The objective of this paper is to evaluate the effectiveness of strategic management simulations as a learning-by-doing tool so that university students can learn to work in a team, that is, they can enhance their knowledge, skills, and abilities (KSA) for effective teamwork. The authors have carried out an analysis of the effect of strategic management simulation on the teamwork KSA with a group of undergraduates studying in the School of Business. The results show that teamwork KSA can improve and that the initial knowledge of teamwork KSA, at the individual level, is the only factor which conditions the students' learning. Initial knowledge of the teamwork KSA and the spread of this knowledge within the team are not a determinant influence on the learning-by-doing of the individual. Neither are features such as intelligence, personality, attitude to teamwork and teamwork self-efficacy, both in terms of the individual as well as the team.