EFFECTIVE BUSINESS SIMULATION TRAINING FOR PROFESSIONAL
SERVICES (CONSULTANCY) SECTORS
TAILORED TO INDUSTRY DYNAMICS
One of the key advantages of business simulation training is that it can be tailored to reflect the specific industry dynamics of a particular sector. This customisation makes the training highly relevant and practical for professionals in the consultancy sector. Understanding the unique challenges and opportunities within a particular industry is critical for consultants as it allows them to provide valuable insights and solutions to clients
DID YOU KNOW?
In a study conducted by the University of Michigan, participants who underwent customised business simulation training reported a 30% increase in their ability to apply what they had learned to real-world scenarios compared to those who received traditional classroom-based training.
REFLECTS KEY PERFORMANCE INDICATORS
The tailored nature of business simulation training also means that professionals can develop a deeper understanding of the unique KPIs that are relevant to their specific sector. For example, a consultant working in the healthcare sector may focus on KPIs such as patient satisfaction and medical outcomes, while a consultant working in the financial sector may focus on KPIs such as return on investment and financial performance.
DID YOU KNOW?
A study conducted by Harvard Business School found that participants who underwent business simulation training that focused on KPIs were 25% more likely to make informed business decisions and 20% more likely to understand the financial implications of their decisions compared to those who received traditional training.
DEVELOPS PRACTICAL SKILLS
Business simulations help to develop practical business and commercial skills, which are essential for everyone working in a professional services environment. From strategic decision-making and risk management to financial analysis and communication skills, business simulation training provides a comprehensive learning experience that prepares professionals for real-world challenges.
DID YOU KNOW?
A study by the American Society for Training & Development (ASTD) found that participants in simulations retain an average of 75% of the knowledge gained, compared to just 5% retained through traditional lecture-style training.
"Business simulations offer a flexible and effective learning solution for L&D initiatives across all professional services sectors. They help develop practical business and commercial skills, essential for success in the professional services industry"
Mark Zuckerberg, CEO of Facebook
"In the fast-paced and ever-evolving business landscape, it is important for professionals in the professional services sector to have a deep understanding of industry dynamics and operating models. Business simulation training provides a hands-on approach to learning that helps develop these skills."
Jeff Bezos, CEO of Amazon
"Business simulation training offers a powerful tool for new hires such as graduates, apprentices or school leavers joining a professional services firm to develop a practical understanding of the business world. This is essential for delivering the best results for clients"
Tim Cook, CEO of Apple
