Simulations are designed so that participants can engage in activities that elicit real-life behaviors. Simulations have been used in training programs to provide experiences that participants can discuss to learn more about their daily working relationships. Simulations have also been used to collect information about the behaviors of persons being considered for promotion or hiring.
The Business Center provides two simulations. These are intended for use as developmental activities.
BIZ WIZ® Universal Simulation
The BIZ WIZ® Universal Simulation is a dynamic and exciting learning experience. It brings to life the financial realities of running a business. It's more than a game, it's a reflection of reality! That's why we call it a "simulation." It educates employees from the shop floor to the corporate office. The BIZ WIZ ® Universal Simulation is great for organizations pursuing higher levels of employee involvement or empowerment. To participate in the Simulation, participants should have a basic understanding of financial concepts. This is easily provided by the BIZ WIZ® Universal seminar or the Business Basics Bestseller #1 book. The Simulation is designed to work in parallel with the self-study reading or the full seminar. Other training or experience may be substituted if it is appropriate.
In the classroom, up to 24 participants are divided into teams of two. Each team is a company. Companies compete with each other. The pairs of participants for each company become the Chief Executive Officers and the Chief Financial Officers for their firms. The officers have both individual and team responsibilities. Through these roles, they gain intellectual and emotional insight into running a business from top to bottom.
Companies sell products and services to their customers. They earn sales income. They pay their bills. When they make a profit, they pay taxes. They finance the assets of their operations through debt and equity. They make executive decisions affecting their companies' financial performances. They ride the ups and downs of the economy. All along the way they learn by applying knowledge and gaining new perspectives. It's not only unforgettable education, it's a ton of fun!
The Simulation can be played for up to four fiscal years. The first year contains several "rounds" to highlight different aspects of a company's financial operations. These include the income statement, balance sheet, performance measures, and sources and uses of capital. During the Simulation, the state of the economy and the demand for products changes. In a few simulated years, the economic cycle from recession to growth and maturity is duplicated.
Groups of three or four companies sit at separate tables. Each table has its own reusable playing board and card decks. Individual companies use a consumable Company Kit with a business license and forms to keep track of their performance.
Competition leaps to life as each company rolls a die to determine how many months it will move forward in the year. Each space on the board represents one month of a fiscal year. Every time a company moves, it draws an "Event" card. These cards describe positive and negative events that happen to companies. Some also give options for decision making. The events are related to the current market conditions.
Each company keeps track of its own events. At the end of each round, the effects of all the events are calculated and each company reports its performance.
The Simulation is conducted by an Administrator. A thorough Leader's Guide explains all the details for running the Simulation and includes visual aids. The Administrator provides the directions for playing, presents the market conditions at the start of each year, and explains record keeping and financial reporting. "Reflection" questions are used to help participants translate experience into insight.
BIZ WIZ® Universal and the BIZ WIZ® Universal Simulation were developed by The Business Center. The original customized version of BIZ WIZ® has been in use by Fortune 500 firms since 1988. Thousands of individuals have benefited immensely from the education they received through BIZ WIZ®. Organizations using BIZ WIZ® materials can request pilot sessions, administrator training, and customization to meet their specific needs.
Nuclear Nightmare Simulation
The NNS places participants in a fast-paced environment where time, communication, and work coordination are essential for success. Groups from 12 - 30 can participate. The scenario describes a nuclear facility experiencing a potentially catastrophic meltdown unless the participants can assemble enough neutralizing devices to stop the run-away reaction.
To begin, the participants are divided into subgroups with specific tools, materials, and work assignments. Output and quality goals are set. Time is provided to plan the task and then work begins. Periodic pauses are provided for the group to discuss its effectiveness and reorganize its work and communications. A final discussion is conducted and observers assist the group in processing its learning using a structured feedback format. Participants learn for themselves the need for leadership, communication, and the integration of work activities.