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Education in India has gone through a sea change over the past decades. From blackboard teaching to technology enhanced pictorial teaching, we have come very far. The approach in MBA education has been revised to ensure that students analyse and discuss various case studies, apart from gaining a classroom understanding of the theoretical concepts. The companies today want managers, who can handle uncertain business conditions as skilfully as they handle the usual business problems.
Business brainwave
Having faced similar issues, IIM-Kozhikode graduates, Akash Goel and Hitesh Bhagia, along with Akshit from Delhi College of Engineering, decided to start a venture that would cater to the fast growing need of innovative and experiential learning solutions to management students across the country. In 2010, the trio created LearnBiz, an e-learning firm specializing in the domain of business simulation games. While studying management, Goel and Bhagia, played some foreign simulation games. They realised that it was a brilliant way of learning. However, the usage of such experiential tools was restricted, given their expensiveness. This led to LearnBiz, an affordable replication of the business simulation games they played. “Do It. Learn It.” - That’s the motto at LearnBiz.
Gaming advantage
The idea of simulation games is popular in Western countries but did not have a presence in India. Business simulation games help students practise their classroom concepts in a simulated competitive environment. For instance, a student can be in-charge of a virtual company and make decisions based on classroom learning. The games also tests students in various dynamic scenarios, which may arise as a result of their own actions The best way to learn is to try out business strategies in the simulated world. One can see what works and what doesn’t.
Business edge
LearnBiz games focus on individual subjects, as opposed to the existing foreign broad based strategy games. Also, it is the first Indian player in this domain. LearnBiz is also the first to create automated players based on Artificial Intelligence. Students can compete online against these players and hone their learning. Finally, the icing on the cake, is that their products cost a fraction of their competitors’ prices.
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Revenue sources
LearnBiz is an online business, where institutions may directly interact with them and purchase game licenses. Additionally, students may register online and participate in tournaments for a nominal fee as the focus is on driving volumes. In order to attract customers, LearnBiz organises special tournaments for students to compete with each other. It offers prize money to
the winners.
Looking forward
LearnBiz has received an extremely positive response for their products. It is currently in talks with a prominent management education body in India and a Community college wanting to use the simulation games as part of its distance learning programs in Sri Lanka and Philippines.
As of now, the focus is on large institutional tie-ups. The plan is to reach out to the 2000 odd B-schools in India, and help them realize the value of simulation learning. In the coming 5 years, LearnBiz plans to reach out to 20% of the 4 lakh students passing out from MBA programs each year. In addition, they would also like to make a global foot-print.
With a dynamic trio at the helm of affairs, nothing seems difficult.
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written by Ravi Shanker, August 21, 2011
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Explore the same in below blog.
http://opportunityineducation.blogspot.com/