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eMDP – Simulation Based Business Strategy & Decision Making Workshop

27 Jan 2022

Online

Contact Details

Ravi Jangra, Deputy Director
M - 9811811231, E- rjangra@aima.in

About Workshop

The concept stands for 'Learning by Doing', a pure experiential mode. Like a flight or plant simulator, a participant here is better geared up towards making smarter decisions under stressful circumstances, managing time and resources. Participants adopt entrepreneurial approach that hones visioning, functional coordination and strategic thinking to implement/revise course of action and experience a transition from a functional leader to a strategy specialist at all levels.

 

AIMA BizLab recreates real life steel business environment in a virtual game. Participants are put in charge of companies, which compete against each other in a series of simulated rounds. The idea is to make them realize critical business issues across functional spectrum of business and find solutions to these problems.

Benefits of Using a Simulation

The simulation based pedagogy has immense benefits over traditional approaches:-

  • Maximum Engagement: Employees are far more involved in a simulation as compared to video lectures and online presentations. Therefore the retention levels of a simulation program are very high.
  • Holistic Perspective: Not only does this help the employee to develop his/her concepts relating to these individual departments, it also helps in providing an integrated perspective of business.
  • Platform to Experiment: The risk attached to a decision going wrong in real life is huge, therefore managers have limited scope to experiment. Simulation provides a risk free environment wherein they may try out different strategies and see which is most likely to succeed.

Target Audience

The workshop is aimed across all levels of management. It is most suitable for people who are either in decision making roles or are identified by the organization to be in that position in the coming 2-3 years.

Business Simulation

Business simulation is a technique for developing, testing, and evaluating business strategies in a virtual environment. With the latest computer technology, state of-the-art business simulations can manage hundreds of variables simultaneously and provide tremendous realism. It will provide the attendees a realistic and enjoyable learning experience and benefit with understanding the cross-functional relationships among various management functions, honing operative and strategic decision-making skills under constraints of time, finances and information.

Understanding the financial implications of the decisions taken, and the importance of team work under trying business situations and above all gets a synoptic view of a company's operations and experience the thrill of running a company in a competitive environment, developing business acumen through business simulation.

Key Learnings / Knowledge Components

  • Developing Strategic Business decision making skills
  • Understanding the impact of decision making on financial statements
  • Understanding working relationship of various management functions
  • Understanding of the wider strategic picture of business.
  • Sharpening analytical ability of business data for better decision making
  • Customer Centricity
  • Financial Planning and projections
  • Product costing and selling price
  • Marketing mix and demand impact
  • Understanding Competitive Dynamics
  • Strategic Alignment
  • Product mix and profit maximization
  • Business Strategy – Low Cost and product differentiation
  • Marketing distribution Channel selection

Programme Schedule

Program Duration: One Day

Session 1 (1.5 hours)
1. Business Simulation and its takeaways
2. Introduction of AIMABizlab case study
3. Market Segmentation & Marketing distribution Channels
4. Walk through of AIMABizlab Portal
5. Understanding analysis reports and decision making parameters

Session 2 (1.5 hours)
1. Discussion on Trial round challenges
2. Trial round decision making projections and submission
3. Analysis of Trial round strategy and competition
4. Market segmentation & customer behavior

Session 3 (1.5 hours)
1. Discussion on challenges in quarter 1
2. Projections of Quarter 1 decisions & submission
3. Q1 result analysis & discussion
4. Q2 challenges and issues
5. Strategic alignment & customer centricity

Session 4 (1.5 hours)
1. Quarter 3 issues and challenges
2. Launching of new product line
3. Q3 decisions projections & submission
4. Quarter 4 issues and challenges
5. Q4 projections and submission & Final debriefing

Mode of Administration

Mode of Administration

The simulation training would be conducted over rounds of simulations shall be executed. After every round of simulation, a debrief session shall be conducted where-in important concepts shall be discussed and results of the participants shall be reviewed. The program can accommodate a maximum of 30 participants.

Requirements for Workshop

  • Laptops/ Desktops with Internet connection enabled
  • Zoom Access

Registration Process

Participant(s) from different functional areas can be nominated by the Corporate and Institutional. Multiple nomination can also be nominated.

Program Fees

No. of DelegateAIMA/LMA MEMBERS
(Per Participant)
NON-MEMBERS
(Per Participant)
Overseas Companies /
(Participant
1 Delegate INR 11,000 INR 12,000 USD 250
2 - 5 Delegates INR 9,000 INR 10,000 USD 200
6 Delegates & Above INR 7,000 INR 8,000 USD 150

GSTIN No. - 07AAATA1644A1ZH      PAN No. - AAATA 1644 A
- 18% GST will be charged extra
- The program would be conducted digitally on a secured platform meeting the security measures as suggested by CERT-INand MHA Advisories
- Registrations are confirmed upon receipt of payment only
- Log-in details for joining the program will be shared with the participant(s) only after the receipt of the participation fee

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