Topaz Management Simulation is a Management Training Tool.
It utilizes a tried and tested management simulation software to provide a unique experience for the participants, allowing them to work as the management of a virtual company that operates in a competitive global market.
Topaz is available to be run as an online training or onsite or a combination of online and onsite, as required by a University or Corporate and provides flexibility in terms of the schedule, the number of participants and the duration of the program. Topaz can also be channeled to cater to specific objectives of an organization such as emphasizing communication or teamwork skills, reinforcing strategic thinking and analytical decision making
Topaz simulator was created by a group of lecturers from the Research Department of Strathclyde University in Scotland. The lecturers have remained in charge of developing the training since its inception and have updated and improved its algorithms to reflect current business practices and norms.
Topaz consists of an interactive business simulation where participants form teams and each team manages a virtual company with the objective to achieve the highest share price at the end of the simulation.
For detailed information please click here
University students and company staff members can participate. There is no restriction on the age or minimum qualification required.
Universities and Corporates can enroll into Topaz training by registering their interest with us through our website (link to Contact Us page). Any group of 24 or more can participate in the training and the training is usually commissioned by a corporate for its staff or by a university for its students.
For more information, you can contact us by Tel.: 04 391 0329 or send us an Email: [email protected]
Enhance cross functional understanding
Topaz training participants have the opportunity to make decisions for management positions other than those they are responsible for in real life. For example, a HR manager participating in the competition may be involved in marketing decisions for his/her virtual company. This helps staff members develop an understanding of the peculiarities, the priorities and the constraints of departments that they are not ordinarily aware of.
This cross functional understanding enables staff members to better co-operate with their colleagues in other departments benefiting the company in improved decision making, better teamwork and enhanced productivity.
Cost effective learning
Compared to other training formats, Topaz is not only interactive and provides fun learning experience but also as each team comprises 3 to 5 participants, it allows several staff members to benefit from the learning simultaneously, thus reducing the per person cost.
Invest in the future
Topaz training offers corporates the opportunity to identify and recognize the hidden talents and competencies of their promising staff and to develop career plans for them that take into account their peculiar talents.
Enhance social contacts within the company
In large companies often colleagues in one office are not aware of others working at a similar level within their and other departments. Topaz provides opportunity to the participants to work in a team and ideally teams should comprise staff from different disciplines. By working in a team drawn from different departments, staff get to know their colleagues better in their own company and often forge long lasting friendships.
The enhanced social contact within the staff members often helps develop informal structures within the company that facilitate internal communications and improve productivity.
Motivate and retain
Topaz with its innovative form of training not only helps staff see their own work in a different perspective, it also demonstrates to them the interest and investment of their employer, fostering a sense of belonging in the staff and helps contribute to staff motivation and retention.
Benchmark staff performance
The layout of the training provides excellent opportunity for companies to assess their staff’s performance while they compete with other teams undertaking the training.
As the tutors gain experience using the simulations they can use their own emphasis in the training options. Topaz is specifically designed to be a general-purpose business model of a small manufacturing company. It is specifically aimed at courses where the participating students are different for each Simulation so the students and not the tutor are new to the model. This offers tutors the significant advantage each time they make use of these models because they become familiar with the underlying behavior of the models without worrying about re-learning new models every year. Variations on a theme, however, are achieved by using different starting positions by selecting a different History Code when creating a new simulation.
Alternative learning platform
Topaz training helps develop broad based skills such as communication, time management, conflict resolution, what-if analysis and may be used by the faculty as a complementary tool to reinforce and enhance classroom learning.
Create an event that enables networking, sharing of knowledge and experiences
Topaz 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.
Easily adaptable to the specific objectives to be achieved, the number of participants and duration of program. This enables Topaz training to be carried over several weeks or months and can also be integrated into different University course works.
Use as performance assessment and development tool
Universities can use this training as an adjunct to strategy and management courses, to acquaint students with entrepreneurial decision making, as an opportunity to understand cross functional constraints or as a team building and leadership exercise.
Participants will be provided Company History, Simulator Manual and access to simulation website for uploading their decisions and for downloading their company results. Depending on the schedule agreed with the organization requesting the training, the participants may also be provided briefing and debriefing sessions. At the conclusion of the training, all participants are provided participation certificates. Additionally, the winning team gets direct entry to Round 2 of Global Management Challenge.
- Helps in reinforcing strategic, analytical, team work skills and knowledge.
- Allows working on behavioural skills such as decision making, time management and conflict resolution.
- Development of specific technical skills such as the use of mathematical or financial modelling for decision making.
- Team building by developing team spirit, in a relaxed environment. It also reinforces individual importance of each team member.
- Encourages creating a methodology based on practice and experience.
Topaz is available to be run online or onsite as required by an organization and provides flexibility in terms of the schedule, the number of participants and the duration of the program. The pricing varies according to the requirements of the customer. For more information or a detailed proposal please send us an Email: [email protected]com or call us on Tel: 04 391 0329
Topaz and Global Management Challenge both use the same unique business simulator that was designed and developed Strathclyde University, Scotland.