New CEOs – Do Only the Things Only You Can Do
Being a CEO is tough. But…what do they actually do, anyway? Aren’t all of the other people at the company doing all of the actual work? Maybe so, but we still need CEOs. According to a McKinsey study, the things that CEOs do create 45 percent – almost half – of a company’s performance results….
Sim Tips Videos – Seeing (a business simulation) is Believing
When you have a question about PowerPoint or Excel, or even about how to change the oil in your car, where do you go to get the answer – YouTube, or to the 100-page user manual in 8-point font sitting on your bookshelf? If you’re like most people, you’re a visual learner and you go…
Shokunin – Values and Purpose (Mission)
Reading Bob Igers’ book “The Ride of a Lifetime”, I came across an interesting concept, Shokunin – the “endless pursuit of perfection for a greater good”. According to Wikipedia the Shokunin “has an obligation to work his best for the general welfare of people”. This concept resonated with me as it is a good reminder…
This Blog Post Is Taxing. It’s About Taxes
Economist John Maynard Keynes said that avoiding taxes was “…the only intellectual pursuit that carries any reward.” But in the case of book income vs. tax income, all rewarding things must come to an end. A minimum corporate tax in the US has been proposed that would be based on the book income of large…
Does your Company Deliver an Experience – or an Ordeal?
Is the customer experience at your company uplifting, or is it more like a trip to the Department of Motor Vehicles? It’s an important question for business leaders, because experiences have become a critical part of what people buy. In fact, experiences are now such a valuable part of the economy that some observers say…
Housing, Humans, and Algorithms…
Echoing the past, it seems Zillow has re-experienced some of the business dynamics that brought down the hedge fund LTCM, as was famously described in the book When Genius Failed. Zillow announced in November of last year that it would close its house flipping business, Zillow Offers, and write off over $500 million in losses….
Scoring a Business Simulation Competition is Not for Sissies
Unlike a 2nd grade soccer game, everyone is not a winner in a business simulation competition. But even with grown-ups competing to run simulated companies, scoring a simulation is not a simple process. The key is to have a clear, precise, and fair approach to determining the “winner”. In the segments below, we’ve put together…
Don’t be a Zoom-Zombie – Use PriSim’s Zoom Cheat Sheet
In what feels like déjà vu, it looks like we’ll keep seeing Zoom meetings pop up on our schedules in 2022. Hybrid work is here to stay, and unfortunately Covid probably is too. Most of us in the business world have become pretty good at using Zoom (along with our kids and even some of…
Loss Aversion in Business Simulations
Research has found that people hate losses almost twice as much as they enjoy equal gains. This is called the loss aversion principle. The loss aversion principle states that people’s “response to losses is stronger than the response to corresponding gains”. It was first identified in 1979 by the Psychologist and Economist Daniel Kahneman and…
Star (Talent) Wars
A growing battlefront in business has emerged post-pandemic – a war for talent. With a nod to Sun Tzu, successful companies and leaders must be skilled in “The Art” of this particular war as it escalates. An article in Inc. Magazine states that over half of the management teams interviewed cite staffing as their biggest…