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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…
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Loss Aversion in Business Simulations
Research has found that people hate losses almost twice as much as they enjoy equal gains[3]. 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…
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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…
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Remote/Virtual Decision-Making: Simulated or Real-World – There’s Very Little Difference!
COVID required all organizations to quickly re-tool for a more digitized and remote work environment. If COVID had happened 5 years ago, before the maturity of tools like Zoom/WebEx/Teams and before the tight integration of video/audio within our laptops, business survival during COVID would have been a LOT more difficult. Over that past 18 months…
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You Can Buy Their Glasses, But Not Their IPO
If a stock is listed in the forest, and no one underwrites the IPO, does it make a sound? Yes – if the stock was ‘direct listed’ as was Warby Parker’s recent listing on the NYSE. And more than just making a sound, the eyewear retailer has made a big splash along with Spotify and…
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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
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 company…
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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…