Factory – Fundamental principles of Business Management

Employees who think entrepreneurial and understand the financial relations within the company are the basis for long-term success.

The business simulations Factory™ clearly impart both to employees and executives in the production and industrial sectors cost-effectiveness and financial acumen in an integrated, well-planned manner, encouraging further developments in the fields of cost orientation, entrepreneurial thinking and negotiating besides presenting an in-depth knowledge of strategic decision making.

Content:

In groups of 3-4, participants are faced with the task to manage a company. This company, which has been very successful during recent years, is now under economic pressure. The management team are now challenged to lead this company back to success within 3 years.

The success of the company is demonstrated by the use of key performance indicators.

Over three game-periods, raw material has to be ordered, production orders have to be fulfilled, finished products have to be delivered according the customers orders, accounts receivables have to be collected, overhead costs as well as interest have to be paid and depreciation needs to be accounted for. At the end of each financial year participants create a P&L account and a balance sheet.

Being in the management seat, participants receive a different perspective on performance related issues which leads to an immediate understanding and acceptance of the commonly applied business practices and concepts.

Objectives:

• Clarify the connection between process optimization and business results
• Reinforcing entrepreneurial thinking of employees
• Communicate the significance of key performance indicators and financial reports like the P&L account and the balance-sheet

• Improve team-spirit and communication skills through the interaction during the business simulation

Target groups

• All managers and employees with an influence on business results
• Employees with no financial background
• Entrepreneurs

• Students attending courses in business administration, economics, technical majors and social sciences

Duration:

1 Day

Number of participants:

Max. 24 participants per trainer. Large group events with up to 500 participants have been organised

We can simulate your world:

BTI develops customised simulations to suit your special requirements.