RMIT Vietnam NewsVirtual management teams go head-to-head in Vietnam

Virtual management teams go head-to-head in Vietnam

Friday, October 22, 2010 - 16:36
Homepage of Capsim Business Simulations website

Accounting academics from RMIT Vietnam introduced new products into diverse marketplaces, maximised stock prices and built new high tech manufacturing facilities – all before lunchtime, as they managed competing simulated companies during a two day professional development workshop held in September at the Saigon South campus in Vietnam.

The group of 22 accounting academics from Hanoi and Ho Chi Minh City met at the Saigon South campus for a two-day intensive experience in Capstone Business Simulation as introduction to a final year course that will commence at both campuses in Semester 1, 2011. 

Introducing the workshop, David Knock, from the Centre of Commerce and Management, 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 in Melbourne, 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,” said Dr Craig Watters, CEO of Capsim Business Simulations who delivered the training in Vietnam. “Capstone is a unique tool that challenges its users to apply their learning to real-world business challenges, and to be accountable for their decision making, all in a risk-free and engaging environment.

For further information about the workshop, please contact Warwick Ponton at warwick.ponton@rmit.edu.au.