2023-2024 / GEST0193-1

Business Simulation


30h Mon. WS

Number of credits

 Bachelor in economics and business management2 crédits 
 Bachelor in business engineering2 crédits 
 Master in management, professional focus in law and management2 crédits 


Anne Bils, Vincent Compagnie, Wilfried Niessen

Language(s) of instruction

French language

Organisation and examination

All year long


Schedule online

Units courses prerequisite and corequisite

Prerequisite or corequisite units are presented within each program

Learning unit contents

The simulation game consists of 5 teams of 5 students each. Each team represents a company on a market, and competes with the four others. The students make up the board of the company.
The game lasts 4 days. The first half-day is devoted to presenting the game and briefing all participants. Each team makes 12 decisions, which corresponds to one decision per quarter for 3 years. According to its decisions, and the decisions of competitors, the company receives a quarterly result sheet.
After 3 simulated years of company life, the board has to present their results to their partners (shareholders, bank, works council). In the game, those partners are represented by all participants. The decisions of each team are analysed and synthesized in a final report drawn up by the organizers.

Learning outcomes of the learning unit

This course aims at helping students (working in teams) :
- discover the interaction between the major functions of a company (production, finance, marketing, human resources);
- learn how to define policies, infer objectives & compare results with objectives;
- train at decision-making.

Prerequisite knowledge and skills

FIN 505 Accounting & Finance
SC 529 Logistics and Production
MKTG 552 Marketing
RH 132 Staff Management

Planned learning activities and teaching methods

Mode of delivery (face to face, distance learning, hybrid learning)

Face-to-face course

Additional information:

The game is organized in Banneux during four days from 8.30 a.m. to 6 p.m.  A € 25 fee is to pay.

Two simulations are organized each year : the first one end of October and the second one mid March (see agenda for precise dates).

The repartition between both simulations will be done before the first game.


Recommended or required readings

A leaflet with the rules of the game will be available on -line one week before the game starts.
It should be read carefully .

Exam(s) in session

Any session

- In-person

oral exam

Continuous assessment

Additional information:

1st session assessment
Continuous assessment of each team's performance; written report and presentation.

2nd session assessment
For the second session (provided that the student has participated in the simulation during the term), the evaluation corresponds to the analysis of a submitted file (with one or two additional questions) and to defend it orally in August .

Work placement(s)

Organisational remarks and main changes to the course

The note will be known after deliberation.


Wilfried Niessen HEC-Ecole de Gestion de l'ULiège (Bât. N1) email : Wilfried.Niessen@uliege.be
Anne Bils HEC-Ecole de Gestion de l'ULiège (Bât. N1) Tél.: +32 4 2327262 email : anne.bils@uliege.be
Anne Chanteux HEC-Ecole de Gestion de l'ULiège (Bât. N1) Tél.: +32 4 2327261 email : anne.chanteux@uliege.be

Association of one or more MOOCs