Using Business Simulations For Strategy Acceleration

There are a lot of changes happening in the corporate world. Globally, many senior leaders are getting ready or already have, retired. The rapid advancement of technology and the digital transformation of most organizations is also a massive change.How companies cope and adjust chiefly depends on their employees, namely, their leaders. But with most of their higher echelon set to leave, how do corporations get their new leaders up to the task?Advancing with ChangesMany corporations are about to lose their senior leaders if they haven’t already. With millions of baby boomers set to retire that leaves a lot of gaps in the organization in terms of leadership.The next level of senior staff, namely, Generation X has little interest in moving up. Many of them have children or teenagers, many are choosing to slow down rather than spend more time at the office. They watched their parents work hard and want something different for their own lives.This leaves Gen Y. They are almost becoming the accidental managers, due to lack of skills and people willing to step into these roles. That means training has to happen on a level that they can relate to.Business SimulationsIn the past, people were given basic training, perhaps read a thick manual or watched a film on what their job would entail. Also, they tended to be thrown into the job without prior experience and were left on their own to figure it all out. This leads to failure a lot of the time.Relating to younger people means using what you know in a fashion that they understand. This is a generation that grew up using the internet and gaming. It only makes sense to train them on their own playing field.The business simulation takes real-life situations and makes them into a virtual reality. These games can be designed to mirror exactly what your business does and the daily tasks expected of managers.Hands-on TrainingWhile first-hand experience only comes from doing the job, it’s also very difficult for new managers in some sectors to survive. There are too many variables that will come up for them to cope with properly.Simulation based training puts people in the driver’s seat and allows them to see firsthand what they will be doing. Decision making, policy planning, hiring, firing, meetings, budgeting, and any other expectations.They are allowed to make decisions and see the outcome of these choices to see what the real-life results would be. They get to do this risk-free. These simulations can cover several years of the job if needed.Strategic AccelerationWhen individuals or groups are given a practical, hands-on task, they are able to apply theory with action. People retain much more information when they are allowed to perform the task and see real results.The faster you can have leaders trained and in place is economical for the corporation in terms of finances and time. Gaming is becoming very popular for training because it works much better and faster.Benefits of Business SimulationsUsing simulators for business training allows people to experience various aspects of their future roles without risk. They are able to learn and practice very basic to very complex situations and see the results. They can try several different methods and see the results of those to develop skills needed when they are placed in leadership roles.The ability to try out various concepts and methods without failure is changing the way corporations train their employees. It takes away the fear of trying and speeds up learning a great deal.These games and simulations teach other skills, as well. In group simulations, people need to rely on each team member and learn to cooperate and communicate. It builds communication and teamwork skills many people lack.These simulators can be designed to resemble your business so learners are getting the full experience. They can make real decisions and see the instant results and how it will affect the company, the employees and themselves.Staying Ahead of the CompetitionOne of the biggest benefits of simulated learning is it happens much faster than traditional methods. That is vital in today’s competitive world of business. Simulations advance the learning because they learn by doing. That means they can apply these learned skills much faster.Ideally, you want to train your own staff to avoid turnover and having to hire new recruits. The young people who are chosen to become leaders have a lot of experience in gaming but not too much in communication.This combines the soft skills with practical thinking and theory to advance the learning process and build on skills that may be lacking. Being able to make mistakes in a controlled setting takes away the fear of failing and opens up people to options they may otherwise not consider.Technology With business becoming automated, you don’t want your leaders to be. Training them using technology they understand will open them up to new possibilities, open their eyes to new methods and ways of thinking.Getting them to work together with their team members, learn active listening and cooperation are all part of simulated learning. They are put in situations that allow them to make mistakes, learn from mistakes and make better smarter choices.Taking what they learn in a safe and interactive environment will help them become better leaders, faster. They will come out with a new appreciation for the job they will be doing.Business simulations with leadership development are beneficial because as the company changes and strategies or objectives change, the simulator can, too. Adjust them to suit your latest needs and people can retrain quickly with very little downtime.People learn flexibility, tolerance, the ability to listen and be open to new ideas and concepts and then pass those skills on. Today’s new leaders will be tomorrow's teachers, so do a great job with them now and they will stay with the company and pass on their knowledge down the road.