Simulation Walk Through Seeing how a simulation could work on your course

This Walk Through Although this presentation walks you through a run of a specific business simulation (the Management Challenge) the process described here applies to most of the Challenge Series thus: Management ChallengeChallenge Series –Executive ChallengeExecutive Challenge –Service ChallengeService Challenge –Retail ChallengeRetail Challenge –Banking ChallengeBanking Challenge –Distribution ChallengeDistribution Challenge

The Management Challenge This simulation is one of a family of simulations to help develop business acumen, financial knowledge and how a company functions. It involves several teams of four or five people running their own company for several simulated years in direct competition with other teams over a day or spread over a course. Where learning is managed by a trainer.

Simulation The learner’s will run their business for several simulated years where they: –Make decisions & submit them –A year is simulated and results returned –The learners analyse the results and replan During this cycle, the trainer will take a few minutes entering decisions & simulating and the rest of the time observing the learners, coaching and deciding who to challenge!

What is required A single computer with printer. A room to brief the group and review the simulation. Ideally, separate breakout rooms for teams (an alternative is to spread them around the main room). A trainer to enter decisions & return results, answer team questions and manage learning.

The Trainer’s Role Using the simulation: As shown later, this is very straight forward. Answer Questions based on personal experience and knowledge and the simulation’s “Tutor Support System”Tutor Support System Manage Learning involves challenging and coaching learners based on observation and supported by the “Tutor Support System”Tutor Support System

A Time Table Initial briefing (15 minutes) Prepare to run the company (75 minutes) Run the companies for six simulated years (4 hours) Compare, discuss & review (75 minutes) Total – just under 7 hours (The Tutor’s Manual has other examples).

The Briefing The group as a whole are briefed about the simulation from customisable slides.

Break into teams The group is split into two to eight teams of four or five people each to run their own company in separate breakout rooms. Where they prepare and familiarise using the written brief (Participants’ Manual) What should our strategy be? What are our success criteria? How should we organise?

Participants’ Manual Customisable consisting of: –Description of the Task –Business Information –What Decisions are made –What Results are produced –Three Years History But short (8 pages)

Preparing the Simulator While the teams are starting (or earlier) the trainer can get ready by: –Enabling the full version –Setting up the group –Choosing the version to use –Entering number of teams Can be between 2 and 8 teams Version depends on your needs. A code is supplied that enables the full simulation This identifies the data for when you rerun it

Can anyone write? Make Decisions Teams write their decisions on a form and submit this to the trainer. Decision Explanations Decision cover whole business but limited number Name to identify

Just before the deadline for decision submission the trainer initialises the process by: –Choose Enter Decisions & Simulate from Main Menu –Review Period Advice (if necessary) –Decide Printing (normally print after simulation) –Optionally adjust Economy –Get to Decision Entry Menu The Decision Cycle If needed you can adjust pressure Choose Enter Decisions & Simulate to start the cycle This is for first time use to suggest concerns Normally use Print after Simulation Now enter decisions and when all entered simulate the year

Enter Team Name (Period 1 only) Enter Decisions in a Template Simulator Comments on Illegal, Unusual and Sophistic Decisions. Print Decisions to return to Team Return to Decision Options Menu to enter other teams. When all teams entered simulate. Decision Entry Fast and Right In first year teams name their company Use the mouse or arrow keys to move around. Enter decisions that change – entries shown in red Decisions can be printed to return to the team You then can enter the other teams and simulate After confirming the entry the decisions are checked

Simulation and Results Simulation takes seconds and the results are automatically printed thus: Team Results –Preliminary Results –Full Company Results –Business Research Results for the Trainer –Tutor’s Audit –Team Commentary

Preliminary Results Let’s work on this

Full Results These reports are produced automatically Income Statement (Profit & Loss) Balance Sheet (Equity, Assets and Liabilities) Financial Ratios Is this what we expected?

Business Research A copy of this is produced for each team thus: Market News Company Reports Company News Yes, Yes, Yes!

Continue for several years Lets not worry Are we on plan? Do we have a plan?

Prepare for Review Teams prepare a short presentation about Objectives, Strategies, Process, and the Future. The Trainer analyses the Tutor’s Audit Review Summary to identify where teams are strong and weak (finding strengths and weaknesses for all teams and (optionally) chooses a winner. After 6 or so years

The Review This ensures that the learning is embedded and transferred to work by: –Teams each making a short presentation. –The trainer discussing issues and using the Summary Review

Versions Typical of all my simulations, there are several versions of the simulation to choose from to allow you to match to your learning needs, your learners, the time available and the way you are using the simulation. Also, it is easy to produce a new version in a different language, using your company’s terminology, with different business analysis reports. This is the basic version when you have least time. This is the most complex. This introduces extra reports as the simulation progresses. This has special reports for Assessment Center assessors. Beyond these you can have your own, special version!

Documentation The customisable documents for the learners are –Briefing Slides –Participants’ Manual –Decision Form –Work Sheets And to help you the trainer you can download –Reporting Pack –Using the Simulator –Running the Simulation And I can the tutor’s manual (background notes) to you.

Overview The simulator was designed taking into account running simulations over two thousand times and this ensures easy, robust and speedy use. The extensive use of the simulation coupled with it’s Tutor Support system ensures that it reliably delivers learning. Help and advice is always available from For exceptional training needs, Management Challenge can be easily and inexpensively customised. Management Challenge is one of a series of business acumen simulations covering all industries.

How might you use Management Challenge, like the rest of the Challenge Series simulations can be used in several ways such as a: –Course FinaleCourse Finale –Course ThemeCourse Theme –Stand Alone ActivityStand Alone Activity –Conference ActivityConference Activity –Assessment Center ActivityAssessment Center Activity –Promotional ContestPromotional Contest

Further Details The evaluation copy of the simulation, documentation and sample results can be downloaded from: And for the other Challenge Series Simulations via: Acumen Simulations For information about business simulations and their use: Or Contact