Every semester students from Concord University participate in a competitive on-line business simulation called Capstone, provided by Capsim. Capstone simulates the management decision processes in a true-to-life, competitive environment. Concord requires participation in the simulation as part of the business program capstone experience for students nearing graduation.
The Capstone business simulation is utilized by leading business schools in the U.S. 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.
The Strategic Management class at Concord University placed students in the top ten percent of all competitors worldwide for at least one round of the competition. Those students are: Darren Onwuzuruoha, Trevor Wiersma, Luke Lilly, Harrison Kaluk, Ryan Weikle, Casey Hayes, Kelsey Walls, Cody Dooley and Alycia Osborne.
During participation in Capstone, each Concord student assumes the role of CEO of a simulated company. They are 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 must 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 execute their strategies in competition with the strategies of other students in a simulated market over a simulated eight-year period.
Angela Addair, a professor of the strategic management course, stated, “About midway through the semester I received a call from a university in Hawaii. Their class was watching our progress and asked if I had any suggestions since so many of our students were achieving the top 10 list each round. It certainly was a compliment to us all, and I think it made them work even harder to make sure they didn’t lose their ranking on the list since they knew others were watching.”
A brief award ceremony for these outstanding students was held on Thursday May 3, 2018 in the Nick Rahall Technology Center at Concord.
“I always try to make sure they realize what a big accomplishment this is for them,” Addair said. “It’s a very big deal.”
