How Business Simulations are Used in Leadership Development

There is no one simple way of training employees and preparing them for business. Perhaps they came out of college with some great knowledge but it doesn’t equal experience.By using a business simulation, people get a realistic look at business and it allows them to actually participate in a real-life situation. It’s an ideal educational tool that engages people to garner experience.Here’s a look at what business simulations are and how they are used in corporate training.

What Are Business Simulations?

A business simulation is essentially a game that allows a learner to interact with a realistic situation that represents what their real work would be. Using technology, companies can set up their new employees to interact with all of the situations they may encounter in their day.But, more than just a game, people are not just going through the motions of a work scenario. It allows them to make decisions, compete and learn how to cooperate and work with others.There are certain things that people are simply unable to learn except by doing them. Problem solving, cooperation, and the unique ability to connect the concepts and theories they have learned in college with the physical act of performing these tasks.

Benefits of Business Simulations

These types of simulations are used in many different fields of work. Pilots, police and medical training use them all the time. Why not use them in your own corporation, as well.The best part of these business simulations is you can have them tailored to suit your own unique company. It’s ideal for setting up real-life situations and concerns that happen in your company.New employees are given a unique chance to apply what they have learned to actual situations in a risk-free environment. It’s learning on the job, first-hand experience with the added freedom to fail.When people can interact in a game-like simulation, it not only makes learning fun, but people retain more information when they participate. Engaging people helps them remember and learn far more than just reading or listening.It prepares them for the real-world situations they will be facing. Business simulators allow participants to face the same situation with different methods and techniques for coping.

How Are Business Simulations Used?

Not only are business simulations a great idea for new employees but they are also ideal for training new managers. It can be a difficult transition for many people and failure is just a fact of management life.Using a business simulation, new managers can get a feel and better understanding of what they will be facing. They can take all kinds of situations they will be faced with and try to manage them to the best of their ability.It’s a much more forgiving place to fail than in their job. This way, they are prepared for any problems, the day-to-day and any unforeseen situations that are common in their field.

Management Training

Getting promoted to manager or coming on to a new company in a managerial position can be overwhelming. You are expected to cope with all the different types of personalities, tasks and different skill sets.With business training simulation, new managers can hone their own skills to increase their chances of success when they are finally put in position. Some of the topics they may be faced with include:

• Delegation
• Coaching
• Morale
• Setting goals
• Evaluations
• Motivation
• Team leadership

These situations may be played over and over, which may account for an entire year of employment. Facing these situations in real-life will seem familiar and rehearsed.Not just for new managers but for established managers and employees can also benefit. Even seasoned managers can use some fresh takes on their old tricks.These simulators put the employee into situations that can occur.  It immerses them into stories with characters and the manager will need to make decisions. Each character will react in their own unique way and the manager is then in a unique position to deal with many different scenarios.Whether it’s a first time manager or a front line manager with years of experience, business simulations are a great way for training and development. They can be tailored to your company or used as they are.

Training Made Fun

By engaging in a business simulator, people are receiving hands-on training without risk. All of the responses are recorded and analyzed for scoring and learning purposes.All companies provide leadership training, so why not allow them to engage in something they will enjoy and remember? It’s a learning on the job training situation that gets results. It also prevents failure in new managers by allowing them to fail in a safe environment.The way people are learning is changing all the time. Online and e-learning are becoming more and more popular. It can be very difficult to garner work or management experience to get up the corporate ladder.What better way than to be allowed to fail, ask questions and try again without punishment? It motivates new managers to many different methods of utilizing their skills in a real-life situation.Not only does it benefit the manager, but the employees also benefit and the company as a whole benefit, as well. Higher morale means higher productivity and communication. When everyone works together for the common goal, everyone wins.

Good Business Strategy

The very fact that you can have a business simulator for strategic acceleration is a great investment. It can train people for a real world experience. It teaches people to think on their feet, make decisions and see what the consequences of those decisions can be.Playing a role that will be your actual role in business means people are more prepared than ever. Theories and concepts can only get you so far, you need experiences, as well.The only way to get those is to try. With a business simulator, that’s exactly what your employees get to do. Try out their new role before they do it.