On May 8 and 9, the International Management and Leadership 2015 cohort participated in the “Going Global” business simulation organized by Lauder Business School and TOPSIM®. The “Going Global” game can be described as a flight simulator for managers based on the “learning business by doing business” principle. The challenge for students is to make decisions as a team, i.e. to decide on the type, scope and direction of their company expansion on its way to become a global player.
TOPSIM® instructor Mr. Thomas Weber, MA, who has been working at Tata Interactive Systems for the past seven years as Sales Manager of the Products International division, guided the students through these two exciting days. Addressing the students, he explained that the company with the highest share price will win and that the strategy taken will determine company’s success. Divided into 4 teams, students competed in the following regions: Europe, Asia 1, Asia 2, North America, South America and Africa.
The overall experience and the feedback from students was extremely positive. They enjoyed the competitive atmosphere in the classroom, the possibility to immerse themselves in the business reality, as well as the practical approach to decision making. Rachel Velsher: “This simulation is a nice way to finish off the two-year degree. All the models and theories we studied so far came together and it all made sense!” Her colleague Rozaliia Pait added, “Participating in the game was a great learning experience, as we really had to think about our decisions and their consequences. A great wrap-up of the curriculum!”
The “Going Global” days finished with teams presenting their strategies, their success factors, main mistakes and takeaways for the future. Wiebke Müller from the winning team Asia 1 summarized, “The key to our success was teamwork. We divided the workload well and in this way we could interpret all the details, see the whole picture and decide on how to act.” Her colleague Nikoloz Lortkipanidze added, “Good financial analysis and our attention to details, as well as the firm strategy resulted in beneficial results for our company”.
Mr. Weber talking about his experience at Lauder Business School: “I was happy to work with LBS students. It was a very interesting experience; one could see teams developing different approaches while entering different markets, which is not always the case. The challenges for students were to act under time constraints and to be able to interpret the answers that the system gave them. The main difference between doing the simulation with executives and with students is that executives can see and interpret the big picture faster. What distinguishes LBS students is the extremely international background, strong English skills, applying what they learned so far and the ability to work well in diverse teams.”
Lauder Business School was happy to work together with Planspielzentrum Austria, who recommended using TOPSIM® “Going Global” in our classes. TOPSIM® simulations are deployed in many companies across the US, Europe and Asia. In addition, they are used by more than 300 universities in Germany, as well as 70 per cent of the 30 DAX-listed companies. These businesses include: UniCredit Bank Austria AG, Credit Suisse Group, Erste Group Bank AG, Allianz, McKinsey, BCG. Among the educational institutions are: Ludwig-Maximilians-Universität München, Freie Universität Berlin, Universität Tübingen, WHU – Otto Beisheim School of Management, Siemens CKI RWTH Aachen, Frankfurt School of Finance and Management, European Business School, WU Wien, etc.