Selling & Finance Diplomas Profit Games and Simulations

Profit Games and Simulations Online Entrepreneur MBA

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Build knowledge in half the time? 
 

4 features. The most important? Absolutely!

ACTIONS speak louder than words

The first step of an effective learning experience is that the learners take action to gain first hand experience of what is being taught. What sounds more rewarding – watching someone talk about financial decisions, or ACTUALLY do them yourself?
The pedagogy is more effective when you act on tests, tasks, issues, questions and decisions giving rise to further actions, questions, curiosity and interest. Rather than just consuming knowledge through videos or written content, learners take action and experiment with what they learn resulting in increased knowledge retention rates.
See evaluation of Harvard among others under Method or below in Comparative studies.

Interaction and immediate FEEDBACK

The program gets you to act in many different ways.
- Before a test, task, question or decision, you search for knowledge in teaching aids, as Facts, dictionary and calculation tools.
- After a decision, you show the changes and answer questions with search for knowledge.
- After some decisions you save and change office on your way to the targets and diplomas.
- You always get feedback after each individual action in these steps. Immediate feedback is a prerequisite of being able to correct thoughts and knowledge, not possible in games with guess-and-try-on, where the algorithms must be hidden or else the competition is over.

Show the CONTEXT

The feedback must also show the answer in its greater context especially in economics and finance with complex structures and patterns.
In contrary to videos, teaching and exercise books, where every exercise is an isolated island without the opportunity to show the solution to a calculation and how that affects the business in total in various reports and key figures. Thus it is difficult for you too. You need ProfitGames to act and see consequences, contexts and learn.

Active spaced learning

How long does a course take? Give it a quarter at a time and reflect.
The learning time is individual but will be much quicker per time spent in ProfitGames.  
- But you should spread it over time.   
“Binge" learning is what students do when they cram for a test. It is better to spread the learning over time. Building new memory cells requires that you shift between activities and rest.
See evaluation of Harvard among others under Method.


Active Learning?
 

Comparative study: Active learning

In a study the Proceedings of the National Academy of Sciences (PNAS) conducted the largest and most comprehensive review of the effect of active learning on STEM (Science, Technology, Engineering and Mathematics) education. Students in a traditional lecture course are 1.5 times more likely to fail, compared to students in courses with active learning.
A graph of how students performed in active learning and lecture courses: The horizontal axis is the failure rate, and the vertical axis is the relative number of courses with that failure rate. Freeman et al, PNAS.

a traditional lecture course are 1.5 times more likely to fail, compared 
		to students in courses with active learning

The researchers behind the report in PNAS also point to the need for studies on which forms of active learning are most effective. A review from 2013 of ten commonly used learning techniques revealed that the majority only to a very limited extent strengthens student learning. Of the techniques examined, only two were judged to have good potential for sustainable learning.
1. One was to distribute active learning over time, distributed practice.
2. The other was test-based learning, practice testing.
They have been proven in recent research in many countries in terms of
1. spaced and
2. test-based learning.
The research is widely known, but not spread to and used in school.

See more about testing and spacing in Method.

ProfitGames is accordingly built on testing through decisions, questions, tasks and scenarios.

Action, feedback, context and reflection

New knowledge is created by putting experiences to tests repeatedly. Activity always wins over passivity. When you learned to ride a bike, you proceeded by trial and error, fell, picked yourself up and tried again. It was about interactivity and feedback. As an example learning how to drive a car and finding your way in the traffic requires a processing of experience. That is learning by doing and also learning by failing, to be able to do a wrong maneuver and immediately see the consequences preferably in a simulation.
On the way to a diploma you are confronted with and decide about events, adventures, decisions, tasks, quizzes and feedback in right doses. You get immediate response in report pictures etc. which visualize and put your experience into its financial context in a way which exercise books cannot do.
Books in the cloud are no improvement to books on paper according to some studies.
You solve problems and get immediate response in report pictures which visualize and put 
				your experience into its context and financial interrelationships
				which coourse literature and exercise books cannot do
Insufficient
In a classroom the teacher can contribute with questions, be a coach and summarizer getting the students to find the course "the best I have experienced". Let the students do the work and try to answer their own questions. Do not be tempted to help too much. The students are responsible for their learning building on practice and reflection. Teachers and educational media are to support them. The students are responsible for their learning building on practice, 
						repetition and reflection. Teachers and educational media support them 
						by their teaching

Practical tools

The technical skills of simulation and calculation tools with reports and learning media, Facts, can be used outside the courses, which gives totally other conditions of having great use of the knowledge and remember it. You shorten training time and extend knowledge.

