JBC Press Releases
January 16, 2015
JBC Students Earn Top Ranking in Simulated Business Strategy
Jamestown, N.Y.— Business students at Jamestown Business College (JBC) recently earned a Global Top 25 ranking for their strategic business decisions in the Business Strategy Game (BSG) simulation. The game's founders, Art Thompson, Greg Stappenbeck, and Mark Reidenbach sent students and their instructor, Joseph Pillittere, a congratulatory letter informing them of this accomplishment.
During the week of January 5 through January 11, 2015, JBC Business students Seth, Cory, Sarah, Brandi, and Tim tied for 6th best Overall Score worldwide. In addition, they had top scores worldwide for their Return on Equity and Stock Price.
Through the BSG simulation, Business students at JBC operate an athletic footwear company that produces and markets both branded and private-label footwear. This simulation provides an integrative experience in applying the knowledge and skills developed in prior coursework within the functional business areas. In the simulation, students are required to apply concepts from management, accounting, operations, marketing, economics, and finance.
Students not only compete head-to-head against footwear companies run by other members of the class, they also compete with other students worldwide. Each company competes in a global market arena, selling in four geographic regions—Europe-Africa, North America, Asia-Pacific, and Latin America. The management of each company is approached from an interdisciplinary approach, focusing on the development and implementation of students’ business models and strategic plans to meet and/or exceed shareholder expectations...and their own!
This business simulation is based on real-world attributes and tests students' knowledge and critical thinking skills. Each team must meet shareholder expectations and goals each year by navigating through a variety of decision-making opportunities. As each team competes against one another, the simulation changes to create a more realistic experience for students. It is this realistic uncertainty that makes the simulation challenging, thought-provoking, and fun!
"The simulation provided several decisions and changing variables which mimicked a real company,” Tim said. “The simulation allowed us to make mistakes without any ‘real’ harm to shareholders, employees, or the environment. It's an excellent teaching tool that allowed me to use what I've learned throughout my time here at JBC. I can take what I've learned through this simulation and practice it in the real world."
Seth Boardman reiterated Snavley's sentiments, stating: "I liked working as co-managers in sharing the responsibilities in decision-making, strategic planning, business model development, and production. Each member was able to contribute their knowledge, past experience, and expertise while working together to achieve a competitive advantage over rivals both in the classroom and globally."
Each company’s performance is based on a balanced scorecard that includes brand image, earnings per share, return on equity investment, stock price appreciation, and credit rating. Students must enhance performance and build a competitive advantage by beating their competitors in a variety of business decisions, such as offering more attractive pricing, larger selection, more appealing styling and quality, greater advertising, and even hiring celebrities to endorse its brand.
Jamestown Business College offers business-focused Associate and Bachelor degrees and certificate programs that include targeted professional development activities. For more information on registering for these programs, call 664-5100 or visit us online at www.JamestownBusinessCollege.edu.
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