Developing Financial and Business Skills Using Board Game
Details
The business world is getting more competitive and uncertain by the day. As we develop our people skills another core competence is the ability to understand, manage and develop business thinking including financial management skills. This is especially important as an executive assumes higher positions in a company.
How do we help or enable these executives (who are usually young Gen Y or promoted older supervisory staff) to quickly acquire these skills?
The conventional approach is to send them to a ‘normal’ training programme where the trainer talks to them, show slides and involves them in case studies and sharing. While this usual method works fairly well, the younger (and even older) participants
would prefer ‘learning by doing’ instead.
DESIGN FOR
This board simulation/game is especially effective when it is run for:
- Young Executives from junior to mid management from any Function/Dept
- Newly promoted supervisory staff to junior management positions
- Ability to ‘read’ and interpret market trends and changing scenarios and to take appropriate decisions, both short and longer term
- Ability to think strategically in business and implementing strategy into operational actions
- Manage a company well: operationally and financially
- Ability to enhance competitive and deal-making skills
- Manage own participation and contribution into a team under pressure and financial constraints
Participants form teams to manage a ‘company’ playing against 3 other ‘companies’ in a competitive environment. They will have to think and act both operationally and strategically in trying to beat the competition. There will issues and challenges in Finance (cashflow & Investments, etc.,), Supplier and Customer management, Government intervention & Banking, Deal Negotiations, Production and Quality issues and even HR training. The simulation has been run in many companies before and the focus is on ‘learning by participation (doing)’ and always has had good reviews.
Outline
Morning: 9.00am – 12.45pm
– Quick overview of how companies operate in a changing environment
– Briefing & Intro to the board simulation & relevance to real company operations
– Roadmap of Sales, Financial Performance tracking: Sales
Ledger, Income Statement, Balance Sheet and Investment Portfolio monitoring.
– Round 1 of Simulation
Afternoon: 2.00pm – 5.00pm
– Round 2 of simulation (with some quick 5 min inputs on:
cashflow, investments, costs & bidding for contracts…,)
– Round 3 of Simulation (with market changes and Government intervention, taxes, levies and bank loans..)
– Round 4 of Simulation (market gets more competitive…deal- making and negotiations..)
– Final Event: Each company to report on what happened to them and
why. Learning Insights for application on return to job.
Inaugurated as a voluntary society on 29 January 1966, the Malaysian Institute of Management (MIM) was incorporated as a limited company on 28 March 1975. As the national management organisation, MIM’s primary role is to promote management skills across Malaysia, exposing Malaysian companies to management best practice from all corners of the globe. It also acts as an important bridge between the private and public sectors.
Independent, non-political and not-for-profit, MIM serves as a platform for the free exchange of management ideas and experience, bringing together managers and organisations from all walks of life. It is also a development centre, committed to enhancing and maintaining professional management standards.
Related Courses
