In many business courses, computer-based simulations are becoming a popular choice of pedagogical technique, yet research is only beginning to consider how these simulation games impact student outcomes. In this study, the author investigated individual perceptions of simulation team dynamics and their relationship to student affect regarding the simulation as well as simulation performance in a sample of 172 responding students. The results showed that a student's affect regarding the simulation game was influenced by student team cohesion and student team independence. Alternatively, student simulation performance was influenced by team heterogeneity, opportunistic practices, and hypothesis-driven thinking. These findings encourage instructors to consider thoughtfully the outcomes they want students to experience when structuring student teams that will participate in simulation learning games.