• Archives
• Text

July 28, 2009

Power to Your People, Right On

By Raymond Green

Thinking Big

To be successful, CEOs must be able to “helicopter” above day-to-day issues and see the big picture. They must understand how the pieces of the business fit together to impact profitability and cash flow, and they must be able to assess the risks and rewards of potential decisions. The best business drivers study the numbers, ask themselves tough questions, analyze their mistakes, and take decisive action.

When managers and employees begin thinking like CEOs, they, too, look at the big picture, try to understand how all the pieces fit together, and assess risks and rewards. They figure out how the company makes money, how it stays in business, and how they contribute to its success. The benefits to an organization of engaging managers and employees in this kind of “big-picture” thinking are obvious. So how can a company develop the business acumen of its people?

How Xcel Energy Did It

The question on the minds of Xcel Energy’s executives was not whether understanding business acumen and financial literacy would effectively involve employees in the success of the company—they immediately recognized that employees with the ability to understand financial information and the proper background to act upon it can help build a stronger company. Instead, they needed to determine the most effective way to impart these skills to their employees.

Xcel knew herding employees into a classroom for a lengthy lecture would surely produce glazed eyes, boredom, and a lack of enthusiasm for the new information, so they decided to take a more engaging tack.

Xcel turned to my company, Paradigm Learning, and Zodiak: The Game of Business Finance and Strategy, our discovery learning–based business board game that teaches employees to think like CEOs.

Xcel managers and other employees spent a half day of play to become more literate about key financial terms and concepts. The second half of the day was spent in a customized session called “Connections,” during which participants made discoveries and applied their new knowledge to the company and their departmental responsibilities.

“This training simulation enables employees to connect their new-found business literacy information to Xcel Energy’s own financial concepts, measurements, and overall strategic efforts,” said Eric Zakovich, organizational development consultant for Xcel Energy. “Our rationale for using business games and simulations was simple: With so much for our employees to learn, it is critical that the teaching methods we use be effective, efficient, and relevant.”

—Raymond Green is cofounder and CEO of Paradigm Learning, a corporate training and communications company specializing in the design of business games, business simulations, and Discovery Maps.