specialized customer needs to develop- ing systems for efficiency addressing groups of customer needs. Robert Keith referred to it as the “control era” because of the need to control the scope of marketing activities to address ar- eas of the market in which the company could maintain a unique competitive advantage. Price competition becomes so keen that only the most efficient marketers can survive. One of the key elements of market efficiency is to develop sophisticated systems of relationship marketing as well as production planning. When the market becomes sufficiently mature, ucts. Building stable relationships tends to fa- cilitate the purchase of labor and component products, the sale of “combination” product as- sortments, and the purchase of labor. The disequilibriating effects of m arketing innovation evolution ���������������� ���������������� AR MR MC AC AR= MR MC AC P Q Q P A B “N o rm a l” p ro fits “E c o n o m ic ” p ro fi t s Again, students may take some time to discover this themselves. Using it as a basis for discus- sion can accelerate the progress of development within the game environment. More important, of course, is the fact that it helps students un- derstand the underlying principle behind the game – a principle that was designed to mirror marketing reality. SUMMARY AND CONCLUSIONS Progress is a prototype game. It needs an on- going program of testing to determine whether it truly works in the manner discussed in this paper. The promise, however, is exciting. While the game is very simple, it provides a powerful way to teach principles that are diffi- cult to appreciate when presented through con- ventional, non-experiential methods. The game promises two other potential bene- fits: First, as we intimated earlier, it can be eas- ily modified to simulate other economic effects. 272 Developments in Business Simulation and Experiential Learning, Volume 26, 1999 These include government regulations, taxes, financial markets, multiple player objectives, among others. For instance, the simple addition of posted rankings of accumulated sats and/or credits would change the intensity with which students are likely to pursue satisfaction and/or wealth. Providing a group a few elected “legis- lators” would provide a rich laboratory for ex- ploring the potential strengths and weaknesses of government activity. This leads to the second promise: Not only is the game a laboratory for students, but it can also serve as a research laboratory for exploring how people respond to different types of eco- nomic stimuli. For instance, how do cultural norms affect economic development? What ef- fect does education have – both educational level and specific teaching interventions? What kinds of government interventions are most likely to stimulate economic development? These are all important topics in marketing and economic development. The game promises to create an important new source of relatively in- expensive data. REFERENCES Cannon, H. M. & Yaprak, A. (1998). Marketing and Economic Development: Implications for Emerging Economies. Paper presented to the Consortium for International Marketing Re- search Conference on Globalization, The In- ternational Firm and Emerging Economies, Izmir, Turkey, May. Gentry, J. W. (1990). What is Experiential Learning? In James W. Gentry (ed.), Guide to Business Gaming and Experiential Learn- ing. East Brunswick: Nichols/GP Publishing, pp. 9-20. Hoover, J. D. (1974). Experiential Learning: Conceptualization and Definition. Simula- tion, Games and Experiential Techniques: On the Road to a New Frontier, James Kenderdine and Bernard Keys (eds.), 31-35. Keith, R. J. (1960). The Marketing Revolution, reprinted from the Journal of Marketing, January 1960, 35-38. Kolb, D. A. (1984). Experiential Learning: Ex- perience as the Source of Learning and De- velopment. Englewood Cliffs, NJ: Prentice- Hall. Lewin, K. (1951). Field Theory in the Social Sciences. New York: Harper & Row. Smith, W. R. (1956). "Product Differentiation and Market Segmentation as Alternative Marketing Strategies," Journal of Marketing (July), 3-8. 273 Table of Contents Volume 26, 1999 ABSEL's Historical Research Interests Back From the Future: An ABSEL Merlin Exercise for the Year 2005 The Contributions of ABSEL During the 1980's ABSEL's Contributions to Experiential Exercises in the 90's ABSEL's Contributions to Experiential learning/Experiential Exercises: The Decade of the 1970's Business Simulations - Algorithms and Model Enhancements: A 25 year Review A Study of the ETS General Field Test as an AACSB Assessment Tool and the Impact of Experiential Exercises and Simulation on Learning A Framework for Assessing the Competencies Reflected in Simulation Performance Developing A Learning Culture: Assessing Changes in Student Performance and Perception Financial Simulation Using Distributed Computing Technology Analyzing Managers' Judgements and Decisions with an Educational Business Simulation Understanding Your Business through Home-Made Simulator Development An Examination of a Reanalysis of the Impact of a Market Leader on Simulation Competitors' Strategies Applying Shocks to