In the Simulation Centre simulation/practical training is as close as possible to the real thing, but no money and no actual products/services change hands. The simulated economy results in a natural flow of typical business operations. This ensures that students must respond to the external or incoming communications (e.g. paying an account or processing and order). They must also generate internal operations (e.g. processing salary slips, engage in marketing activities, pay over unemployment insurance funds (UIF) and pay-as-you-earn taxation (PAYE) amount to avoid penalties) to ensure the continued existence of the business.
Benefits of the Simulation Centre for students are:
- · Skills orientated training
- · Applying classroom theory
- · Gain entrepreneurial skills
- · Better equipped for the working environment
- · Development of key skills e.g. teamwork, communication skills, crisis management, decision making etc.