Purpose: The purpose of this study is to analyze learning assurance measures derived from a business simulation as part of capstone business strategy courses delivered via distance learning (DL) compared to traditional classroom (on-ground [OG]) delivery modes using experiential learning theory. Design/methodology/approach: A sample of 595 undergraduate capstone business students from 21 course sections taught over a four-year period in a medium-sized private master's level college is investigated. Variables included learning assurance measures from a competitive online simulation (GLO-BUS), gender, business degree major, capstone course grades and cumulative grade point averages. The analytic strategy included correlations, linear regressions, multiple regressions and multivariate analyses of variance. Findings: Results reveal that there are significant differences in learning assurance report (LAR) scores, gender differences and differences between academic majors based on delivery mode (OG versus DL). Simulation performance was higher for DL students, although the relationship between simulation performance and final course grades was not significantly different for OG and DL cohorts. Research limitations/implications: To the best of the authors' knowledge, implications for courses, programs, curricula and learning assessment are considered. The strengths (actual performance measures) and potential limitations (e.g. possible deficiency of measures) of LAR scores are discussed. Originality/value: This research compares OG and DL modes for strategic management course outcomes using direct assessments, including simulation learning assurance measures, student characteristics, capstone course grades and student grade point averages.