Do I really Need a Business Simulation? The Basics Explained.
Business Simulations can seem like a daunting topic to learn about. But getting starting using business simulations can seem completely overwhelming. Are the too quantitative? Are they too technological? Do they have any personality at all? Do they really help?
But, the big question is, “Do I really need to use a business simulation?” Like any question this broad, the answer is: It depends. To help you get started, let’s look at the top questions to answer first:
1. Do you need to teach leadership’s effect on business results?
2. Do you have to teach some business acumen?
3. Are you looking for ways to connect your training content to the business?
In general (and this is a large in general), if you answered yes to any or all of these questions, you should begin to research ways to incorporate a business simulation into your training and development programs. The big question is: “How do I get started?” A very good place to get started is to do a little reading. There is a very easy to read and easy to understand book on Amazon that is a sort of entry level guide to business simulations for corporate training.
But, in case you want the high level notes, here you go:
– Talk to peers in other companies about what they’re doing, how they did it, and what they learned
– Smaller simulations are usually better than large business simulations
– Some of the best business simulations are paper based… they’re not always computer based
– You might have to use a consulting company to start, but don’t let them take complete control away from you
– Focus on the goals of the training program and don’t let the simulation distract from those goals
The book goes into far more detail, but these are the high level takeaways. The book actually reviews game theory and game construction which is pretty interesting. No matter the case, this is an easy read and an easy place to get educated.
Hope this helps!