Gamification

A popular concept within active learning is gamification, which is related to "game" and should meet some requirements:
- There are targets specified in a scorecard.
- You get immediate feedback, which is a prerequisite for learning.
- You see the end results in a scoreboard which is built on during the years that your login is active.
- Other key elements include awards as diplomas with the possibility to reach higher levels.
- And preferably a social component that involves being able to discuss and compare with other participants.

OS! In classic business games as an example, the gamification is the main thing, not the learning.

To use a few more concepts, our courses are a mix of serious games, simulation based training, purposeful games, focused games, beneficial games, interactive based training, problem based training, case based training, game based training, scenario based training,  competency-based learning and blended learning at teacher-led instruction.


When is the pedagogy most effective?

See the fundamental patterns and structures of 
					finance to understand the whole and basic picture

See the structure

To create long term memory mnemonics is about creating the structure with memory cells to put information into to become knowledge. You learn as soon as possible the fundamental structure of finance by putting your experiences into their right context.
Understanding context by seeing ongoing how the greater context and the big pictures are 
					related to the level of details

See the patterns in Action-Based learning

Colour and configuration is a recurring theme to facilitate the understanding. The human brain needs to see patterns. You do it in interaction with reports, key ratios, profitability charts, cash flow and calculation models.
Practices and games are based on an 
			interaction between the features and the whole, between the 
			parts and the whole structure in order to provide coherence

See the context

You see immediately how a specific action of yours at the level of detail affects the larger context. Your single decision, not made in clump, affects the company's accounts and key ratios. Practices and games build on continuously showing the connection between the detail and the whole in overall images.


What makes MOOCs not enough?

As an example you no longer have to be at famous universities in the United States to get access to all their lectures and instructional videos. They are freely available on the Internet as MOOCs (Massive Open Online Courses). Although it costs almost a fortune to enroll prestige universities. Some of them know that quality teaching has to provide much more than MOOCs which only have filmed lectures or books in the cloud.

Instead, it has to be about doing, experiencing, reflecting and applying in Active Learning. New generations of students make demands to come away from the old forms. An elimination process has begun. Schools and universities that cannot meet the requirements of the students will vanish according to some assessors.

Active learning by putting experiences to tests repeatedly

According to Confucius: I hear and I forget much;  I see and I remember much;  I do and I understand much.


Do I have to learn?

Twenty years ago we laid approx. 25 minutes a week on "intentional" learning, mainly courses. According to a report from the World Economic Forum, many will have to spend much more time learning new competencies. Around 50% will have to spend 100 hours a year to build new skills and 25% over 400 hours per year. That is 2 - 10 hours a week.

Instead, we spend a great deal of the time on mobile phones, irrelevant emails, messages and social media. Leading to that for the past 10 years, annual GDP growth averaged low 1.5%, while it was 3.5% before. Productivity has fallen dramatically. And that in a time when technology and AI develop fast. Within 5 years, it is estimated that 40% of our jobs have disappeared or changed.

We simply all need to switch up and spend more time learning to keep us employable. There is a term called the "5-hour rule". Many successful people such as Bill Gates and Elon Musk spend at least 5 hours per week reading, reflecting and experimenting on new knowledge and ideas. We will all need to apply at least the 5-hour rule.

Research from LinkedIn shows that those who spend more than 5 hours on intentional learning a week are:
39% more productive.
23% more likely to get additional responsibilities.
47% less stressed.
21% happier at work.

Continuous learning becomes one of our most important competencies in the future.
(Origin Johan Skoglöf)


Trends in the finance function?

Use ProfitGames to meet a changed future.

* Digital transformation is changing entrepreneurship and employability.
- Account coding of business transactions will be taken over by AI in five to ten years.
- In addition to creating accurate financial reporting, there will be more focus on analysis and change.
* Companies decentralize responsibilities and powers.
- Business education is carried out in the most efficient way.
- Interest will be more focused on analyzing operations in simulations and calculations.
- Many manual processes with risks and errors will be replaced by accurate tools.
* Economics gives you the necessary knowledge you will benefit from your entire life.
- You will be stronger in the competition that is global.

Profit Games Financial Tools
 (C) 1990-2019

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