Business Simulation Overview
What We Do
Practice makes perfect! The heart of each PriSim® course is a computerized business simulation – an intensive, engaging competition between “virtual” companies, managed and led by teams of participants for several simulated years. In the simulated marketplace, teams compete for profits, market share, and customer satisfaction. As competitors make strategic moves, and as customers’ values change, course participants must act as “CEO for the Day” and quickly make decisions across many strategic and tactical areas.
In addition to the business challenge created by the simulation, instructors cement core business principles in a series of lectures and discussions. These discussions are strategically placed between the decision rounds throughout the multi-day competition.
Each PriSim course creates a risk-free environment: a laboratory setting where your company’s decision-makers and future leaders can literally see the impact that their actions and decisions have on business
PriSim uses several interactive tools to educate decision-makers about key business concepts and critical thinking including:
Computerized Business Simulations – “learn by doing” to bring business challenges and concepts alive.
Lectures and Discussions – on key business subjects such as strategy, finance, operations, teamwork, and leadership.
Pen-and-Paper Exercises – to focus on specific calculations such as Net Present Value and Break-Even Analysis.
Memo Engine(TM) – that presents teams with unique, unexpected industry/company-specific challenges outside of the simulation that must be immediately solved before proceeding in the simulation.
Table-Top Board Games – as a supplement to highlight specific financial concepts.
Classroom Feedback and Debriefs – after each competitive round.
Pre-Work – so that attendees hit the ground running the first day of class.
PriSim’s instructional designers have developed a large tool-kit of teaching methods that can be used in various combinations to accomplish your unique learning objectives.
Our simulations and classes are very flexible and can be configured many different ways:
Number of Teams – As few as 2 and as many as 8 teams can compete in an “industry”. Multiple industries can be run for larger groups.
Participants – Competing teams can be run by as few as 1-person to as many people as needed, although we recommend a maximum team-size of 6. Single classes or concurrent class-sessions can be run depending upon total class size.
Course Length – Classes can be run over a 1-4 day timeframe. (Most of PriSim’s clients choose to run 2-day or 3-day classes.)
Continuous Learning Approach
An effective teaching approach must ensure that learning continues long after the class is over. PriSim’s course agendas include time for participants to reflect on, share, and commit to on-the-job applications of course learning. In this way, students maximize their retention of course concepts and increase the probability of application in the real world. PriSim also works with clients to implement additional post-course learning approaches such as strategic projects, learning plans, etc.