Why Business Simulations are the Future of Team Building
The concept of gamification is well-known in the world of business, with this describing authentic elements of gameplay (such as competition or point accumulation) to activities such as marketing, sales and employee engagement.
Recent studies show that employees actually experience a 48% engagement increase through the practice of gamification, with 30% of respondents to one particular study confirming that this also leads to a heightened desire to be engaged while at work.
Of course, this ties in directly to business, marketing and team building simulations, which are provided by companies like ours and continue to become more sophisticated over time.
These simulations drive higher levels of knowledge retention and teach key skills more effectively, while also providing more cost-effective educational programs. But what are the core benefits of business simulations, and how will they become the future of team building?
What are the Benefits of Business Simulations?
When dealing with the type of authentic and targeted simulations that have been developed by StratX, there are a number of strategic advantages that need to be considered. These include:
- #1. The Development of Practical Skills: Because simulations combine the very best of theoretical and practical learning, they enable professionals to acquire critical-on-the-job skills in an engaging and focused environment. In the case of sales and marketing, this can include negotiations and brand management (more on this below), while simulations tend to impart and reinforce relevant theories much quicker and more efficiently over time.
- #2. Create Emotional Connections and Experiences: Effective and realistic business simulations can also create more impactful and emotional experiences for students, while the learning outcomes that emerge are likely to be retained for a much longer period of time. This is especially important when pursuing career development, as simulations contribute to more effective on-the-job training, which in turn translates into long-term savings and financial advantages for businesses.
- #3. Experience Authentic Challenges and Bottlenecks: When teaching sales and marketing theory, it can be hard to educate professionals on the challenges that they’re likely to encounter and the impact of bottlenecks pertaining to material, information and product flows. Simulation bridges this potential gap in learning, however, by using actual circumstances and corporeal scenarios and following them to a natural conclusion. This is central to the art of practical effective learning.
How can Business Simulations Aid Team Building?
The above factors are direct advantages of deploying business simulations, especially in relation to service-based skills such as marketing and sales.
However, business simulations can also introduce indirect benefits, including the successful development of soft skills and more immersive team building. But how can business simulations translate into more effective team building within your company? Let’s find out!
#1. Make Employees Better at Their Jobs
As already touched on, business simulations can help to develop practical skills like negotiating more efficiently and within a much shorter period of time.
Currently, for example, Biotest AG uses StratX Simulations to improve negotiation skills for their global sales team, creating a more talented and knowledgeable team that builds corporate value and the financial impact of each employee.
As employees become more skilled and better remunerated over time, they also improve in terms of productivity, morale and engagement levels. This creates a happier and more collaborative collective too, which naturally encourages more effective team building over time.
#2. Encourage Collaboration and the Development of Relevant Soft Skills
Business simulations are also associated with the development of soft skills, due to the deployment of authentic circumstances and the challenges encountered in the course of achieving resolutions.
Certainly, business simulations encourage participants to build key soft skills and team collaboration, especially as they compel practices such as individual and group decision-making.
These skills can augment the practical and technical skills taught by selected business simulations, while enabling teams to grow organically and in a scalable manner over time.
#3. Create a More Fun, Immersive and Engaging Workplace
Ultimately, the principle of team building is built on collaboration and engagement, but this works most effectively in a positive workplace and working culture.
There’s no doubt that business simulations can contribute to such an environment, especially when you introduce scenarios that combine elements of fun, teamwork and excitement to more mundane sales and marketing practices.
When you also embrace simulations that immerse participants in an authentic scenario that resonates with professionals, you’ll find that employees come together more and will help each other to achieve common goals and outcomes.
Each of these factors lend themselves to superior team building, especially within close-knit teams or small and more interconnected businesses.
The Last Word
Ultimately, business simulation software is key to the future of many business disciplines, including sales and marketing.
However, it also has the capacity to drive improved and more effective team building over time, while contributing to a more engaging, productive and collaborative workplace in the future.
This is good news for everyone, and there’s no doubt it can help to drive individual and collective growth throughout your business