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Burn them before they learn it and the Four Stages of Learning
There are a few gifted individuals who naturally grasp the details of finance, strategy, and leadership – the core subjects covered during a business simulation exercise. For the rest of us, we study and learn by doing. During a business simulation exercise, you’ll find that some participants are unaware of their lack of understanding/knowledge of…
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SpaceX Derides PPTX
Want some more business advice from the world’s richest human being? No, not from Jeff Bezos this time, but from Elon Musk. To start, Musk says leaders should “spend less time on PowerPoint”, on finance, and in meetings. The billionaire entrepreneur and head of Tesla, SpaceX, and The Boring Company also expresses a concern about…
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Game On! – Virtual networking session, happy-hour, or event
At PriSim Business War Games we recently held our annual Holiday Party. And just like most companies, we had to overcome the obstacle of holding the event in the shadow of Covid-19. Should we try to do something in person utilizing social distancing
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Financial Reporting Reboot
Now they tell us. Finance and accounting are already hard enough, and now it looks like we’ve been doing it wrong this whole time?
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Education + Engagement = “Edugagement”!
COVID has forced all businesses to “do things differently.” For PriSim, the effort to pivot to virtual exercises was not difficult due to the “digital” nature of our existing product (the business simulations are computer-based). As clients embraced virtual meetings and training courses (some quickly and some more slowly), a funny thing happened. The requirement…
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Integrate Your Simulation Agenda – And Let Your Participants “Hear The Music”
You might be surprised to hear that a key question in the instructional-design of a business simulation class is – “Where do you actually put the simulation?” While that sounds like a rhetorical “Is rain wet?” type of question, answering it is not as simple as it might seem. And finding the right answer comes…
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Functional Teams are Good; Ultra-Functional even Better
Working with teams of people to accomplish a common business goal can be frustrating and perplexing – with the threat of dysfunction and meltdown ever-present. And the added complexity of today’s remote, Zoom-centric teams as a result of the pandemic hasn’t made the task any easier. Yet creating healthy and functional teams is one of…
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Even-Start or Unique Starting Point for Teams in Business Simulations?
Running a business is complex! There are many interrelated/interconnected dynamics and activities that need to work together to drive total company performance. To focus participants’ time and thoughts on the most important issues, business simulations need to limit the scope of marketplace dynamics and thus participants’ decisions. One way to accomplish this is to have…
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Innovation Deserves Some Credit
Get used to the current features of the things you buy – because companies will likely reduce their spending on innovation, thanks to the pandemic. In an article from The Kellogg School of Management at Northwestern University about COVID-19’s impact on innovation, the authors predict a looming decline in companies’ investment in new programs. Why? …
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A new, improved “normal”
I recently read a question that got me thinking: “what parts of ‘normal’ are worth getting back to?” Great question! In “normal” times PriSim primarily delivers instructor-led, onsite, live classes. Even though we’ve conducted distanced-based, virtual exercises for years with University audiences, those were the exception and not the rule (especially for corporate clients). Well,…