Business simulations are effective and timely tools to teach new skills and provide employees with the expertise to succeed in changing market conditions. In the same way that a flight simulator enables a pilot to learn to fly a 747 without risk or catastrophic consequences, business simulations enable organizational learners to develop skills and learn different approaches without risk to the company.
Simulations are sequences that recreate – reformulate or mimic – a certain situation or an event. This is done, usually, to preview a process in order to make some vital observations. Simulations also enable a person to estimate with accuracy, the likelihood of an event or outcome which may occur under any particular situation. Simulations make it possible to practice making decisions without repercussions – getting the feeling without the risk.
ContXt® offers several business simulations, including:
- Healthcare Reality – considered a breakthrough in understanding the business realities of hospital and medical center management. An intensive two-day simulation that challenges participants to manage their own healthcare facility.
- Interplay – has been called a “mini-MBA in a day” because it builds a broad understanding of the critical factors that influence success or failure in any organization. A fast-paced, seven-hour simulation in which teams manage competing companies, balancing their tangible and intangible assets to drive success.
- Financial Acumen – brings financial statements to life through its simple, profound model of a company. Participants of all levels gain new skills or build on prior experience to read and interpret financial statements, identify critical elements affecting profitability, and develop priorities based on analysis of financial ratios and key performance indicators.
- The Medici Game – creates the conditions to inspire creativity and foster innovation. Teams explore intersectional thinking, the conditions needed to foster breakthrough innovation, and how to find and capitalize on new growth opportunities before applying these concepts to a specific company issue or challenge.
- Process Reality – participants manage the four pillars of process excellence: flexibility, efficiency, quality, and research and development.
- Sales Endeavor – a repeatable process for developing and implementing a successful sales campaign.
Consider the use of simulations to build organizational competence before implementing a major change effort. Make sure people understand what your change levers represent, and more importantly, how they can be positioned to best support the organization’s efforts.