Employees are often promoted to their first leadership position as a result of their performance as individual contributors. These new leaders, therefore, need to make the shift from delivering results themselves to delivering results through others. In some cases, individuals are not promoted to people-leadership roles but rather to larger-scope individual contributor roles. In these types of roles, they are required to influence and deliver results through others, often as project leaders or by working with cross-functional or matrixed teams. Insight Experience is excited to have recently adapted a leadership development program, originally designed for frontline and first-time leaders, into one for individual contributors. Though there were some notable changes to the program design and business simulation, the core learning points remain intact.
A riddle, presented to Archie Bunker in the television show All in the Family, left me befuddled as a child in the 1970s. What’s your answer?
Insight Experience is delighted to announce the acceptance of three prestigious 2021 Brandon Hall Awards. The Brandon Hall Group is a "preeminent research and analyst firm, with more than 10,000 clients globally and more than 20 years of delivering research-based solutions that empower excellence in organizations.1" Our 2021 awards are as follows:
When a client reaches out to us to discuss the creation of a Business Acumen leadership development course, they typically begin by stressing that they would like to help their leaders understand “the Big Picture.” As the design process unfolds, we discuss their overarching corporate goals and how the target population impacts those goals. This sets the priorities for the course, considerations such as: how much time to spend on revenue recognition and accounts receivable; whether to include investment analysis; and how closely to examine the competitive performance in key markets.
One of the elements that is often absent from virtual leadership development programs is the lively “oh, by the way” exchanges — the hallway conversations that frequently occur between participants at in-person programs. One approach Insight Experience has taken to combat this is to have participants engage in Colleague Conversations or Virtual Watercooler Chats within our learning platform. One of the most insightful conversations leaders explore during our Executing Strategy leadership development program is about balancing Dance Floor time with Balcony time. If you don’t already know the Balcony metaphor, check it out!
Having an increased literacy in business acumen concepts helps leaders and individuals alike make sense of the financial world and the vast amount of information and data available to them every day. From stimulus checks, to the paycheck protection program, to a stock market that reaches new records on a weekly basis, the last 18 months has required leaders in all industries to understand and make difficult tradeoffs and investments decisions when it comes to bolstering their company’s financial performance. The last 18 months have also proved to be a fascinating time for individual investors with the rise of cryptocurrencies like Dogecoin and with the events of AMC and GameStop.
At Insight Experience, we believe in the value of using the business simulation methodology to teach business acumen concepts. We sat down with Insight Experience expert facilitator Tim Goodman, who has over 25 years of experience in executive education and management consulting and asked him to share his insights on the benefits of experiential business simulations for participants learning all about financial decision-making processes.