Modeling Innovation as a Process of Design in Educational Business Simulation
AbstractThough appropriate for teaching other business functions, previous methods of modeling innovation in business simulations are not suitable for teaching the management of innovation. This paper presents a new method of modeling innovation in business simulations: students use marketplace data in attempts to solve a combinatorial optimization problem. The essential properties of innovation – unpredictability, surprise, path-dependence, and probabilistic success – are produced. The method also provides means for simulating technological advance and for measuring core competencies and innovation.
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