01 December 2010
Virtual management teams go head-to-head in Vietnam
RMIT Vietnam Accounting lecturers at the workshop.
Working on team management decisions.
Listening to the workshop introduction.
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Accounting academics from RMIT International University Vietnam introduced new products into diverse marketplaces, maximised stock prices and built new high-tech manufacturing facilities - all before lunchtime.
They did so while managing competing simulated companies during a two-day professional development workshop held at the South Saigon campus.
The group of 22 accounting academics from Hanoi and Ho Chi Minh City met for an intensive experience in Capstone Business Simulation as introduction to a final-year course that will begin at both campuses in Semester 1, 2011.
Introducing the workshop, Dr Daryl Cahill, Associate Head, International, from the School of Accounting, said there were three key reasons for using the integrated business simulation.
"First, it is strategically important for universities to better prepare students for the corporate environment. Our goal is to integrate the learning from theoretical units through the experience of running a business.
"Second, increasing our students' engagement with learning is crucial. The more we can involve them - and the emotional energy that a competitive business environment creates really does improve involvement - the more we create the environment for more effective learning.
"Finally, the professional accountancy bodies in Australia and around the world are saying they want graduates who have more than technical skills. They want them to be better rounded business people, able to make effective decisions and to operate well in a business team. The Capstone simulation helps us respond to that need."
Course coordinator Warwick Ponton said verbal feedback from students using the simulation was very positive, but he plans to survey students to quantify their response.
"We did a regional test of the simulation in Hong Kong in January," he said. "An immediate improvement in teaching scores was the first evidence we saw of a positive student response."
"People learn by doing," Dr Craig Watters, CEO of Capsim Business Simulations, who delivered the training in Vietnam, said.
"Capstone is a unique tool that challenges its users to apply their learnings to real-world business challenges, and to be accountable for their decision-making, all in a risk-free and engaging environment."