One of the world's largest automobile manufacturers needed to align its financial management teams around a major strategic change in direction.
How do you bring together 1,500 participants from all around the world to ramp up their business and financial acumen skills and help them understand the company’s strategic and tactical goals? You build a business simulation designed to closely mirror your real-world challenges, include decisions that require an “all hands on deck” mentality and let the competition begin!
OUR CLIENT’S ISSUE
A global leader in the automotive industry was facing numerous market challenges including pressure to shift toward electric vehicle production and a need for its leaders to better understand financial acumen concepts. Additionally, they hoped to create an experience for participants from around the world that increased their sense of connectedness – to the company and each other.
In developing participants’ business acumen skills, the objective was to help leaders understand how changes in day-to-day business decisions impacted the company’s financial standing, with a particular emphasis on Value Added.
A global competition using an automotive business simulation was developed that included 500 teams based all over the world. Working closely with subject matter experts to ensure the appropriate level of financial acumen training and to create challenges that would help participants draw conclusions they could apply to their actual roles, an experience deployed over a two-month period thoroughly engaged 1,500 leaders.
The resulting business simulation included a market situation, storyline and challenges that mirrored the company’s world. Lessons on financial concepts were embedded throughout with an opportunity to readily see applicability to participants’ real-life roles.
In addition to effective financial acumen training, an added bonus of the experience was the opportunity for participants to network with colleagues from around the world and for top-placing teams to gain exposure to top management as they took part in the final competition, in person. Participants ranked the event highly and noted that their personal learning goals were achieved.
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