Simulations
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 self-study booklet series. The
Simulation is designed to work in parallel with the self-study booklets. 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.
The Business Center
120 Westview Lane
Oak Ridge, TN 37830
865-220-0774
888-988-2275 |
