Leadership Lessons from COVID-19: Building Future Ready Leaders

This article was originally published by the Indian School of Business here.
“In a volatile and dynamic world, be ready for change. Always look at it as an opportunity to learn rather than resisting it due to fear of failure.” - Jerry Connor, Global Practice Head, BTS.
COVID-19 has turned the world upside down and how! Globally, a majority of the workforce is working from home and that is the ‘new normal.’ According to a study [1] at the Stanford Institute for Economic Policy Research (SIEPR), in the United States alone, 42 percent workers are now working from home full time, accounting for more than two-thirds of economic activity.

Nearly four-in-ten people in the EU began working from home as a result of the COVID-19 pandemic, a new Eurofound Survey [2] has found.
Economies are rapidly changing. Markets are shifting by the hour. Majority of business houses are going through a massive downturn. At the same time, many business houses are making efforts to salvage the situation and are being diligent in rapid resource allocation. Consequently, business leaders and executives have been pushed into a dark arena they know little about. As leaders, however, they are expected to move ahead with the times and deal with the uncertainty to evaluate the situation, evolve with it and take decisions, putting aside their own fears.It is during these critical circumstances that they are required to come up with novel strategies. Business leaders and management practitioners can take this pandemic as an opportunity to develop new managerial skills and establish effective management practices for their peers to emulate or not do anything and await the waves that will be coming to pass.
One of the greatest challenges facing leaders is that most of them may have a limited understanding of how to deal with such a dire global economic crisis and have naturally been caught unawares. Leaders who can reorient themselves and their activities manage to deal with the hard times and navigate their companies through the disruption. In contrast, leaders who do not reinvent some of their time-tested leadership skills tend to become anxious and stay away from taking action and barely survive the crunch.
So how should leaders prepare themselves to face a crisis, manage through it and come out of it successfully? To find out, we spent the last couple of months talking to top Human Resource (HR) leaders in 40 of the world’s best companies. Primarily in Chief Talent Officer (CTO) or Chief Learning Officer (CLO) roles, these individuals provided fascinating insights into what organisations themselves are identifying as critical capabilities in dealing with the COVID crisis.
Based on our work with leaders across organisations over the years, some key attributes and skills that future leaders need to develop in themselves to sustain through any crisis include accepting change as is, being empathetic and thoughtful leaders and being able to foster a growth-oriented mindset besides developing mature leadership skills.
The McKinsey Global Institute workforce surveyed [3] 3,031 business leaders in Canada, France, Germany, Italy, Spain, the United Kingdom and the United States to understand the skills that would be most in-demand by 2030. They found that the demand for higher cognitive, technological, social and emotional skills will grow, while the need for physical, manual and basic cognitive skills will decline.From our recent studies of organisations during the pandemic, here are four key skills that leaders need to acquire to emerge out of a crisis successfully:
1. Seizing Momentum
One of the most common characteristics of leaders who struggle during crisis is an over-reliance on processes. During such extraordinary circumstances, leaders need to step out of the processes-based rigmarole and seize the opportunity to lead their teams. Leaders who cannot work around weekly meetings, annual budgeting, decision making processes and so on will find it difficult to carry on. Leaders who thrive in an unpredictable environment focus less on process and more on outcomes. Exceptional leaders listen and sense the moments that have the biggest impact. People need direction and that is where the role of a leader becomes crucial in making the right decisions in times like these. The same is true of change. For several years we have been talking about and equipping leaders to ‘manage change’. It has become a staple of leadership development to learn the ‘change curve’ and think about the leaders’ role in helping people let go of the old and embrace the new. The old view of change encompassed a beginning, a middle and an end. The unstated assumption was that there was a ‘new normal’ after the change. However, leaders are increasingly experiencing a world in which change is constant. The most responsive leaders, therefore, expect this and rather than starting with a mindset of ‘how do we get through this change’, they start with an expectation that change is constant and with change comes opportunity.
This means we need to accept that many of the models that we have relied on to understand change, such as the Kubler-Ross Change Curve [4] are not going to be of much help anymore.
