MUM's CAPSIM teams discuss simulation in 6 minute video.
Students in MUM’s Accounting MBA program placed first among 137 teams in a national business simulation competition. The Baldwin team was the winning team, including: Peng Wang (China), Ganesh Baniya (Nepal), Abdul Sheikh (Pakistan), and Chittaranjan Sahu (India).
A second team from MUM, the Andrews team, also placed well in the same competition, scoring in the 82nd percentile: Stella Mangwa (Cameroon), Tricia Walrond (Barbados), Nikoo Dolati (Iran), and Monica Bayung (Cameroon).
Although CAPSIM offers official Challenge Competitions where results are published and winners are officially recognized, MUM instead participated in CAPSIM’s Foundation Simulation — a continuously rolling event available on-line where participant teams are evaluated against all teams who have participated in the previous six months. The claim of #1 ranking by the MUM’s Baldwin team is based on the team’s total score of 830 points which placed them in the 99th percentile at the end of the simulation on August 4, 2011.
Through the Foundation simulation, students gain the opportunity to practice integrated decision-making across a wide range of management functions (e.g., product design, sales forecasting, inventory management, operations management, human resources, finance, TQM) while they attempt to optimize both short-term and long-term performance metrics based on the Balanced Scorecard concept. Balanced Scorecard recommends that organizational performance metrics cover four perspectives: financial, customer, internal business processes, and learning & growth.
The simulation is a popular event among students in the class, U.S. and International Accounting Practices. 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.
Many universities have a reputation for producing very good technical accountants who are not good decision-makers. Courses in accounting frequently involve students solving problems that have definite answers. But, in the real world, decision-makers face a complex world of uncertainties. Traditionally, trained accountants often struggle with the desire to want more data leading to procrastination. When our MBA students perform so well against some of the best business schools in the USA, it validates the quality of their integrated decision-making skills and builds confidence that they can compete effectively in the challenging international business environment.
Some of the other colleges that placed in the top 10% of the competition were Villanova University, University of Maryland, Mountbatten Institute, Urbana University, Concordia University, and the University of Wisconsin.