Penn College Teams Place in Global Top 100 in Business Simulation
The Business Strategy Game is an international business simulation competition used not only in undergraduate capstone classes, but also in graduate classes and as a corporate-level training tool.
Students in Penn College’s Business Policy and Strategy course were tasked with running a virtual athletic footwear company. Participating teams from across the globe were ranked each week in four categories: overall game-to-date score, earnings per share, return on average equity and stock price.
In the week Oct. 12-18, the Penn College team of Jessie M. Chronister, a technology management student from Annville; John A. “Jack” Kumor, a technology management student from Jenkintown; Stacy A. Milheim, a business administration: management concentration student from Watsontown; and Tammy S. Ryder, a technology management student from Hughesville, tied at 49th among 4,578 teams in overall game-to-date score with 108.5 out of a maximum 110.
The team of business administration: banking and finance concentration students Eric K. Anderson, of Williamsport, and George A. Gadbois, from Rockville, Maryland; Haley J. Johnson, an accounting student from Selinsgrove; and Amanda N. Woolf, a business administration: management concentration student from Lititz, tied for 67th worldwide with an overall game-to-date score of 108.5 during the week Oct. 26-Nov. 1, when 4,980 teams were competing.
Through the Business Strategy Game, students manage every functional area of their virtual business.
“They make all decisions in areas such as production, plant capacity, worker compensation and training, shipping and inventory, pricing and marketing, celebrities and endorsements, corporate social responsibility, and finance,” explained Chip D. Baumgardner, associate professor of business administration/management, who instructed the Business Policy and Strategy course, a capstone class for Penn College business students. “Students develop a specific strategy to compete, which is in line with our strategic management course.”
The challenge is to craft and execute a competitive strategy that results in a respected brand image, keeps the company in contention for global market leadership and produces good financial performance.
“I tell students that they’ll face a steep learning curve in gaining acumen for the simulation. I utilize ‘tough love’ and make them learn their way through the simulation. So, credit goes to the students,” Baumgardner said. “It has been quite successful in that, since 2008, we’ve had 48 teams score in the top 100. The simulation has been mutually beneficial, as I was able to gain enough insight from the students so that I could present and publish a paper on the benefits of simulations.”
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Photos by Anna J. Cooper, marketing and communications specialist, School of Business & Hospitality