For the first time, MBA students of the UC Louvain / BMI Executive Institute class and MBA students from the THM Business School in Germany had a joint module in September 2024. Located near Brussels (Belgium), Louvain-la-Neuve is the university town of the Université catholique de Louvain. It has a young population and is characterized by an innovative urban planning concept that severely limits car traffic and gives pedestrians and cyclists plenty of space. The center is traffic-free and offers numerous green recreational areas. Louvain-la-Neuve is also famous for its museums, including the Hergé Museum dedicated to the creator of “Tintin” ("Tim und Struppi" in German), as well as its lively cultural and student scene. The welcome and address to the mixed group of students by Prof. Matthieu de Nanteuil, Dean of the Faculty at Louvain School of Management, was particularly nice.
The shared module focused on a business game, an immersive simulation exploring key business areas like procurement, production planning, marketing, and finance. Guided by Prof. Jan Freidank and Prof. Simon Kiesel from THM Business School, participants were asked to make decisions in real-time business scenarios.
Participating in a business game offers students the opportunity to manage a virtual company, take on different roles and make strategic decisions that reflect the real market. This enables them to apply theoretical knowledge in practice and to directly experience the relationships between decisions and their consequences.
The benefits include:
- Hands-on learning: Students can act in realistic scenarios, which increases the practical relevance of what they learn.
- Risk-free experimentation: They can make mistakes without real consequences and try out alternative strategies.
- Strengthening teamwork and competitive thinking: Solving tasks together and competing with other groups promotes social and entrepreneurial skills.
Overall, a simulation game helps to promote students' decision-making skills and entrepreneurial thinking and better prepare them for real-life professional situations.
Author and Photos: Simon Kiesel