Business Simulations No Longer Just For the Fortune 500
11/12/2015 Filed in: Leadership Development
Business Simulations have traditionally been reserved for the largest companies. This has all changed! It’s time for the little guy to gain access to these valuable tools. This levels the playing field when it comes to advanced corporate development or strategic development. The time has come for the little player to compete on a level playing field. Let’s start with defining these tools. What is a business simulation and what is it traditionally used for?
Business Simulations: Most Common Uses
- Leadership Development, Corporate Development, or Executive Development- This is the most common place to utilize a business simulation or serious game. These tools are traditionally used within training and development in order to teach managers effective leadership, business acumen, corporate strategy, or all of the above. Business simulations are highly engaging and today’s learners love them!
- Business War Gaming - This is where leaders within a company utilize a business simulation to test the corporate strategy before it’s implemented. Utilizing a business simulation for business war games gives executives the opportunity to test their strategy in a real time war game setting in order to test the corporate strategy. This enables the human element that traditional strategy development usually lacks.
These are just two examples of ways companies most commonly utilize business simulations and/or business war games. There are many more. If you are just getting started, we recommend picking up a copy of “Shift: Utilizing Business Simulations and Serious Games Within Corporate Learning’ at Amazon. It’s a very easy read and inexpensive. It will not give you step by step instructions on how to build a simulation, but it does give you great guidance on how to use them within corporate learning.