Launch of the Business Flight Simulator
29th February 2008
A major new breakthrough in business and financial training was presented at a meeting at the RSA in London today. The visual technology that powers aircraft flight simulators has now been applied to the world of business, making it possible for trainees to develop an immediate and intuitive understanding of financial cause and effect.
The Business Flight Simulator enables users to create a company from scratch and if it goes bankrupt, to learn from that mistake and start again - all within the space of 10 minutes. The simulator runs on the Internet and can be applied to retailing, manufacturing, banking, insurance, property and other business sectors. Both individual and multi-player versions are supported, enabling players to compete with each other internationally by gaining market share. The simulator emphasises the continuing difference between profit and cash flow, helping players to understand this crucial distinction from an intuitive standpoint.
The Business Flight Simulator has been developed by Metapraxis and is the subject of a current patent application. The website describing the project is at www.amplifying-intuition.com and during its launch phase the financial simulator, available at www.metapraxis.com/bfs and the accompanying Amplifying Intuition online booklet are provided for individual users free of charge. Participants are taken through incremental stages of sophistication in the business model and can view in animated form the immediate impact of the decisions that they make.
CIMA (Chartered Institute of Management Accountants) and the BCS (British Computer Society) will be participating in trials of the Business Flight Simulator in the coming months.
David Clarke, chief executive of the BCS said:
“One of the criticisms we hear is that IT professionals ‘don’t understand business.’ But IT is already at the heart of all important businesses and is becoming ever more crucial to the bottom line. As the membership organisation for more than 60,000 IT professionals, we are delighted to see the development of the Business Flight Simulator because it will cement their understanding of how business works and the language of commerce. Business is a serious game, but it doesn’t have to be boring.”
Charles Tilley, Chief Executive of CIMA commented:
“This is a very interesting project which I hope we can look to jointly develop to provide a useful training tool outlining the basics of accountancy and its relevance to business”
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Executive Chairman, Global Insurance Broker