• Spiraling Out of Control – Wages and Prices

    Unless you’ve been hiding in your basement for the last couple of months (understandable if you were), you’ve probably heard about the dreaded Wage-Price Spiral (WPS) that many economists are predicting. A WPS can occur when prices rise, causing workers to demand higher wages.  Companies then raise prices again to cover their now-higher wage expense…

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  • Sim Tips Videos – Seeing (a business simulation) is Believing

    When you have a question about PowerPoint or Excel, or even about how to change the oil in your car, where do you go to get the answer – YouTube, or to the 100-page user manual in 8-point font sitting on your bookshelf? If you’re like most people, you’re a visual learner and you go…

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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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  • How Jelly Beans Can Change The World

    It goes without saying, but we’ll say it anyway: it’s rude and inconsiderate to show up late to a meeting.  And while it shouldn’t need to be researched, you’ll find lots of data to support the negative impacts of tardiness, such as this article and this one. Think about it: ten people waiting six minutes…

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  • Custom Business Simulations – Guest Speakers

    Customization of a simulation can be expensive. If you can accomplish 80% of the learning with an off-the-shelf business simulation you don’t need a custom one. However, don’t always assume that the simulation software is what needs to be customized. There are simpler ways to customize a learning experience. One approach that can help bring…

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  • 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…

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  • 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…

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  • 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…

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  • Boost Knowledge Retention by Adding Some “White-Space”

    Want to turbo-charge the amount of knowledge that your students take away from your training classes and actually apply in the real world? Try providing “white-space” for reflection during each training day. Research has shown that people in training sessions who spend time at the end of the day actively thinking and reflecting on what…

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  • Best Practices – Building and Using Business Simulations: Part 1

    In PriSim’s 20 years of experience running business simulation exercises targeted at leaders and managers, we’ve developed many best-practices that drive successful “experiential learning”. We list some of these best practices below and will add to this list in future posts as well! Set clear objectives, define the process and “realism” expectations – Some participants…

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