How can you align your employees in your large corporation, across dozens of business and product lines into one strategy, organizational structure and set of core values?… More importantly, how can you achieve this in a way that improves your overall management across the organization and increases customer satisfaction?
A simple and upfront answer for you is through learning by experience in a simulated environment that mimics every aspect of your organization when it is in a real life, full-swing scenario.
GB Auto, the auto giant established a management training academy with the aim to train their upper management teams on how to lead the organization. They decided to include our Simdustry Business Simulation Training solution as an integral module in the Leadership Academy.
All groups joined this unmatched first-hand experience to learn about the financial, strategic, and sales acumen needed to move productively forward as a cohesive unit.
Attendees were trained on the mechanics of using integral financial tools such as Balance Sheet, Cash Flow Statement, Profit and Loss Statement and more. They learned the impact of these financial statements and emerged with knowledge similar to what they would have walked away with from a crash course in Business Finance.
In terms of commercial knowledge acquired, GB Auto trainees learned the impact of pricing and the concepts of a perceived price for the client. Strategic decision making was a further skill set they were exposed to, in order to facilitate their ability to make the right decisions for the business at the right time. In a real-life market, strategy professionals are faced with a multitude of choices where the capital in hand may not allow them to execute every desired move at once.
By attending Simdustry Business Simulation Training, the teams simulate their own organization and are pitted against each other.
- Trainees make decisions according to their own thought processes and draft their own strategy according to agreements drafted amongst them.
- They decide on the need to request a loan and together have to decide where such a loan would be invested (be it introducing a new product or opening a new business line or both).
- The practice helps participants realize how at some point the decisions they make today, yield results in two or three years to come, thus prompting them to adopt a strategic method of thinking.
Simdustry’s simulation activities engage trainees or rather players in very dynamic Simulation games. Every round lasts about two hours, and the teams finalize a whole fiscal year of planning in the process.
During different rounds, trainees “experience” purchasing raw materials, entering into production, setting pricing policies, selling, and making decisions together on strategic investments.
Participating groups will walk away with a clear understanding of the correlations between departments and how each department functions and execute its job from pricing and marketing to actual sales.
Every individual will have a say in finance and how the resources impact the organization’s budget. They gradually build a clearer understanding of how to deal with relatively complex issues such as overstocking and inventory.
If you would be interested in training your employees on Business Acumen in a very exciting yet risk-free simulated environment, call us to reserve a demo meeting to take you through our state-of-the-art solution now!