2. Empathy
Empathy is one of the most significant skills that a leader should possess and is even more crucial in times of crisis. The outbreak of COVID-19 has set in motion a period of slow growth. Layoffs, delayed projects and cost cuts have become a global pattern. With remote working, the workforce is juggling multiple roles- that of parents to young children, caregivers to elderly at home and of community members supporting each other in rough times. The level of exhaustion is naturally much more as workers are constantly getting on and off virtual meetings. The fatigue of home and work melding together is slowly taking a toll. A survey [5] by Blind, an anonymous professional network with users from companies like Amazon, Facebook, Google and Bloomberg collected data from 12,737 responders about fears of being laid off, and beliefs about how long it will take for things to return to normal. 57% feared being laid off while 40.6% believed it will take six months to one year for life to go back to normal. Pre COVID, a similar survey [6] by Blind conducted in 2019 had 35.9 % responders expressing fears of being laid off.Another study by Blind captured emotional well-being due to social distancing in terms of loneliness, anxiety and productivity levels from 10,107 responses. 52.9% answered affirmative to increased loneliness during work from home while 56.4% reported experiencing increased feelings of anxiety during work from home.
Given this situation, only an empathetic leader will be able to handle team members with understanding and sensitivity. For working from home to be sustainable, leaders need to set the required boundaries such as communicating on a quick phone call instead of a videoconference, setting up office hours for specific groups, sharing tips on time management, and establishing that it is understandable if emails are not being answered after a certain hour.
Over the years, working with leaders at the helm, we have found that being an empathetic leader also gives one a chance to have a bigger sense of purpose. Let your workers voice their apprehensions. Keep in touch with colleagues and co-workers, check in on them often. Ask them if they are feeling overwhelmed at the end of the day or if they have too much to deal with. Commemorate little achievements of the team members to engender camaraderie and foster teamwork, despite being only virtually connected. Even 15-minute teleconferencing breaks or virtual water-cooler chats allow for vital, healthy informal connections.Not being able to foster connections in a non-traditional office set up is a struggle for many leaders. During one of the interviews, we found, “It may entail having to give up control and authority over the workforce”.
Technology plays a key role in our lives and so the human connection can still be encouraged over and above the usage of technology. It is not a hindrance in forging human bonds. Various social distancing norms in place have helped us realize that one does not always need to meet someone in person to communicate effectively. Active listening and open discussions that voice encouragement and reassurance can help build morale in the team.
3. Leadership maturity
To be a mature leader, one needs to build on an emotional development path from early on. Often, adults go through various maturity shifts - some in the way they see the world and can relate to others easily, while some still grapple with problems at hand not knowing which direction to head towards. Emotionally mature leaders embark upon a path of holistic development from early on. It is a path of simultaneous growth, where a leader continues to grow on their own, becomes a role model for others, and at the same time handles crises at work.
Leaders need to have that growth mindset, which is essentially about a willingness to make mistakes and learn from them. A true leader is one who not only notices when someone makes a mistake but is also there for them, asking all the right questions and discussing viable options to rectify the error in an attempt to develop better decision processes. Being empathetic towards others is a sign of emotional and leadership maturity. Leaders need not shy away from asking for help. It should be normalised for leaders in big institutional setups to seek help from their peers or teammates instead of being looked down upon as a feeble leader. Asking for advice does not make you weak or undermine your leadership.Most leaders operate in a success-driven paradigm. They are constantly under pressure to lead from the front and stay on top of things. At times, a leader cannot do all this without facing exhaustion and saturation. So, stop trying to be a leader all the time. Be a follower and let others take the lead sometimes. Try not to micromanage everything and do not always assert your superiority. One can be a leader and yet be vulnerable. A leader is allowed to break the mould and seek answers. Create space for others to solve problems at hand.
4. Purposeful Strategy
The year 2020 is a curveball stronger than anyone could have imagined. Nevertheless, a leader needs to be a North Star - leading the way in spite of adversities and is able to move towards a larger social purpose even in turbulent times. Many of the business houses we studied as part of the interview series were proud of how they had responded to the recent crises, both in looking after their people and in supporting the communities they serve. For example, an African agri-business described how its belief that purpose needs to come before profit had helped them through the crisis. Their operations had to be kept running and they were reliant on local communities and the communities were reliant on them. So the business quickly pivoted from making alcohol out of sugar cane to making hand sanitiser. Not only was this a profitable innovation but it also was a way to contribute to the health of the community in challenging times.
