Developments in Business Simulation and Experiential Learning(Texas Digital Library - TDL E-Journals)
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Experiential Learning for Risk Management: Navigating Fintech and Cryptocurrency in Retail Finance.
No full textThe increasing adoption of fintech and cryptocurrency in retail finance has created innovative opportunities while introducing significant risks. Challenges such as cybersecurity vulnerabilities, regulatory ambiguities, and operational complexities necessitate that business professionals possess practical skills to mitigate these risks effectively (Gomber et al., 2018; Schueffel, 2016). Despite the growing importance of these technologies, limited emphasis has been placed on experiential learning strategies, which involve learning through experience and reflection, to address such challenges in business education (Kolb, 2015; Kolb & Kolb, 2017)
Bringing Experiential Learning to the Challenges of Examinations
No full textExaminations are an integral and unavoidable part of the challenges facing ABSEL scholars. This paper addresses this challenge by applying experiential learning techniques to the examination process. An oral examination technique based on the integration of direct experiential learning (DEL) and vicarious experiential learning (VEL) called Hot Seats is presented as a mechanism for enhancing student learning engagement and depth of student learning retention. A model of integrative experiential learning combining direct experience and vicarious observational experience is developed. The paper concludes with a detailed description of the Hot Seat inverse lecture process and its potential for enhancing student engagement.  
Enhancing Machine Learning Education in Business Schools through Experiential Learning in Sports Analytics: A Case Study Approach
No full textIn the rapidly evolving field of education, experiential learning has proven to be an effective approach for fostering student engagement and deep understanding by immersing learners in hands-on, real-world challenges. This paper presents a structured framework for teaching Machine Learning (ML) concepts, implementation with applications to sports management through personalized, project-based learning, using an NBA playoff prediction project as a case study. The framework integrates experiential learning principles with the technical rigor of ML, emphasizing three key aspects: data-centric learning, model-centric learning, and application-centric learning.
By allowing students to personalize their projects within the general domain of machine learning applications, the approach ensures alignment with students’ interests and aspirations. Students engage in the end-to-end ML pipeline, including data acquisition, cleaning, feature engineering, data visualization, model implementation using techniques such as XGBoost, and evaluation through metrics and interpretability.
This personalized, hands-on method equips students with both theoretical knowledge and practical skills, cultivating critical thinking, creativity, and a sense of ownership in their learning. The paper contributes to experiential learning literature by presenting a replicable framework that bridges technical proficiency and real-world applications, demonstrating its efficacy in fostering a holistic understanding of Artifical Intelligence integration in business education.
 
A Decade of Doing: Reviewing Ten Years of Experiential Learning at ABSEL
No full textGannon University’s faculty have partnered with the Erie School District to create a unique experiential learning environment aimed at assisting newly arrived students in acclimating and building trust within their new cultural settings. This initiative leverages the dynamic interaction between Gannon University’s Socially Responsible Leadership & Organizational Behavior and Ethical Leadership classes (primarily international students) and newly arrived seventh-grade students (primarily refugees and migrants) from the Erie School District. The choice of seventh graders is strategic; it is a developmental stage where young individuals begin to form their personal codes of ethics and behavior
A Survey of Business Simulation Game Users, Former-Users, and Never-Users in AACSB Schools: A Retrospective Benchmark
No full textBackground. A ten-year retrospective benchmark report updating an earlier survey by Faria and Wellington (2004) on business simulation game usage by educators is presented. It was a follow-up survey of business faculty members at Association for the Accreditation of Collegiate Schools of Business (AACSB) member schools in North America and was undertaken in 2013.
Rationale. This article fills in a gap in the record and reports on the state of the educational use of business simulation games in 2013 with respect to simulation game adoption; reasons for adoption; objectives in use; sources of game information; usage of games by discipline and course; reasons for changing games or dropping games; and why simulation games are not used; and where appropriate, a comparison with views expressed by a similar audience in 2004 is undertaken.
Method. An e-mail was sent to 30,137 business faculty members at AACSB member schools in North America requesting their participation in a web based survey.
