Video: Exec Ed Perspectives
The Value of a High-Touch Business Simulation in EMBA & Exec Ed (3:26)
“There is a strong sense of empowerment that comes from these games,” says one client in this compilation of comments about our finance games.
EMBA and Exec Ed program students come from a wide variety of backgrounds. Many are anxious about gaps in their business knowledge. Schools know that students with a non-financial background may struggle to keep up if they don’t quickly acquire a working knowledge of finance.
Income|Outcome® Business Simulation Workshops – A Proven Solution for Exec Ed
For years, numerous leading business schools’ have used Income|Outcome business simulations to quickly prepare executive students for their rigorous courses. UM (Carlson) have been using the workshops in their Exec Ed programs with Select Comfort, General Mills, Polaris and more. They have also used the workshops in the US and in Europe. More recently, Texas A&M have begun using the workshops widely, including a Exploration and Production model which is particularly relevant in Texas.
We don’t replace the learning the faculty provides–we power-start the learning by providing a holistic visual understanding of business, a landscape within which all the subsequent lessons will be more memorable through context and connections.
Hands-On = High Engagement = Effective Learning
Our half- or full-day game-based business simulation workshops provide a ‘big picture’ understanding of how the pieces of business fit together. In our workshops, executives learn to:
- run a business by making decisions that directly affect the bottom line
- react to market conditions created by the other student teams
- prepare an income statement and balance sheet
- manage their budgets by monitoring cash flow and debts
Experiential Game-Based Learning – Effective for Executives
Students directly experience how low cash flow, high costs or debt can limit their ability to compete in the marketplace. They take on different roles–operations, sales, marketing and finance. They see how each role contributes to the financial health of their company. And they learn the value of having a competitive business strategy.
Everyone learns better when they learn by doing rather than by watching. Experiential learning is particularly effective for executives because the hands-on training will stand out from lecture-based classes. That‘s why experiential learning is a key method used in leading executive education programs. That’s why our workshops are the best choice for EMBA program kickoffs.
Relevant Team Building
The business simulation workshop is a fun and engaging icebreaker for the group. It also provides a relevant team building exercise in which the students learn to work together in solving business problems. This contextual relevancy improves the team building experience and provides lasting benefits throughout the program.
Workshop Results – Leveling the Field and Overcoming Fear of Finance
In 2012, WU (Vienna University of Economics and Business), ran a 1-day Income|Outcome workshop for an incoming EMBA cohort. The goal was to overcome student fears and increase the working financial abilities of students. The workshops were a great success–non-finance professionals more than doubled their confidence in their ability to read and act on information in financial statements. More importantly, 90% of the students felt their overall business acumen was greatly improved by the workshop. At the end of the workshop, everyone was confident that they could apply that knowledge in the real world. They all believed they could better participate in the budget process and in talking to their finance departments.
Learn more about how we can help you start engaging your students right at the start of your Exec Ed program with our business simulation workshops. More »