Business Simulations for Strategy Testing

Hello World-

Have you ever considered using a business simulation to test your corporate strategy? If so, great. What did you think? If not, have you considered it? This brings up the questions:

How do I test my strategy using a business simulation

In the industry, this is really a type of serious game. Strategic testing is where companies use advanced computer modeling to simulation their future strategy and see the outcomes. You don't always have to use a computer based simulation, but you will have to simulate something somehow. Have you ever seen the movie War Games with Matthew Broderick. Remember how they used serious games which was controlled by the WOPR? Well, business strategy testing is very similar. It uses advanced modeling to run what if scenarios.

Large companies use these to gain insight into potential outcomes of a new business strategy. The good news is that these have recently become accessible for the not so large corporation. Drop us a line if you're interested in learning more. But suffice it to say they aren't as expensive as they used to be.

Hope this helps.

Business Simulations, Business Games, Serious Games

Hello World-
This has been talked about quite a bit in the past, but the topic seems to be coming up quite a bit again.

What is the difference between Business Simulations, Business Games, and Serious Games?

In short, very little, but it depends on who you're talking to. Here are some tips:
- Business Simulations- Business Simulations are often used for business strategy topics. As usual, this isn't always the case, but more often than not, a simulation will be used to help work on a business strategy related topic.
- Business Games- Business Games are really a catch all. These solutions can range from the dreaded, 'Catch me as a fall' exercise all the way up through custom business simulations. Unfortunately, this is a very generic term.
- Serious Game- This is the latest craze and most marketable catch phrase. This can be anything from a business game all the way through military simulations. Serious game (or business ramification) is really just a lot more marketable for vendors. People will certainly disagree, but they are probably working to sell a serious game :D.

Short and sweet. As you can tell, there is a lot changing over here (in a very very good way) and thus, we're head down in coding and changes. Change is a great thing!

Have a great day

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Strategy Testing Using Business Simulations

Hello World-

These scenarios are rare, but they do exist and they are exciting. Using a business simulation and/or serious game for strategy testing. How does this work? Its simple in concept, but complex in execution. Here's how it works:

Strategy Testing Using a Business Simulation

The setup: You have a new strategy you're thinking of implementing. The business plan is written, and everyone has approved of it. There's a little voice inside of you saying, "Is this business strategy right? How will the marketplace change once we change? I'd like to test the strategy first."

The concept: A custom business simulation that will take all the economics of your industry, your company, your business plan, your strengths, your weaknesses, etc. This business simulation for strategy testing runs scenarios. The strategy simulation will then show you potential outcomes based on specific variables. Want to try another scenario? No problem. The strategy simulation lets you try before you buy.

The execution: This is complicated. Creating a business strategy simulation is very complex. The complexity lies in the industry research before building the solution. The solution is a combination of 3 business simulations: Economic models, Reaction models, and Outcome models. Even though these strategy testing models run separately, they are totally reliant on each other.

The value: The value is self explanatory. A business strategy simulation gives leaders the option to try before they buy. Shifting strategy is complex and requires significant resource allocation. Needless to say, this takes a lot of time. Its much better to know the potential outcomes ahead of time.

Summary- Using a strategy testing simulation could be time well spent. You may see things you didn't see before. Using these types of business simulations can be valuable, but takes commitment. It also takes a little time. In most cases, leaders want to do do do. A business strategy simulation is more of a test test test type of solution.

Hope this helps!