What is Topaz?

TOPAZ Management Simulation is a Management Training Tool

The Concept

TOPAZ is a simulator modeled on the business environment where participants, organized in teams, manage a company. The participating teams compete to achieve the best results for their company. Participants determine the strategies, establish interactions between the different functional company areas, take decisions and analyze the results, obtaining a practical insight about the key factors of success in a company.

Objective: To achieve the best results for your company

What does Topaz Management Simulation consist of?

MANAGING A VIRTUAL COMPANY

Analysing Company History.

Strategic Planning.

Making decisions in a highly competitive and constantly changing environment.

Analyzing results, updating strategy and decision.

Company Structure

Each team represents a Board that has to take decisions on the following areas:

Marketing

  • Pricing
  • Promotion
  • Selling

Production

  • Scheduling
  • Transport & Distribution
  • Raw Materials & Machines

Human Resources

  • Recruitment
  • Working Conditions
  • Wages

Finance

  • Dividends
  • Loans
  • Investments

Why should you Participate?

TOPAZ benefits for Participants

LEARNING BY DOING

The most important benefit of taking Topaz training is that it allows participants to “learn by doing”. In the real world “doing” or implementing your ideas successfully is all that counts. Topaz training provides that opportunity without the cost of making wrong decisions. And this is by far the best learning outcome that Topaz provides.

TEAMWORK

Topaz training provides opportunity to the participants to work in a team. Team building is an ongoing process that helps a work group evolve into a cohesive unit. The team members not only share expectations for accomplishing group tasks, but trust and support one another and respect one another’s individual differences.

DYNAMIC LEARNING – REVIEW & IMPROVE

Topaz simulation allows participants to test their theoretical learning of management principles in competitive real life like scenarios. Any mistakes made in the competition simply provide opportunities for learning, but do not result in expensive unintended consequences.

UNDERSTANDING FINANCIAL STATEMENTS

The emphasis on financial reporting provides an excellent opportunity for the participants to learn the meaning of and the relationships between the Income Statement, the Balance Sheet and the Cash Flow statement and what a manager should consider when analyzing company accounts.

FORECASTING

Topaz simulation provides a platform for realistic forecasting using the wide range of relevant data that is produced and enables the participants to hone their forecasting techniques.

TIME MANAGEMENT

Topaz training runs to a strict timetable and decisions cannot be processed until they have been submitted by all of the teams. Therefore timely submission is essential and makes time management a critical element in the event.

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