Last Updated 28 Jan 2021

Learning Outcome on CEISM

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International Business has always been one of my favorite classes since I initially went study abroad in Florence, Italy in the summer of 2009. However, I must admit I was not too ecstatic when I first heard there was another simulation game in this course. After learning more about the game, I realized this simulation game was quite different than the ones I have played in the past. The business simulation game (CESIM) in my opinion was a great way to interactively learn about business operations, while also learning international business methods.

This simulation game was very challenging, yet entertaining to operate. I will be going through some of the things I have learned and found helpful throughout the CESIM simulation. Compared to the other simulation games, there are a few main reasons why I enjoyed CESIM. One main reason I enjoyed CESIM is based on the fact that each team member is allowed to make his or her own decisions, while cooperating with the group to achieve the best decisions for the company.

While working as a group, I began to learn each team member’s background, as well as the strengths and weaknesses we acquire as at team. After developing relationships and learning each other’s skills, I began to learn more about teamwork and how to operate a company as a team just like in most work-related situation. On the business side, as a young professional, I found that CESIM gave me a real look at how to financially manage a company and its investments from a leader’s point of view. I realize that this game required motivation, preparation, and discipline within a team.

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Being an independent insurance agent, I didn’t fully understand the specific skills that are most valued by companies and employers, such as leadership, problem-solving, decision-making, strategic planning, etc. CESIM has allowed me to enhance these skills and capacities in a way to improve performance within an operation. Research and development costs can be applied to all organizations, but in different aspects. Most companies research new tools and technologies to provide better performance capabilities, to have a competitive advantage over competitors, and to satisfy customers.

What I have learned through this game is that you want to always make sure there is a fine balance in a company’s investment to help succeed through competition. If there is too much investment, the company will drown in debt and it will be too hard to rise back to the top; if there is too little investment, the company will stay behind the curve, which will be just as hard to catch up. I learned that our company invested in too much R&D at the beginning, and we did not have enough time to catch up to our competitors, which hurt us for the rest of the entire game.

Another aspect I enjoyed in CESIM is how each team is allowed to manage a simulated company internationally in a safe, risk-free environment. By interacting internationally, I learned to focus on the financial analysis differently according to the different countries and cultures. I learned how much international pricing and cost structure, including foreign exchange rates and currencies, affect international business tremendously. Now, there are a few aspects of the game that I did not enjoy, but learned a lot from. Logistics including tariffs, trade, and taxes were a bit difficult and intimidating for our team.

I learned that efficiencies in logistics is very effective in supporting technology and satisfying the customer needs for a competitive advantage in domestic, as well as in foreign markets. I also learned that our company was exposed to a variety of market fluctuations that needed to be improved on, such as tariffs between different countries, unannounced increases in taxes, transportation costs, etc. Another factor that was very challenging for me was the accurate prediction of the market demand. I don’t think I realized how important this major factor depended on our company’s success.

I learned towards the end that keeping an accurate prediction of demand is one of the most important objectives for the company to stay on top. Unfortunately, this was one of our company’s main weaknesses that helped decrease our company’s success. Outsourcing was another important factor that I did not realize, nor find useful until the last few years of the game. At first, I believed that it would be in our best interest to avoid outsourcing, but as time went on I began to learn that outsourcing actually helped our costs decrease, as well as increase our profit margin.

By realizing this, I also learned that we could cut down the amount of facilities to save money for our company. I think my teammates and I realized this a little too late in the game. There were some features in the game that I remember learning about, but have never used or calculated before. Finance and accounting were never my strongest subjects. Evaluating the financinal performance of an operation through CESIM was a little demanding since I have never actual reviewed a real company’s ratios and key financial indicators, such as shareholder ‘s return, debt-to-equity ratios, return on equity, etc.

Even though I researched and learned the meaning and formulas for each ratio and indicator, I somehow did not learn or understand this part of the game. In conclusion, I do believe that this game did improve my business management skills and decision-making skills through the application and practicing techniques. I look forward to applying these professional skills and knowledge to a real-world setting in my near future. I enjoyed this game and wish my team could have done better overall; however, we learned from our mistakes and managed to improve as a team, as well as individually.

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Learning Outcome on CEISM. (2018, Mar 07). Retrieved from https://phdessay.com/learning-outcome-on-ceism/

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