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PS-5 - The Business Management Simulation Workshop

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In this course, we will use Cesium's 'SimFirm' simulation tool to practice all essential decisions made by managers in real life. The tool is a product based business management simulation that integrates the functional areas of production, marketing, and logistics. It increases the participants’ awareness of operating a company from a general management perspective. The simulation integrates a range of concepts from various management related disciplines, including marketing, production, logistics, and financial decision making. In addition, it links the organization to the wider context of business world and stakeholders.

Course Methodology


This course uses a web based simulation course with graphical interface where participants enter their strategic decisions. The task for the teams is to manage the sales and operations of an international pharmaceutical company. Key success factors include accurate forecasting and planning, analytical approach to decision making and good teamwork. Teams will develop and execute strategies for their simulated company operating in different markets with specific customer behavior, cost structures, and currency fluctuations. Teams will compete against each other and focus on cumulative earnings as the winning criteria.

Course Objectives


By the end of the course, participants will be able to:
  • Increase awareness of operating a company from a general management perspective
  • Recognize the interactions among the various companies and external influences in a complex and interrelated environment
  • Interpret and forecast market situations and market results and translate them into goal oriented decisions
  • Use fact based analytical decision making techniques by linking the decisions to cash flows and bottom line performance
  • Utilize teamwork and problem solving methods in a dynamically evolving marketplace

Course Outline


The power of business management simulation

  • How the Cesim SimFirm simulation can maximize your company performance
  • Familiarizing teams with the case study
  • Factors affecting market size
  • Sales and marketing decisions
  • Distribution and delivery priorities
  • Production decisions
  • Financing decisions
  • Conducting a practice round using the simulation platform

Discovery learning during decision rounds

  • Studying and interpreting market outlook
  • Calculating product level gross margin and distribution priorities
  • Managing optimal inventory levels without losing potential sales
  • Balancing investment in promotion and quality improvement
  • Choosing the best pricing strategy
  • Making the right production plan
  • Selecting financial decisions to support your annual plan

Strategy: The game plan towards achieving your vision

  • Surpassing the competition with the 4 elements of the strategy pyramid
  • Planning for victory through determining where to play and how to win
  • Applying Porter's grand strategies
  • Guaranteeing results by turning strategy into action

Teamwork: The secret weapon of sustainable strategy execution

  • Taking the team from formation to full potential performance
  • Leading a team through clear skies and storms
  • Eliminating conflict to achieve a common team goal

Product quality: Building a product that your customers desire

  • Investing in the organizational engine – production and logistics
  • Maximizing quality to build a lasting customer impression
  • The 'PDCA' cycle

Supply and demand management: embracing the customer’s perspective

  • Mastering price elasticity of demand to retain and grow your customers
  • Managing production and delivery levels for lean operations
  • Creating a profitable product portfolio

Marketing and customer care: creating endless promoters for your brand

  • Reaching all your customers through targeted promotion
  • Revealing the customer care secret that the Ritz-Carlton and apple employ

Financial management: Driving profitability and long term shareholder value

  • Making the right financial decisions to lead and grow
  • Analyzing the key financial statements
  • Studying the 5 key financial ratios that can make or break your business

Wrap-Up

  • Team presentations of their company performance
  • Review of lessons learned from all simulation rounds
  • Celebrating teams’ successes and realized profits
 
Price
AED 14,691
US$ 4,000
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Duration: 5 Days

Intakes: Every Month

Language: English

Who will Benefit:

All managers and business professionals who are involved in supporting the planning and strategy of their department or organization, as well as those who are involved in core business or support department management and supervisory roles.

Target Competencies

  • Strategic decision making
  • Financial analysis
  • Business forecasting
  • Sales and marketing skills
  • Critical thinking
  • Production and logistics management
  • Teamwork
  • Quality management