Methodology and process
Simulation training is based on learning by doing in a risk-free decision-making environment. The only more effective way to retain knowledge is to be taught one-to-one.
Participants experience the challenges of business decision-making and get immediate feedback on their decisions. When the participants experience something that feels real, they learn faster and are able to transfer the knowledge to real decision-making situations.
Simulation training effectiveness is based on:
- Active participation
- Instructive feedback
- Repetition in training through several time-cycles
- Relevant topics
- Transferable knowledge
A simulation-training module consists of 4-10 decision-making rounds. It forms a cycle where learning is achieved through analysis, decision-making, feedback, and "food-for-thought" about related topics. Facilitation is designed to support learning with current and relevant information.
Participants work in teams of three to six people and an important part of the learning process is the exchange of ideas within the group. Participants are allowed to find their own answers and utilise the knowledge of the whole group.
Decision-making is done with a tool that is designed to help the participant to focus on the key decision-making elements. The tool enables analysis, planning, and budgeting. Results include financial reports, information about market events, and graphics to facilitate analysis.
