Simulations are no longer just “training” tools but provide a key element in driving business success. It’s also the fastest method for breaking through the people and process issues that derail so many corporate initiatives. Advantage Thought Leader Partner BTS, shows that to get people to behave differently in ways that save money and increase revenue – and to accelerate the “time to value” of every learning initiative – it’s crucial to know where and how simulation will provide the greatest benefit.
Much has been written in the last few years about the billions of dollars that corporations are spending on enterprise-wide initiatives. Companies have implemented these costly new structures, processes, and systems in an effort to achieve a greater level of operational excellence. But data on the results of these initiatives is discouraging, to say the least. Examples:
- Of 280,000 IT projects tracked, only 78,000 were classified as successful in 2000 (Standish Group)
- A third of all leadership development processes are ineffective (Hewitt Associates)
- At least 50% of CRM projects have significant problems (crmguru.com)
- 55% of all CRM installations did not produce any results (Gartner, Inc.)
The initial benefits from cost-cutting measures are short-lived; pressure from investors and shareholders is intensifying to find ways to increase the likelihood of seeing measurable, long-term results.