NEWARK, Ohio, October 26, 2016 – Students taking instructor Amy Stahl's Accounting 232 classes at Central Ohio Technical College (COTC) are taking on the world this semester. The students in the cost accounting classes on the Newark and Knox campuses are playing the Global Business Simulation Strategy Game (GLO-BUS) and are using what they have learned in class to compete against teams from colleges and universities across the globe.
"One of the initiatives COTC is working on is how to get students more involved in active learning in the classroom," said Stahl. "So, I went in search of something we could do that would help students better understand all of the decisions that managers have to make in regards to cost of products and selling prices. GLO-BUS has been a great way to do that."
GLO-BUS is an international business simulation where the focus is on competitive business strategy. In this instance, the completely online exercise allows teams of students to run a digital camera company. Company operations parallel those of actual digital camera companies. Just as in the real world, companies compete in a global market arena selling digital cameras in four geographic regions—Europe-Africa, North America, Asia-Pacific and Latin America.
Company co-managers must make decisions relating to research and development, component usage, camera performance, product line breadth, production operations, work force compensation, outsourcing, pricing, sales and marketing and finance. The challenge is to craft and execute a competitive strategy that results in a respected brand image, keeps your company in contention for global market leadership and produces good financial performance as measured by earnings per share, return on investment, stock price appreciation and credit rating.
"Each week the students have to make decisions, and the decisions they make influence their world rating," said Stahl. "They make approximately 60 decisions in a given week. The students in my class are competing against other technical schools and large universities. The competition is fierce. They are playing against schools like West Virginia University, Texas A & M and a university is Brisbane, Australia."
"It can be a lot of work," said 19-year-old Emily Stevens, an accounting technology major. "You have to make so many decisions, and one little thing can change your whole company's rating."
Stevens' team has ranked as high as number 13 in the world in the competition. Recently, they fell to number 59. Stevens said she is not worried about the world ranking as much as she is about beating the other teams in her own class.
"The competition among teams in class in crazy. To say it's a little competitive is an understatement. It's like a real business," said Stevens. "But, it's fun. I think you can really get a lot out this. You put everything you've learned in all the classes together. You get to see how it all works in a company."
Central Ohio Technical College opened in 1971 and is celebrating its 45th anniversary in 2016. COTC is a fully accredited, public college dedicated to providing high-quality, accessible programs of technical education in response to current and emerging employment needs, as well as encouraging the professional development of students, staff, faculty and administrators to assist them in achieving their maximum potential. COTC is the only technical college in Ohio operating four full-service campus locations: Newark, Coshocton, Knox and Pataskala.