Why to use a business simulation?
Business simulations help participants to practice and improve their business skills, knowledge and ability. Improvement of these three elements leads to improve of business acumen.
By doing so participants will have the ability to take a big picture view of a situation, to weigh it up quickly, make a logical, sound decision confidently, and influence others to agree with theirselves in order to have a positive impact towards achieving the objectives of the organisation.
What are the benefits for the organisations and participants?
The biggest benefits at an organisational level are firstly the ability of each individual to make decisions that align with the organisation’s objectives and secondly to take the required action. These two factors generate increases in organisational effectiveness and efficiency.
Seeing the bigger picture and understanding how each part of the organisation fits together and dealing with complexity and uncertainty will help participants to able to make appropriate decisions.
How does it help to deal with business risks and opportunities?
Participants learn by running a virtual business in an interactive, risk-free, and realistic environment. Business simulations, therefore, help participants to understand and deal with business situations in quick and keen way.
Business simulations have emerged as a vehicle for improving financial performance and leadership development. Its main purpose is to provide the following skills, knowledge and ability.
- Executive level thinking
- Distinguishing traits
- Financial literacy
- Business management and leadership