Stress Testing (Wargaming): Strategy Execution
This is a highly interactive session, in which members get to learn about the benefits of the wargaming technique through participating in a live test of an issue, leading to successful business outcomes
Wargaming was developed by the military to evaluate plans before committing resources into action; it is a growth area across SMEs to large corporates and in a range of forms. It is the prime means of stress testing plans and strategies, to identify where risks lie, where contingency plans need to be considered, and where opportunities exist that hadn’t previously been considered. Many companies (SMEs in particular) tend to rely on gut instinct in terms of planning, with a brief nod towards market conditions and stakeholder behaviour. However, this only addresses the situation at the time of planning and fails to take future dynamics into account, which leads to waste of resource and ineffective performance. Wargaming rectifies this through simulating how conditions will develop over time, stakeholder interdependencies, their reactions and likely outcomes. It can be an integral part of a building a new strategy/plan or as a standalone tool to verify an existing plan. In addition, it is a crucial aid in bringing even the smallest of teams closer together and inspiring them to achieve breakthrough results. Wargaming is engaging, enjoyable, stimulating and involves a wide cross-section of the staff in the business, but for a very short period of time, preventing dips in productivity. This session includes a practical experience of a wargame, usually through testing a member’s plan or strategy and using the rest of the group as role players.
- To learn what wargaming is and the benefits it brings.
- To study different styles and delivery of wargames.
- To outline the process of a wargame in a business.
- Background: why wargaming is needed
- What it looks like
- Live wargame exercise (through testing a member’s plan/issue)
- How to implement a wargame, key steps and pitfalls; initiating one for your own business.