There are many types of business simulations: behavioral, board games, computer-based.
At PriSim, we focus on computer-based “whole-business” simulations. Frequently, we will augment the core learning experience with board game style simulations (to better drive detailed financial acumen).
There are pros and cons of each style of “business simulation”. One of the benefits of computer-based simulations is their ability to challenge you with a decision now – that may not have an impact until some point in the future. Or how an action in one area of the business may have an impact in another, physically distant, area of the business.
When you have the ability to separate an action from its consequences, participants can start to experience and improve their understanding of intended vs. unintended consequences, trade-offs in decision-making, first order vs. second order thinking, and decision-making under uncertainty.