Effective leadership is being able to see connections and interdependencies. Being able to see the larger picture enables leaders to take sharp decisions with minimal repercussions.Post a crisis, leaders tend to look at it in two ways, either as a temporary disruption or a fundamental change to the way they thought and led. This frame of mind impacts the way leaders deal with the future. For example, leaders who struggled tended to think in terms of classic planning processes, taking current trends and projecting them forward to create a plan. But when the future has so many diverse and difficult possibilities, the accuracy of predictions is severely compromised. Consider this, the oil prices have fallen through the floor. As a CEO from a global energy company pointed out, “no-one in their wildest dreams could have predicted the drop off in demand for oil that we just experienced.”Successful leaders took a different approach. Instead of looking at current trends, they envisioned future scenarios and looked back. They looked for ‘weak’ signals in the market and imagined the different ways in which they would evolve. These leaders then adopted specific courses of action with these in mind, constantly adjusting their picture as new data emerged. For instance, retailers that used to do 25% online sales are now relying on e-commerce to drive their sales which account for almost 70 % of their total business.
Mounting work pressure coupled with a complete change in the workplace scenario has brought back the missing purpose to leadership while also appealing to the humanitarian side of leaders.
Final thoughts
In a volatile and dynamic world where things may get disruptive, it is vital to be ready for change. Always look at change as an opportunity to learn rather than resisting it due to fear of failure. As you grapple with the uncertainty, do not get stuck in linear thinking which can be constrictive, instead explore multiple ways of approaching the same problem.[1] Bloom, N.,2020. How working from home works out. Stanford Institue for Economic Policy Research.Policy Brief. Retrieved from https://siepr.stanford.edu/research/publications/how-working-home-works-out[2]https://ec.europa.eu/jrc/en/news/coronavirus-pandemic-reveals-large-differences-prevalence-telework-across-eu[3] Bughin, J., Subramaniam, A. & others, 2018.Skill Shift: Automation and the future of the Workforce. Discussion Paper. McKinsey Global Institute. Retrieved from https://www.mckinsey.com/featured-insights/future-of-work/skill-shift-automation-and-the-future-of-the-workforce[4] The 'change curve,' derived from the work of Kubler-Ross, describes the internal emotional journey that individuals typically experience when dealing with change and transition. This journey consists of several stages that people go through: shock and denial, anger, bargaining, depression, and acceptance.[5] Robinson, B. 2020. What Studies Reveal About Social Distancing And Remote Working During Coronavirus. Forbes. Retrieved from https://www.forbes.com/sites/bryanrobinson/2020/04/04/what-7-studies-show-about-social-distancing-and-remote-working-during-covid-19/#141fe0e6757e[6]https://www.teamblind.com/blog/index.php/2019/02/11/worried-about-layoffs-tech-employees-weigh-in-about-layoff-anxiety/
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Meetings are a universal ritual in organizational life. While managers on average spend more than half their working hours in meetings, many leaders can’t shake the feeling that meetings are falling short of their potential. Are they advancing the work, or quietly draining energy? At BTS, we study teams not as collections of individuals, but as living systems. This perspective reveals dynamics that traditional methods often overlook. Rather than aggregating individual 360° assessments, we assess the team as a whole to examine how the team functions collectively. Applying that lens to one of the most common team activities (meetings) uncovers patterns worth paying attention to. Drawing on thousands of team assessments in our database, we focused on two meeting behaviors:
- Do teams meet regularly?
- Do team members leave meetings with clear accountabilities and next steps?
Our question: How strongly do these behaviors relate to overall team effectiveness?
What the data revealed
Using data from 1,043 respondents (team members and informed stakeholders) we ran a Bayesian analysis to evaluate the predictive power of each behavior. The results were striking:
- Both behaviors were linked to higher team effectiveness.
