Principle of primary school fudge sales turns a student into a winner in simulation game
The Post-graduate Diploma in Management will this year, for the fifth time, be presented by the Potchefstroom Business School. This programme was designed to equip the student with the necessary practical experience and management skills. Experts, also from practice, form part of the staff who will lecture on this programme. Prof Raymond Parsons will this year present Management economics, and Prof Berrie Stoop will present Accounting and Finances.
The diploma is very popular among graduate students and they especially enjoy the practical approach, as well as the subject Implementation of strategy, wherein they complete a business simulation module, named Simventure. The facilitator of this programme, Herman Thom, provides 10 case studies to the students, each with unique challenges requiring specific thought processes to successfully complete them. “Students are encouraged to think organically (rather than linear) and through this process they discover how subjects interconnect; rather than seeing them as stand-alone issues”. According to Mr Thom, the NWU is also the only university in South Africa that offers this specific business simulation as part of tertiary education.
In 2013, two students completed the simulation game with a high degree of success. The winner ascribed her success to the principle that she applied to her fudge sales when she was still in primary school, which is to never purchase more ingredients than possible with the amount of money available, no matter how great the demand. It was a winning recipe for sure; not only for her fudge, but also to be able to be the winner of the Simventure business simulation game.
In this subject, Implementation of strategy, the skill to determine the feasibility of a business is instilled. During the implementation of a business’ strategy, a business plan will also be compiled. This interesting subject, as presented by Mr Aloe Meintjies, also exposes people to perform practical market analyses and business analyses that apply to the entrepreneur.
The NWU PBS is very satisfied with the number of students that have been accepted for 2014, and the expectation is that 80 will register. A welcoming function will take place on Friday 31 January, where Marius de Beer, an alumnus, will address the students.