Category Archives: Feature News

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Corporate training program using business simulations

Inside Modern Leadership Development: The Growing Role of Business Simulations

Organizations are increasingly turning to experiential learning in their management training programs to enable their leaders to practice decision-making in complex, realistic scenarios. atrain GmbH have embraced this approach by integrating business simulations in their leadership journeys; most recently through a large-scale program for an international automotive company.

Who is atrain?

atrain logo

For over 20 years atrain have partnered with organizations worldwide to develop leadership and enable sustainable transformation. With more than 60 global clients across 25 countries, atrain has developed over 35,000 people through coaching engagements, leadership journeys, and tailored training programs.

At the core of atrain’s work is the belief in realizing people’s true potential. The company positions itself as a trusted partner for its clients, designing development journeys that are not only impactful in the short term, but also sustainable over time.

Using MikesBikes in the Leadership Journey

This leadership journey was for 60 aspiring executives from four regions of a global automotive company.

screenshot of prod dev screen of MBA

The business simulation workshop featured over two-days where participants were split into groups of four to five using the MikesBikes Advanced simulation. They were tasked with increasing the shareholder value of their simulated companies. Program facilitators also provided targeted inputs on topics such as strategy, company-specific KPIs, and team dynamics.

Of importance to this program was to allow participants to make mistakes. This enabled them to reflect on the consequences of their decisions and improve their approach over time. Unforeseen market changes were introduced to mirror real-world uncertainty, complemented by theoretical input on how leaders in the real-world deal with volatility and ambiguity.

Over the workshop each management team were required to present to shareholders on strategy and performance. Facilitators also provided reflections on how teams collaborated, how decisions were made, and which behavioral and strategic levers led to success or failure.

The Experience

The response from participants to the simulation component was overwhelmingly positive. Many highlighted the gamified nature of the experience, which made learning both engaging and memorable.

students playing business simulation

“The methodology, the touched topics and the experienced trainers make this program very valuable to become a better leader.”

Advice for Annika Koch (Program Manager) to others considering a simulation for leadership and management training:

“The simulation is a great add-on and is a lot of fun. Take enough time to prepare the program [and] getting to know the simulation. The Smartsims team is extremely helpful and we greatly enjoyed the collaboration. The simulation can be used in lots of ways, from finance trainings to business leader trainings like ours. Adding your own storyline around it is crucial to make it come alive.”

Discover how experiential learning can transform your team. Start developing your future leaders today.

New Modern & Intuitive Business Simulation Interface

Our new simulation interface is now available for all courses using our:

This has been a long-term project focused on modernizing the interface and decisions, making the user experience more intuitive and improving student’s user experience.

The new interface and navigation experience is built around a new onboarding process, a new company dashboard and decision screens which provide students with relevant information when they need it. We believe these changes will expedite students becoming power users, and therefore, accelerate learning outcomes.

A New Onboarding Experience

When students first log in, and after each rollover, they are provided with information for the year ahead and a short explainer video to help them get started.

And after a rollover key results are displayed:

The New Company Home Page

Students now have a new company dashboard as the default start page:

The Home Page features company info, KPIs, quick links to product decisions and new decisions, key reports and relevant videos for the year ahead.

Top Menu Navigation

A modern top-menu navigation system groups decisions into logical, functional decision areas.

Select menu items feature a drop-down to access a sub-menu:

Intuitive Decision Screens

Our improved decision screens feature information, results and reports all relevant to the decisions they are making on that specific screen. Also, our integrated Live Forecast at the top-right.

Our New Help Widget

The new Help widget includes a search feature, screen-specific FAQs and videos, and links to updated articles, Player’s Manual and access to the Smartsims Support Team.

Improved Report Menu & Reports

An easier to use approach to the Reports menu, sorted by functional area and each includes a description to help students Updated reports and a new search feature.

If you have any questions, feedback or suggestions please contact us.

– January 2022

Warren-Schlesinger-Ithaca-Professor

Ithaca College Professors Win 2017 MAACBA Teaching Innovation Award

Congratulations to Alan Cohen, Hormoz Movassaghi and Warren Schlesinger for winning the Middle Atlantic Association Colleges of Business Administration’s 2017 Innovation in Teaching Award for their work with the freshman course – World of Business.

The MAACBA selected Ithaca College’s business course from 26 other submissions in the undergraduate category. Lawrence Singleton, President of MAACBA and Dean of Marist School of Management, said the Innovation in Teaching award is an important recognition in alternative teaching methods within business schools.

The World of Business course at Ithaca College is a requirement for all freshmen in the business school and has been taught for almost 20 years, with over half of this period using a different business simulation. However, this year the faculty and Dean, Sean Reid, made significant changes to the course; including a new simulation – MikesBikes Introduction.

Schlesinger said the simulation requires students to work in groups both in and out of class to manage their own bicycle manufacturing company. They must rely on the skills learned in the course to make decisions ranging from pricing and marketing their products, to making finance and product development decisions.

“If we’re teaching from an academic perspective about marketing, finance and accounting, we really wanted a simulation that would stretch our students and really bring their academic concepts. They would apply it in the simulation and compete with each team in the simulation. This is working fantastically well”

Freshman business student Zachary Islam said he finds the MikesBikes Intro simulation enjoyable and engaging.

“The MikesBikes game makes it really fun”

During the summer, prior to the start of the school year, students receive emails giving them the contact information for their MikesBikes group. Once the World of Business class starts, students sit and work with their group. Schlesinger said this early formation of groups allows students to come to the college as freshmen who have already formed connections with peers and cemented the importance of collaboration.

“We really focus on teamwork because when they get out into the business world, that’s really of critical importance. Also, we feel that students are more likely to persist at Ithaca College and be successful as freshmen if they develop connections and bonds”

 

Adapted from an article written by Laura O’Brien and originally published in The Ithacan.

Experiential Learning Future of Education

3 Reasons Why Experiential Learning is the Future of Education

We’re in the midst of a digital revolution, with rote learning and static classrooms becoming a thing of the past. Experiential learning is the future of education, with business simulation games becoming the norm in universities and colleges across the USA, in particularly in the Midwest*. Each year more and more business schools are offering business simulation courses as a forward thinking alternative to traditional education.
Continue reading 3 Reasons Why Experiential Learning is the Future of Education

Business Simulations: Real-World Experience for Tomorrow’s Professionals

To truly grasp the impact strategy and management decision-making have on business outcomes, students need real world experience. Smartsims business simulations encourage student engagement and accelerate learning by giving students their own business experience.
Continue reading Business Simulations: Real-World Experience for Tomorrow’s Professionals