- But one mattered far more: leaving meetings with clear accountabilities and next steps was 3.9x more predictive of team effectiveness than simply meeting regularly.
- And teams that often or always wrap up meetings with next steps rated 0.66 points higher on a 5-point scale of team effectiveness than teams who sometimes, rarely, or never close with accountabilities - that's almost a full standard deviation higher (0.96 sd)
Meetings aren’t the problem, muddy outcomes are.
Teams often default to frequency, setting cadences of check-ins or standing meetings. Our data suggest that what differentiates effective teams from the rest is not how many meetings they hold, but what comes out of them. A team that meets less often but ends each session with clear accountabilities will outperform a team that meets frequently but leaves outcomes ambiguous. In other words, meetings aren’t inherently wasted time; they become wasted time when they don’t translate into aligned action.
A simple shift that pays dividends
The good news: improving meetings doesn’t require radical redesign. Small changes reinforce accountability and dramatically increase the value extracted:
- Close with clarity. Reserve the last 5–10 minutes of every meeting to confirm: What decisions have been made? Who owns what? By when? This habit shifts meetings from “discussions” to “decisions.”
- Make commitments visible. Use a shared action log, team board, or project tracker so next steps are transparent, and progress is easy to follow. Visibility builds accountability.
- Assign a “Closer.” Rotating this role signals that closing well is everyone’s responsibility. The Closer ensures the team doesn’t drift into vague agreements, but leaves aligned and ready to act.
When teams adopt these habits, the difference is tangible: less rehashing of the same topics, faster progress on priorities, and a stronger sense of shared ownership. These small shifts compound quickly, making meetings not just more efficient, but more energizing and effective. In a world where teams face relentless demands and limited time, focusing on how meetings end may be one of the fastest ways to improve how teams perform.

Co-authored by Cilsy Harris, Senior Vice President, CIO Insurance & Service Applications, The Hanover Insurance Group
At one time, most of us probably thought that a year into the pandemic we’d be back in the office and the virtual solution we employed as an emergency measure would be a thing of the past. However, it’s become very clear that virtual is here to stay – either as companies adopt fully-remote business models, or as is likely to be the case more often, they move to hybrid models that blend the best of remote and in-person work. Regardless of which model they choose we think smart companies will preserve the best aspects of the virtual experience to continue to create equality in communication and facilitate greater sharing of ideas.
This virtual environment has been a great equalizer. In many ways, our ability to meet and work virtually has helped us eliminate pretenses and share our authenticity to create more human connection. We’ve become less self-conscious and more down to earth in our business interactions. We’ve learned more about our colleagues’ personal lives, enabling us to recognize and truly treat each other as humans, not simply as the means by which work gets accomplished.
Creating big wins for important business goals
This new environment has created six big wins for achieving important business goals:
1. Driving engagement/connection:
Authentic connection is the secret sauce for senior executives. It’s what drives trust, engagement, and execution. Our research shows authentic leaders build trust and put others at ease by sharing their own emotions and experiences, and by revealing stories and life lessons that resonate with others’ own situations.
A byproduct of the virtual world is that some of the barriers to sharing have been removed. The close-up camera creates eye-to-eye contact and a more personal interaction. Our insight into each other’s daily lives outside the office through the view of the camera has changed the tone and ease of our connection.
Virtual meetings also foster authentic connections across geographically dispersed teams in the organization in more efficient and meaningful ways. Regularly scheduled meetings with teams in Europe, Middle East and Asia/Pacific in the morning and those in the Americas in the afternoon, create cross-pollination of ideas and connections that previously would have required weeks of travel.
2. Enabling collaboration among large groups, across geographies:
Dick Lavey, executive vice president of Agency Markets at The Hanover, relays how forums are being reinvented. “Picture a traditional sales planning meeting, held in a large, cavernous hotel room with 40+ people spread out in a big square, using microphones,” he says.
“It was intimidating for the presenter and difficult for the audience to track the dialogue. Now, this same meeting is transformed into an intimate and engaging experience for both the presenters and the meeting participants.”
