Over the summer term, our Full-time MBA students build their own curriculum from a choice that includes electives, an internship or a business simulation project. In part two of our summer catch up, Jaime Martinez, Class of 2018 reflects on his experience of the business simulation.
"The business simulation is a one-week intensive course. It is a good mix of lectures, interactive discussions, challenges and simulations. At the beginning of the week, you are given instructions, a brief tutorial, and access to a lot of market research and simulation information.The class is split into groups that will compete throughout the week in several rounds. The ultimate goal is to obtain the highest share price for the company you create. Throughout the week, stakeholder challenges and situations come up and are managed by the professor. It is a great way to put into practice all the lessons we’ve received throughout the MBA. The simulation can be very time-constrained and solutions and strategies need to be rushed, which only makes it more entertaining. It allows for a lot of creativity and going off-script, as the professor manages the simulation and is able to modify conditions to make it even more realistic. The course is evaluated based on the final share price, a written assignment and the reports and presentations made to stakeholders during the week.
This year’s simulation focused on the European car industry. We were given a budget and had to make decisions on promotion, marketing, design and launch of models, production, HR management (including union negotiations, training and wages), suppliers and many other challenges that the strategist/manager in the real world would have to face. Additionally, the cherry on top was a very insightful and interesting visit to the Land Rover/Jaguar factories outside of Liverpool."
Following this term, the class will move into the autumn term of academic study, which includes electives, international exchanges and study tours across the globe. Find out more about the Full-time MBA here >>
By Jaime Martinez and Laura Yeaman, VP Communications, Class of 2018