Business Board Simulations: Features, Value, Impact

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© 2012 Targetsim AG | www.targetsim.com 1

Dr. Gudrun G. Vogt CEO Targetsim AG

Business Board Simulations: Features, Value, Impact.

Targetsim Toolbox.

http://twitter.com/?status=RT%20@targetsim%20%E2%80%9EBusiness%20Board%20Simulations:%20Features,%20Value,%20Impact.%E2%80%9C%20http://bit.ly/PEyXUf

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© 2012 Targetsim AG | www.targetsim.com

What is a Business Board Simulation?

•  It is an experiential learning & development tool. •  Think ‘monopoly’ but business oriented and more complex. •  It makes the essence of a company tangible, audible, visible. •  A well designed business board simulation models the entire value

chain including: -  Assets: staff, inventory, machines, buildings -  Structure: business units and/or departments -  Processes: streams of activities in between, -  And beyond: customers, suppliers, other stakeholders.

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How does it look like?

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Here‘s an example:

asset (infrastructure) resp. its value in coins

staff

department

bank account

revenue stream

clients‘ demand (comes on cards)

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Why Board Simulations?

Business board simulations = multisensual learning ‘by doing’, = highest retention of content, = great fun!

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Listening 5%

Reading 10%

Audio-Visual 20%

Discussing 50%

Practice by doing 75%

Source: NTL Institute of Applied Behavioral Science

pass

ive

activ

e

experiential learning

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What‘s the format?

•  A business board simulation is used in a face-to-face setting, with one or more facilitators.

•  It is a 1 to 3 day program. •  Participants work on the

simulation in teams of 3 to 6. •  Facilitator(s) supports them,

consults with teams, gives inputs and feedback.

•  Session includes actionable take-aways for the workplace.

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Market table

Facilitator Projector Beamer

Screen

Flip Chart

Team 3

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How does a Board Simulation work?

•  Participants assume roles like CMO, CEO, CFO etc. •  They discover how the simulated business works. •  They run the business over a number of business cycles. •  They measure success using Performance Indicators (KPIs). •  They think about entrepreneurial initiatives to improve results. •  They discuss expected impacts in the team/with the facilitator. •  They put initiatives into action. •  They experience and analyse the outcome.

>  Multiple outcomes are possible. It’s all about teams’ creativity, risk proclivity, the competitive edge – just like in real life!

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How does it look like in action?

consulting with facilitator

presenting results

celebrating business sucess

running the business

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Why is the methodology so powerful?

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•  It’s experiential learning enriched by peer learning and

by facilitator’s inputs. •  Participants learn by discovering and by doing. •  They don’t have to do it alone, it’s team work. •  They cope with real business challenges

-  in a risk free environment, -  with maximum engagement and commitment.

>  Participants don’t get lost in details or number crunching, they see the big picture at any time.

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Where do Board Simulations come in?

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company strategy

performance goals KPIs

talent development

change organizational development

profitability employee satisfaction customer satisfaction

alignment with strategy commitment

high performance

experience communicate

align motivate

implement

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board simulation individuals

organization

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Why should you opt for a Board Simulation?

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+  It is a proven methodology and a participant-driven

accelerated learning tool. +  It’s way more efficient than conventional lecturing. +  You minimize time ‘out of the field’

-  using an effective and sustainable approach, -  and a cost and time saving method.

+  It’s also peer learning and team building. +  You enjoy immediate impact on on-the-job performance.

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What can you do with a Board Simulation?

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ü Build business acumen. ü Foster strong strategic alignment. ü Enhance entrepreneurial thinking and acting. ü Accelerate sales performance. ü Create financial literacy for non-financial. ü Support change initiatives, mergers or restructuring. ü Kick-off implementation of an initiative. ü Add sparkle to an employee meeting or event.

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What is the outcome?

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+  Alignment with company strategy. +  KPI oriented decisions and actions. +  Awareness, know how, tools and action plans

on how to drive business results. +  Higher individual and/or team performance. +  Strong employee motivation and commitment. +  Better communication and cooperation.

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How do you proceed?

We discuss your goals and business needs. We explore how we can contribute.

You decide.

•  company strategy •  aligned L&D needs •  target audiences •  budget and deadlines

•  solutions and simulations •  in line with strategy •  and with initiatives in place •  proposal and time frame

We deliver the program.

We evaluate results and optimize.

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For more information:

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Content of this presentation is based on our experience and on inputs from our customers and L&D experts. Feel free to contact us for more information:

Targetsim AG | Business Simulations. Performance Solutions.

www.targetsim.com | [email protected]

Phone +41 43 499 08 08 Seegartenstrasse 6 | 8008 Zurich | Switzerland

Targetsim FZ LLC

Dubai Knowledge Village | P.O.Box 502221 | Dubai U.A.E. Tel +971 4 367 82 58

Swiss Quality Simulations since 1994.

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Copyright© of Targetsim AG