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Teaching a Business Simulation Class – Team or Solo Sport?
It’s been said that there is no ‘I’ in Team, but that there is an ‘m’ and an ‘e’. Given that dichotomy, when it comes to teaching a business simulation class, what’s better – a Team or a ‘me’ approach? Like deciding whether to turn a car right or left at an intersection, it depends…
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Saying Goodbye (to a Supply Chain Partner) Is Hard To Do
Hello, The global supply chain just played a real-world version of MIT’s “The Beer Game” – and lost. And due to soaring costs and super-slow deliveries, a breakup with China may now be in the offing. Maybe we should have just stayed home… As discussed in a previous PriSim post, no matter the industry, your…
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The 4 Ps of Marketing
During PriSim’s business simulation courses we ask participants to think about the future of their company and where they want the company to be at the end of the exercise. This leads participants to ask, “Who is our customer?” and more importantly, “What does the customer value?”[1] To help them answer this last question we…
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Let’s Hear it for the Employees! (Amazon, please hit “Unmute”…)
Amazon’s fantastic success has come at a fantastic cost – to their employees. In a nod to the industrial era of the 1910s, it seems Taylorism and Scientific Management are alive and well in the warehouses of Earth’s second largest retailer. A sobering investigation by the New York Times exposes some of the concerning human…
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Financial Acumen and ROI Discussions
Most business people don’t really like accounting and finance. They avoid the topics. And this is why the largest knowledge gap that we find in our business simulation participants is “the numbers” side of business. And this is true across all industries. Business simulations are excellent at teaching “the numbers” side. While finance and accounting…
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Adapt or Die. Or Do an Attribute Map…
Your company has spent an immense amount of time and money and now you deeply understand your (old) customers’ needs and wants. Congratulations… But unfortunately, your core customers have all changed during the time you’ve spent studying the old ones, and now you have new customers with completely different needs and wants. A recent article…
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Use the Right (Sim) Tool for the Job
Here at PriSim we love our experiential, multi-day, competitive simulations – and our clients do too. They’re dynamic, complex, and the business-acumen lessons learned have a profound impact on our clients’ business results and on our participant’s careers. Plus, the no-holds-barred sparring between the competing teams is more fun to watch than a Roman arena…
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What the CFO (and you) Should Worry About
Some would say that finance puts them to sleep. But what if finance could also keep you awake at night? Here’s an article that ran in the Wall Street Journal in January 2021 about what CFOs are keeping their eyes on this year – and that as a businessperson you should think about too. Among…
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The Importance of Focus
One common theme we hear from our clients is the importance of their participants learning about a focused plan/strategy. The most valuable brand in the world[1] exemplifies this concept. When Tim Cook was Apple’s COO, he credited Apple’s success to their ability to focus. In 2010 Cook said:“We say no to good ideas every day….
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Truth (or Fiction) in Advertising
Does advertising really work? Yes, according to the former Chief Marketing Officer of Unilever. But then again, that’s from the former CMO of one of the largest advertisers in the world. Freakonomics ran 2 podcasts exploring the effectiveness of advertising – and found that the answer is more complex. In the first podcast, the results…