ITM News | Image Resource: shutterstock.com The purpose of business simulation is to put the learner in an absolutely realistic scenario and make them face situations that they eventually would face in their future work life as managers and entrepreneurs. As per the curriculum updates on ITM news, the MBA and PGDM courses offered by the institute cover all the essential aspects of business and the methods of taking decisions regarding them.
But there is a huge difference between learning in theory about decision making and actually applying that in the practical context, and business simulation practices help bridge these gaps with modern technology-based pedagogy. The many benefits of business simulation classes are: • Teaches the students to handle actual business challenges in practical scenarios. • Prepares them for crisis management and for handling sensitive situations that might arise in their professional career in the future. • Adds an element of competitive edge to the career and puts the scope of learning outside the classroom and in an almost real world of business. • Provides better understanding of various financial and managerial problems that will arise in your eventual workplace. • Improves practical context to the theoretical concepts of business and management and promotes better understanding of the various tools and techniques at the disposal of an entrepreneur or a manager. • Helps develop interpersonal communication and other soft skills, as well as a learner’s ability to work in a team both as an executive member and a leader. Among the many core technological advancements that cater to the students of the Financial Markets PGDM course of ITM industry-focused facility at Vashi, Navi Mumbai, the Business Simulation Lab is right at the centre. A first-of-its-kind provision in the country, the lab helps create the most realistic market environment for the students within the walls of the laboratory with the help of a decade’s worth of actual market data and facilitates hands-on training in market derivatives, securities, stock trading, foreign exchange, and much more. The Business Simulation Lab of ITM is constantly being upgraded with newer features, updates of which are accessible if you follow news of ITM on a fairly regular basis.
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