Business and Management Simulations are among the most interactive as well as impactful development resources available. Participants take on the role of the board of a virtual (simulated) company and have a series of operational as well as strategic decisions to make, individually or as teams, based on business data and information they receive. Participants are in direct competition with the other teams or individuals and must make decisions under time pressure. In business simulations, participants learn to deal with uncertainty in decision-making and can practice and develop management and leadership skills, tools, and competencies in a risk-free dynamic environment. Simulations offer the perfect combination of subject-specific and methodical challenges so that both soft and hard skills are developed through the cyclical and progressive learning approach, alternating between action and reflection.
Why TOPSIM – Business Simulations?
TOPSIM – business simulations are applicable equally in the academic as well as the corporate world, as the stories, decision scope, and the level of complexity can be adapted. Let us highlight the 6 most important reasons as to why business simulations are so impactful for learning and development:
1. Innovative teaching concepts promote active participation
The use of business simulations enables interactive teaching, and therefore adds variety to the daily routine at work or in the academic context. Through their interactive character, business simulations encourage attendees to participate actively.
Through the practical application of theoretical knowledge or input, business simulations enable sustainable learning. Previously explored theoretical elements can be applied in the simulation and solutions, and strategies can be tested in a risk-free environment.
In business simulations, the focus is on networked thinking and acting. They are particularly well suited for the introduction into a complex topic, for linking several topics and as an illustrative supplement to theory as well as exploring a new area or industry.
4. Joint decision-making promotes team spirit
Business simulations call for a high degree of teamwork and interaction, and challenge groups to analyze, discuss, and decide together. The participants face the challenges of working effectively in a virtual environment and practice soft skills such as communication, feedback, networking, and negotiating.
5. The competitive situation increases motivation and willingness to learn
Business simulations offer a unique combination of serious learning content and play-typical (gamified) elements. The business simulations stimulate the curiosity of the participants and increase motivation and engagement. During the simulation, the group members identify (and emotionally connect) almost immediately with the simulated environment, which creates measurable and sustainable behavior change.
6. Business simulations can be applied in many ways
The business simulations can be flexibly used and individually adapted to any syllabus or specific learning demands, across target audience level and desired learning outcomes. Especially for online and distance learning concepts, web-based business simulations can easily be integrated in daily work routines. Participants get an interactive learning experience by playing at their own speed, anytime and from anywhere. Many business simulations can be directly linked to eLearning or can be worked into microlearning by companies that provide eLearning development solutions.
Are you interested in learning more about how you could leverage the power of business simulations for your learning, training, or organizational development needs? Explore additional information about how eLearning development companies can help you reach your learning goals. Visit our website at www.mpsinteractive.com or reach out to us for any questions via email.