Four MBA teams from Maharishi University of Management finished in the Top 10 out of 97 MBA teams who participated in the international CAPSIM Foundation simulation during the six-month period ending July 1, 2012. As confirmed by Ron Duran, Professor Relations Representative at the Chicago-based CAPSIM Company, MUM’s Chester Team finished at the 97th percentile, the Digby Team finished at 95th percentile, the Baldwin team finished at 93rd percentile, and the Andrews Team finished at 90th percentile. This performance marks the third consecutive year in which MUM’s MBA Accounting students have placed at least one team in the Top 10. Other MBA participants in this year’s Top 10 included teams from Villanova University, University of Texas – Dallas, Drexel University, and Alfred Laurier University (Canada).
The CAPSIM Foundation Simulation is a continuous event available on-line where participant teams are evaluated against all teams who have participated in the previous six months. Through the Foundation simulation, students gain the opportunity to practice integrated decision-making in a manufacturing industry across a wide range of management functions, e.g., product design, sales forecasting, inventory management, operations management, human resources, finance, and quality management. The simulation results are scored on both short-term and long-term performance metrics based on the Balanced Scorecard concept which encourages development of organizational performance metrics across four perspectives: financial, customer, internal business processes, and learning & growth.
The simulation is a popular event among students in the MBA Accounting classes offered by Dr. Andrew Bargerstock, Director of MBA Programs at M.U.M. The students appreciate the opportunity to exercise their skills in executive decision-making and small group dynamics. Both strong analytical skills and informed intuition are valuable for simulation decision-making. The winning team reports its success came from a combination of good decisions about product pricing, building customer awareness, product innovation, automation of production facilities, controlled expansion of capacity, cost control, training and development of personnel, and sound financing strategies.
Dr. Bargerstock states that “when our mostly international MBA Accounting students perform so well against some of the best business schools in North America, it validates the quality of our students’ skills in integrated decision-making. This performance indicates a high level of preparation that our MBAs will bring to the workplace.”According to Dr. Bargerstock, USA higher education has the reputation of producing very good technical accountants who are not so competent as decision-makers. This problem can be traced to traditional teaching methodologies that require students to solve problems with definite answers. But, in the real world, decision-makers face a complex world of uncertainties. The simulation provides an opportunity for students to practice with the framework required for success in executive management.