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Business simulation or corporate simulation is ... the use of games in business and economics goes back to 1956 when the American Management Association developed the ...
Business simulation games, [1] [2] also known as tycoon games or economic simulation games, [3] [4] are video games that focus on the management of economic processes, [5] usually in the form of a business. Pure business simulations have been described as construction and management simulations without a construction element, [2] and can thus ...
A simulation game is "a game that contains a mixture of skill, chance, and strategy to simulate an aspect of reality, such as a stock exchange".Similarly, Finnish author Virpi Ruohomäki states that "a simulation game combines the features of a game (competition, cooperation, rules, participants, roles) with those of a simulation (incorporation of critical features of reality).
Often, the term "business simulation" is used with the same meaning. A business game is defined as "a game with a business environment that can lead to one or both of the following results: the training of players in business skills (hard and/or soft), or the evaluation of players' performances (quantitatively and/or qualitatively)". [1]
A subset of life simulation games incorporate elements of business simulation games, but which the player-character has an active role in the game's world and often tasked with activities similar to real-life functions in a business as to keep the business going. These life simulation games deemphasize the business and management elements ...
A business simulation is another corporate development tool used to increase business acumen. Several companies offer business simulations as a way to educate mid-level managers and non-financial leaders within their organization on cash flow and financial-decision-making processes. Their forms can vary from computer simulations to boardgame ...
Modeling and simulation (M&S) is the use of models (e.g., physical, mathematical, behavioral, or logical representation of a system, entity, phenomenon, or process) as a basis for simulations to develop data utilized for managerial or technical decision making.
Human-in-the-loop simulation of outer space Visualization of a direct numerical simulation model. Historically, simulations used in different fields developed largely independently, but 20th-century studies of systems theory and cybernetics combined with spreading use of computers across all those fields have led to some unification and a more systematic view of the concept.