Business Simulations

Business Simulations Experiential learning solutions to drive growth and engagement

“Post-programme, I see significant differences in people; the way they prioritise and stand up for their ideas and

beliefs.” David Sesin, CFO, Fresh-Fruit

Introduction to Cranfield Business Simulations

Our simulations design incorporates a blended approach, seamlessly integrating online learning, Cranfield’s Global Online Stackables, interactive synchronous teaching, and active participation within a risk-free, yet lifelike, VUCA environment. This approach provides a shared platform for fostering meaningful business discussions while cultivating essential knowledge, behaviours, and skills. A sandpit for developing enterprise thinking, team dynamics and collaboration in a realistic risk-free environment. Who participates Our Business Simulations can benefit a wide range of individuals and groups from all functions within an organisation. These include but are not limited to: • Senior leadership and executives seeking to refine and expand strategic thinking, leadership prowess and enhance self-awareness in their roles. • Middle Managers looking to improve their enterprise and leadership skills. • New Managers looking to gain experience in managing teams and making critical decisions. • Leaders taking on profit and cost centre responsibilities. • Geographically diverse teams, especially those undergoing integration post mergers and acquisitions, seeking strategic alignment. • Cross-functional teams to collaborate on common goals, fostering teamwork, communication, and a better understanding of the organisation’s interdependencies. • HR and Talent Development Teams for leadership development, team building, conflict resolution, and change management training.

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Advantages of using Business Simulations Elevate your learning journey beyond the ordinary. Our business simulations are designed to provide a valuable learning experience for participants by immersing them in a realistic business environment. The advantages of this are:

Experiential learning Gain practical experience and skills by making decisions and observing outcomes in a controlled setting.

VUCA challenges Preparation to handle real-world challenges. They learn to adapt, make informed decisions under uncertainty, and manage complexity. Interconnected business operations Understand how decisions in one department can affect others and offers critical insights into the challenges others in the organisation face.

Teamwork and collaboration Develop teamwork, fostering collaboration and communication among participants.

Market dynamics Understanding how individual organisation decisions impact the market and how competing organisations influence each others success.

Risk-free environment Individuals can experiment with different strategies, approaches and behaviours and without real-world consequences.

Feedback and evaluation Opportunities for feedback and evaluation, enabling participants to identify strengths and areas for improvement.

Scenario analysis Explore different scenarios and their potential outcomes, enhancing strategic thinking and decision-making skills.

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Benefits and impacts

Strengthen trust and build new team dynamics, Enhance collaboration and demonstrate the value of working beyond silos, Increase communication and information management, Increase team productivity, Support culture change. Team

Individual

Organisation Consolidate corporate identity and value proposition, Encourage strategic alignment, Foster enterprise thinking and creative problem-solving, Strengthen organisational communication skills, Optimise financial management, Embed learning tools and new approaches, Increase the returns from your learning budget.

Develop leadership and resilience, Increase business acumen and strategic vision, Enhance decision-making and problem-solving, Improve functional knowledge and data analysis, Enhance communication and presentation skills, Improve on-job performance and inspire behavioural change, Fuel career progression.

“Everyone I’ve spoken to has mentioned how good the programme has been and when looking through the materials myself, I thought they were spot on. Couldn’t have wished for anything more.” Kiet Huynh, CEO, Rotork

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Develop core competencies Cranfield Business Simulations serve as immersive platforms where participants engage in realistic business scenarios, honing their abilities in decision-making, strategic thinking, and problem-solving. By providing hands-on, expertly facilitated experience, we help individuals understand theoretical concepts, foster teamwork and adaptability, and cultivate essential skills like critical thinking and financial literacy in a fun learning environment. Through interactive feedback, simulations prepare participants to navigate dynamic business environments effectively, equipping them with the multifaceted competencies needed for leadership success. Our Business Simulations focus on three key leadership development areas: Knowledge acquisition, Skills development and Behavioural outcomes.

Below is a more extensive list of these three key areas:

Cognitive

Cognitive strategies, Time management, Autonomy, Analytical thinking, Decision making, Problem solving, Risk management, Creative thinking, Workload management. Information sharing, Collaboration, Teamwork, Communication, Conflict resolution, Networking. Interactive

Strategic, Market orientation, Market analysis, Understanding business operations, Business processes, Entrepreneurial knowledge, Systems thinking, Accounting, Financial management, Connecting theory with practice.

