Use a "Stakeholder Checklist" to Find the Best Business Simulation
eliza hl
Published Date
The Value of the Using the Big Picture in Business Simulations
A simulation that only looks at one department can reinforce silo thinking and may inadvertently hurt other departments.
Why Big-Picture Thinking Matters
The purpose of business acumen training is to improve decision-making and, in turn, strengthen the long-term health of a company. This requires an understanding of:
- How all components of the business work together to achieve results
- How decisions in one area don’t just impact the bottom line but also affect other departments' ability to make good decisions
The Ripple Effect of Decisions
For example, if Finance decides not to raise more capital, then:
- Operations can’t expand capacity
- Sales can’t go after larger customers
- The company misses out on potential long-term profitability
A simulation that only looks at one department encourages siloed thinking rather than helping participants understand the full impact of their decisions.
Considering All Stakeholders in Business Acumen Training
If a simulation only considers a few stakeholders, it may distance learners from full engagement and accountability. If decisions seem to only benefit one group (e.g., shareholders), participants may not see the broader impact on customers, employees, or long-term strategy.
The Best Business Simulations Include a Full Stakeholder View
Effective business simulations should reflect the perspectives of:
- Customers – Seeking value through pricing, quality, and payment terms
- Sales & Marketing – Focused on increasing market share
- Operations – Driving efficiency and productivity
- R&D – Creating future growth opportunities
- Finance – Managing cash flow and financial stability
- Suppliers – Running their own businesses and expecting timely payments
- Bankers – Minimizing risk and ensuring financial stability
- Investors – Balancing short-term rewards (dividends, stock price) with long-term growth
- Senior Managers – Responsible for holding all these elements together
Your Turn: How Does Your Business Simulation Compare?
- Which perspectives are emphasized in the business simulations you use?
- Which stakeholders aren’t included—and should be?
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