Company: Advantexe Learning Solutions
Company Description: Advantexe helps organizations around the world to improve their business performance. We are an award-winning talent development organization that designs and delivers customized, learning solutions in Business Acumen, Business Leadership, and Strategic Business Selling. We utilize sophisticated business simulations as the catalyst for learning and performance improvement.
Nomination Category: Product & Service Categories - Education & Education Technology Solutions
Nomination Sub Category: Game-based Curriculum Solution
 Nomination Title: The Paws and Claws Business Simulation Challenge
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the the nominated new or new-version product or service, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:
Product launched May, 23 2023
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
Total 224 words used.
The annual ATD (Association for Talent Development) trade show and conference is a highly anticipated event for professionals in the training and development field. In addition to the diverse range of workshops and sessions, the expo floor is always one of the biggest highlights of the show for vendors to be able to effectively demonstrate the value of our products, especially coming off the pandemic.
As part of Advantexe’s presentation at our trade show booth to draw visitors and generate leads, we developed and hosted an engaging business simulation challenge for conference participants. The Advantexe Paws and Claws Simulation Challenge was a micro business simulation designed to be completed within 15 minutes. It allowed participants to experience the flexibility of our Advantexe’s business simulations while emphasizing the importance of developing business acumen skills.
In the simulation, participants assumed the role of CEO at Kingle Plush Toys. They were responsible for formulating a strategy and making day-to-day operational decisions to execute the strategy including pricing, infrastructure investment, supply chain management, and marketing approaches. Despite its size, the simulation incorporated Advantexe's proprietary systems dynamic business model, a mathematical framework based on historical business data. This model represented the interdependencies and feedback loops within a business, focusing on understanding cause-and-effect relationships and long-term business behaviors. This approach is the best way to learn and retain new skills.
- If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):
Total 250 words used.
The Advantexe Paws and Claws Simulation Challenge served as a valuable platform for participants to enhance their business acumen skills. It exposed them to various business scenarios, allowing them to analyze data, interpret market trends, and make informed decisions. By navigating challenges and experiencing the consequences of their choices, participants developed a deeper understanding of business dynamics of different organizational functions.
The booth promotion worked great to draw and generate traffic and leads. We had over 100 competitors participate in the simulated exercise over the three days of the expo. The simulation yielded interesting data from participants including the following outcomes:
- Strategy Chosen: 67% of players opted for an innovative strategy, emphasizing the development of unique and superior products or services. Many participants believed that innovation was a key focus at the ATD conference and wanted their company to reflect that.
- Revenue Increase: 70% of players managed to increase their revenue year over year.
- Expense Reduction: Only 12% of players successfully decreased their expenses, indicating the difficulty of achieving their strategies without increasing costs.
- Focus on R&D: 93% of players who chose an innovation strategy increased their research and development (R&D) costs.
- Bankruptcy: 5% of players bankrupted their company, with the largest loss amounting to nearly $5,000,000. One participant admitted lowering the price too much and failing to produce enough products, learning a valuable lesson in the process.
- Revenue vs. Profitability: The highest revenue increase was 35% year over year, but profitability significantly declined during the same period.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 118 words used.
The Advantexe Paws and Claws Simulation Challenge was an exceptional opportunity for talent development professionals to experience the power of simulation and see how this type of learning experience can enhance business acumen and decision-making skills. There was a strong recognition that things are not going to go back to the old style of standard classroom learning and that shorter, virtual, and experiential simulation-centric workshops are going to be the way of the future. Feedback from the simulation included:
- “This was so much fun, what a great exercise.”
- “I can’t wait to tell my boss about these simulations.”
- “I guess I am ready to be a CEO!”
Access to the simulation - https://forio.com/app/advantexe/kingle/
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