Well-facilitated meetings create forums for dialogue that lead to better outcomes. The outcome of this shift is understanding that for certain events and forums, choosing a virtual model can create greater intimacy and engagement. Choosing the right forum for the purpose is our call to action.
The virtual world has delivered the impetus to rethink and reimagine how we design forums to optimize attendance and participation, and to offset some of the challenges presented by geographic location. “Events that once were considered feasible only when they were held in person, like our annual Innovation Expo, saw big gains in attendance across all geographies,” according to Will Lee, EVP and Chief Information and Innovation Officer at The Hanover.
“It also has enabled all attending Hanover employees to experience the event in the same manner, regardless of location. One of the most significant outcomes of this new approach was creating a live example of how we can design environments to make space for innovative thinking that cut across the entire organization and include all roles and levels.”
We are also able to meet with more people, more quickly. At the Hanover, our agent road shows, no longer limited by time and space, can be held on back-to-back days–in Georgia one day, Upstate NY the next, and Washington State the very next day. This meeting line-up would have been impossible in person. “We ‘cover more ground’ by not covering any ground,” says Lavey.
At BTS, we’re hosting highly collaborative senior executive team meetings and leadership development programs that enable leaders to create greater impact. After only a few half days, global executive teams decide strategic direction, tackle sticky issues, form agreement on how to better work together, make important decisions, and create strategic action plans–launching the organization on a new trajectory.
3. Attracting talent:
For Lee, finding great talent has gotten a real boost with hybrid operating models, and at The Hanover, we are seeing this have a meaningful impact. As we’ve eliminated geography as a defining factor for those hard-to-find roles in security, innovation, and even executive leadership, we’ve become an attractive employer to a much larger pool of talented candidates. Candidates are now able to choose roles based on company culture and specific opportunities, without being restricted by the proximity of the job to their homes.
4. Retaining top talent:
A client recently told me that he lost a great employee because this person was assured a role with another company in a work-from-home arrangement. Top employees have demonstrated great commitment to their work, high productivity and skillful leadership while enjoying the greater work/life balance that work-from-home enables. This has become quite important to many people of all ages, especially working parents, employees who care for elderly parents, and those helping family members with physical and mental health issues. Remote work is an increasingly valuable way to attract and retain great talent.
5. Creating efficiencies:
Even reimagining how products are launched has delivered more tangible benefits than we previously thought possible. At The Hanover, our virtual launch events have attracted much higher attendance and generated strong satisfaction ratings. At BTS, we’re able to help more clients in a single day and our clients appreciate spending less time traveling.
6. Improving interactions:
Lastly, the equalizing effect has improved many daily interactions as well.
- We’re all the same on video, take up the same space, and our stature at the table is the same. No one is at the head and no one has a second-row seat.
- Rather than having some in the room and some on video, we’re all in the same room, and we’re able to meet with our global teams, on equal footing, at any time.
- Those with differing communication and work styles, such as introverts and extroverts, find the capabilities of collaboration technology suit their ability to participate either by chat, raising their hand, or amplifying the comments of another person. Everyone can contribute and be heard.
As many companies transition to their future work models—whether they are fully-remote or hybrid—the virtual experience and confidence we have gained over the course of the pandemic will help us be even more efficient and effective.Many employees are anxious to get back to the workplaces that are the backbones of our society. We look forward to seeing faces and having meaningful in-person interactions. And, we have the opportunity to make this transition in a thoughtful way, to leverage all we’ve learned about authenticity, efficiencies, and connection through technology.
Tips for maintaining the equalizing benefits of virtual work
Here are a few tips to pull through some of the equalizing benefits as we make our way back to the office:
1. Be mindful and intentional about continuing to connect with people on a personal level.
Schedule time regularly in your calendar to get together with a small group for lunch, organize a skip-level group for coffee, or host an informal, or one-on-one conversation. Set no real agenda other than to see how people are doing, get their feedback, listen to what they are working on. Be sure to share personal stories and experiences as part of this two-way interaction.
