Make your school stand out with innovations in education in business courses

Business education has been in the curriculum of higher education institutions, secondary schools, and further education colleges for many years. So have the teaching methods. Many programs still rely on the traditional model of teaching, that is not sufficient for the students raised in the digital world anymore. By incorporating new approaches and innovations in education, you can help your school stand out in an increasingly competitive educational environment.

Innovations in education, especially in business courses, allow students to link the theoretical knowledge with real life. Students take more responsibility for their learning and understanding of the business concepts. What’s more, solving real-life challenges, meeting business people, growing their own business ideas build interactivity and engagement. For both sides – students and teachers. Below are five ways to enrich your business courses with innovations in education and bring them to life.

Cross-disciplinary projects

Business concepts often intersect with other subjects like economics, technology, and marketing. Why not harness this potential by encouraging cross-disciplinary projects? For example, students could partner with a computer science class to develop a business idea for an app or collaborate with a marketing class to design a campaign for a fictional product launch.

Not only do such projects encourage teamwork, but they also give students a more holistic understanding of how various business functions work together. These collaborative ventures mimic the real-world environment, where marketing, finance, and operations departments must cooperate to achieve business goals.

Cross-disciplinary projects also allow students to gain hands-on experience in areas outside of business, such as graphic design, software development, or data analysis. This broadens their skill sets and prepares them for the increasingly interconnected nature of modern businesses.

Useful websites:
Canva – create graphic designs for free (presentations, leaflets, social media posts, posters, landing pages layouts etc.)
SITE123 – free landing page templates
MailerLite – free landing page templates

Business simulation games

One of the most impactful ways to teach business is through virtual business simulation games, where students manage their own virtual companies. These simulations allow students to make real-time decisions about pricing, hiring, and customer acquisition, while competing against each other in a controlled environment. Through simulations, students learn to apply business concepts practically and observe their decisions’ outcomes over time. They experience first-hand how market forces and competition can affect their business strategies. Undoubtedly, virtual business simulations make theory come to life, reinforcing what they’ve learned in lectures and helping students develop essential decision-making skills.

In Revas Business Simulations, for instance, students manage virtual firms in specific industries, from running a travel agency or transport company to managing a beauty salon (19 industries available). Each decision impacts various aspects of the business, from customer satisfaction to profit margins. By competing against classmates, students gain a better understanding of how their choices compare to others, fostering a deeper understanding of business dynamics and critical thinking.

What makes this approach even more powerful is the ongoing feedback mechanism. Every decision yields immediate results, allowing students to adjust their strategies and try again, much like how real businesses operate.

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Video business projects

Videos offer a fun and creative mean to express understanding of business concepts. A video project could take many forms, giving students the freedom to explore different angles. For instance, students could interview a local entrepreneur, which not only builds their network but also enhances their communication skills. Another option is to record a mock live news coverage, where students role-play business reporters covering a company’s performance or a major market event. Furthermore, you could encourage students to create animated videos that explain specific business concepts. For example, they could illustrate how supply and demand work or explain complex financial terms like costs and revenues or stocks and shares. This flexibility in format helps students engage with the material in ways that suit their interests and strengths. It is so rewarding to watch them later and both see how much they learnt and how much fund they had!

Meet an entrepreneur or a business expert

One of the most direct ways to expose students to the world of business is by connecting them with actual entrepreneurs or professionals working in a specific industry. Bringing in experts for face-to-face interactions or online meetings allows students to ask questions and learn from real-life experiences.

Your school can invite a variety of professionals from both start-ups and established companies. While inviting CEOs is an excellent choice, students can also benefit from hearing from HR managers, CFOs, or other key business players. Tapping into your local community network—whether it’s through parents, alumni, or even local suppliers—is a great way to find speakers. Alternatively, LinkedIn offers an opportunity to connect with global experts for a more diverse set of perspectives.

These discussions can go beyond the basics of starting a business, allowing students to hear first-hand about challenges in recruitment, financial strategy, or product development. This exposure helps students see the relevance of the concepts they learn in class to real-world business situations.

Did you find this article about innovations in education for business courses useful? Get in touch with us to find out more about how business simulations game can enrich your business courses.

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Published on

18/09/2024

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