This is a very common phrase heard in the corridors of Ivey as soon as the end of game is announced. Let me tell you more about this phenomenal experience called Business Simulation. This is an elective meant only for the brave at heart! It entails enormous amount of preparation, an action packed weekend of simulation and tons of fun!
For a day and a half, your team of six is entrusted with the responsibility of running a virtual company. You are to make decisions for each quarter, 45 minutes in simulation time, for every aspect of the business, from sales and marketing to finance and operations. But that’s not all. You need to regularly interact with the company’s stakeholders, role-played by our esteemed professors.
I had an awesome team going into the simulation. After pulling two all nighters, we had come up with a solid business plan and ingenious analytical models. However, preparation goes only so far. Companies don’t operate in bubbles and the ever-changing environment compels you to be adaptive and creative. You need to be aware of your internal capabilities and be constantly in touch with the external environment. Interestingly, this was one of our greatest learning- it is very easy to loose sight of either external or internal aspect and make some very stupid mistakes.
Experiential learning lasts the longest; I am proud to have participated in this intense and accelerated learning experience at Ivey. My team came in second but I bet you, had we had just two more quarters we would have surely pulled ahead!
After graduating from India’s top fashion institute, National Institute of Fashion Technology, Neha joined Lifestyle International, a high-end retail store in India. As a designer for an in-house apparel brand, she played an instrumental role in brand’s repositioning. At Ivey, she is the co-president of the analytics club and an active member of the consulting and Ivey connects clubs. She is an ardent reader and enjoys art.