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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,…
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Don’t Think of a Pink Elephant (or a Black Swan Event)
What happens when you put a black swan event in the same room with a pink elephant? According to an article last month in Harvard Business Review, you get a “black elephant event” – a rare, unpredictable, but potentially devastating risk (a black swan event) that no one wants to talk about (the pink elephant…
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The Value of Maintaining, Not Just Innovating
What if being an “innovator” wasn’t the coolest thing on Earth after all? What if having a “maintenance mindset” in business was just as cool? In a new book, The Innovation Delusion, two university professors discuss the importance not only of innovating, but also of maintaining what’s already been built. Read a Fast Company interview…
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Know Thy Audience – Pre-Class Surveys
The Temple of Apollo is said to have had the inscription “Know Thyself” etched high upon its marble entrance. For business simulation instructors, we recommend that you add “Know Thy Audience” to these wise words. In fact, you should get to know your audience well before your class actually starts by using a pre-class survey…
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Virus in the Supply Chain
The shine is being tarnished on the global supply chain as a working capital crisis hits smaller suppliers deep in the chain. Regardless of the industry, all companies have a network of suppliers that provide the products and services they need to stay in business. Some of these are very small suppliers running extremely lean…
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Experience-profiling your audience before an event
As part of our course prework we ask that participants complete a simple 6-10 question survey. Participants are asked to self-assess their competencies on a scale from 1 (low) to 5 (high). The competencies surveyed include dimensions such as Strategic Thinking, Business Planning, Leadership, and Financial Statements. We’ve found these assessments valuable for instructors. The…
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Welcome to Your New Budget. Zero.
The ancient Babylonians may have been the first to classify “zero” as a number. Which at least gives those who have been subjected to “zero-based budgeting” someone to blame. Zero-based budgeting is just as painful as it sounds – new budgets are set at zero dollars instead of being based on historical spending trends and…