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NJIT Professor Incorporates Internet-Based Business Simulations into Teaching of Management

Marguerite Schneider, an assistant professor in the School of Management, has introduced Internet-based business simulations into her courses. In the capstone courses (Business Policy and Strategic Management), the class works in a virtual reality simulation in which they form teams that compete in the bicycle industry. Firms can go into bankruptcy, enter market segments, and engage in new product development. At the end of the semester, each firm conducts a "presentation to shareholders" and develops an annual report. Schneider recently introduced a new simulation in her Principles of Management course in which students act as investment firms and invest $100,000 "virtual dollars" in a stock-market simulation that is almost real-time. "Today's Internet generation of students seems to learn much from this new learning media," says Schneider. "The amount of learning has greatly surpassed my expectations."