2. Commit to creating an environment in your meetings where everyone can contribute and be heard.
Assign an individual in your team meetings, on a rotating basis, to play the role of monitor, to encourage the quiet or remote individuals to participate more, and to reign in the overly strong voices. Make a point of sitting in a different place each time to shake up the room. Set up a team chat channel for each of your regular meetings and encourage follow up comments and conversation in between meetings, for those less comfortable sharing in the room. Participate regularly yourself to model the behavior.
3. Don’t be afraid to keep the new virtual paradigm where it makes sense.
The lessons about productivity and efficiency, whether you are hosting a virtually based product launch, sales meeting, or training program, should inform how to choose the format. And fewer, shorter, more effective meetings will energize people and afford them more time to get more done.Now is the time to preserve the good that has come out of our virtual working environments, even as we migrate back to the traditional office. We will all be more engaged and connected as a result.

Under pressure to perform, how can leaders help their teams be successful even in unfavorable conditions?
Taking a coaching and mentoring approach is one way to ensure success. In almost every coaching conversation this year, leaders have shared the pressure they feel to deliver big results despite the reality of current economic headwinds and uncertainty in the business world.In one conversation, a leader described his experience:
“Given that people are feeling anxious about the economy, our senior leaders have set impossibly ambitious goals for 2023.”
He asked,
“What am I supposed to do? Tell my team that they can hit those goals—when I don’t believe it myself?”
This leaders’ reality is not unusual. Leaders are under more pressure than ever to hit their numbers and deliver shareholder value, even when it doesn’t seem realistic. So what can you do? In the case of this leader, he was deeply passionate about mentoring and coaching people of all ages – in fact, his favorite thing to do outside of work was coaching youth basketball.
I asked him:
“As a basketball coach, I imagine your team faces situations that feel like impossible odds. What do you do in that situation? Do you shrug your shoulders and tell the team they had better face the fact that they’re about to get their butts kicked?”
At first, he laughed but thought it over and responded:
“I tell the team, ‘Don’t look at the scoreboard; don’t look at the clock. Let’s just focus on doing the next thing right. Let’s go for a small win—make a great pass, go for a steal—and build on that.’”
While it may not be a great pass or a steal, when you’re faced with what feels like impossible conditions, look for the small wins. Then, chart a path forward with steps that the team can take over the next couple of weeks to head in the right direction. As you look to inspire others to get through a year of economic uncertainty, it can be tempting to raise the bar in the hope that people will rise to the occasion. Instead, try focusing on the everyday behaviors that lead to small wins. As these wins pile up, they create confidence, momentum, and progress.
By keeping everyone’s focus on small steps in the right direction, they might surprise themselves by ending up on a summit at the end of a rocky 2023.
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This article was originally publish on Rotman Management
IN OUR CONSULTING WORK with teams at all levels—especially senior leadership—my colleagues and I have noticed teams grappling with an insidious challenge: a lack of effective prioritization. When everything is labeled a priority, nothing truly is. Employees feel crushed under the weight of competing demands and the relentless urgency to deliver on multiple fronts. Requests for prioritization stem from both a lack of focused direction and the challenge of efficiently fulfilling an overwhelming volume of work. Over time, this creates a toxic cycle of burnout, inefficiency and dissatisfaction.
The instinctive response to this issue is to streamline, reduce the number of initiatives, and focus. While this is a step in the right direction, it doesn’t fully address the problem. Prioritization isn’t just about whittling down a to-do list or ranking activities by importance and urgency on an Eisenhower Decision Matrix; it also requires reshaping how we approach work more productively.
In our work, we have found that three critical factors lie at the heart of solving prioritization challenges: tasks, tracking and trust. Addressing these dimensions holistically can start to address the root causes of feeling overwhelmed and lay the foundation for sustainable productivity. Let’s take a closer look at each.

You’re buckling in for an overseas flight in a brand-new Boeing 777. The pilot comes on the PA: “Ah, ladies and gentlemen, our flight time today will be six and a half hours at a cruising altitude of 33,000 feet. And I should mention that this is the first time I have ever flown a 777. Wish me luck.”
Before setting foot in the real world, pilots, military personnel and disaster response teams use intense simulations to learn how to respond to high-intensity challenges.Why should we place corporate leaders and their teams in situations without first giving them a chance to try things out? The risks are huge — new strategy investments can run into the hundreds of millions of dollars. BTS offers a better way to turn strategy into action: customized business simulations.