TE Simulations: A Demonstration Increasing Efficiency of Management Skill Assessment A Testbank for Measuring Total Enterprise Simulation Learning Developing Leadership Skills - Video Live! LEADSIMM: Collaborative Leadership Development for the Knowledge Society A Team Approach to Producing Multi-Media Laptop and Video Formatted Presentation Tinkertoys Revisited: Exploring Trust Based Relationships Overall Dominance in Total Enterprise Simulation Performance Success or Bankruptcy: The Relationship between Personal and Goal Orientation and Simulation Performance Assessing the Effects of Feedback: Muti-method and Muti-directions in Multi-pedagogical Courses The Missing Ingredients in Experiential Learning Purpose and Learning Benefits of Business Simulations: A Design and Development Perspective Building Capabilities for Change through Laboratory Simulations Modeling Innovation as a Process of Design in Educational Business Simulation The Need to Measurer variance in Experiential Learning and a New Statistic to do so Assessing Effectiveness of an Experiential Oriented Course Over Time Developing Participant Satisfaction Models of Experiential Exercises in Business Education Perceptions of Learning in TE Simulations Students' View on the Use of Business Gaming in Hong Kong Management Gaming's Lost Opportunity: Meditations about the Russian Experience and Prospects for the Future Unanticipated Enhancements in the Business Strategy and Policy Game when Running in Windows 95 Using a Business Game to Demonstrate Broad Business Concepts A New Model for Business Courses (Getting the Student Connected) Seeing the Forest and the Trees: Integrating Knowledge Using Large Scale Simulations in Capstone Business Strategy Classes Is It Here To Stay? A Roundtable Discussion of the Inter-Group Interaction Interactive Tools Used in Applying Financial Concepts Strengthening Essential Skills through a Finance Exercise: Calculation of Beta A Model of Currency Exchange Rates Understanding Currency Exchange Rates: A three-part Exercise Student Experiences in the World Intercollegiate Business Game Competition Student Experiences in the International-Collegiate Business Policy Game Competition Using Boards of Directors in Simulation Environments: Comments From Board Members Sharing Best Practices: Teaching Smarter, Not Harder Star Power: A Simulation for Understanding Power and Empowerment The Marketing Game: A Marketing Principles Simulation Alexander Islands: GSSM Tiny Business Simulator on the WWW Putting Strategy into Strategic Business Games Industry Analysis, Porter's Five Forces Model and Strategic Group Maps in the Business Strategy Game Simulation The Use of Concept Mapping to Improve Student Performance and Understanding of Strategic Management Concepts: A Comparison of Techniques Transformational thinking in the Organizational Behavior Course: The Use of Metaphor as an Assessment Tool Creation of a Virtual Learning Community for the Global Virtual Enterprise Project Inter Institutional use of Educational Resources: Joint Use of Management Simulation Games Business Insights: Theory and Practice with the Aid of a Business Simulation Progress: An Experiential Exercise in Development Marketing The ABC's of teaching the Theory of Constraints to Undergraduate Business Students Demonstrating Principles of Organizational Purchasing Behavior through an Experiential Exercise The Virtual Manager: A Different Simulation for Managing Complexity When the Rules are changing and Chaos Breeds Innovation: Recapturing the Value of Constructive Thinking and Play in Simulation Training The Pitfalls, and Potential, of Actual Events as Problem Drivers Using Business Games to teach Environmental Awareness and Green Management: The International Experience with the ENSIM Game A Review of my ABSEL-Related Work Simulation of Government: A Workshop Using GEO Creating Internet-Based Games Using Perl and JavaScript Who's on First? Exploring the Concepts of Problem-Based Learning, Experiential Learning, and Lifelong Learning Students Learn Customer Service and Selling while Conducting Research So You Want to Run an NFL Football Team–An Honors Interdisciplinary Project Supervised Internship: The Employer's Perspective Using Computer Assisted Simulation to Teach International Business Strategy: A Case of the Multinational Management Game (MMG) Multi-Cultural Experiential Learning: A Computer Simulation in China An Appreciative Stance on Diversity as We Move into the 21st Century: A Timeline Exercise to Identify Key Experiences in Good Work Relationships between Black and White Peers A Day in the Life of an Interactive, Real Time, and Internet Delivered Course: A Demonstration Comparing Internet Search Engines: An Experiential Learning Exercise Total Enterprise Simulations and the Internet: Assessing Student Perceptions and Preferences Teaching Accounting Information Systems in a Practicum Format Providing Experiential Learning in Accounting through a Field Study Payroll Project A Spreadsheet Based Business Simulation Game Computer-Behavioral Simulations Training for Project Managers Simulation Scenarios - Rationale and Illustration