The world of business simulations is a massive one. There are many different types of simulations, and each one can be used in a variety of ways by companies and organisations to train their employees on how to handle workplace situations.
Although these training tools are helpful, some myths about them must be debunked. There are many business Simulation Myths. This article will discuss some common myths about business simulation and why they aren’t accurate portrayals of what these learning tools can do for your company or organisation.
Myth #1: Business Simulation is Just Another Buzzword
Business simulation is a buzzword, but it’s valid. These simulations are a specific type of simulation that has been used in the corporate world for years. They’re intended to be used in training programs and to help people learn valuable business skills by applying them in simulated environments.
Business simulators are powerful training tools because they provide immediate feedback on performance and allow users to see how their decisions impact outcomes over time. They also can create an immersive company simulator environment where users feel like they’re working within an actual organisation, which helps make learning more enjoyable and memorable. Additionally, simulators use real-world data instead of artificial variables like other gaming platforms. They tend to offer more accurate representations of actual business situations—which means your employees will gain real-life experience from using them!
Myth #2: Business Simulation Designs Are Rigid and Inflexible
The truth is that business simulation designs can be very flexible. The variety of ways in which simulations can be designed to react and change based on the actions of the participants makes them highly adaptable for most organisations’ needs.
For example, a simulation designed to test a sales team’s ability to sell products may require each participant to sell their product to at least one customer daily. If a participant does not reach this quota by the end of the simulation, then additional steps may be taken by the simulation (and its designers) to ensure they do it. A game designer might also provide opportunities for extra points or bonus items if participants achieve specific goals or perform well enough during certain situations; these incentives could encourage better performance overall throughout all phases of an organisation’s workflow process.
Myth #3: Business Simulations Are Expensive
The misconception that business simulations are too expensive is common, and it’s understandable why people feel this way. You have likely considered the high costs of training programs in the past, like going to a seminar or hiring an outside trainer.
They are not expensive, however! They can be very affordable depending on your needs and budget.
The cost will depend on factors like how many employees need training.
- Do they require multiple levels of activity?
- Are all participants located together in the exact location or spread out across various locations?
If you have less than ten employees who need basic training for only 30 minutes, you may find our price point quite affordable! Our first goal is always to ensure our customers get what they want at an affordable price, so contact us today for more information about our pricing structure!
Check out eVULX for affordable solutions.
Myth #4: Business Simulations Are Only for Big Corporations
All types of organisations use business simulation; otherwise, it’d be a myth. Whether your organisation is a small, medium or large business, for-profit or non-profit, government agency, school or university – business simulation can help you run more efficiently.
It allows you to gain insight into how your organisation runs and helps you determine where changes need to be made to improve performance.
Myth #5: Learning Outcomes of Business Simulation Can’t Be Measured Reliably
When it comes to assessing learning outcomes across many business simulations, even the usually sought-after and highly reliable surveys, interviews, and post-tests don’t really cut it. While it’s true that surveys always measure learning outcomes, they lack a significant amount of validity. The problem is due to how individuals respond to the questions, or in other words — how honest the responses are.
Related Article: Virtual Reality Simulation- Definition & Features
We hope this article has helped dispel some of the myths about business simulation and shown you how they can be used to improve your organisation’s learning capabilities. With so many business simulation companies, be sure you choose your investment right.