In today’s fast-paced, ever-changing business environment, organisations must be able to adapt and evolve to meet new challenges and opportunities.
To achieve this, companies need to invest in their people, providing them with the skills, knowledge and behaviours required to succeed.
One effective way to achieve this is through large-scale, multi-regional business simulation training events.
A traditional approach to such events is to fill them with senior management speakers and present a range of corporate messages.
However, to truly transform organisational behaviour, such events must engage delegates both intellectually and emotionally and make them feel integral to the event.
Business simulations provide a powerful solution to this challenge, offering a flexible and highly immersive way to achieve lasting behaviour change.
A. Introduction to Business Simulations in Events
Business simulations bring a practical dimension to events, engaging delegates in hands-on activities that allow them to apply what they have learned.
This ‘doing’ rather than ‘listening’ approach is proven to be more effective in creating lasting behavioural change.
B. The Benefits of Business Simulations in Events
- More Effective Learning
Research has shown that business simulations offer a highly immersive and memorable experience, helping to embed and sustain key messages from a large-scale event.
For example, a study by the University of Warwick found that participants who completed a business simulation as part of a training program had significantly higher retention of key concepts compared to those who received traditional classroom training alone. According to the study, the use of business simulations in training programs can lead to retention rates as high as 90% compared to just 20% with traditional training methods.
- Positive Brand Association and Business Outcomes
Business simulations can also have a positive impact on the sponsor company's brand perception and overall business outcomes. A recent survey showed that 86% of attendees at events reported having a more positive perception of the sponsoring company after participating in a simulation.
Furthermore, the interactive nature of business simulations leads to increased engagement and better recall of key information, leading to more positive associations with the sponsoring brand.
- Networking Opportunities
The collaborative nature of business simulations provides great opportunities for networking and the exchange of best practices. Delegates work in teams, sharing their knowledge and experiences to achieve common goals, fostering a sense of community and providing a valuable platform for ongoing learning and development. In addition, the team-building aspect of business simulations can also help to improve communication and collaboration skills, which can have long-lasting benefits for both individuals and organisations.
- Flexibility for Virtual and Hybrid Events
The rise of virtual and hybrid events has created new opportunities for business simulations, offering event organisers a flexible solution for engaging delegates. Virtual simulations can be designed to be interactive and engaging, making use of technology to create immersive experiences. They can also be scaled to accommodate large numbers of participants, making them suitable for large-scale events. Hybrid simulations, which combine virtual and in-person elements, can also provide a flexible solution for event organisers, providing the benefits of face-to-face interaction while still allowing for virtual participation.
C. Challenges of Business Simulations in Events
- Finding the Right Balance
One of the main challenges is finding the right balance between making the simulation realistic and making it accessible to participants with varying levels of experience and knowledge.
- Relevance to the Event and Audience
Another challenge is ensuring that the simulation is relevant to the event and the audience. It is important for event organisers to carefully consider the objectives and goals of the event.
In conclusion, business simulations are a valuable tool for event organisers looking to engage delegates and drive behavioural change.
They offer a hands-on approach to learning, provide great networking opportunities, and can be adapted to virtual and hybrid environments.
As the events industry continues to evolve, business simulations will play an increasingly important role in creating engaging, impactful events.
Our team of experts works closely with clients to design simulations that align with their specific objectives and brand values. By partnering with MDA Training, organisations can benefit from customised simulations designed to meet their unique needs and drive measurable results.