So what happens in a simulation workshop? Some of our clients asked us for a short explanation and, at the risk of losing the surprise element, here we go:In one of our typical workshops, participants are grouped into cross-functional teams of up to 5 each. Each team runs its own virtual company and competes with the others in a simulated business environment. Each participant plays a specific functional role – like marketing head and operations head – with its own priorities and metrics. These teams then take their company through ten business quarters simulated over the course of the 3 days of the workshop. The simulated environment traces real-world market forces and practical problems.Each participant makes operating decisions, based on his or her role in the company – like raising debt to fund expansion or deciding on the advertising budget. The team then discusses these proposals, based on market context and also on how it affects each other’s’ priorities. For example, a proposal to cut prices to increase market share might not sit well with the person charged with increasing margin on sales. The simulation then combines these decisions with market forces to comeback with the quarter’s results. The teams then analyze the results with the help of the facilitator in debriefing sessions to trace the impact of their decisions. They get to apply the learning in the next business quarter. These simulation sessions are interspersed with concept sessions on strategy, finance, competitor analysis etc., to complete the learning experience.
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