In today’s fast-paced and ever-changing business world, entrepreneurs and business owners are constantly seeking innovative ways to stay ahead of the curve and predict economic trends. One emerging trend that has caught the attention of the business world is the use of business simulation games to develop fundamental business management skills and gain insights into real-life economic scenarios.
Business simulation games, also known as tycoon games, are edutainment tools that recreate real-life business environments in a stress-free and fun manner. Players are placed at the helm of fictional companies, where they must strategize and make decisions to navigate their way to success. The best part is that any mistakes made in the game have no real-world consequences, allowing players to learn from their errors and avoid similar pitfalls in their actual businesses.
‘SME City’ was recently created by expert Kate Hardcastle, who highlighted the common challenges faced by small business owners, including working long hours, sorting out tax returns, and chasing payments. She emphasized the importance of managing cash flow and surrounding oneself with a ‘dream team’ of experts to release pressure and protect the business.
Video games can help overcome numerous obstacles, as the rewarding results make it all worth it in the end, according Hardcastle.
Players who rank in the top three positions on the leaderboard are awarded prizes, comprising ‘life:style’ gift vouchers worth up to £200, with a choice of more than 125 brands. These prizes can be won every quarter, starting from Friday 8th September.
“Our research shows that while work admin can be the bane of every business owner, the majority of small business owners are positive that technology can provide a helping hand in making their business admin chores easier,” added Hardcastle.
Given Hardcastle’s claim is true, this real-life scenario-based game aligns with the trend of using business simulation games to develop crucial business management skills and predict real-life economic trends. It provides an opportunity for players to experience the rewards and challenges of entrepreneurship without facing real-world consequences for their decisions.
A number of games have already gained considerable popularity among entrepreneurs and business professionals due to the numerous benefits they offer. One key advantage of them is the opportunity to develop both hard and soft business skills. Players can learn valuable lessons in communication, leadership, operations, and other crucial areas, while also honing industry-specific expertise.
Inspired by the retro 80s arcade scene, game like Virtonomics allows players to work within various industries, such as agriculture, retail, finance, and marketing, to build successful virtual businesses. The aim of the game is to get from start to finish without being caught out by any of these tricky realities, and it’s much harder than it seems. In Virtonomics, players can experiment with various business strategies and compete against other players to become successful entrepreneurs, gaining insights into market dynamics and pricing strategies.
Two Point Hospital allows players to understand the complexities of running a healthcare facility, including resource allocation and staff management.
Business simulation games are precisely what they sound like. They’re ‘edutainment’ tools that can help you sharpen your business management skills without any real-world consequences or workplace stress. Your game will resemble real-life business experiences, but any mistakes you make in the game won’t have any real risk or repercussions. All your mistakes happen only in the game. For example, in Motorsport Manager, players must manage the team responsible for putting a driver on the podium, experiencing the complexities of racing management without real-world consequences.
Some business simulators are so educational it can be hard to realize you’re playing a video game. Want to have fun while sharpening your business savvy? Try one of these best game-like business simulators. For instance, in Planet Coaster, players must construct the best theme park rides and roller coasters to attract visitors and manage limited funds to earn profits.
Moreover, business simulation games serve as a valuable tool for training and leadership development. Marketplace Simulations, an award-winning learning tool, provides real-world scenarios set in a competitive environment for business students to practice and experiment with different business strategies.
The gaming industry has witnessed a noticeable inflow of business simulation games that cater to various interests and skill levels. For those aspiring to be successful entrepreneurs in the digital world, Youtubers Life 2 offers a chance to experience the challenges of building a successful YouTube channel and social media influencing.
On the other hand, for those with a passion for the medical field, Two Point Hospital allows players to step into the shoes of a hospital administrator, managing healthcare operations, and finding cures for unusual illnesses.
Moreover, business simulation games can also cater to more unconventional interests. Space Warlord Organ Trading Simulator presents players with the task of navigating a cut-throat organ-based market, while Constructor Plus challenges players to build a town with quirky characters and businesses.
In addition to their entertainment value, reviewers have claimed that these games are highly educational and can significantly contribute to the professional growth of individuals in the business world. Capitalism Lab, for instance, places players in the role of CEOs competing in various markets, teaching them to overcome real-world challenges like bankruptcy and buyouts.
With such a diverse range of business simulation games available, it can, however, be challenging to choose the best one. For a comprehensive and immersive experience, ‘SME City’ has just emerged as a top choice. Likewise, Virtonomics’ multiplayer platform allows players to test their financial skills and conquer various industries, making it an excellent source of entertainment, knowledge, training, and development.
Let’s sum up: the age of business simulation games has just begun, offering a safe and enjoyable environment for entrepreneurs and business owners to develop crucial business management skills, predict economic trends, and make informed decisions, making them essential tools for success in today’s competitive business landscape.