A business simulation is a realistic and engaging learning experience. It is our firm belief that people learn when being motivated, stimulated, and having fun. Our simulations create a spontaneous learning process – people learn without noticing they do!
Why business simulations are so efficient:
A business simulation consists of the following components:
Learning by doing
We believe that people learn more from a personal trial-and-error process than traditional classroom teaching. A business simulation gradually introduces new information to the participants and recreates the workplace environment where they work in teams, make decisions, and experience the consequences first-hand. The format allows participants to learn from their mistakes, make adjustments, and actually test out the “new knowledge” by putting it to use.
Interaction and Engagement
In a business simulation, professionals work together to consider new information presented to them, then make decisions, plan strategies and take action. Yes, participants get to control the outcome! They also gain instant feedback about their actions and are guided in meaningful assessments and analysis, thus learning from each other.
A Range of Perspectives
Business simulations provide the ultimate arrangement for bringing together different skill sets and, thus, different perspectives. An accountant might find himself on the same team as a marketing director and a quality control manager. Each brings a different point of view to the simulation and learns even more when taking a role outside of his or her comfort zone.
Effective business simulations build in the same business drivers that are relevant to your business or industry. “The win” in a business simulation should not come from a simple change in strategy (e.g., introduce a new advertising campaign), but rather from a series of decisions that consider all aspects of the operation-finance, marketing, production and more. With this birds-eye view of the business, and the experience of making decisions (and some mistakes), your professionals are in a better position to take their learning back into the workplace and make better decisions immediately.
Because business simulations engage participants in their own learning process, they develop real understanding. It might take someone 30 minutes to fill out the financial statements during a simulation, but once they do, it’s hard to forget. The experience itself is carried with them — to the next round of the simulation, and ultimately back on the job. That’s why business simulations can be effective in a day or less, or two days for more competitive and challenging experiences.
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