A practical approach to global competitive factors: Achieving key success parameters in international business

Fahrettin Ozdemirci, Nurullah Kahvecioglu and Halil Yorulmaz
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Fahrettin Ozdemirci: Magamanent and Strategy Doctorate Programme, Institute of Social Sciences, Istanbul Medipol University, Istanbul, Turkey
Nurullah Kahvecioglu: Magamanent and Strategy Doctorate Programme, Institute of Social Sciences, Istanbul Medipol University, Istanbul, Turkey
Halil Yorulmaz: Magamanent and Strategy Doctorate Programme, Institute of Social Sciences, Istanbul Medipol University, Istanbul, Turkey

International Journal of Business Ecosystem & Strategy (2687-2293), 2019, vol. 1, issue 1, 26-54

Abstract: Multi-game simulations are the most widely used tools in international business and strategic management education. In Business Schools, all courses from Strategy to Finance are taught from case studies and books, using research results. But when managing a business, there is no way to learn the parts of the business from books by gaining experience in complete integrity. Company management competence requires practice in areas such as production, marketing, R & D, finance, operations, and strategy. The simplest way to practice this in the learning process is through business simulations and multi-game applications. These simulations help students to acquire workforce skills by practicing critical thinking, making better decisions and solving business problems. It has taken its place in education life as a powerful teaching tool for business simulations. The student teams compete with each other by running multinational enterprises over several game rounds, and the round represents a fiscal year. International business development games are decided and risk-free. During the simulation process, they have to decide on a product portfolio, pricing, advertising, production, R & D and financial structure in each round. International business aspects of the games include exchange rate fluctuations, trade barriers, different tax rates between countries, shipping points and international cash management. In the room, players are interested in the current national differences, including preferred ones, price sensitivity, production location, market growth, business environment, and economic growth. Instructors follow which decisions will be highlighted in the course's planned learning objectives and guide preferences for students. We will explore the decisions and knowledge of CAPSIM Global DNA in a multi-game design. This article differs from other studies in that it is a study that puts forward the theory and application of a computerized representation simultaneously.

Keywords: Business; International Business; Business Simulations; Strategic Management; Key Success Factors; Capsim (search for similar items in EconPapers)
Date: 2019
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