Bridging theory with practical skills is one of the core values of IZee, one of the top MBA colleges in Bangalore. On 11th December, IZee organized a game – Paper Boat Corporation.
The game was an engaging simulation designed to teach critical business strategies via real-world scenarios. This game gave students an idea of how companies actually work, offering an impactful glimpse into how companies actually operate.
The Paper Boat Corporation game places students in a dynamic business environment where material prices fluctuate, customer demands change suddenly, and the competition is immense. The students participating in the game had to make quick decisions, like- buying the raw materials at the right price without overstocking to avoid wastage. If they fail to track and react to the sudden changes in customer demands, they have a risk of producing unwanted products. The game also highlighted the importance of having a strong brand identity, e.g., the students forgot to put their brand name on the product (boat), and due to this, even the best products were rejected. The more the production of the ship, the less the cost per boat will be, as the labor costs remain the same. Students could also sell boats in the open market at various prices based on their market research and strategies and make profits and losses accordingly.
Overall, the students felt the confusion and chaos with other competing groups, just like the competitive simulation companies face in the volatile market. The Paper Boat Corporation was more than just a classroom activity; it was an attempt to bridge the theoretical knowledge of students to practical skills.
The game offered students valuable insight into the real-world challenges of business organizations, emphasizing the key strategies that are crucial for success. The main concepts encapsulated in the activity were:
- Leadership in a volatile environment
- Quick-decision making
- Managing resources efficiently
- Tracking and adapting to market fluctuations
- Benefits of specialization and division of labor
- Economies of scale
At IZee, one of the top B schools in Bangalore, simulations like the Paper Boat Corporation game are part of an innovative approach to learning, bridging the gap between theoretical and practical business strategies. The game made a lasting impression on students, giving them an insight into key business strategies in a fun and interactive way. Through these innovative methods, students are prepared to navigate the complexities of the business world.
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