For the past few years Professor Joe Kuvshinikov has been using Income/Outcome business simulation in his undergraduate accounting courses.

Joe is a really creative guy as regards using the simulation. So far he has used it in a Sister Cities project in Poland, and in a Rotary Club Entrepreneurship effort in Uruguay.

The program at Kent State Ashtabula is no different.

Joe runs the business simulation runs over 3 consecutive Fridays, and brings together students, and faculty, from 5 different courses. And this year, they brought in Smith & Wesson Chief Executive Officer Michael F. Golden who held a shareholder meeting with each team; requiring each team to tell him, as a major shareholder, what was their strategy, and why was it good. What a great experience for undergraduate business students! (or anyone who is in business!).

Here is a sampling of the simulation benefits as identified by the students:

  • Help physically see how a business runs. I can see real life situations without losing real money.
  • Gave a good idea of competition
  • More knowledge of how my clients’ businesses actually operate
  • I feel the simulation will benefit my professional career by preparing me for what I may run into by wanting to own my own business

and there were many more. The exit survey was 100% YES for the recommending the simulation to other students.