Ever wondered who is the CEO's boss? Well it is the corporate board, that sets the strategy and therefore is the responsible for the long-term competitiveness of the company. Until recently, business management was taught without much attention for the corporate board. If however the objectives of these programs is to teach business comprehensively, including the drivers of competitiveness this is a mistake that must be corrected.
Today, high school business and economics classrooms are transforming into dynamic corporate boardrooms, moving far beyond textbook theories of supply and demand. Through sophisticated simulations and experiential learning programs, students are now stepping into the roles of CEOs and board members, making high-stakes decisions that mirror the complexities of the real-world private sector. This report explores the landscape of these programs, their structure, the critical skills they impart, and the vital partnerships that bring the boardroom to the classroom.
Experiential learning has become a cornerstone of modern business education, with a strong emphasis on providing students with hands-on opportunities to apply their knowledge.¹ Simulated private sector board meetings are at the forefront of this educational evolution, offering a risk-free yet highly engaging environment for students to grapple with the challenges of corporate governance and strategic management.
The Rise of the Simulated Boardroom
The core idea behind these simulations is to bridge the gap between abstract business concepts and their practical application. By taking on roles within a simulated company, students are no longer passive recipients of information but active participants in the decision-making process. This "learning-by-doing" approach has been shown to increase student engagement, knowledge retention, and overall employability.², ³, ⁴, ⁵
These programs are offered in various formats, from in-class, project-based learning activities to large-scale international competitions. They often leverage specialized software that creates a dynamic and competitive market environment.
Key Players and Program Structures
Several organizations and program models are instrumental in bringing these simulated experiences to high school students:
- DECA and FBLA: These career and technical student organizations are leaders in providing competitive business simulations for high school students. DECA's competitive events, for instance, include role-plays and case studies where students are given a business problem and must present a solution to a judge acting as a senior manager or board member.⁸ Their Virtual Business Challenge allows students to operate a web-based business simulation, competing against others in areas like entrepreneurship, finance, and marketing.¹⁰ FBLA also focuses on academic competitions and leadership development, with a strong emphasis on entrepreneurship and teamwork.⁹
- Junior Achievement (JA): A global non-profit, JA has a long history of providing entrepreneurship education, having been founded in 1919. Its flagship "JA Company Program®" was its first program, offered to high school students on an after-school basis. A key component of this program is the election of a board of directors from among their peers, who are then responsible for the company's strategic direction.¹¹
- Virtual Enterprise International (VEI): This program creates an in-school, global business simulation where classrooms are transformed into offices and students into business professionals. Students develop and manage their own virtual businesses, gaining expertise in problem-solving, decision-making, and collaboration in a global context.
- University-Led Summer Programs: Many top business schools offer summer programs for high school students that incorporate experiential learning and simulations. For example, Babson College's Summer Study program immerses students in their "Entrepreneurial Thought & Action®" methodology, where they develop solutions to real-world problems. Similarly, programs at institutions like Fordham University and the University of California, Berkeley, have students develop business ideas and pitch them to panels of experts. Washington University's Gateway to Business program even includes an experiential learning project for a real-world client.
- Classroom-Based Simulations: Outside the USA there is not much. Beyond these formal programs, many educators create their own simulated board meetings and business scenarios. This blog published an article in 2025 on how to run simulations in the classroom, and which platforms and tools to use.
The Anatomy of a Simulation
While the specifics vary, most private sector board meeting simulations share a common structure:
- Team Formation and Role Assignment: Students typically work in teams, with each member taking on a specific executive role, such as CEO, CFO, or Marketing Director. In programs like the JA Company Programme, students formally elect their board of directors.¹¹
- Strategic Decision-Making: The core of the simulation involves making a series of decisions over several rounds or "quarters." These decisions often revolve around key business functions like pricing, production levels, marketing budgets, and research and development investments.
- Performance Analysis: After each round, teams receive feedback in the form of financial statements, market share reports, and other key performance indicators. They must then analyze these results to understand the consequences of their decisions.
- Reporting and Presentation: A crucial element is reporting back to a "board of directors" or "shareholders," often played by the instructor, community volunteers, or judges in a competition setting. This can involve creating business plans, annual reports, and formal presentations.⁴
Learning Outcomes: Forging Future Business Leaders
The educational benefits of these simulations are extensive and well-documented.², ³, ⁴, ⁵, ⁷
- Practical Skill Development: Students gain hands-on experience in financial management, market research, and strategic planning. They learn to read financial statements, manage budgets, and understand the interplay between different business functions.⁷
- Enhanced Critical Thinking and Problem-Solving: The dynamic nature of the simulations forces students to think critically, analyze complex data, and adapt their strategies in response to changing market conditions and competitor actions.³, ⁴
- Development of Soft Skills: Working in teams to run a company fosters crucial soft skills like communication, collaboration, negotiation, and leadership. Students learn to make decisions as a group, resolve conflicts, and present their ideas persuasively.³, ⁴, ⁷
- Financial Literacy: By managing virtual companies, students gain a deep understanding of financial concepts like profit, expenses, and budgeting, which are often missing from traditional education.¹, ³, ⁷
- Entrepreneurial Mindset: These simulations encourage an entrepreneurial way of thinking, teaching students about risk-taking, resilience, and innovation in a safe environment.³, ⁷
The Power of Partnership and Real-World Connection
The most effective programs often involve partnerships with the local business community. When industry professionals act as volunteer mentors, guest speakers, or judges for competitions, they bring a level of authenticity and real-world insight that cannot be replicated in the classroom alone.³ These interactions also provide students with valuable networking opportunities and career exposure.
Some schools take experiential learning a step further by facilitating student-run businesses that serve the school or local community. These enterprises, which can range from in-school cafes to manufacturing services, provide students with direct experience in all aspects of running a business, from operations and finance to customer service.
Conclusion: A Sound Investment in the Future
Simulated private sector board meetings and the broader category of business simulations represent a paradigm shift in how economics and business are taught at the high school level. By placing students in the driver's seat of a company, these programs demystify the corporate world and provide a powerful, engaging, and effective way to learn. They equip students not just with theoretical knowledge, but with the practical skills, critical thinking abilities, and collaborative mindset necessary to succeed in the global economy.³, ⁴, ⁵ As these immersive experiences become more integrated into curricula, they are shaping a new generation of confident, capable, and business-savvy leaders.
Endnotes
¹ Toronto District School Board. "Business and Experiential Learning." Accessed September 29, 2025.
² Virtonomics. "Here are 6 reasons why business simulation games benefit students." Accessed September 29, 2025.
³ Cesim Team. "Empowering high school education through business simulations." Cesim, December 11, 2024.
⁴ Cadotte, Ernie. "Simulations Spark Engagement and Real Learning." AACSB, September 7, 2022.
⁵ Cesim. "How Business Simulations Benefit Secondary Education." Accessed September 29, 2025.
⁶ Lalley and Miller (2007), as cited in Cesim, "How Business Simulations Benefit Secondary Education." Accessed September 29, 2025.
⁷ Cesim. "Secondary Education Business Simulations Benefits | Cesim." Accessed September 29, 2025.
⁸ DECA Inc. "Competitive Events | High School | DECA Inc." Accessed September 29, 2025.
⁹ Tuinei, Spencer. "DECA and FBLA: Nurturing Business Leaders in Our School District." Provo City School District, February 7, 2024.
¹⁰ Hamilton-Wenham Regional High School. "DECA - High School." Accessed September 29, 2025.
¹¹ Junior Achievement Dallas. "JA About – Junior Achievement Dallas Business Hall of Fame." Accessed September 29, 2025.
