Providing an entire workforce with the necessary workplace training to develop the commercial skills needed to achieve commercial success can be difficult as it requires each member of staff to possess a deep understanding of exactly how their business operates, in order to understand what is necessary to succeed.
Business simulations can be tailored to fully immerse employees into the operations and KPIs of a business to make critical decisions and learn from them. By allowing employees to establish, run and grow a business matched to the actual business they work for in teams, they can improve commercial skills to a professional standard.
Establishing commercial skills
Business simulations allow employees to establish a business with the same strategies as the company they work for, planning relevant aspects such as operations, finance, customer service and people management. By doing this, they can make important decisions regarding the business and review these without any real consequences, while simultaneously developing commercial skills that can be embedded back in the workplace.
Running the business
By developing the skills learnt from establishing relevant commercial skills, members of staff can work in teams to run a simulated business as part of the workplace training process. By expanding operations and attempting to meet goals and objectives specific to a business, employees develop their understanding of exactly how the business should run.
Growing the business
The final stage of the business simulation requires employees to develop their commercial skills of the company and relevant industry even further by expanding and seeking new opportunities to drive commercial success. In doing this, the workforce can learn the long term goals of the business and them this back into the workplace.
Reflecting on the business simulation
Tying everything that has been learnt back together, employees can reflect on the decisions that have been made and ultimately assess how their performance compares to the actual leadership decisions and contexts of the business. In doing this, employees come away with a practical understanding on what the long term ambitions are for the company, and can engage with their roles equipped with the knowledge of any potential consequences of critical decisions.
In summary, the task of training an entire workforce to possess the commercial skills necessary to succeed in delivering the requirements of a business can be achieved through bespoke business simulations that match strategic company goals throughout. By using experiential methods of workplace training, employees are more likely to retain the information learnt, while improving team development skills to boost workplace morale.