Business simulations used for corporate training and change management have been utilized for decades by Fortune 100 companies. Experiencing the simulation can single-handedly transform a business and empower it to dramatically increase revenues—and now medium-sized companies can take advantage of this training tool.
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Simulation Studios offers different types of simulations that companies can choose from. These simulations are created exclusively for a company’s needs and goals. There are tailored simulations for more basic business needs that are adjusted to meet a client’s criteria as well as ready-to-go simulations for the company that wants access to world-class tools quickly and efficiently.
Developed by former Apple Inc. product manager and bestselling corporate training author William Hall, training participants are grouped into teams and given real-life business scenarios unique to the company. Each team must make the tough decisions that face corporate executives each day while trying to remain profitable and maintain a strong market share.
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With every “lever” or decision participants make as it pertains to marketing, manufacturing, and employee development, the results of their business plan can dramatically change. Should a team decide to go “full steam ahead” without properly analyzing the information, the plan will almost always fail. By utilizing the simulation prior to making real-world risky business decisions, it can help employees grow their leadership and business acumen skills in order to successfully execute their business plans.
After the round is complete, a moderator will step through what happened, why it happened, and why it is important to the participants’ training. All the information is used in subsequent rounds in order to apply leadership development content and business acumen back to participants’ real-world jobs.
While most corporate training companies can charge upwards of $500,000, Simulation Studios does more for considerably less of a financial investment. Everything is all-inclusive: each session is run by a former executive, and every aspect of the simulation is controlled, right down to the temperature of the room.
Once a custom simulation has been performed, companies retain the full licensing rights to the program, allowing them to run the custom simulation again in the future, without the additional costs.
In 2014, corporate training spending rose 15% to over $70 billion in the United States and over $130 billion worldwide. When there is an influx of spending on training activities, it is generally an indication of overall economic growth. With consistent
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By participating in these simulations, employees and executives alike experience what it takes to optimize a company’s performance through effective leadership, including strategy, operations, marketing, human resources, and finance, as well as giving them cross-disciplinary exposure to work effectively with the multiple departments in an organization.
“Simulation Studios offers engaging and applicable training for today’s learners,” says Vice President of Learning and Development William Hall. “This is training for the next generation. We don’t just lecture with a PowerPoint®; this is action learning that is challenging, engaging, and applicable to align with a company’s particular business strategy. The impact of corporate simulations is much greater for smaller companies.”
To learn more about workplace simulations, visit www.simstudios.com.