Surveying today’s business environment reveals several key facts:
Leadership Is Lifeblood. Great companies are driven by great leadership from the boardroom down to the front lines of the organization. General Electric’s success owes a lot to great leaders like Jack Welch, but significantly more of that success has to do with the GE leadership development engine.
Demographic Chasm Presents Great Risks. Businesses are facing a demographic time bomb—the retiring of baby boomers—that is beginning to affect the ranks of senior management at global corporations. New generations of leaders must be cultivated to replace retiring baby boomers.
Traditional Training Has Many Shortcomings. Many leadership development efforts fail. While there are myriad reasons for this, the format of the training that participants receive is most culpable. A recent study revealed that management learning programs that use simulations provide significantly improved leadership competencies compared to those that use traditional learning methods.
In this post, I’ll speak to how organizations can better use advances in simulation technology as part of their leadership development efforts.