FishBanks is a business simulation which has its roots in system dynamics, an analysis technique of patterns in complex dynamic systems.
The simulation teaches participants valuable lessons on renewable resource management which can be applied to a variety of topics in business strategy, decision-making processes, resource management, organizational development, negotiation and competitive intelligence.
- Helps participants understand the risk of focusing on lagging KPIs and ignoring key information about current issues;
- Develops team communication and emphasizes data-based decisions;
- Emphasizes the importance of understanding complex systems such as the markets on which organizations operate;
- Highlights the importance of a correct systemic approaches by showing how rational individual decisions can lead to irrational results for the systems in which individuals operate;
- Shows how marginal improvements are sometimes irrelevant if they appear too late and without taking into consideration other aspects.
1. Introducing FishBanks
- Defining the concept and its purpose;
- Setting the role of the team;
- Communicating success criteria;
- Providing financial information;
- Clarifying rules and handing out of materials;
- Explaining the steps of the simulation.
2. FishBanks simulation
- Team discussion on purchasing strategies and ship allotment;
- Bidding for ships;
- Buying and selling ships during the transaction sessions;
- Placing orders for building new ships;
- Making calculations and distributing the fleet;
- The end of the simulation and score calculation.
3. Applying the information acquired during the simulation within organizations
- Team and group discussion about the simulation experience;
- Exploring the strategy, the management resources and the implications of the decision-making process;
- Defining the dynamic system and the analysis technique;
- Discussing the simulation experience and results.
4. Ensuring the transfer of the acquired knowledge and competences into practice
- Transferring the lessons learned during the simulation within organizations;
- Overview and conclusions.
This business simulation is addressed to executives, operational managers and analysts from different industries and functional areas.
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