Objectives
Participants of the Way Forward will be able to:
- Extract critical information from standard financial and market reports.
- Identify critical drivers for success within a business.
- Create a strategy that is seen as consistent by the company’s stakeholders.
- Recognise the strategic implications of decisions.
How it works
The players, acting in teams of between 4-6 members, are the Board of Directors of a furniture wholesale company operating, in the UK, Eastern and Western Europe. In time periods representing a half year, they make a number of broad strategic decisions concerning the direction they wish the company to take and the image they want to adopt in the marketplace. Decisions include pricing policy, marketing effort, dividend policy, and special agenda items concerning business issues, ethical and moral dilemmas. The results of a team are affected by the quality of its own decision-making and also those of its competitors. This interaction mirrors the real world where a potentially ‘winning’ strategy may provide lower than expected benefits because of competitor activity.
What participants will be doing
In groups the participants will be analysing the current situation, reviewing the data provided to identify any possible changes in the market and assessing any potential risks or opportunities. The participants will create a strategy and implement it in a competitive marketplace. They will constantly need to review their results and re-assess the market situation and competitor actions.
Audience
The Way Forward simulation is designed for all those within an organisation who have some responsibility for making decisions which will impact on the credibility of the business in the eyes of key stakeholders and for ensuring long-term sustainability through the provision of sufficient profit.
Structure of the activity and time requirement
The simulation is split over between 3 and 5 periods. These periods can be run concurrently, as part of a course or conference, or split over a longer time period.
Each period will need between 60-90 minutes.
The cost
As a guideline, here are two different pricing options:
Face to face in-house event with facilitation from Elgood
We provide the simulation, all documentation and facilitation. A one-day event costs in the region of £1,300 plus VAT and expenses.
Please inquire about prices if you would like to split the rounds over several days or weeks.
In-house event using web-based software and remote facilitation by Elgood
This simulation can be run remotely with the players conducting their meetings and entering their decisions online. We provide access to an online portal for entry of the decisions and receipt of updated documents.
A remotely facilitated event with 4 rounds of play, with up to 6 teams participating, costs £350.00 plus VAT.
Please contact us for further information or download the Way Forward information sheet.
