Within the next few months, many businesses will be “going back to work.” For the ones that have survived, they will be talking about things like “getting back to normal,” and figuring out how to adjust to the realities of the new workplace.
One of the many stark realities of this new normal is that we must all challenge the orthodoxies of what was the old normal and make significant adjustments to the way we approach things moving forward into the new normal.
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As a Talent Development professional, one of the most rewarding aspects of delivering high-quality, impactful learning solutions to our clients is to hear executives discuss the impact the learning has on their bottom-line and other key business metrics.
For the past five days, the Advantexe team has been deploying a Business Acumen learning journey for the top 140 leaders of a technology company going through a significant business transformation. Like many businesses today, this company is wrestling with the strategic dilemma of balancing delivering on a value proposition to existing customers with legacy products and services while at the same time investing in and developing new digital technologies that change the playing field.
If you have anything to do with the world of training and development, you know and probably are a getting a little tired of “gamification in learning.”
For full transparency, earlier this year I developed and shared with our key clients and leadership team the “Gamification Strategy of Advantexe” so that we could execute and keep up with customer expectations. With our gamification strategy, we have the ability to now capture leader boards, award badges for success, include progress bars, and utilize customized business metrics to reward certain achievements.
As you explore the world of business simulation, there are dizzying arrays of educational choices. Much has been written about different types of simulations. Some are good for long-term exploration of complex business problems, while others are focused on a specific skill acquisition. This article will review four critical characteristics that can make up the best business simulator including technology, realism, response and feedback, and process and outcome focus.
Technology
While simulations can be board-based and be effective, the focus here will be on business simulations using technology. This does not mean the simulation is necessarily online (though many are) but it does imply the users are interacting in a computerized enhanced environment. Simulations that use technology offer two major distinctive advantages to paper-based simulations, the ability to visualize the learning and the ability to gather data about the participants using the simulation. Data visualization is particularly important in more complicated simulation forms as the amount of information and variables is too much for a learner to track. The ability to personalize the simulation and use data analytics are key to making the experience interactive and measuring the effectiveness of the intervention. {Click here to learn more about Advantexe’s Zodiak Pro Simulation}
Realism
Unlike role-plays and case studies, the ability to replicate the fidelity of the external situation facing the participants within the simulated environment is key. The more life-like the simulation and the behaviors required to be successful, the more likely the learners can apply these same behaviors back on the job. Aspects of realism include things like: time constraints, budget constraints, dealing with multiple stakeholders with competing agendas, information overload, business strategy, crisis situations, etc. However, realism taken to its extreme may overcomplicate the simulated learning environment causing too much distraction and not the appropriate application. The best business simulations are designed to balance realism from hyper-realism.
Response and Feedback
Along with creating a realistic context, immersive simulations respond to the various inputs done by the participants (immediate) and are provided feedback (usually delayed as a result). This cycle of input-reaction-feedback forms the basis of the simulation engine. Inputs are characterized by financial decisions, dialogue with real/virtual participants, question choices. Some examples of reaction responses include visual prompts, trend lines, and financial calculation indicators (e.g. budget changes). Participants should be able to “see” how their inputs affect the various responses in real-time. Feedback usually comes at the end of the simulation and is an encapsulation of the work done in a round or segment. Some examples include heat maps, leaderboards, financial spreadsheet reports, and live presentations.
Process and Outcome-focused
Simulation-based learning is both about the learning process and the result. The process typically involves dialogue, competition, and cooperation and is driven by the participant's actions. Process-driven learning typically spills outside the borders of the simulation and creates opportunities for real interactions. Good learning processes typically involve other learners, business leaders, subject matter experts, and sometimes, external observers. Outcomes are contextual and can be evaluated in different ways:
I just finished an excellent business acumen learning experience with a group of global business leaders. As part of the learning journey, these participants had the opportunity to run one of business simulations for five years to develop strategic thinking and financial acumen skills. As we were wrapping up, many of the participants provided feedback on their experience and how they can apply their new skills back on the job.
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