In today's dynamic business environment, effective managerial decision-making supported by data analysis is increasingly recognized as a critical determinant of a company's success. Decision-making simulation games have emerged as a valuable component of economics and management education within academic institutions, fostering an interactive and experiential learning environment. This paper aims to describe and analyze the educational process utilizing decision-making
simulation games designed specifically for teaching purposes in order to enhance managerial competencies. Authors have examined as well existing managerial methods and approaches for skill development, integrating software tools and modern Information and Communication Technology (ICT) methods widely adopted
by Higher Education Institutions (HEIs) and deliver educational courses based on a unique experiential learning model, placing significant emphasis on active participation, critical thinking, and practical application. Experiential learning models have a well-established tradition in education, and contemporary advancements allow these models to be significantly enhanced by integrating the latest ICT solutions and innovative pedagogical techniques. Unlike traditional business simulation games, this simulation uniquely incorporates advanced risk prediction tools, such as Monte Carlo simulations, enabling students to systematically assess uncertainty and evaluate multiple decision-making scenarios interactively. The implementation of simulation games promotes active learning, increases student motivation, and significantly improves understanding by enabling learners to engage directly with realistic management scenarios. The paper introduces theoretical foundations of managerial decision-making, modeling and simulation techniques, optimization, and multi-criteria decision-making approaches. Ultimately, this study underscores the educational value of simulation-based learning environments, highlighting their efficacy in developing critical managerial skills such as strategic thinking, risk assessment, collaborative decision-making, and problem-solving. The findings provide educators, developers, and managerial practitioners with practical insights into adopting and effectively integrating training programs to enhance learning outcomes and managerial effectiveness.

Keywords: Simulation game, Managerial Competences, Educational Tool, ICT, HEI´s.