1. Which of the following best describes the purpose of business simulation in the context of strategic management? A. To replace traditional strategic planning methods B. To provide a real-world environment for testing strategic decisions C. To generate profits for the company D. To avoid risks associated with strategic decision-making Answer: B. To provide a real-world environment for testing strategic decisions Rationale: Business simulation allows students to make strategic decisions in a simulated environment that closely reflects real-world scenarios, providing valuable learning experiences without real-life consequences. 2. Which of the following is NOT a benefit of using business simulation in training and development? A. Enhancing strategic thinking skills B. Developing financial literacy C. Limiting decision-making options D. Improving team collaboration Answer: C. Limiting decision-making o