Experiential Learning

using Business Simulations

Understanding Business Complexity
 How we Learn and How Much we Remember

2 I hear and I forget. I see and I remember. I do and I understand. - Confucius

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 What is Experiential Learning ?
• Experiential learning is the process of learning through participation,
and is more specifically defined as "learning through reflection on
doing“
• It’s individual learning process
• Should be self-initiative, an "intention to learn“
• Is concerned with more concrete issues [ learner & learning context ]

"The ability to learn faster than competitors may be the only true sustainable competitive
3 advantage." – Arie P. De Geus (c) Copyright: KnowledgeWorks
 What is Business Simulation ?
• A simulation is the imitation of a real-world process or system over
time.
• A business simulation is a powerful tool for organizational learning
and development.
• It provides an effective platform upon which you can align your
people on strategy, improve their business acumen, finance skills, and
ultimately improve your bottom line.

“The best way to put distance between you and the crowd is to do an outstanding job with information.
4 How you gather, manage, and use information will determine whether you win or lose.” – Bill Gates
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 Why Experiential Learning ?
Traditional Approach
 Case Studies [ business and marketing courses]
 Not very effective as it doesn’t map real life experience
Business Simulations
It’s a platform that provides users with the opportunity to embrace and
drive their own learning experiences all in a safe, risk free environment.
 Learn by doing
 Offer effective solutions to address this challenge

"Even if you're on the right track, you'll get run over if you just sit there." – Will Rogers
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 Why Experiential Learning is so effective

"The secret of getting ahead is getting started. The secret of getting started is breaking your complex, overwhelming tasks
into small manageable tasks, and then starting on the first one." – Mark Twain
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 What makes Experiential Learning stand out?
 Places learners in various market situations
 Help learn essential concepts
 Simulations allow them to study market and its players.
 Enable them to take strategic and operational actions.
 See results and take appropriate decisions.

"A company can outperform rivals only if it can establish a difference that it can preserve. Competitive strategy is about
being different, deliberately choosing a different set of activities to deliver a unique value mix." – Michael Porter
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 How Learning Happens

"Quality is remembered long after the price is forgotten." – Gucci Slogan

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 Framework - Experiential Learning

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 Benefits - Experiential Learning
 Enhanced teamwork
 Encourages competitive thinking
 Encourages analytical thinking
 Practiced decision-making
 On the job experience
 Increased Learning Retention
 Engages students on an emotional level
 Better Employability

"Price is what you pay. Value is what you get." – Warren Buffett
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 Incorporating Experiential Learning
into curriculum
 Suggested Duration
• 2-4 Days [ Difficulty : Low-Medium ] [ undergraduates / post-graduates [Year1] ]
• 2-4 Weeks [ Difficulty : Medium – Hard ] [ post-graduates [Year2] ]
 Activity : Simulation + Exercises
 Concept Sessions [ Map to Simulation Learning ]
 Team Presentations
 Board Presentations
 Result Debriefs

“The best way to put distance between you and the crowd is to do an outstanding job with information. How you gather,
11 manage, and use information will determine whether you win or lose.” – Bill Gates (c) Copyright: KnowledgeWorks
 Experiential Learning Objectives
( Students Perspective )
Examine the business from the top management viewpoint
Learn concepts from finance to make sound decisions
Understand financial statements to evaluate business performance
Dynamics of demand-supply and its impact on company finance
Understand key aspects of lean management (capacity, quality, supply chain,
etc)
Apply marketing principles through real-world scenarios
Analyze data from business perspective for better decision making

"The ability to learn faster than competitors may be the only true sustainable competitive advantage." – Arie P. De Geus
12 (c) Copyright: KnowledgeWorks
 Making Experiential Learning Work
 Assign pre-work before the workshop
 Map theory to simulations
 Align simulation with clearly defined objectives
 Students to role-play within their companies
 Peer Review

"Nobody wants to have inventory, but everybody wants a product there when they want it.”
13 – Joe Chernay, Vice-President of Manufacturing and Technology, Bayer Corporation
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 Case – Managing Digital Pens Company
Suited for MBA – 1st Year (Difficulty: Medium) : 2-3 days
Industry: Consumer Durable
Market Segment – Regions (North America, Asia and Latin America )
Market Segment – Customer (Architect, Designer and Corporate)
Decisions: ( 6-8 Quarters )

• Corporate – Roles and Responsibilities • Sales Forecasting

• HR – Recruitment (Sales / Customer
Support )
• HR – Training
• HR – Benefits / Compensation
• Market Segment – Region (Enter / Exit )
• Market Segment – Customer
• Pricing Decisions
• Advertising and Promotion
• Product & Service
• Research and Development
• Finance Decisions
• Production (In-house Vs Outsource)

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 Case – Managing Athlete Footwear Company
Suited for MBA – 2nd Year (Difficulty: High) : 2-4 Weeks
Industry: Footwear
Market Segment – Regions (North America, Asia-Pacific, Europe-Africa and Latin America )
Market Segment – Customers ( Wholesale, Internet and Mass Merchandiser)
Decisions: (8-10 Year)
• Corporate – Roles and Responsibilities • Marketing Decisions ( 4Ps )
• HR – Recruitment (Commercial Team ) • Currency Impact (Multi-Currency)
• HR – Training ( TQM ) • Export / Import Tariff Decisions
• HR – Benefits / Compensation • Logistics Decisions
• Market Segment – Region (Enter / Exit ) • Advertising and Promotion
• Production Forecasting (Celebrity)
• Inventory and Material Management • Corporate Social Responsibility &
• Finance Decisions Citizenship
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 Experiential Learning - Stages

Data Decision Market Results Debrief

Analysis and Simulation and
Strategy Concept Sessions

Each Team understands Teams develop short and
the Industry and analyze long-term development
strategies for their
complex financials companies and make
reports and marketing decisions by inserting
reports of its virtual data into simulation
software
company
Simulation Engine Analysis and Feedback on
replicates market Results. Drive Concepts
response to the decisions relevant to industry
made by each team which teams can
implement for future
periods.

"Marketing is not the art of finding clever ways to dispose of what you make.
16 It is the art of creating genuine customer value. – Philip Kotler (c) Copyright: KnowledgeWorks
 Why partner with us ..

We have delivered the simulation workshop for corporate and leading education
institutions with over 4000+ experiential learners getting benefitted from the
engagement.
Learners Profile : Function-Wise
• Sales & Marketing, Operations, HR, Finance, Engineering, Service and Others
Learner Profile : Industry-Wise
• Automobile, Education (MBA), Banking, Pharma, Manufacturing, Telecom, IT, Financial
Services to name a few.

17 "Price is what you pay. Value is what you get." – Warren Buffett (c) Copyright: KnowledgeWorks
 Recent engagement with leading ..
Business Management School in Bengaluru

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 Experiential Learning
using Business Simulation
Let's create an impact together
Do reach out to experience the learning.
We are happy to consult and engage.

Chinmaya S Patil
Mobile: 9886077575
Email: chinmaya@knowledgeworksindia.com

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THANK YOU
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