From Action to Judgement: Experiential Learning Processes in a Business Simulation Environment

Abstract

This study examines how postgraduate students develop decision-making capability through experiential learning processes within a business simulation environment. While simulation-based learning is widely used in business education, there is limited empirical insight into how learners internalise decision-making through experience, feedback, and consequence. This research focuses on student-reported learning processes rather than performance outcomes, providing insight into how judgement develops through repeated decision cycles. The study draws on survey data collected from master’s students enrolled in an 18-credit business analytics simulation module incorporating SimVenture Evolution. The survey captured quantitative measures relating to perceived realism, confidence in decision-making, preparedness for complex business challenges, risk-taking orientation, and perceived development of judgement, complemented by open-ended responses. Findings indicate that students experienced the simulation as a realistic and demanding decision environment requiring trade-offs under uncertainty. Quantitative results show increased confidence and preparedness, while qualitative analysis highlights a learning process characterised by action, feedback, and visible consequences. Students consistently reported that learning emerged from observing the outcomes of their own decisions, with both successful and unsuccessful outcomes prompting reflection and adaptation. The iterative structure of the simulation enabled learners to refine their strategies across successive decision cycles. The study contributes empirical insight into how experiential learning processes operate in simulation environments and demonstrates how consequence, iteration, and reflection support the development of judgement in complex, uncertain decision environments.