Business Simulation for Experiential Learning in Commerce Mrs. Tamhankar Shubhada1 1Associate Professor, Head Department of Business Practices, Symbiosis College of Arts and Commerce, Pune Online Published on 24 March, 2023. Abstract Effectiveness of commerce education depends on minimizing the gap between theory and practice. Use of tools such as case studies based on real life examples, guest lecturers of industry experts, industrial visits etc. help to reduce this gap. Getting internship or summer placements may be the best method for learning practical application. However, it is not always possible for every commerce student to get such opportunity. Therefore, use of simulation technique to facilitate experiential learning plays a very important role in getting practical exposure, as the student learns by doing things. This research is based on a simulation exercise conducted by the researcher for third year students of commerce. The main objective of the simulation exercise was to make students learn actual application of business knowledge acquired by them while perusing their B.Com. This exercise also helped the students to use and develop their entrepreneurial qualities and skills. The exercise was conducted for 5 days, where students were required to form teams, design a product, prepare a business plan, make actual production and sell the product. This research paper is based on the feedback taken from participating students, observations of entrepreneurs, practising professionals and senior teachers who worked as mentors for the teams and also judged the teams on the basis of Cost effectiveness, Creativity/Innovation, Marketing, Team effort, Maintenance of records, financial management, and overall management and administration. Top Keywords Business Simulation, Exercise, Experiential Learning, Commerce Education, Skill Development. Top |