Business Simulation Class for Global Family Managed Business (GFMB) Program – Batch 08, 1st Contact / Month
September 6, 2017
Simulation Lab - SP Jain School of Global Management, Dubai Campus
100+ Sons & daughters of family business owners largely from India, handful from Pakistan, 1 from Kenya (2 divisions / batches)
Jaishankar M. Talreja (Author of the Simulation & & Facilitator for the session)
While there is hardly any disagreement in the class when I make a case for ‘Mistake being the Best Teacher’, yet everyone admits that mistakes in real-life are time consuming, expensive, demoralising & unsafe . Imagine a pilot making mistakes on flight! So ‘Flight Simulators’ are used for training pilots because in a ‘simulation’ (imitation of a real-life system), mistakes are rapid, inexpensive, encouraging & safe!
Just like pilots, entrepreneurs too can learn on a Business Simulator especially if the simulation is based on a real-life case where the faculty has first-hand experience. So, instead of using an off-the-shelf simulation which the participants may or may not even relate to, I decided to build a simulation on the case of a family business I had consulted for around 3 years; leveraging on my earlier experience in building simulations on ‘Post Merger Integration’ with Tata Interactive Systems and on ‘Transforming Businesses’ for a leading executive coaching company. The GFMB Program Director, Prof. Parimal Merchant (a stalwart / authority in the FMB arena), who has always inspired me, had been pushing me to make simulations for some time in any case.
Global Family Managed Business,