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Business Simulation

21/01/2020, 16:17:21

What is a business simulation?

Business simulation is a hands-on, interactive learning experience that allows participants to truly engage in the material. Instead of focusing on theoretical knowledge like in a typical classroom, participants build skills, improve conceptual knowledge, and gain a big picture view of the organization all at once.

There are many benefits to using business simulations including:

  • Imitates reality
  • Stimulates co-operation
  • Learning by doing
  • Engages learners
  • Accelerated learning
  • The best approach to help participants agree on view and goals
  • Arrange perspectives and align to goals

Why business simulation is so effective?

Business simulations are the bridge between classroom learning and real-life challenges. They are a hands-on learning method that imitates the real world, allowing your people to practice and improve their business acumen in a safe, risk-free environment.

Leading corporations use business simulations to improve performance in all aspects of their business, including sales, supply chain management, project management, implementing change, and overall financial acumen. Business simulations can fit four years into just one day, allowing teams to compete with each other and see how their actions play out over time.

Why should you invest in a simulation for training?

Pilots, military personnel, and medical professionals all go through simulations before entering the workforce. Why don’t we routinely do the same in business?

Business simulations are a hands-on, interactive learning experience that allows participants to truly engage in the material. Instead of focusing on theoretical knowledge like in a typical classroom, participants build skills, improve conceptual knowledge, and gain a big picture view of the organization all at once. There are many benefits to using business simulations in your company, including:

  • Imitates Reality. Our simulations emulate the real-world factors and challenges that your organization faces. Give your people a big-picture view of operations by scaling everything down to a smaller scale.
  • Risk-free environment. Your people will be able to learn from their mistakes in a safe environment and see the consequences of their actions across the whole organization – without actually affecting your organization.
  • Stimulates co-operation. Working in cross-functional teams stimulates conversation and co-operation between colleagues. These conversations create a peer-to-peer learning and open up your people to better understand the different perspectives in your organization.
  • Learning by doing. It is said that we remember 10% of what we read, 20% of what we hear, 70% of what we discuss with others, and 80% of personal experience. A business simulation allows your people to personally experience the consequences of all the different aspects of the business.
  • Engages learners. Experiential, hands-on learning engages all the senses. Participants visualize, discuss, plan, receive feedback, and practice real techniques that they will use in the workplace.
  • Accelerated learning. Simulation provides a big picture view of operations, meaning that participants are able to grasp a wide range of concepts and materials in a short period of time. By relating their new learnings back to their own company, stickiness increases and the knowledge follows back to the workplace.

Ready-made business simulation-based solutions:

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