Hands-on learning in business education. Four university students using Validate on a tablet to help develop a startup idea for their entrepreneurship project. This is a great example of using experiential learning in business education.
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The power of hands-on learning in business education

BySimVenture

In today’s fast-paced world, where innovation and adaptability are critical, hands-on learning has become one of the most effective methods for acquiring real-world skills. Whether you’re an educator, a student, or a business professional, experiential learning techniques can transform theoretical knowledge into practical expertise.

In this blog we explore the concept of hands-on learning and its relevance in business education. Read this post to learn more about real-world examples and specifically how SimVenture software takes full advantage of this pedagogical approach.

What is hands-on learning?

Hands-on learning, often referred to as experiential learning, is an educational approach where learners actively engage in real-world tasks rather than passively consume information through lectures or reading. This method gives individuals greater opportunity to understand and apply theoretical concepts in practical scenarios, enhancing retention, comprehension, and problem-solving skills.

American psychologist, David Kolb, developed a four-stage learning theory that highlighted the benefit of combining concrete experience, reflective observation, abstract conceptualisation and critically, active experimentation. In recent years, a Research Scientist and lecturer specialising in adult and vocational education, Thomas Howard Morris, has written extensively about Kolb’s work.

By learning through doing, students can bridge the gap between knowledge and action, gaining valuable experience that prepares them for the complexities of the business world.

Hands-on learning is especially effective in business education because it mimics the dynamic, unpredictable nature of real-world business environments. Learners can test their strategies, make decisions, and see the consequences unfold in real-time, leading to deeper understanding and insight.

When brothers Peter and Paul Harrington founded SimVenture, their philosophy and vision was to develop digital business and entrepreneurship learning tools that provided authentic and engaging learning experiences. The first SimVenture business simulation was launched in 2006 and soon after attracted both worldwide attention and prestigious learning awards.

The benefits of hands-on learning in business education

The benefits of using an experiential approach for business education include:

Real-world problem solving

Hands-on learning allows students to apply theories to practical business problems. Whether it’s managing cash flow or developing a new business idea, learners face challenges like those experienced by real-world entrepreneurs and managers.

Enhanced critical thinking

Through immersive simulations, learners are required to think on their feet, adapt to changing market conditions, and make informed decisions. This kind of experiential learning encourages deeper cognitive engagement, fostering creativity and critical thinking.

Immediate feedback and learning from mistakes

One of the most valuable aspects of hands-on learning is the opportunity to learn from mistakes without real-world consequences. In a simulated business environment, such as those provided by Evolution, learners receive immediate feedback on their decisions, allowing them to refine their strategies and approach.

Increased engagement and motivation

Active participation in business simulations boosts learner engagement. Instead of passively absorbing information, students are actively involved in the decision-making process, making learning more enjoyable and motivating.

How SimVenture supports hands-on learning

At SimVenture, we believe that hands-on learning is the future of business education, and doing this by harnessing the power of technology allows far greater opportunities for educators and learners alike.  That’s why our two education technology platforms – Evolution and Validate – have been developed to provide learners with immersive, practical experiences that develop critical business skills.

Evolution: Master the fundamentals of running a business

Evolution is an advanced online business simulation that allows learners to step into the shoes of a business manager. Designed to mirror real-world business operations, Evolution covers all the key areas of business management, including marketing, sales, finance, and HR.

Hands-on learning with a business simulation. Here three Oxford University students sit around a laptop deciding their next move in the online business simulation game, Evolution.

Learners using Evolution, working independently or in teams, are tasked with making decisions on everything from product pricing and staffing to marketing campaigns and financial investments. Each decision impacts the business, providing immediate feedback that helps learners understand the cause-and-effect relationships within a business ecosystem.

With Evolution, learning is brought to life, enabling learners to make strategic decisions and experience the outcomes in a risk-free environment.

Key features of Evolution:

  • Manage a virtual business and make real-time decisions
  • Analyse market trends and adjust strategies accordingly
  • Learn to manage business risks and opportunities
  • Gain insight into the interconnectivity of business functions

Chris Mahon used SimVenture products within the Nottingham University Business School for over ten years with thousands of students. When asked to share his experience he said, “Evolution offers a robust and realistic platform to integrate theory and practice, essential for entrepreneurship education.”

“Evolution offers a robust and realistic platform to integrate theory and practice, essential for entrepreneurship education.”

Chris mahon

Validate: Validate your startup idea before launching

For aspiring entrepreneurs, Validate provides a user-friendly platform to test and refine startup ideas. Validate guides learners through the process of developing a business idea from concept to market-ready validation. Whether you’re testing the feasibility of a new product or fine-tuning your target market, Validate ensures that learners can critically assess and improve their startup ideas before investing time and resources in real-world execution.

Three people with three laptops in front of them, all using the startup ideas platform, Validate. This shows hands-on learning in enterprise education.

Through interactive exercises, users gain insight into customer discovery, product-market fit, and financial viability. The hands-on learning experience is invaluable, particularly for entrepreneurs in the early stages of business planning, helping them avoid common pitfalls and make more informed decisions.

Key Validate features include:

  • Build, refine, and validate business ideas
  • Engage with real-world tools like Business Model Canvas
  • Plan, store and analyse market research and customer feedback
  • Share an attractive and customisable startup portfolio with stakeholders

By using Validate, learners acquire essential entrepreneurial skills, empowering them to confidently turn ideas into viable business ventures with a clearer understanding of potential challenges and opportunities. Professor Tom Cooney uses Validate at the Technological University Dublin, and when asked in 2021 about the value of the technology, he said: “The impact was possibly the strongest in my 30 years of teaching. The students bought into it and started to write far more than I had intended or envisaged and they got engaged in it far beyond my expectations. We ended up with business plans, business ideas and presentations that were far superior to anything I have done in previous years.”

“The impact was possibly the strongest in my 30 years of teaching. The students bought into it and started to write far more than I had intended or envisaged and they got engaged in it far beyond my expectations. We ended up with business plans, business ideas and presentations that were far superior to anything I have done in previous years.”

PROFESSOR TOM COONEY

The future of business education is hands-on

In an increasingly complex and competitive business environment, hands-on learning has become a game-changer. Rather than passively absorbing information, students need opportunities to apply their knowledge in practical, real-world situations. This is where our digital learning solutions at SimVenture come into play, offering learners an immersive, interactive platform to develop business acumen and entrepreneurial confidence.

Through these experiential business learning tools, educators can foster critical thinking, creativity, and problem-solving skills that go beyond the classroom, equipping students with the tools they need for success. Whether you’re looking to master business management with Evolution or develop a startup idea with Validate, our solutions provide an essential hands-on learning experience.

Embrace the power of experiential learning with SimVenture and prepare your learners so they will thrive in the world of business today.

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