The StratX ExL experiential learning approach provides a powerful yet risk-free environment that places leaders of Fortune 500 companies in front of real-life business challenges. The aim is to test-drive key skills to lead diverse teams, execute best practices and collaborate to win.
Here, we explore our experiential learning program backbone – business simulations, and how you can use them as a transformative solution to prepare your leaders today and for the future.
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A business simulation is a highly immersive, web-based challenge that puts participants on realistic business scenarios that reflect today’s competitive world.
The challenge can be adapted to run a highly intense 3-day program or stretched over a more comprehensive 2-week learning journey, depending on your business objectives and needs.
We use this digital learning solution alongside other blended learning tools, exercises and challenges to create an impactful learning experience for teams and equip leaders with key relevant skills of today and tomorrow.
Simulations run over the span of multiple business years. Each round (business year) allows participants to analyze the effectiveness of their previous decisions and adjust their strategy accordingly. Combined with the risk-free environment, business simulations give participants the confidence to take risks, stretch themselves and practice transformative moves and agile ways of working.
Participants will need to successfully collaborate with their teammates to lead their fictitious company through a variety of challenges while driving long-term profitable and transformative growth. They will be exposed to different areas in the organization while working in cross-functional and diverse teams that encourage conversation and peer-to-peer learning.
Business simulations allow your leaders and teams to experience the consequences and see the outcomes first-hand. Our Experience-Learn-Apply methodology is based on the highly acknowledged 70:20:20 model, in which it is said that successful leaders gain 70% of their learnings from on-the-job experiences. It is not hard to see why this approach to learning is effective and is becoming so popular!
Skills such as emotional intelligence, collaboration, creativity and critical thinking will be essential for the leaders to navigate their teams through the challenges of the future. These skills are learned over time through experience and reflection. When business simulations are used alongside assessments such as 360-feedback and peer learning, participants learn these vital skills, build flexes and empower them and their teams in making decisions.
Arguably one of the most powerful benefits, the competitive nature of business simulations helps to build an emotionally charged and highly collaborative environment which leads to lasting on-the-job change and business impact.
Gamification has been one of the top trends of 2021 and we believe that it will continue to blend with other learning technologies years forward.
Our experiential learning initiatives use a wide range of modalities and tools to create a meaningful learning environment. Explore our suite of business simulations below to see why our business simulations get participants talking about our programs for years to come.
CentrX B2B For Future-Proof Leaders & High-Performing Teams
Centrx B2B is a highly engaging learning solution for leading B2B firms. Our initiatives meet a wide range of B2B business needs such as mastering commercial and marketing excellence, enhancing business acumen and customer-centricity to developing the leaders of today and tomorrow. Discover how we helped transform a leadership program using CentrX B2B.
CentrX BioPharma Towards Holistic Patient Experience
A biotechnology and pharmaceuticals learning solution focusing on the six critical areas of development in the industry; leadership, commercial strategies, multi-stakeholder value, holistic patient experience, engagement in a digital world, and the startup mentality. See our BioPharma case studies.
StratX Partner Simulations To Boost Business Performance
We also work with our long-term partner, StratX Simulations, to provide the Markstrat, BrandPRO, MixPRO, Digital MediaPRO and the BOSS simulations within our management development programs.
For any learning and development program to be a worthwhile investment, it needs to lead to tangible benefits to the organization. At StratX ExL, we use a variety of globally recognized methods of evaluating the impact of our corporate programs including the gold standard in program evaluation—the New World Kirkpatrick model.
The Kirkpatrick approach focuses on four distinct levels of program : Evaluation-Reaction, Learning, Behavior and Results, which is introduced to the employees prior to the beginning of the program, so the process of reflection is pre-empted. We supplement the Kirkpatrick methodology with additional tools such as Net Promoter Score (NPS), Formetris, TypeForm & Survey Monkey.
To find out more on how we measure learning impact, download our Experiential Learning for Impact: A User’s Guide.