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724837P Understanding and managing a business as a dynamic whole - business simulation game, 5 ECTS cr 
Code 724837P  Validity 01.08.2017 -
Name Understanding and managing a business as a dynamic whole - business simulation game  Abbreviation Understanding a 
Scope5 ECTS cr   
TypeBasic Studies Discipline6337 Economics and Business Administration 
  Grading1 - 5, pass, fail 
Unit Oulu Business School 

ECTS Credits 

5 credits

Language of instruction 

The teaching language is English, but a student may return individual assignments in Finnish if s/he so wishes. The simulation teams may discuss in Finnish, if there are no non-Finnish speaking members in the team.


Autumn Term 2019 - Spring Term 2020

Learning outcomes 

After completing the course, the student will:

-       understand how different areas in business studies are connected in the entity of enterprise functions and in making a profit

-       understand the role of ERP and its meaning in managing a company

-       be able to apply different business analysis tools in planning and managing a business and to understand the essential role of strategy in the process

-       be able to apply various methods of collaboration in a virtual team

A central part of the course is to see the business as a whole: the student will understand why it is not practical to optimize single functions separately and why the management needs to have a holistic perspective of the company.


-       The foundation for this course is a business simulation game that engages the students in real-time decision-making and provides them with various tasks related to various business topics.

-       The participation takes place in small virtual groups, in which the team members (3-4 students) all come from different universities.

-       The thematic core for the simulation is supply chain management and the entity formed by different functions of a company. The relevant themes include several areas of cross-company logistics: purchase, inventory management, delivery, customer relations and the reporting related to these topics. The course emphasizes effective management of the supply chain and the impact it has on the company’s profit and cash flow.

-       During the course, students are also introduced to the dynamics of supply chains in company networks, where the students’ company is a part of a network of suppliers, com­petitors and customers.

-       In addition, the course gives an overall picture of the role of a company’s information sys­tems in steering the business as a whole: how the different functions utilize common enterprise resource planning and how the ERP works as an essential tool in decision-making.

-       The theoretical material and the exercises distributed in the course are related to the abovementioned supply chain management and other LITO learning themes.

Mode of delivery 

Online teaching

Learning activities and teaching methods 

Getting acquainted with the theoretical supplementary material  50 hrs

Planning and analysis tasks  60 hrs

Business simulation game  4 x 6 hrs = 24 hrs

Total  134 hrs (5 ECTS)

Prerequisites and co-requisites 

The course serves as a capstone, bridging together the other modules in the LITO entity. The course provides an overall picture of business dynamics and explains how the different fields in business studies are related to it.

It is recommended that before taking this course, the student has taken at least the following LITO courses: Introduction to Accounting and Financial Management and Basics of Management and Organization.

Recommended or required reading 

Simulation game instructions, description on the simulation environment, self-learning videos, course hand-out and a selection of other articles (announced later).

Assessment methods and criteria 

The assignments of the course are mainly related to the planning of the simulation company operations and to the analysis of materialized operations. These include:

-       developing a business plan

-       analysing the profitability in light of various parameters and reporting these to the different stakeholders

-       various strategic analyses of the company operations and of the competitive situation (SWOT, Pester, bench-marking)

-       calculations related to the company’s basic supply chain and ERP parameters

-       income statement and profitability, gross margin and cash flow analysis (the essential parameters covered on the course INTRODUCTION TO ACCOUNTING AND FINANCIAL MANAGEMENT)

-       market analysis

Furthermore, there will be a written assignment on team dynamics and a team functionality analysis and reflections.

The course includes a compulsory preliminary assignment that has to be completed successfully by a pre-defined date. The instructions for the pre-assignment are given to students who have registered for the course within the registration period.


Evaluation rejected/accepted will be in use. Performance will be rated based on the assignments given out during the course.

Person responsible 

Eeli Saarinen, Lauri-Matti Palmunen


Organizing university: University of Turku

Other information 

Max. 20 students per university in the order of the time of registration in each business simulation game. If there are fewer students from any university, the number of students from the other universities may be increased, so that the total number of students does not exceed 160.

Appropriate registration for a course is obligatory and required for having the course credits registered. No late registrations are accepted.

LITO courses are organised in co-operation with multiple universities. To enable registering credits when the course is completed, it is necessary to transfer data about the student from his/her home university to the university that is responsible for organizing the course. The data to be transferred consists of: name, gender, nationality, e-mail address, personal identification number and the home university. Data that is classified as secret is not transferred. Without a data transfer it is not possible to have the course credits registered.

The latest information about the course is updated and published on the course platform at


Current and future instruction
Functions Name Type ECTS cr Teacher Schedule
registration period has ended Understanding and managing a business as a dynamic whole - business simulation game, only Minor Students  Course    27.09.21 -21.11.21

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