Storewars is a dynamic, live action total business management simulation, where participants take charge of a 200 mln doll virtual company and by developing strategies, negotiating and making decisions determine its success.
In each course, 18-35 participants are divided into 5 teams to take control of 2 retailers and 3 manufacturers, which they manage for a virtual period of 2-3 years. During a 3-5 day course the teams compete and interact to capture market share and drive value in their businesses.
The simulation addresses the complex relationship between retailers and manufacturers and teaches both sides to establish mutually beneficial win-win relationships on the basis of company’s financial statements, market studies, and negotiations.
Key lessons are reinforced with detailed coaching and feedback on the impact of strategic and tactical decisions made during the simulation. Additionally there are breakout sessions and lectures on burning up-to-date topics that relate the lessons back to real market issues.
Key learning objectives include:
General competences:
- Total business management: managing company resources to reach market goals
- Creating and implementing company, market, product and customer strategies
- Transforming information and data into profitable decisions
- Effective strategic and tactical decision making
- Working in multifunctional teams
- “Soft & Hard” negotiation skills
- Communication skills
- Emotional Intelligence development
Special competences:
- Retailer strategy and tactics
- Manufacturer strategy and tactics
- Managing product portfolios: manufacturer and retailer perspectives
- New product development and launch
- Private label management
- Understanding the drivers in the retailer-manufacturer relationships
- Establishing mutually beneficial trading relationships
- Understanding consumer and shopper marketing
- Brand power and store power: managing mindspace and shelfspace
While being a management development program, Storewars is also regularly used for team-building, leadership programs, trade partners networking and development, as well as for management assessment and recruitment.