Knowledge acquisition

Skill development

Business Simulations learning outcomes

Behavioural outcomes

Autonomy, Engagement, Motivation, Self-efficacy, Self-confidence, Satisfaction, Self-control and discipline, Independence, Failure tolerance.

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“The programme was a fantastic way to expand my knowledge, leadership skills and network within a global organisation. The work was challenging and demanding but also fun, made even more enjoyable by working with great teammates and sim facilitators.” Participant from Dole Plc

How a simulation can be integrated into your programme

These are some examples of how organisations have integrated Cranfield’s Business Simulations into the development programmes.

1–10 weeks online delivery with business mentoring support Our blended online simulation delivery and participation create an immersive and engaging environment.

1–2 days online or face-to-face delivery with full facilitation This programme will equip you to address the challenges and dilemmas that you are facing, providing you with the tools to be a confident leader for the future.

You will explore: • Holistic vi ew of the business, • a VUCA environment, • cross-functional dependences, • strategy development and execution, • financial implications of decision-making, • four perspectives of leadership, • strategies to manage communication with stakeholders, • sharing knowledge and experience, • other subject areas’ themes available on request.

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Typical themes include but are not limited to:

Strategy Lens – Developing strategic thinking The Strategy Lens theme provides ways to think about the organisation and develop the confidence to perform as strategic leaders. To be able to do this requires forming a view on five major strategic questions that allow participants to act with intention in a world that they cannot control. Finance Lens – An introduction to financial and management accounting The Finance Lens theme develops an understanding of the three financial statements, working capital, and simple forms of finance and investment. Functions Lens – Breaking down silo mentality The Functions Lens theme highlights the importance of understanding different technical roles within an organisation and promoting collaboration. For example, Sales, Marketing, and Operations need to work together effectively to achieve shared goals. Team Development The Team Development theme can be linked to existing psychometrics introduced by the organisation to develop the participant individuals and teams, and further supported by a simple tool monitoring the temperature of the team, married with Tuckman’s 5 Stages of Team Development.

Purpose of Business Ventures into how business can help transform economic systems for greater environmental sustainability.

Consolidation and Reflections Provides an opportunity for all teams to come together to share their learning, what went well, what didn’t and what they will do differently. Including what will they STOP doing, START doing, and CONTINUE to do as part of the programme and the So, What, What Next? What learning will they apply back in the business.

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Our experience and unique approach to embedding experiential learning in development programmes can transform your organisation’s business results. We offer experiential learning as a standalone solution, one that fits with an already existing programme or in an eco-system of programmes, or help you create an entirely new learning path for your employees in sole collaboration with Cranfield or involving partners. A practical example of the programme approach

4-6 week programme An example learning journey

Pre-work Orientation and familiarising yourself with peers and tutors.

Trial session

Introduction into simulation.

Concept, practice and reflection

Teams explore key business themes, working with a business mentor to embed new learning and reflect on results from previous stages. Some of the key themes include strategy, finance, operations and sales and marketing.

Reflection

Wrap up

Reflection as an individual and as a team to aid sharing of experience, knowledge, skills and behaviours.

Finish working on your action learning project.

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Teaching team

Karen Valverde Karen is a business simulations expert. She has over 20 years of experience in designing and integrating simulations into executive development initiatives for clients, customising them to meet specific learning objectives across various industries in the UK, Western Europe, and Asia. She excels in crafting learning experiences that bridge theoretical knowledge with practical skills, guiding participants through simulation-based programs to facilitate dynamic and effective learning processes. Evelyn Fujar Evelyn is Business Simulations Manager and Executive Education Consultant at Cranfield Executive Development (CED). She has over ten years of experience integrating and delivering experiential learning tools such as simulations, case studies, and gamification into executive development programs for talent, senior leaders, and the executive board. She has worked with clients and delegates across the globe. Our team continues to develop a suite of simulations designed to run face-to-face, online, or in a hybrid manner to enable organisations to increase their performance and growth.

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Experiential learning solutions to drive growth and engagement. Our business development team are waiting to talk to you. T: +44 (0)1234 754500 E: execdev@cranfield.ac.uk www.cranfield.ac.uk/som/businessimulations

The solution described in this document is provide by Cranfield Management Development Ltd, a wholly owned subsidiary of Cranfield University. Every effort is made to ensure that the information in this leaflet is correct at the time it is printed. Please check www.cranfield.ac.uk/som/executive for the latest details.

Terms and conditions can be found at www.cranfield.ac.uk/som/executivetc

Version 1. April 2024.

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