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MUM MBA teams place again in top 10th percentile of international business simulation
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9 April 2014
Lin Zhu, Chunyu Guo, Jilin Wang, Lisi Li
Maharishi University of Management placed four MBA teams in the top 10 out of 103 teams (including number 1) in a recent online business decisionmaking contest run by the international Capsim Foundation Business Simulation.
Fairfield, Iowa (PRWEB) April 9, 2014
In March 2014, all three MBA teams from Maharishi University of Management in Fairfield, Iowa, USA, finished in the Top 10th percentile of 179 MBA teams who participated in the Chicago-based Capsim Foundation Simulation, an international online integrated business decision-making learning resource. The 3 teams comprised 13 students from 8 countries: China, Ethiopia, Iran, Cambodia, Pakistan, India, Nepal, and US.
Over the past four years, 11 of 12 of MUM's MBA teams finished in the Top 10th percentile. In groups competing in 2011 and 2013, MUM had the number 1 team in the world. Last year 4 of the 5 teams placed in the top 10, taking 1st, 2nd, 6th, and 9th.
Ron Duran, Senior Client Relationship Consultant at Capsim, verifies that the three MUM MBA teams finished the Foundation Simulation at 97th, 92nd and 91st percentiles out of 179 MBA teams that participated during the six-month look-back window for the March 2014 groups. The leading MUM team consisted of students all from China, the same as last year.
The Foundation Simulation results are scored based on formulas for both short-term and long-term performance metrics under the Balanced Scorecard Concept which evaluates corporate performance across four perspectives: financial results, customer satisfaction, internal business processes, and learning & growth. The total score earned by each team is the basis of comparisons to other MBA teams that participated in the simulation during the previous six months, the window of comparison offered by Capsim.
Each of the eight rounds of competition requires well-integrated, executive level decisions concerning 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.
According to Dr. Andrew Bargerstock, Director of MUM's MBA Programs and professor for this simulation, USA universities generally have the reputation of producing very good technical accountants who are not always very competent as decision-makers when they enter the workforce.
''This problem,'' says Dr. Bargerstock, ''can be traced to traditional teaching methodologies that ask students to solve problems with well-defined answers. However, business decision-makers face a complex world of uncertainties.''
Based on previous experiences with his MBA teams, Professor Bargerstock credits the Capsim Foundation Simulation with providing an opportunity for students ''to practice teamwork behaviors such as collaboration, negotiation, and consensus-building. The groups need to think and act both strategically and tactically,'' he emphasizes, ''like an executive management team in a dynamically changing environment with competitors.'' The Foundation Simulation was adopted to gain third-party assessment of the value of MBA education at MUM. ''Now, after four straight years of Top 10th percentile finishes,'' Bargerstock reflects, ''we are delighted to see a consistent pattern of results that suggests our students will be competitive in the global job market.''
See The Role of Business Simulation Competitions in Higher Education.
Maharishi University of Management
Founded in 1971, Maharishi University of Management (MUM) offers Consciousness-Based℠ Education, a traditional academic curriculum enhanced with self-development programs like the Transcendental Meditation® technique. Students are encouraged to follow a more sustainable routine of study, socializing, and rest without the typical college burnout. All aspects of campus life nourish the body and mind, including organic vegetarian meals served fresh daily. Located in Fairfield, Iowa, USA, MUM is accredited by The Higher Learning Commission and offers bachelor's, master's, and doctoral degrees in the arts, sciences, humanities, and business. Visitors Weekends are held throughout the year. For more information, call the Admissions Office at 800-369-6480 [toll-free in US; outside US call: +1 641-472-1110] or visit http://www.mum.edu.
Contact: Ken Chawkin
Tel: +1 641-470-1314
Maharishi University of Management
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