Results. Across the 1,072 respondents to the 2013 survey, 37.0% were current business game users as compared to 30.6% in 2003; 19.1% were former game users in 2013 while this proportion was 17.1% in 2003; and finally, 43.8% were never-users of business simulation games in contrast to 52.5% in 2003.
Conclusions. Between 2003 and 2013, business simulation game usage amongst business faculty at AACSB member schools increased and there were changes in the reasons for simulation game adoption, objectives and how games are used. The authors speculate that these changes were related to the Assurance of Learning considerations in the AACSB standards that were being emphasized at the time
Assignment Management Language and Application
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Adoption of educational innovations accompanied by assignments is hindered by the burden assignment administration imposes on instructors. The burden would be less if assignments could be described in a language that software can be programmed to process. I developed Assignment Markup LanguageTM (AML) for the purpose and modified an assignment management application (AMA) to process the language. AML is a scripting language that is minimally intrusive, distinctive, and parsimonious, requiring only 8 keyboard characters to form 12 directives. Should educators coalesce on a common language for assignments, network economics will compel AMA service providers to modify their AMAs to be literate in the common language for assignments. An ABSEL repository for assignments is suggested to motivate coalescence
Integrating Experiential Learning and Artificial Intelligence in Management Education: Trust, Literacy, and Structured Frameworks
No full textThe integration of Artificial Intelligence (AI) into management education is transforming how students learn, collaborate, and prepare for the complexities of future workplaces. In the context of Organizational Behavior (OB) courses, where students traditionally study human dynamics, decision-making, and leadership, the inclusion of Generative AI (GAI) bridges the gap between theoretical learning and real-world application. This narrative captures the journey of integrating AI tools into OB courses, highlighting two key studies conducted in 2023 and 2024. These studies explore trust, literacy, and the application of the RACE framework (Role, Action, Context, Explanation), offering insights into how AI can enhance experiential learning and ethical awareness
Development Of Entrepreneurial Intention Through Simulation in Uk HEIs; Multi-level Analysis of Procedure as a Moderator of Outcomes
No full textThis study examines the impact of simulation-based training (SBT) on the entrepreneurial intentions of undergraduate andpostgraduate students at a UK higher education institution. Using a mixed-methods approach, the research investigates studentperceptions and evaluates SBT as a moderator of entrepreneurial intention development. Quantitative pre- and post-simulationsurveys measure changes in intention, while qualitative focus groups provide contextual insights. Findings highlight differences inentrepreneurial skills development between undergraduate strategic management simulations and postgraduate social enterprisesimulations. The study contributes to understanding the role of experiential learning in entrepreneurship education and offersactionable recommendations for enhancing SBT in business school curricula
Instant Feedback: Theory and Implementation
No full text Instant Feedback (INSF) is a feature of an internet-based computer application that resolves limitations of the paper-based Immediate Feedback Assessment Technique (IF-AT). Whereas IF-AT reveals the correctness of each response immediately when the test taker enters a response, INSF gives test takers control over the timing of feedback by revealing correctness instantly when the test taker selects the OK button following responses to any number of items. Scoring rules that give partial credit based on the number of attempts are explicated, concluding with the finding that the harmonic rule, which incentivizes excellence and never yields a zero result, is easiest to administer when scores are computed automatically. How INSF is implemented in an assignment management application is described. Further research is suggested into the antecedents of test taker decisions on the timing of feedback that INSF allows, and into the consequences for learning of allowing test takers to make those decisions.
Designing an Innovation Lab: A Catalyst for Entrepreneurial Creativity and Eperiential Learning
No full textWith the increasing demand for innovative entrepreneurship curricula, it is essential to consider the physical spaces that best support student learning. This paper presents a conceptual framework for designing dynamic environments that foster creativity and experiential learning. The proposed space is designed to promote collaboration, ideation, and problem-solving while providing students with the tools they need to develop and implement their ideas. Although this paper does not present empirical data on student outcomes, its primary aim is to propose a conceptual design framework for an innovation lab. By mapping current theories in entrepreneurship education, experiential learning, and technology integration to practical design elements, this work establishes a foundation that future studies can build upon to empirically assess the lab’s impact on student engagement, creativity, and entrepreneurial success