The Importance of Execution

A business leader’s job is to successfully move the organization forward and improve business performance. This requires a continuous process of reflection, analysis, planning and execution. There is no better way to learn/practice these skills than “by doing”. During a business simulation exercise participants create their own plans and execute them in the simulation. The…

5-Minute PriSim Panorama: Blockchain

You’ve probably been hearing a lot about blockchain and related cryptocurrencies (digital money) such as bitcoin and ether. But you might not be all that clear on what it means or why you should care. Us too… So here’s a quick “PriSim Panorama” on blockchain, readable in 5-minutes or less (take a deep breath): What…

Best Practices – Building and Using Business Simulations: Part 1

In PriSim’s 20 years of experience running business simulation exercises targeted at leaders and managers, we’ve developed many best-practices that drive successful “experiential learning”. We list some of these best medicine practices below and will add to this list in future posts as well! Set clear objectives, define the process and “realism” expectations – Some…

Take Heed of Financial Metrics with Lots of Letters in Them

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is a financial metric that is commonly used to describe the “cash-generating ability” of a company. The metric has become ubiquitous as a proxy for analyzing free cash flow and is very popular in some circles. But Warren Buffett has a strong feeling about EBITDA – he…

The Freakout Zone!

A clear articulation of value is an important element of any training class. If a learner is going to invest their time in your course, forgoing the 1,000 other things they could be doing, they deserve to be told exactly what’s in it for them. And it better be good… A simple but effective diagram…

Customers May Trust Your Ads More Than You Think

Maybe your customers aren’t as cynical about your ad campaigns as you think. New research from the Kellogg School of Management at Northwestern University shows that if you craft your ad in the right way, customers may actually find it trustworthy and useful. The authors of the research study found that making the assumption that…

The Secret Link between Chuck E. Cheese, Pong, and Apple

What do Chuck E. Cheese, Atari, and Steve Jobs have in common? Believe it or not, Atari (remember Pong?) and Chuck E. Cheese were both started by the same person – Nolan Bushnell. And Steve Jobs worked for Nolan Bushnell at Atari as a technician in quality control before he left to start Apple. Listen…

Board Games

Physical Business Simulations to help drive awareness of financial principles Boardgames are physical, limited-scope exercises that utilize a gameboard and moveable gamepieces. The tool can be very powerful in “spotlighting” the inner workings of specific financial transactions and concepts to help drive an understanding of the impacts that business decisions have on the financial statements.…

What-If? Tools

Innovative technology in business simulations and experiential learning “Full business” simulations that model a company’s detailed operations are best suited for live, multi-day classes in which teams compete in a shared industry marketplace over several simulated years of play. In the simulated industry, company strategies can be fully developed and played out, financial and operational…

The Price is MORE Right – not a gameshow

Ever suspected that Amazon is sometimes changing their prices behind your back? Well – you’re right. Take a look at this article from The Atlantic. The concept of “pricing” has become much more fluid and variable, and a set price is now an old fashioned notion. Retailers collect data on your shopping habits and price…