Business Simulation Workshop in Galilee International Management Institute
On 19th September, a business simulation workshop, using Simformer innovative solutions, took place in Galilee International Management Institute (GIMI), Israel. The session was a part of the SME program and lasted for 8 hours with small breaks. The simulation workshop was led by Mr. Noam Levy, a senior lecturer and academic director at GIMI as well as the owner of N.T.C. management consulting agency. During the workshop the participants were engaged in highly intensive business simulation “Corporation in Distress”, one of the most widely used Simformer innovative simulations.
Two groups of executive managers from African countries participated in the simulation workshop. Within their groups they had to manage a retail corporation, which initially was made of 3 subdivisions. The subdivisions were located in different markets and offered various types of products. The participants had a lot of weight on their shoulders during this in-depth simulation: firstly, they had to delegate the responsibilities among themselves within a group. Secondly, they had to compete with each other in groups. The competition was tough and demanded a lot of efforts from the participants. While managing their virtual businesses, they had to devise winning business strategies and tactics, deal with tight timeframes and resources, and keep their eyes on the everchanging market trends.
After hours of intensive work, the participants were amazed with the whole process. They acknowledged the efforts and energy required to run a business venture. Although this time they were managing a virtual corporation, the participants agreed that this Simformer simulation managed to reflect the authenticity of real life business very precisely. They also recognized the added value that such virtual business simulations bring to training process: on one hand the participants of such simulations do not face the risks of real losses and failures, on the other hand they have the opportunity to learn about the complexities and obstacles of business management.
The participants considered the workshop as positive experience and some even expressed their will to have similar workshops in their organizations.