‘Now I Know What it’s Like to be CEO’
A customized business simulation of your enterprise, business unit or process, using real-world competitive dynamics, places leaders in a context where they step out of their normal day-to-day roles and gain exposure to the big picture. Participants make decisions in a risk-free environment, allowing them to experience critical interdependencies, execution best practices and the levers they can use to optimize their company’s key performance indicators. It takes the concept of a strategy and makes it personal, giving each individual the chance to see the direct impacts of their actions and the role they play in strategy execution.
Leading corporations are increasingly turning to business simulations to help build strategic alignment and execution capability when faced with the following business challenges:
- Key performance objective and new strategy implementation.
- Accelerating strategy execution and innovation.
- Improving business acumen and financial decision making.
- Transforming sales programs into business results accelerators.
- Leadership development focused on front-line execution.
- Implementing culture change as tied to strategy alignment.
- Modeling complex value chains for collaborative cost elimination.
- Merger integration.
Within minutes of being placed in a business simulation, users are grappling with issues and decisions that they must make — now. A year gets compressed into a day or less. Competition among teams spurs engagement, invention and discovery.
The Business Simulation Continuum: Customize to Fit Your Needs
Simulations have a broad range of applications, from building deep strategic alignment to developing execution capability. The more customized the simulation, the more experience participants can bring back to the job in execution and results. Think about it: why design a learning experience around generic competency models or broad definitions of success when the point is to improve within your business context? When you instead simulate what “great” looks like for your organization, you exponentially increase the efficacy of your program.
10 Elements of Highly Effective Business Simulations
With 30 years of experience building and implementing highly customized simulations for Fortune 500 companies, BTS has developed the 10 critical elements of an effective business simulation:
- Highly realistic with points of realism targeted to drive experiential learning.
- Dynamically competitive with decisions and results impacted by peers’ decisions in an intense, yet fun, environment.
- Illustrative, not prescriptive or deterministic, with a focus on new ways of thinking.
- Catalyzes discussion of critical issues with learning coming from discussion within teams and among individuals.
- Business-relevant feedback, a mechanism to relate the simulation experience directly back to the company’s business and key strategic priorities.
- Delivered with excellence : High levels of quality and inclusion of such design elements as group discussion, humor, coaching and competition that make the experience highly interactive, intriguing, emotional, fun, and satisfying.
- User driven: Progress through the business simulation experience is controlled by participants and accommodates a variety of learning and work styles.
- Designed for a specific target audience, level and business need.
- Outcome focused , so that changes in mindset lead to concrete actions.
- Enables and builds community: Interpersonal networks are created and extended through chat rooms, threaded discussions and issue-focused e-mail groups; participants support and share with peers.
Better Results, Faster
Well-designed business simulations are proven to significantly accelerate the time to value of corporate initiatives. A new strategy can be delivered to a global workforce and execution capability can be developed quickly, consistently and cost-effectively. It’s made personal, so that back on the job, participants own the new strategy and share their enthusiasm and commitment. This in turn yields tangible results; according to a research report conducted by the Economist Intelligence Unit and sponsored by BTS, titled “Mindsets: Gaining Buy-In to Strategy,” the majority of firms struggle to achieve buy-in to strategy, but those that personalize strategy throughout their organization significantly outperform their peers in terms of profitability, revenue growth and market share.
Business Simulations: Even More Powerful in Combination
Comprehensive deployment of business simulation and experiential learning programs combines live and online experiences. The deepest alignment, mindset shift and capability building takes place over time through a series of well-designed activities. Maximize impact by linking engagement and skill building to organizational objectives and by involving leadership throughout the process.
Putting Business Simulations to Work
Simulations drive strategic alignment, sales force transformation, and business acumen, financial acumen and leadership development, among other areas. A successful experiential learning program cements strategic alignment and builds execution capability across the entire organization, turning strategy into action. Results can be measured in team effectiveness, company alignment, revenue growth and share price.
