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Definition: Business Simulation is the imitation of the operations and management of a real-world business process, system, organization, competing firms or an entire supply chain over time.
The quality of the underlying model representing the key characteristics of the complex 'real world' is crucial.
BS is used mainly for educational and team development purposes, typically practicing strategic, financial, market or operational analysis, logical and creative thinking, and decision making while at the same time working on personal skills (e.g., collaborating, negotiating), team building, management and leadership development.
Also called Simulation Game, Business Game and Management Game.