Business management and hospitality management majors at the University of Pittsburgh at Bradford had the opportunity to benchmark their business skills against other students around the world during their capstone classes this spring.
Capstone courses synthesize what students have learned throughout their college career into a final project. For students of Dr. Amy Gresock, Assistant Professor of Business Management, and Lynette Campogiani, Visiting Assistant Professor of Hospitality Management, this came in the form of running a simulated business as part of GLO- BUS, a global business competition for students from 251 campuses in 26 countries.
At the start of the spring semester, teams of students from around the world were given identical attributes for a hypothetical company. Each company made the same thing – moving cameras and drones, and then could adjust things like employee compensation and benefits, stock offers and buybacks, marketing dollars, whether to invest in the robot technology rather than assembly workers, research and development, etc.
The GLO-BUS system then measured each team’s performance against other teams around the world. Each week of the semester was equivalent to a “year”, and GLO-BUS publishes the ranking of the world’s top artists and the corporate social responsibility awards every week.
“I think simulation is a great tool to help students understand how strategy principles work synergistically to affect different performance metrics,” Gresock said.
For a week, one of Gresock’s teams, which had renamed its company ASnapRone, tied for second place among the best teams in the world out of 2,656 teams competing.
The team consisted of Floyd Do, a business management specialist from Souderton, who served as marketing director; Olivia Feightner, a hospitality management major from Hamburg, NY, who served as a human resources manager; and Ben Mulhall, a sports and recreation management specialist from Webster, NY, who acted as product and packaging designer.
ASnapRone students said their priority was to make money for their investors, which they did by reducing assembly costs by developing robots, focusing on social benefits to retain employees and buying back shares.
Jacob McNabb, a business management student from New Kensington was on a different team. He said doing the simulation “helped show how one thing affects another” in the business world.
Emily Hodge took a different approach. The Philadelphia accounting and business management major said her group learned that corporate citizenship is as important as profits, especially when product quality is equal to that of another company.
At first his group focused on cheap products, but after a few “years” its sales declined and the members decided to invest in the product and employees, focusing on producing a high end product. It was difficult to regain the territory they had lost, she said.
“You don’t want to be the bad employer losing all your employees,” she said.
At the end of the simulation, three teams from Pitt-Bradford were named as “the most outstanding corporate citizens” in the simulation, ASnapRone and two teams from Campogiani’s class, Bradford Company and Dynamic Drones.
Gresock said: “I’m really proud of the top teams this semester. They all did very well in the simulation and demonstrated that they have mastered not just class concepts, but the application of strategic objectives. »