Learning economics through experience
In the Financial Training Game (FTG), participants are called upon to simulate the main economic and financial scenarios affecting their business. The learning objectives are as follows:
- to understand and learn the most important drivers for managing a company and its business
- to verify the economic and financial impact deriving from the market, strategic choices, everyday decisions and extraordinary events outside the company
- to understand the company figures and financial statements
- to use traditional KPI to interpret economic and financial data
- to grasp and to handle the economic implications of everyday decisions (payment times, evaluation of existing and prospective clients, evaluation of new opportunities for obtaining resources, make or buy options, investments using the company’s own resources or external funding, other innovative forms of business modelling, etc.).
With the Financial Training Game methodology, learners are able to grasp the basics of economics through practical learning-by-doing and hands-on learning-by-touching strategies designed to simulate economic and financial scenarios.
The methodology is based on the use of objects that put the dynamics of the simulations into practice, rendering performance results immediately visible. This game-based method allows participants from outside the strictly financial sphere to pick up the basics faster than with more classic interactive methods.
Learners are divided into teams, and set the task of managing a business, creating all those situations typical of corporate economic and financial management, with the input of a range of variables and unexpected market scenarios that they must switch and adapt strategies to deal with.
At the end of each round, the teams draft the financial statements, highlighting the performance results achieved. The trainer comments on their work, analysing their results along with them, specifically focusing on the use of the proper economic and financial terminology.
This learning game was devised by Laura Coggiola, a trainer and chartered accountant with over 20 years of teaching experience in the field of economics and finance.
Praxi Play On! is a new, interactive, web-based game. Its aim is to offer a lean, experiential route to developing the analysis, planning and organisation skills necessary to complete the profile of anyone currently holding a Business Development position.
Today’s organisations are increasingly demanding a sharper business approach from their employees, who must be able to grasp opportunities offered and demonstrate plenty of creative spirit.
PRAXI has brought a fresh twist to the concept of “game” – the world’s most widespread and influential means of communication – by designing an interactive, web-based game able to teach learners how to set out and implement a business development plan in a competitive market.
Praxi Play On! is aimed at sales networks, area managers, sales managers, business developers and marketing managers.
The idea for the game was devised by PRAXI consultants from the Sales & Marketing area, while Praxi Information Technology took care of the technological aspects.
Motivation is one of the key factors in top performance. PRAXI’s MotivAction Lab programme is designed to help users motivate themselves and others, and to manage self-empowerment.
The programme is divided into three stages:
- motivAction Show: a brief edutainment introduction to the training, which applies the arts (cinema, photography, sculpture, music) to a learning experience that explores the emotional, relational and behavioural elements underlying motivation.
- an experiential classroom workshop in which learners examine their motivational profile and set out their personal motivation development plan in relation to the skills their role requires.
- team coaching to support and consolidate the motivation and empowerment programme, starting with an analysis of experience in implementing the development plan set out in the classroom.
The motivation model derives from the Self Determination Theory successfully applied up to now in professional sport, focused on the development of three individual skills: self-efficacy, autonomy and relationship building.
What is innovative about the PRAXI Self Determination Theory approach to training is the method used for actively managing self-motivation and for motivating co-workers. This is a step beyond its predecessors, mainly geared towards describing motivation.