BUSINESS GAME SIMULATION -Storewars
Following their Christmas break, MonacoMBA students plunged straight back into the world of business by participating in one of the world’s most innovative, sophisticated and well known business simulation games: Storewars. Developed several years ago at INSEAD, the Storewars business simulation has since been run over 700 times in 43 countries. Over 50 top tier firms—including Nestle, Price Waterhouse, Bacardi, WalMart, Tesco, Samsung, Heineken, Novartis, Danone, and Coca Cola -- have used Storewars for tailored corporate courses. Additionally, executives from over 500 companies the world over have attended open Storewars courses. All told, more than 15,000 key management executives, from board level to business unit linked to modern retail, have participated in Storewars so far.
Storewars participants essentially run a business and while managing the firm, its strategy and its resources, they develop an intuitive understanding of business, its functional elements and ways to achieve a strong and profitable position in the market by establishing win-win cooperation. Vast amounts of real market data, sales and consumer behavior research across multiple markets are embedded in the simulation to provide accurate reflection of real market trends. Decision making and negotiating skills are also integral to the Storewars approach, in contrast to many other simulations.
MonacoMBA students are thus a very privileged group—along with MBA students at INSEAD and Harvard-- to be able to challenge themselves in this intensive, three day total immersion directed by Greg Thain, who is not only CEO of Storewars International, but an Adjunct Professor here at IUM as well!
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