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Bryant Nielson - Transformative Corporate Training with Simulations

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Presenter: Bryant Nielson, Executive Director / Founder, CapitalWave Inc.

Gamification is not just entertainment, but a powerful corporate learning tool which can give a better understanding of complex financial concepts. By employing multiple platform interfaces, our use of simulations create engaging competitions that include design elements such as: multi-player games, team based cooperation, rule based mechanics, dynamic environments, and feedback that is motivational and instructional. Integration of theory based teaching with a highly correlated gaming environment allows the opportunity to test various strategic and behavioral applications of knowledge. The use of ‘simulation writers’ allows instructors flexibility in creating environments and outcomes that are aligned with the knowledge based content that they are delivering. Players approach each game with a case-based perspective. CapitalWave’s use of simulations create opportunities to test and engage both staff and clients. Our adoption of this powerful learning tool is a key differentiator of our firm and for our corporate training.

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Bryant Nielson - Transformative Corporate Training with Simulations

  1. 1. © 2015 CapitalWave, Inc. | All rights reserved. TECHNOLOGYENABLEDLEARNING® Transformative Corporate Training with Simulations
  2. 2. Page 1 © 2015 CapitalWave, Inc. | All rights reserved. Simulations & Technology
  3. 3. Page 2 © 2015 CapitalWave, Inc. | All rights reserved. Capital Markets • Equities • Fixed Income • Forex • Commodities • Derivatives Wealth Management • Portfolio Construction • Asset Allocation • Investment Strategies Operations • Trade Lifecycle • Corporate Actions • Trade Settlement
  4. 4. Page 3 © 2015 CapitalWave, Inc. | All rights reserved. Why use Simulations?1 Analytics and Metrics6 Blending into a Curriculum2 Progressive Educational Theory5 Use as a reinforcement to the Learning3 Points of Discussion
  5. 5. Page 4 © 2015 CapitalWave, Inc. | All rights reserved.
  6. 6. Page 5 © 2015 CapitalWave, Inc. | All rights reserved. Simulators
  7. 7. Page 6 © 2015 CapitalWave, Inc. | All rights reserved. 25% 65%
  8. 8. Page 7 © 2015 CapitalWave, Inc. | All rights reserved.
  9. 9. Page 8 © 2015 CapitalWave, Inc. | All rights reserved. Advantages for Delegate
  10. 10. Page 9 © 2015 CapitalWave, Inc. | All rights reserved. Advantages for Instructor
  11. 11. Page 10 © 2015 CapitalWave, Inc. | All rights reserved. Why use Simulations?1 Analytics and Metrics6 Blending into a Curriculum2 Progressive Educational Theory5 Use as a reinforcement to the Learning3 Points of Discussion
  12. 12. Page 11 © 2015 CapitalWave, Inc. | All rights reserved. Simulation Components Realistic Sense of Competition Combination of Learning & Dialogue Targeted & not Blanketed Network creation outside the Classroom
  13. 13. Page 12 © 2015 CapitalWave, Inc. | All rights reserved. • Learning Objectives • Defined Expectations • Content • Delivery Tools • Case-based Activities • Assessments • Interaction • Collaboration • Motivation & Engagement • Support • Analytics & Reporting Nuts and Bolds of Engagement
  14. 14. Page 13 © 2015 CapitalWave, Inc. | All rights reserved.
  15. 15. © 2015 CapitalWave, Inc. | All rights reserved. TECHNOLOGYENABLEDLEARNING® Technology as a Key Differentiator For Training • Flexible • Scalable • Reliable • Accountable • Responsive
  16. 16. Page 15 © 2015 CapitalWave, Inc. | All rights reserved. Why use Simulations? It’s time to move simulations from the cockpit and out of burning buildings – and into board rooms and training rooms in a multitude of businesses and organizations Aspect of Execution Learn new processes & strategies Team building aspect Helps in decision making
  17. 17. Page 16 © 2015 CapitalWave, Inc. | All rights reserved. Why use Simulations?1 Analytics and Metrics6 Blending into a Curriculum2 Progressive Educational Theory5 Use as a reinforcement to the Learning3 Points of Discussion
  18. 18. Page 17 © 2015 CapitalWave, Inc. | All rights reserved. Simulation benefits Benefit 2 Benefit 5 Learning through actions Benefit of consistent, constant & immediate feedback Developing Moderators or facilitators Learning through mistakes Enjoyable & Exciting Learning Experience “Capstone” for training or Certification programs  Participants are free to make mistakes, learn from them & apply learning before venturing out  Enjoyable application of knowledge helps in better retention among participants  Acting as the final step towards certification or training programs  Outcome in simulation comes through experience and not just reading, discussion & testing  Through constant feedback, participants can make corrections & move forward  Aids in developing capabilities & coverage of existing professional training staffs Benefit 4 Benefit 6 Benefit 1 Benefit 3
  19. 19. Page 18 © 2015 CapitalWave, Inc. | All rights reserved. Simulations in Learning Games & Live Interactions Simulation training is highly effective as it goes against the norm of isolating learners for a geographically dispersed target audience
  20. 20. Page 19 © 2015 CapitalWave, Inc. | All rights reserved. Simulations in Learning – Reinforce Learning 1 2 Simulation can be offered as a part of overall course Simulation can be offered to participants who are returning to the office after a classroom intervention Simulations to reinforce Learning The focus of using simulation in corporate training is to continue the knowledge process and to continue application of that knowledge
  21. 21. Page 20 © 2015 CapitalWave, Inc. | All rights reserved. Simulation Case Team A Team B  Each team begins to formulate their own strategies, choices & decisions while competing against each other when simulation cases are handed to them  The moderator can check in frequently to determine where the teams are and to coach virtually Simulations in Online Learning – Games & Live Interactions
