Business Simulations: what are they and how do they work?
A business simulation is a business game, employees play to learn about the business they work for, key concepts within core business functions, how they are interconnected and how their individual roles all impact business success.
Experiential Learning
Players move from passive learning to experiential learning as they run their own virtual company. Business simulations come in the form of an e-learning educational training solution delivered via the cloud.
Risk-Free Environment
Simulations provide a risk-free environment to supplement employee understanding through experiential learning to test business strategy without real-world consequences.
Research shows that people learn better when they are positively motivated and challenged. This is why business simulations are run as games offering participants information, the opportunity to make choices and immediately see the impact of their decisions.
How do they work?
Participants access the simulation and enter a real-life business scenario by way of a virtual business. They are given objectives to complete with supporting information from a combination of business functionality; such as sales, finance, marketing, operations, logistics, supply chain, human resources and leadership.
On completion the business simulation provides a clear dashboard with overviews on individual and group performance, offering insights into mistakes and corrective actions taken.
Simulation Overview
Have a look at this overview video and delve into the world of a flight simulator for business.
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