What is a Business Simulation?
A Business Simulation is a computer-based model of business processes and dynamics. At PriSim we combine simulations with lectures, exercises, discussions and a fun competition to achieve an engaging learning experience. As our customers will tell you, PriSim simulation courses are one of the best ways to learn about business and finance.
The information used to design our simulations is taken from real-world businesses operating in the actual marketplace. We use this information to create the foundation for the strategic, financial, and operational relationships that participants observe in the simulations and financial reports.
When we build a business simulation, we do our best to incorporate the important dynamics of the marketplace. However, simulations are only representations of real organizations operating within a marketplace. Although our simulations are based upon the dynamics of actual businesses, clearly we cannot account for all business dynamics. We limit the scope of the dynamics, and thus the participants’ decisions, to focus their time and thoughts on issues that are critical to their development as an effective business decision-maker.
Why Use a Simulation?
Participants can learn more because they are engaged in the learning process
The consequences of taking risks are reduced
See the big picture
Sample Course Agenda
The sample course agenda shows the elements of a typical PriSim® course. We can work with you to modify the topics, the timing, and the number of course-days to fit your needs.
The Simulation Process
Participants are broken into separate management teams. Their challenge is to manage and improve a business for several simulated years in a competitive marketplace. During each round participants will:
- Assess the company’s strengths, weaknesses, and current and past performance.
- Analyze opportunities and threats in the external market.
- Benchmark against competitors.
- Set direction and strategy.
- Execute the business plan.
At the end of each simulated year teams are given feedback on their performance. The management Team that runs the “best” company over several simulated years of competition wins!