Business Acumen is increasingly being viewed as a must-have competency for every leader at every level, to be viewed as a true business partner. It is the keenness and quickness in understanding and dealing with a business situation in a manner that is likely to lead to a good outcome.
FocusU in association with KNOLSKAPE brings the Build Your Business Simulation which is designed to help participants understand and practice business acumen and entrepreneurship capabilities. Within the simulation, participants assume the role of the company’s CEO, responsible for all the business decisions – pricing, production, quality, advertising, employee morale and ensuring the successful launch of a new venture. The simulation allows participants to read financial documents, understand the interdependency between functions, taking risks, and the importance of all the functions working together for the business to thrive and report high profits.
By enabling participants to experience and work through such challenges which are as close to real life as possible, the simulation analytics and debrief sessions (optional) by the facilitators help participants in deriving great insight into the skill of business acumen.
The simulation throws up useful analytics for individual participants that includes:
• Net Profit
• R&D Cost
• Market Share
• Employee Utilization
• Opportunity Lost
A few key parameters:
60-120 minutes (self-paced)
Where this can be run
Up to 25 per session
Debrief can be customised
Is the Build-Your-Business Simulation right for your team?
The simulation is specifically recommended for:
• Individual Contributors
• First Time Managers
• High Potential Employees
• Middle Level Managers
The competencies addressed by the simulation are:
• Business Acumen
• Strategic Execution
• Competitor Analysis
• Execution Excellence
• Market Orientation
• Inventory Management
The participant feedback for this simulation is compelling – with 90.80% participants saying they will recommend it to others. Here are a few snippets:
“The simulation provides non-business people an opportunity to learn how to run a business”
“The simulation is self-explanatory and very easy to work with. The instructions are exhaustive and the interface is intuitive”
“It was real time data, you can analyse each and every aspect of business”
“Planning options are very meticulous and exciting. Analysis section is slightly confusing as there are too many reports”
“Apart from the given metrics, depending on the market scenario, the simulation allows room for intuitive guesswork”