Business schools across the globe have been burning their midnight oil to stay relevant. They are trying out every possible measure to adopt emerging technologies. Yet MBA institutes are facing intense criticism for their inability to prepare future leaders and job-ready employees.
The criticism comes from educational experts, industry leaders, and students. Therefore, the time has come for management education to evolve and adopt modern tools and technologies to impart education. Complete reliance on classroom education will be a great beginning.
Classroom education heavily depends on theoretical learning, which isn’t ideal in a technologically driven era. Failure of traditional education has led to the rise of simulation-based learning, which not just fills the skill gap, but even helps students prepare for the future. However, it is just the tip of the iceberg. Let’s us dig deeper and understand some of the key differences between these forms of learning.
As the name suggests, classroom education relies on classroom lectures. In this form of learning, while students might know the theory part of something, they may not be aware of its practical application. However, with the help of simulation-based learning, students are not just theoretically aware, but also get a first-hand experience.
Let us understand this with an example. Imagine you’re sitting in a boardroom. You have to take a critical decision that will impact the future of the company and affect its share prices. You close your eyes to understand the situation. Immediately, you experience déjà vu. There’s a sudden surge of energy within your body.
You realise that you’ve lived this moment during your management years. The simulation-based learning helps you to effortlessly take the decision, which helps your company in the longer run. Such an experience isn’t possible through PowerPoint presentations or classroom learning.
Let us again play with your imagination. Imagine sitting in a business management lecture. Your accounting professor is immersed in the class while you’re lost in the dreamland. Until he conducts a test, the professor might not be aware that you were not attentive or didn’t understand the topic. Such a huge gap is often detrimental to learning.
However, with the help of training simulations, professors can instantly determine the interest levels of each student. There is also the possibility of immediate feedback. Instructors can also provide them with real-time feedback.
While classroom education has its merits and it is here to stay, simulation-based courses help students hone new skills and prepare them to meet market expectations. It is the need of the hour. In the near future, we will see more and more institutes adopt simulation learning to prepare students for the market.