24 May Business Simulation
Failure of new and existing South African businesses is a topic that has been discussed and debated for years. According to a study by The Small Enterprise Development Agency, a subsidiary of The Department of Trade and Industry, South Africa has one of the highest failure rates of new SMEs in the world, at an estimated 75%. How do we avoid business closure? Some enterprises turn to business simulation. In studio, the team speaks to Shawn Theunissen – head of property point and corporate social responsibility at Growthpoint properties, Belinda Mmeta, Funek Sukuzi, Anita Black – Pimp my Biz Contestant, Sazini Mojapelo - Head of Citizenship at Barclays Africa Group,.and Brian Simelane – business training expert and founder of LearningSims. They discuss how simulations can be a highly effective method to teach a variety of topics in business, improve retention, and ultimately change behaviour for improved results.