In India, most B-schools teach business management through books, case studies & role plays. Other than on-job training, all the learning methods are conventional & offer one way learning, which do not have long lasting effect on students.
The situation is not very different, when it comes to corporate trainings for Managers & middle level management professionals. Corporate trainers do not have enough content to engage them and it causes low attendance and inefficiency.
Learning through simulation tools is very common in MBA & corporate leadership programs in Europe & US. This interactive simulation concept allows participants to take the seat of a CEO and make decisions on business issues for a given case. One can make mistakes & learn from them in the subsequent session of decision, which happens within 3hrs itself.
The sense of ownership & responsibility to run a company & speed of getting response from the simulation tool makes the learning experience very powerful. Competitive spirit & team building to perform the best, excites & brings out the best from the participants. Because of experiential learning this method is extremely effective & efficient.
|Students||- Higher quality of education will lead to higher satisfaction
- Positive word of mouth & higher referral for subsequent batches
- Better assimilation of subjects will lead to better placements
|Faculty||- Higher motivation by using advanced state-of-the-art teaching tools
- Additional compensation will help retain faculty longer
- Possibility to work as corporate trainer & earn more exposure
|Competition||- USP against the competition to ensure higher intake
- Improvement in ranking of the school & hence consideration
- Higher value proposition against the competition
|Promoters||- Higher price premium and increased topline
- Reduced marketing cost per intake & faculty retention costs
|Recipient Managers||- Revisit principles of management, strategic alignment & resource allocation
- Pre-live life of a CEO & see beyond functional goals
- Soft skills enhancement through team building, inter personnel & negotiation skills
|HR & Organisation||- Use of advanced state-of-the-art training tool beyond convention
- Higher attendance, interest & assimilation of cross functional know-how and motivation of the managers
- Lower costs by reducing risk of hiring or promoting wrong candidates
- Creation of leadership pipeline, which is strategically aligned to bring higher efficiency in business