-
Migrating Financial Metrics
Financial reporting and analysis can sometimes seem static and inflexible. But in reality, the field does change and evolve – even if slowly. For example, General Motors recently announced that it would no longer report monthly auto sales, an age-old financial metric in the auto industry. Saying the measure no longer tracks a meaningful aspect…
-
Tips and Tricks for the High-Wire Act of Running a Live Webinar
Delivering a live webinar to people who aren’t in your immediate family can strike fear into the heart of the most seasoned presenter. It’s lonely, it’s unforgiving, and it’s usually being recorded for ongoing scrutiny by your evil colleagues, your boss, and your customers. And thanks to technology, it’s almost certain that as a business…
-
Moat-ology and Competitive Advantage: Buffett vs. Musk
Elon Musk, one of the original founders of PayPal among other accomplishments, has taken the gloves off in his comments about Warren Buffett’s principle of business “moats”. While Buffett has famously said that “wide sustainable moats” such as pricing, distribution networks, and branding lead to sustainable advantage, Musk has countered saying that competitiveness today is…
-
Your Company’s Shrinking Life Expectancy
The life expectancy of a US company is becoming shorter and shorter, according to a new study by The Boston Consulting Group. At the same time, the possibility of being out of business within 5 years, either through bankruptcy or a merger or acquisition, is becoming greater and greater. These facts should motivate a sense…
-
Top 3 Tactics for Business Simulation Exercise Time Management
I am a time freak. My colleagues know it, as do my kids and family/friends. It’s a problem. During our courses there are many moving parts, all of which need to be coordinated and orchestrated to create an effective learning experience. As the facilitator, if you’re not “on top” of all these moving parts, things…
-
Customer Experience: From Warmth to Competence in 7 Seconds
You have 7 seconds to stop apologizing and fix the problem. That’s what new research in customer experience shows. If there’s a problem, warmth and empathy help (for 7 seconds) but then you need to jump in and brainstorm solutions with the customer. And even if the outcome is not ideal, the fact that you…
-
Buffett Gives Us An Excuse to Say NO to almost everything…
Ever wanted to just cross off everything on your to-do list? Well, Warren Buffett may have given you the perfect excuse to do so. Buffett has observed that, “…really successful people say no to almost everything.” Saying no means you’ll free up your time and resources to focus on the remaining handful of things that…
-
Memo-Engine – Unexpected business challenges/disruptors
There are times when a business simulation exercise should be customized to fulfill a specific learning objective (e.g. strategy change, focus on new business metrics, etc…). We have found that companies often believe the best way to customize an exercise is by modifying the business simulation software itself. However, in most cases the software doesn’t…
-
Organizing Teams that can Actually Accomplish Things
Despite advancements in technology, most of the professional-work done at companies is still accomplished by people working together in teams. But being part of a team of fallible and imperfect humans (unlike you) can be challenging. And if that’s not hard enough, what about when you have to lead a team made up of fallible…
-
Some Business Acumen is Timeless
PriSim is in it’s 21st year of creating and conducting business simulation-based courses. A lot has changed over the years, but it’s interesting to note the consistency in learnings that come out of our exercises. At the conclusion of all of our courses we ask competing teams to present a final debrief, or After-Action Review. They answer…