  22. 22. Page 21 © 2015 CapitalWave, Inc. | All rights reserved. Simulation Components – Sense of Competition Simulation Case New thought patterns The idea behind the simulation is to open eyes and minds to doing things differently
  23. 23. Page 22 © 2015 CapitalWave, Inc. | All rights reserved. Simulation Components – Combination of Learning & Dialogue Organization’s Strategy & Culture Outcome Driven Simulation Simulation Outcome should be evaluated against The final result of the simulation should not be a checkmark for getting through it but to reinforce the Organization’s culture & values
  24. 24. Page 23 © 2015 CapitalWave, Inc. | All rights reserved. Simulation Components – Targeted but not Blanketed Recruitment & Selection Performance Appraisal Career Planning Training & Development Health & Safety Job Classification Competitive Analysis Site Review and Analysis Evaluate & Refine Performance Analytics Marketing Metrics Optimize site structure HRStrategies MarketingStrategies Simulation for HR executives should focus on helping personnel within the confines of HR law Simulation for Marketing executives should focus on creating revenue & customer relationships An effective Simulation loses essence when not used selectively and applied all across the board
  25. 25. Page 24 © 2015 CapitalWave, Inc. | All rights reserved. Why use Simulations?1 Analytics and Metrics6 Blending into a Curriculum2 Progressive Educational Theory5 Use as a reinforcement to the Learning3 Points of Discussion
  26. 26. Page 25 © 2015 CapitalWave, Inc. | All rights reserved. The Learning Pyramid – Current Learning
  27. 27. Page 26 © 2015 CapitalWave, Inc. | All rights reserved. Progressive Educational Theory
  28. 28. Page 27 © 2015 CapitalWave, Inc. | All rights reserved. Simulation Components – Network creation outside the Classroom SimulatedEnvironment(Classroom) Simulation Focus • Teamwork • Identifying strengths of team members • Application of learned concepts Real World Real World
  29. 29. Page 28 © 2015 CapitalWave, Inc. | All rights reserved.  Relationships  Learning organizations  Training integrated into everyday work activities
  30. 30. Page 29 © 2015 CapitalWave, Inc. | All rights reserved. Why use Simulations?1 Analytics and Metrics6 Blending into a Curriculum2 Progressive Educational Theory5 Use as a reinforcement to the Learning3 Points of Discussion
  31. 31. Page 30 © 2015 CapitalWave, Inc. | All rights reserved. Simulators
  32. 32. Page 31 © 2015 CapitalWave, Inc. | All rights reserved. Simulation Evaluation Delivery Method Preferred steps for Outcome If the simulation is a complex, computer- based operation, then the programming should also deliver an evaluation in an immediate context Preferred steps should coincide with applicable laws, natural phenomenon, organizational procedures, and even organizational culture Create a matrix or rubric that shows the criterion for the evaluation so that it is useful to both the moderator and the participants Consequences for wrong actions Matrix Creation Use of decision tree that maps out the right steps, the wrong steps, and the consequences. This help the participants learn and apply knowledge to the situation.
  33. 33. Page 32 © 2015 CapitalWave, Inc. | All rights reserved.
  34. 34. Page 33 © 2015 CapitalWave, Inc. | All rights reserved.
  35. 35. Page 34 © 2015 CapitalWave, Inc. | All rights reserved. The DARK SIDE of Simulations
  36. 36. Page 35 © 2015 CapitalWave, Inc. | All rights reserved. One size doesn’t fit all Traditional content isn’t always relevant for Simulations Changing role for L&D (content curators) Oversight still required An activity does not equal a simulations No “small-ball” thinking
  37. 37. Page 36 © 2015 CapitalWave, Inc. | All rights reserved. Simulations in Learning – Limitations No overuse of Technology • Entire programs should not be moved to simulation medium • Online simulation should be a reinforcement to classroom or seminar type training interventions Complex topics or issues to stay out of Online simulations • Leadership or cultural simulations may need to stay in the classroom or boardroom to encourage face to face interaction • Concepts that can be influenced through social media can move to the online environment
  38. 38. Page 37 © 2015 CapitalWave, Inc. | All rights reserved. Simulation Components - Realistic Current External Forces Current Internal Forces Decisions Be as realistic as possible in order to create the real world in a simulated and controlled environment
  39. 39. Page 38 © 2015 CapitalWave, Inc. | All rights reserved. Highly Competitive Job Market Questions?
  40. 40. Page 39 © 2015 CapitalWave, Inc. | All rights reserved. My Contact Information Bryant Nielson Executive Director bryant.nielson@capitalwave.com http://www.CapitalWave.com bryantnielson www.yourtrainingedge.com bryant.nielson
  41. 41. © 2015 CapitalWave, Inc. | All rights reserved. TECHNOLOGYENABLEDLEARNING® A Summary of our Simulations
  42. 42. Page 41 © 2015 CapitalWave, Inc. | All rights reserved. Capital Market Simulator - CapitalCMS
  43. 43. Page 42 © 2015 CapitalWave, Inc. | All rights reserved. Portfolio Market Simulator – CapitalPMS
  44. 44. Page 43 © 2015 CapitalWave, Inc. | All rights reserved. Fixed Income Trading Simulator – CapitalFITS
  45. 45. Page 44 © 2015 CapitalWave, Inc. | All rights reserved. Forex Trading Simulator – CapitalFTS
  46. 46. Page 45 © 2015 CapitalWave, Inc. | All rights reserved. Option Strategy Analyzer Simulation Tool
  47. 47. Page 46 © 2015 CapitalWave, Inc. | All rights reserved. Option Strategy Analyzer Simulation Tool
  48. 48. Page 47 © 2015 CapitalWave, Inc. | All rights reserved. Real News Trading Simulator – CapitalRNTS

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