Learn more about business simulations
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I recently read an HBR article discussing why the traditional approach to leadership development doesn’t always work.
It stated that instead of traditional methods, the best way to identify, grow and retain leaders to meet today’s demands is to “Let them innovate, let them improvise and let them actually lead.”
Over the past 30 years, as we’ve partnered with clients facing a vast range of challenges, we’ve seen the truth behind this – that people learn best by actually doing. That’s why business simulations are such a powerful tool: they allow people to do and lead within a risk-free environment, and condense years of on-the-job learning experience into a few days, or even hours.
We also know that learning is not just a “one and done” situation – it is a continuous experience. In many cases, a learning journey, which blends a variety of learning methodologies and tools over time, is the most powerful means of shifting mindsets, building capabilities and driving sustained, effective results.What a learning journey looks like depends entirely on the context of your organization. What challenges are you addressing? What results are you driving for? What does great leadership look like for your organization?

To bring this to life, imagine the following approach to a blended learning journey for aligning and developing leaders – in this scenario, within a financial services firm: Financial technology has “transformed the way money is managed. It affects almost every financial activity, from banking to payments to wealth management. Startups are re-imagining financial services processes, while incumbent financial services firms are following suit with new products of their own.”
For a leading financial services company, this disruption has led to a massive technology transformation. With tens of thousands of employees in the current technology and operations group, the company will be making massive reductions to headcount over the next five years as a result of automation, robotics and other technology advances.
This personnel reduction and increased use of technology is both a massive shift for the business as well as a huge change in the scope of responsibility that the remaining leaders are being asked to take on moving forward. As such, the CEO of the business unit recognizes the need to align 175 senior leaders in the unit to the strategy and the future direction of the business, and give them the capabilities that they need to effectively execute moving forward.
To achieve these goals, BTS would build an innovative design for this initiative: a six-month blended experience, incorporating in-person events, individual and cohort-based coaching sessions, virtual assessments and more. Throughout the journey, data would be captured and analyzed to provide top leadership with information about the participants’ progress – and skill gaps – on both an individual and cohort level, thus setting up future development initiatives for optimal success.
The journey would begin with a two-day live conference event for the 175 person target audience, incorporating leader-led presentations about the strategy. The event would not just be talking heads and PowerPoint slides, but rather would leverage the BTS Pulse digital event technology to increase engagement and create a two-way, interactive dialogue that captures the participants’ ideas and suggestions. Participants also would use the technology to experience a moments-based leadership simulation that develops critical communications, innovation and change leadership capabilities, among other skills.
romAfter the event, participants would return to the job to apply their new learnings. On the job, each participant would continue their journey with four one-on-one performance coaching sessions, in addition to a series of peer coaching sessions shared with four to five colleagues. They also would use 60-90 minute virtual Practice with an Expert sessions to develop specific skill areas in short learning bursts, and then practice those skills with a live virtual coach. Throughout the journey, participants would access online, self-paced modules that contain “go-do activities” to reinforce and encourage application of the innovation leadership and other skills learned during the program.
As a capstone, six months after the journey has begun, every participant would go through a live, virtual assessment conducted via the BTS Pulse platform. In three to four hours, these virtual assessments allow live assessors to evaluate each leader’s learnings from the overall journey and identify any remaining skill gaps. The individual and cohort assessment data would then lead to and govern the design of future learning interventions that would continue to ensure the leaders are capable of implementing the strategy.
As you can see, this journey design leverages a range of tools and learning methodologies to create a holistic, impactful solution. It’s not just a standalone event – each step of the journey ties into the one before, and the data gathered throughout can be used well into the future in order to shape the next initiative .
Great journeys or experiences like this can take many forms. In addition to live classroom and virtual experiences, there is an ecosystem of activities, such as performance coaching, peer coaching, practice with an expert, go-dos, self-paced learning modules, and more, that truly engage leaders and ensure that the learnings are being reinforced, built upon, practiced and implemented back on the job. We find that these types of experience rarely look the same for every client. There are many factors that determine which configuration and progression will make the most sense. There is one common theme that we have found throughout these highly contextual experiences, however – that the participant feedback is outstanding and the business impact is profound.