The use of simulations in marketing management education: a value generation model
The use of simulations in marketing management education: a value generation model
The article addresses the educational validity of business simulations used in management education. Considering the research frameworks proposed by previous studies, an educational value generation model is developed and validated for the specific case of the Markstrat simulation, using primary data collected from 305 UK-based students. Three types of generated educational values are identified: experimentation/experience with strategic marketing, understanding of relevant concepts, and the development of skills applicable in real-life professional situations. In addition, the model includes a fourth factor, related with the overall impression of participants regarding the simulation exercise. The application of structural equation modelling indicates several significant relationships; experimentation/experience has a strong impact on conceptual understanding value, and both of them have medium to high direct impacts on professional skills development. On the other hand, participants’ perception about the professional skills developed during simulation determines their overall impression and satisfaction regarding this pedagogical exercise
Ranchhod, Ashok
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Loukis, Euripides
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Trivedi, Rohit
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Gurau, Calin
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Ranchhod, Ashok
4502275c-3dca-4c29-a2cb-3a0356e4de0e
Loukis, Euripides
7e76a3de-22fa-4c58-a287-da2f23640a2e
Trivedi, Rohit
3f8d454d-bd56-486c-b673-5fa7194f615f
Gurau, Calin
e1871244-6761-4f2a-9b24-a9397bb4a0ff
Ranchhod, Ashok, Loukis, Euripides, Trivedi, Rohit and Gurau, Calin
(2012)
The use of simulations in marketing management education: a value generation model.
Journal of Management Education.
(Submitted)
Abstract
The article addresses the educational validity of business simulations used in management education. Considering the research frameworks proposed by previous studies, an educational value generation model is developed and validated for the specific case of the Markstrat simulation, using primary data collected from 305 UK-based students. Three types of generated educational values are identified: experimentation/experience with strategic marketing, understanding of relevant concepts, and the development of skills applicable in real-life professional situations. In addition, the model includes a fourth factor, related with the overall impression of participants regarding the simulation exercise. The application of structural equation modelling indicates several significant relationships; experimentation/experience has a strong impact on conceptual understanding value, and both of them have medium to high direct impacts on professional skills development. On the other hand, participants’ perception about the professional skills developed during simulation determines their overall impression and satisfaction regarding this pedagogical exercise
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Submitted date: 10 May 2012
Organisations:
Strategy, Innovation & Entrepreneurship
Identifiers
Local EPrints ID: 338385
URI: http://eprints.soton.ac.uk/id/eprint/338385
ISSN: 1052-5629
PURE UUID: d1479e20-262c-4ed3-93ef-d35ff3ed2734
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Date deposited: 16 May 2012 13:24
Last modified: 14 Mar 2024 11:04
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Contributors
Author:
Ashok Ranchhod
Author:
Euripides Loukis
Author:
Rohit Trivedi
Author:
Calin Gurau
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