The Cambridge Assessment International Education, part of the University of Cambridge, helps prepare school students for pursuing the next step of their education and careers by providing qualifications that are globally-recognized by the world’s best universities and employers.
Created as the worldwide standard for international education, the Cambridge curriculum has a mission to provide educational benefit and foster confident, responsible, reflective, innovative and engaged Cambridge learners through the provision of their programs and qualifications, one of them being the Cambridge IGCSE Business Studies.
With one of Cambridge IGCSE Business Studies’ aims being to enable students to apply their knowledge and critical understanding to current issues and problems in a wide range of business context, this aligns perfectly with what MonsoonSIM has been doing for countless universities and educational institutions worldwide.
As the unique experiential learning pedagogical platform for business studies, MonsoonSIM comprehensively combines and connects business concepts and theories from over 13 interrelated departments. Among them, the topics covered include business and economic fundamentals, business operational management, enterprise resource planning (ERP), logistics and supply chain management (SCM), and data analytics and data science studies, among others.
To show the congruence between the Cambridge business studies curriculum and MonsoonSIM’s business simulation and gamification education platform, it can be seen that Cambridge IGCSE Business Studies covers learning points such as the varying perspectives of stakeholders relating to the business environment, individuals, society, government and enterprise, and also to consider how these parties are able to influence business objectives, decisions and activities. With MonsoonSIM, students and learners operate their “virtual” companies with and against one another in a dynamic environment that emulates the real-world business operations, and this is a perfect learning opportunity to take into account the various stakeholders involved (customers, suppliers, competitors, and more!) before making a decision regarding the strategy or day-to-day running of their company.
Additionally, the Cambridge IGCSE Business Studies also helps develop understanding among the students regarding how the main types of businesses are organized, financed and operated, and how their relation with other parties are regulated. MonsoonSIM offers many modules to apply the knowledge learnt in classrooms and test students’ understanding through the simulation that can be tailored and configured accordingly to fit the classroom topics of the day.
Moreover, the Cambridge curriculum also facilitates the development of interpretation and analytical skills, filtering through relevant sources of information and strengthening their business decisions with data. Learning on the MonsoonSIM platform means that students are exposed to a plethora of data and information to process, whether it be financial reports (balance sheets, profit-and-loss statements, and others) or summaries from other departments within the company, and this facilitates an experiential learning process to filter through the data, extract the relevant ones and integrate them seamlessly into the business decisions.
Whilst it’s true that the Cambridge IGCSE Business Studies curriculum offers exam preparation resources like question papers and mark schemes, MonsoonSIM can help provide a more experiential learning hands-on practice towards the application of business concepts. This does not only deepen understanding in a way that further prepares students for the final exam, but also provides the chance to develop 21st century soft skills along the way that’s prevalent for success in the job market and equips students with capabilities beyond the ones tested in the final exam.