Business Simulation for Business Training
The Storwars business simulation provides the business training to allow the transition from the academic world to the business world, bridging the gap between the classroom and the real-life world of business decision making.
Storewars participants are required to analyze and solve complex problems, think in strategic ways, and integrate material across disciplines. Most importantly, they must act on their decisions and deal with the consequences by adjusting strategies on the spot.
Students do not need to role-play as they create the situation they are dealing with and it is the imagination and thought processes that fill in the details. The computer program becomes simply a tool for organizing the work and recording the team's decisions alongside with the decisions of the other teams.
The software calculates the market’s response and accurately imitates its behavior. The new companies’ financials and market research studies illustrate the market development and companies’ performance:
Has your market share increased? Are profits up or down? Has awareness of your brands increased? Which segments of customers have you attracted?
The following management skills are practiced during the business simulation:
• Strategic Planning and Thinking (ability to analyze circumstances, establish objectives, and lay out plans of coordinated activities that extend several planning periods into the future)
• Strategy Management (execution and constant adjustment of a strategy, solid cross-functional understanding of the business enterprise)
• Leadership, Teamwork, and Interpersonal Skills (a complete teambuilding experience: students must fight for their ideas, leverage and improve their negotiation skills and at the same time listen and respond to the ideas of their colleagues)
• Budgeting and Cash-Flow Management (seeing the decisions’ impact on accounts and profitability develop an intuitive understanding of financial statements and cash flows
• Understanding and Delivery of Customer Value (trial-and-error decision making leads to understanding the market and responding to and anticipating market needs)
Have a look at the standard 4-day agenda (Storewars usually takes 3-5 days).