It goes without saying that 2020 has been a year like no other. One of the most significant changes to the process of capabilities development has been the overnight pivot and transformation from in-person classroom learning to virtual learning. Literally overnight, corporate talent development professionals were forced to endure a disrupted model and figure out a way to survive.

Not only has everyone survived, but we have all actually figured out a way to make learning experiences better and more impactful.

The use of virtual business simulations is just one way the disruption has been accepted. Instead of having some tired old talking head drone on with endless PowerPoints, learners are embracing the virtual intimacy of running their own businesses and learning by doing in digital business simulation workshops.

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Understanding the essential levers to pull

The second half of 2020 will be challenging, volatile, exciting, exhausting, and any other similar adjective you can think of. From a business perspective, executives, leaders, and individual contributors will be faced with unprecedented situations and scenarios that will limit their ability to achieve or fail to reach their 2H targets.

And it will all be serious business as the poor economic reports and business results continue to pile up over the next few weeks and into August.

Meanwhile, those targets don’t go away. The good news is that those targets can be achieved through hard work, smart work, and by having the right Business Acumen skills to pull the right levers that will lead to success.

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3 areas to think about in the potentially disastrous upcoming company earnings reports  

As we all head off to an incredibly well-deserved long holiday weekend, it’s important to take a few moments to reflect on the first half of the year and start preparing for the second half.

It’s safe to say that the first half of 2020 has been unlike anything anyone has ever seen since the beginning of commerce. Within the next few weeks, many business leaders are going to stand before their boards of directors and in front of their analysts to review Q2 earning results and to paint a picture of the future. For many organizations the news will be grim.

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“Am I going to lose my job?”

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3 Skills Every Employee Can Now Have Thanks to Virtual Learning

I’ve known this client for about 10 years and have never seen her to be so emotional. “This really works. I can’t believe it. This is a dream come true for the talent development team as we can take this wonderful Business Acumen program around the world and scale it to over 3,000 people by the end of the year,” she said with tears welling in her eyes and a lump in her throat. The “this” that she was referring to was the a foundational business acumen program that was run in corporate headquarters about 6 times a year which is no going global at a fraction of the cost and without expenses for travel.

As the business world plots its recovery from the COVID-19 pandemic, there are huge challenges ahead that many organizations will be unprepared to deal with because of a lack of business acumen skills. Based on our current research, the 3 biggest challenges facing the business world are:

• Replacing Lost Revenues
• Managing Rising Costs
• Generating More Cash Flow

Up until the pandemic, only the best and highest potential employees were able to go to powerful and prestigious corporate training events. Now, they can have the same experience or even better utilizing virtual learning platforms and tools such as digital business simulations to build specific skills. Here is an overview of the approaches organizations with transformative business acumen skills can take to address the business challenges they face:

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