MBA by Gaming: MIT Launches Free Online Simulator
Want to learn MBA management skills and strategies for free? Thanks to "Platform Wars," a video game simulator created by MIT’s Sloan School of Management, anyone can learn elements of a business school education by portraying an executive at a video game console manufacturer online.
The simulator has been used for the past four years in business management classes taught by professor John Sterman. A user playing an executive Nintendo, for example, might be tasked with figuring out how how to help the Wii beat out competition from Microsoft's XBox. The ultimate goal is to strategize against your competitor to maximize cumulative profit over 10 years. The player has to make all the applicable decisions to win the market—everything from setting the price of the console to determining the royalties video game makers will pay for the right to produce games for the platform.
“Platform Wars” proved to be so popular at the business school that in late November, MIT—the home of the renowned OpenCourseWare program—decided to make the simulator available to the public on the MIT Sloane Teaching Innovation Resources website. Users can play as an individual or as a class. To fully equip gamers, Sterman is also providing free case studies and video explanations for both students and teachers.
Platform markets “are increasingly common in settings besides video games,” so Sterman says that the skills users can learn through Platform Wars are “applicable in many markets." Figuring out how to ensure your product’s price, features, and complementary products stay competitive is in every business' best interests. After all, we all know what happened in the real-world platform war between VHS and Betamax.