Management simulation exercises — Insight into their use in the educational process

Many years have in education dominated theoretical information and knowledge transmission and relatively little (or no) attention has been paid in practical experiences, creativity and innovation. However, in current dynamically changing and by information and technologies supersaturated environment becomes creativity an important determinant of the success of organizations because of its ability to generate new/innovative ideas, products, and solutions. Educational institutions are facing a new challenge - to prepare students - the future workforce - so that they are able to adequately or creatively address the problems and challenges, think critically and unconventionally (out of the box), act quickly and efficiently. The paper summarizes existing business simulation literature and provides some authors' experiences and outputs of the research on students' attitudes to the use of business simulation in education as a “innovative” teaching method.