PriSim Business War Games Inc., a premier business simulation and training firm, announced a published summary of its development approach to computerized business simulations by revisiting a case study of its Impact™ e-business simulation. The case study is titled "Impact™: Shocking the Legacy Mindset" and was published in the periodical "Developments in Business Simulation as Experiential Learning", Volume 31.
Chicago, IL (PRWEB) August 25, 2008 -- PriSim Business War Games Inc., a premier business simulation and training firm, announced a published summary of its development approach to computerized business simulations by revisiting a case study of its Impact™ e-business simulation. The case study is titled "Impact™: Shocking the Legacy Mindset" and was published in the periodical "Developments in Business Simulation as Experiential Learning", Volume 31.
Impact™ is a highly customized business simulation designed to simulate the business challenges presented by the Internet and to develop Managers', Directors', and other high-potential employees' strategic, financial, and general business acumen. The computerized simulation models the operations of an online business and allows course attendees to run their simulated company as "CEO for the Day". The Impact™ case study is an example of how business simulations can be used to deeply motivate the strategic, financial, and operational language and thinking needed to see beyond old business paradigms to a new view of business success.
A significant evolution in a business' culture will almost certainly be required when it incorporates the Internet as an integral part of its business. To help businesses in this cultural evolution, PriSim designed Impact™, a computerized business simulation that educates business management on the strategic language and tactical playbook needed for success. Because the evolution to e-business is a shock that deeply impacts a business, managing a simulated company in a dynamic practice-ground helps leaders grow into this new challenge and move beyond existing "legacy mindsets".
In the Impact™ course, attendees manage a "virtual" magazine company that is beginning an online business initiative. Teams compete over several simulated quarters for advertising dollars, subscription revenue, and product/service sales. Decisions include investment, online positioning, and other strategic choices as teams attempt to maximize the "5Cs" of Internet business: coordination, communication, community, content, and commerce. During this intensive, hands-on process, attendees must both lead and manage the company through several periods of marketplace and competitive challenges and must answer critical strategic questions including:
- Does online commerce suit the nature of our business?
- How will we work with new online channels?
- Can we organize our company to build a successful online business?
- How will we attract visitors to our website?
- What is the optimal relationship between our offline and online businesses?
- Will we be able to attract new online business without damaging our existing business?
These questions are a sample of the business language that Impact™ introduces to participants. Impact™, and all of PriSim's simulations, give participants an opportunity to test ideas and learn from a new business challenge. Creating such an environment is both art and science and leads participants to emerge having gained critical business insights -- not having become further confused.
"Impact is another example of how PriSim can craft a unique learning experience and allow participants to see their business through a different lens," said Jeff Lefebvre, a Partner at PriSim.
The goal of Impact™, and the goal of all PriSim's simulations and business training "laboratories", is to shock the legacy mindset of business leaders so they look beyond old paradigms to a new, more deeply insightful and nuanced view of business. Such business laboratories function much like physics or chemistry laboratories; they provides leaders with an opportunity for experimentation, observation, and hands-on practice in their field. In business, as with many things in life, there is no substitute for experience; however, as the saying goes, "experience is a hard teacher: she gives the test first and the lesson after". Creating a simulation such as Impact™ that challenges the legacy mindset provides an opportunity to learn lessons before the test is given in the real world.
PriSim Business War Games' business simulations and courses provide managers across all industries with a practice-ground where new ideas can be tested and where strategies can be practiced in a "what-if" environment. PriSim continues to produce unique, computer-simulation based business training courses for leading organizations worldwide. PriSim is the premier partner for companies that have a goal of developing their leaders' and future leaders' business acumen. At PriSim, we make learning real™.
ABOUT PRISIM BUSINESS WAR GAMES INC:
PriSim Business War Games Inc. works closely with leading organizations to build and deliver customized business simulations. PriSim assists clients in utilizing these custom tools to develop their employees' business acumen. PriSim develops tools and materials that help clients communicate more effectively, proactively explore strategic alternatives, involve multiple levels of management in business development, and share a common model and language of business and finance. Industry-specific simulations include insurance carrier, insurance agency and brokerage, mortgage banking, aerospace and defense, dealership, publishing, e-commerce, and manufacturing. PriSim helps clients make better business decisions while helping them to "See things differently, think differently™". At PriSim, we make learning real™.
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