The Professionals Challenge
the business acumen simulation for professional services companies.
This business simulation provides business people with the opportunity to manage a complete, professional services company making decisions about resources, pricing, improving efficiency & effectiveness and professional skills development. Participants from firms of software designers, accountants, lawyers, consultants, engineers, architects etc. explore key strategic issues and aspects of running a professional services company, develop business acumen and knowledge of finance. The simulation is available on a fully tutored basis as a full day workshop.
As detailed later, the simulation covers the following key areas:
TARGET AUDIENCE: The simulation is designed for leaders of micro, small and medium sized service businesses, managers of larger companies and organisations like banks or business support organisations that must understand professional services businesses.
AVAILABILITY: This business simulation is only available on a fully tutored basis or run by your trainers after a train-the-trainer course.
METHOD: After a short briefing, the group is divided into teams of four or five participants. Each team becomes familiar with the company that they are to run and considers objectives and strategies. Participants then make decisions for a simulated quarter that they feed into a microcomputer that simulates the impact. The results are printed for the participants to analyse and reflected on before making their next decision. The services company is run for eight simulated quarters (two years trading) before the group reunites to discuss, compare results and justify their actions.
HARDWARE REQUIREMENTS: Ideally, a PC and printer for team or a PC and printer for each group of up to three teams.
The simulation uses an advanced simulator that supports tutoring, provides for ease of use and will run on all Windows operating systems from Windows 98 thorough Windows 8.
SERVICE BUSINESS APPRECIATION
The simulation involves running a complete services company selling to four diverse groups of clients:
Initially decisions cover the time to spend selling to existing clients, prospecting for new clients, deciding fees on a client group basis, operational improvement, business improvement and professional development. Later, marketing and business initiatives can be decided.
BUSINESS OBJECTIVES & MEASURES
During the simulation, participants will be concerned with creating a profitable, growing business that survives. They will develop an understanding of the business purpose, how their decisions influence this and how their objectives and measures interact.
The simulation introduces participants to financial fundamentals (Client Profitability, Profit and Loss Account, Balance Sheet, Cash Flow and Key Financial Ratios) and how managerial actions impact these.
The four client groups differ significantly in terms of needs, wants, revenue and profit potential.
BUSINESS MIX & CONTRIBUTION
The four client groups and their needs & wants means that the participants must decide the mix of business and how each contribute to profitability, growth and survival.
Participants must consider how clients perceive their business and how the clients respond to selling & prospecting time, quality etc. and how the impact on finance and operations.
FORECASTING & CONTROL
With decisions covering time management, participants must forecast operating needs taking into account the uncertainties of the impact of marketing decisions and client needs.
BUSINESS IMPROVEMENT POLICY & IMPACT
With decisions about operational improvement, business and professional development participants must balance the cost of these with the long-term benefits.
SHORT vs LONG-TERM BALANCE
Although the company is run on a quarter-by-quarter basis the participants must balance their short-term actions to maximise revenue and profits with their long-term need to develop an effective and efficient company that survives.
With participants working in small teams, they have the opportunity to share experience and knowledge, present and promote different viewpoints and develop their people skills.
Optionally, at the end of the simulation, teams can make a board presentation covering objectives, strategies, process, the future (of the simulated business) and learning.
This simulation is available for company training on a fully tutored basis or, after training by your staff on a per course rental basis. For you convenience you can pay in pounds sterling (£), US Dollars (£) or Euros.
|Train the Trainer Course||
|Post training rental/course.||
MANNER OF USE
The simulation can be used in several ways
The Participants' Manual that provides, for the participants. a description of the simulation, a description of their task and information about the business that they are to manage.
Briefing is a MS Power Point briefing explaining the simulation to the participants. (You may find it useful if you review this before reading the Participants' Manual.)
Most recent update: 12/09/13
Hall Marketing, Studio 11, Colman's Wharf, 45 Morris Road, London E14 6PA, ENGLAND
Phone +44 (0)20 7537 2982 E-mail firstname.lastname@example.org