Sarah M. Pritchett
Office of Advancement
PO Box 1000, Athens, WV 24712
(304) 384-6312, firstname.lastname@example.org
After 4 p.m.
BUSINESS STUDENTS AT CONCORD UNIVERSITY
EXCEL IN COMPETITIVE ON-LINE BUSINESS SIMULATION
ATHENS, W.Va. – Four Concord University students have achieved high placement among participants globally in a competitive on-line business simulation during the Spring 2020 semester. Amaka Obijuru, James Trail, Tracy Parks and Thomas O’Dell placed in the top ten percent of all competitors worldwide overall for the entire Capstone competition. They were members of Concord’s Strategic Management class.
Capstone, provided by Capsim, simulates the management decision processes in a true-to-life, competitive environment. Every semester, Concord requires participation in the simulation as part of the business program capstone experience for students nearing graduation.
“Considering they had to do the entire competition simulation coupled with an online classroom setting, I am beyond excited for them,” stated Dr. Angela Addair, Assistant Professor of Management. “I am so proud of their accomplishments and can only imagine what their futures will hold. I am certain we will see great things from every one of them.”
As part of the competition, each Concord student assumed the role of CEO of a simulated company. They were expected to assess the situation of a simulated business vis-à-vis other competitor firms managed by other students and then develop a sophisticated competitive strategy to position up to eight distinct products in five market segments and deliver desired results to shareholders as reflected by a balanced scorecard.
Strategies were required to address decisions related to product specifications, pricing, marketing spend, sales forecasts, R&D budgeting and scheduling, production scheduling, management of direct costs and contribution margins, purchase or sale of production capacity and automation, inventory management, Accounts Receivable and Accounts Payable management, Human Resource investments in staffing, recruiting and training, 10 distinct Total Quality Management investments, and funding of business cash flow needs through equity and debt issuance. Students executed their strategies in competition with the strategies of other students in a simulated market over a simulated eight-year period.
The Capstone business simulation is utilized by leading business schools in the United States and around the world. Capsim tracks the performance of participants using a balanced scorecard, and reports on participants with balanced scorecard results that are in the top ten percent of all simulated companies that have participated in the simulation in the last six months.
Persons with disabilities should contact Nancy Ellison, 1-304-384-6086 or 1-800-344-6679 extension 6086, if special assistance is required for access to an event scheduled by the University on campus.