When you hear the term “business simulation," what comes to mind? Images of MBA case studies, computer-based games, maybe even memories of prior simulation experiences? You may be surprised to find that business simulations can be far more effective for your organization than you thought. Breaking down the common simulation misconceptions shows how valuable they can be for your organization.
The Institute for Corporate Productivity recently completed a case study about Ford Motor Company’s Global Executive Leadership Program.
Leadership development programs contain multiple learning methods, but none impact growth and development to the same degree as experiential learning. When leaders directly address their most common challenges by actually making the tough decisions in real time and reflecting upon the results, they begin to forge behaviors and a long-lasting leadership skills at rapid rates.
It’s no secret that strong leadership is required for a company to achieve ambitious and aspirational goals. Increasing the collective capabilities of your leadership team is essential if you want your organization to continue to grow, to capitalize on opportunities, and to respond to an ever-changing and increasingly complex global business environment.
What is a culture of leadership development? It’s a culture where leaders are intentional about leadership growth all the time, not just during year end performance reviews. It’s a culture where everyone is aware of what they are learning, as well as what they are doing. It’s a culture where feedback is offered frequently and with positive intent: the intent to help another person grow. It’s a culture where leaders visibly take the time to mentor and support the development of others.
Over the past ten years, I’ve led dozens of simulation-based workshops focused on executing strategy. I’ve learned much from the hundreds of students I’ve had the pleasure of teaching. But if there’s one thing I’ve learned – and one universal truth – that is common among the many companies with whom I’ve worked, it’s that there are “more good ideas than resources available to pursue them.”
Mission driven nonprofits can teach us a lot about one of leadership’s most powerful levers: discretionary effort.