Financial Services

Prospective Recipient: Anna Maria College

50 Sunset Lane, Paxton, MA

 

Amount Requested: $475,000

 

Explanation of Project, including purpose and why this is a valuable use of taxpayer funds:

When Anna Maria's business students graduate and enter the fast-paced world of management, they need to have a skill set that lends itself to problem solving, analytical analysis, and decision making "A Business Simulation Laboratory", BSL, will enhance these skills by bringing real-world examples into the classroom environment. Current education models indicate that when theory and real-world experiences are brought together through simulations, the learning experience is enhanced. Students are motivated to learn more when they become an active part of the learning process and must address real-life problems and situations.

There are numerous advantages to having a BSL. With such a space we can:
1. Simulate a real-world environment in such a way that our students have a much richer understanding of the business curriculum,
2. Engage students and enhance the learning process by providing them with real-life simulations,
3. Provide students with the understanding of how emerging technologies fit into today’s business decision process,
4. Use the lab as a recruitment tool for new students and faculty,
5. Provide workshops and training to local businesses, thus enhancing the competitive edge of the regional economy.

The design of a BSL is critical to its success and must provide a learning environment that maximizes the technology. The room would have state of the art hardware, access to databases and simulation software programs, all of which deliver a working knowledge of the tools and techniques used in industry today. While the cost can vary substantially, an estimate from a reputable vendor indicates that we could anticipate a one-time cost of $475,000 for a lab to handle 30 students