Training Business Simulation Game «Commercial Property Management in a Competitive Environment»

Abstract

The article describes the training business simulation game “Commercial property management in a competitive environment” and a special software module. The suggested business simulation game and the created computer simulator are used for training the students, who study in the field “Expertise and management of real estate property”. Several examples of game scenarios and results are given to demonstrate their application in the training and educational process. The game simulator allows students to obtain the following knowledge: the commercial property management task is cognitively complex; the optimal allocation of costs for the development and promotion of commercial property depends on the objective function, which can be profit or index of profitability; for shopping centers, the optimization problem has a sustainable solution to the opponent’s actions, but such solutions are unstable to the behavior of customers and their preferences; in the case where students select the minimum costs of development and promotion of shopping centers, the profit becomes negative, it explains the necessity of development and promotion of commercial property; in another case – students select the maximum cost, the effect of an “excessive utility” arises. The main result of the game-like training is that students acquire new decision-making skills in the tasks of commercial property management in a competitive environment.