FactOrEasy® is a teaching tool that can be used especially for educational purposes. Given the academic background of the development, the simulation is, of course, supported by the results of science and research and its future application therefore includes other uses in these areas.
Education
FactOrEasy® is a teaching tool that uses simulation as a method of experiential learning. Participants in the simulation-based training are guided by an instructor who makes it possible for them to address selected aspects of management, financial management and economics, to critically evaluate the information obtained, to interpret possible outcomes and to propose optimal solutions.
By using the simulation within the training, the so-called tacit component of knowledge is developed in the students, which cannot be obtained other than through practise and which ensures their higher competitiveness and ability to be employed in the labour market.
Students also develop their knowledge based on the feedback provided by the qualified instructors who help them to understand, based on a follow-up analysis and the errors or unreasonable decisions the students have made.
And, last but not least, students will practise team leadership, the need to understand members of the team and also the way in which team decisions can be made. This team experience will help them to open themselves up to new ideas, views and experiences that are often more beneficial than an individual approach.
Science and Research
The FactOrEasy® simulation has been developed on the basis of ongoing studies, research and knowledge acquired in the areas of education, management, decision-making and economics. Due to the academic background of the authors of the simulation, emphasis is placed on using the simulation for research purposes. The simulation offers a simple way to collect data and various options for further analysis. The results of the research can then be of assistance not only in the further development of the simulation itself but especially in the research and development of areas such as behavioural management, managers’ decision-making mistakes, human behaviour studies, behavioural economics and many others.
Find below a chronological list of scientific articles published so far.
List of published scientific articles:
- PROKOP, Michal, ŠVEC, Václav. Flawless Managers: Myth or Reality? In Efficiency and Responsibility in Education 2018. Prague: FEM CZU Prague, 2018.
- ŠVEC, Václav, FLÉGL, Martin, PAVLÍČEK, Josef, PROKOP, Michal, KŘEČKOVÁ, Jana. FactOrEasy®: Do Students Take a Risk? In Efficiency and Responsibility in Education 2017. Prague: FEM CZU Prague, 2017.
- PAVLÍČEK, Josef, ŠVEC, Václav, PAVLÍČKOVÁ, Petra, KŘEČKOVÁ, Jana. FactOrEasy© Game. In Efficiency and Responsibility in Education 2016. Prague: FEM CZU Prague, 2016.
- ŠVEC, Václav, PAVLÍČEK, Josef, TICHÁ, Ivana, KŘEČKOVÁ, Jana. FactOrEasy©: Art and Craft of Management? In Efficiency and Responsibility in Education 2016. Prague: FEM CZU Prague, 2016.
- PAVLÍČEK, Josef, ŠVEC, Václav, TICHÁ, Ivana. Artificial Intelligence in Education: Can the AI Teach Them? In Efficiency and Responsibility in Education 2015. Prague: FEM CZU Prague, 2015.
- PAVLÍČEK, Josef, ŠVEC, Václav, TICHÁ, Ivana, HANZLÍK, Petr. Business Games Powered by Artificial Intelligence in Education. In Efficiency and Responsibility in Education 2014. Prague: FEM CZU Prague, 2014.
- ŠVEC, Václav, PAVLÍČEK, Josef, TICHÁ, Ivana. Playing Board Game: Lessons (not only) for Strategic Management.In Efficiency and Responsibility in Education 2014. Prague: FEM CZU Prague, 2014.
- ŠVEC, Václav, PAVLÍČEK, Josef, TICHÁ, Ivana. Teaching Tacit Knowledge: Can Artificial Intelligence Help? Journal on Efficiency and Responsibility in Education and Science. 2014. Vol. 7, No. 3-4, p. 87-94.
- ŠVEC, Václav. Experience: To Teach or to Reach? Proceeding in Efficiency and Responsibility in Education 2012. Prague: FEM CZU Prague, 2012.