WHAT IS A BUSINESS SIMULATION?
A business simulation
is a realistic, interactive
Learning happens when we
are motivated, stimulated,
and having fun!
What does a business simulation involve?
- Experiential learning. We believe that people learn by doing. A business simulation is an interactive recreation of the workplace environment, where they work in teams and experience the consequences of their decisions first-hand. Participants 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. They receive instant feedback on their actions and are guided in meaningful assessments and analyses, which boosts learning.
- A Range of Perspectives. Business simulations provide the ultimate opportunity to bring together different skill sets and perspectives. An accountant might work 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 by taking a role outside of his or her comfort zone.
- Real-world Results. Effective business simulations build on the business drivers that are relevant to your organization. “The win” in a business simulation should not come from a simple change in strategy (e.g. introducing 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, your professionals are better prepared to drive success in the workplace.
- Quick Learnings. As business simulations engage participants in their own learning process, the participants develop real understandings. 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 to the job. That’s why business simulations can fit years of learning into one day or less.
Want to hear more?
Get in touch and we’ll be glad to talk about how our business simulations can help your organization.