Business Simulations
Learning by Doing. This is the best way to learn since we combine several different ways of learning. The most important though being that you learn through actions and feedback of your actual decisions. There are several independant studies that show how efficient this method is.
The best learning environment
Our way of doing things focuses on creating the best possible learning environment. This includes not only a challenging environment with competition being present at all times but also the tailored added difficulties along the way.
After every year there is a feedback session to clarify what happened and why. We also discuss the team process and discuss what could have been done in a differently.
Simulation components:
The simulation itself – Close to, but not a spitting image of your company. To avoid getting stuck in corporate culture traps and old habits that are hard to change.
Competition – supports the learning process. It's Important not to let the competition get out of hand – but maintain business ethics.
News – What's going on around you affects your decision making process
EOA – stimulates free thinking, thinking outside the box
Motivation – What gets measured gets done. We measure motivation!
Are simulations run as group or individual exercises?
Simulation sessions are run as team competitions and typically have up to twenty participants divided into four groups. As we see it the team is made up of individuals and we stress the importance of each person. In order to create a dynamic climate in each group, we prefer to mix participants according to experience, competence, age, and sex. The simulated business is run over the course of two to five days, corresponding to three to five years in real-time, and under conditions of fierce competition. The outcome is then measured and compared with the initial predictions for:
• goals (measured in ROCE, ROI, EVA or Growth, for example)
• strategy
• vision
• values
The simulation process itself is also very flexible, monitored by session leaders and continuously adapted to the current circumstances of the different teams competing. As the simulation proceeds, our consultants take on different roles, such as lecturers, union leaders, insurance brokers, and politicians. In addition, simulated real-world events are introduced to improve reality and increase the level of stress on the teams.
