Wharton@Work

November 2024 | 

Fast-Track Learning: A Simulation Transforms Leaders

Fast-Track Learning: A Simulation Transforms Leaders

In traditional business coaching, executives receive feedback based on conversations, assessments, and self-reported challenges. While valuable, this approach can miss the complexities of how leaders perform under pressure. What if, instead, coaches observed them in the moment as they navigate high-stakes decisions, team dynamics, and competitive challenges? That’s the experience offered in Wharton’s Executive Development Program (EDP) through its business simulation.

EDP participants overwhelmingly cite the simulation — and the coaching — as a highlight of the program. Mirroring authentic business dynamics, the simulation allows participants to experience the consequences of their decisions in a risk-free environment, while receiving immediate, insightful feedback from coaches on how they lead, collaborate, and problem solve. This real-world window not only reveals the nuances of their professional behavior but also challenges them to adapt and evolve in real time, providing a depth of learning that traditional coaching methods struggle to match.

The Simulation’s Tangible Benefits

Designed to be a hands-on laboratory for the lessons taught by faculty in the classroom, the simulation is a powerful opportunity to try out new skills and insights in addition to exercising the honed behaviors that got participants where they are in their careers. The simulation is one of the reasons Chip Greek, COO of government services at a.i. solutions, chose to attend. “I was on the path to being promoted to COO, and my CEO wanted me to find a program to help with executive development. The EDP was my choice because of the focus on business acumen, and importantly, the inclusion of a simulation and coaching.”

Greek’s decision to attend the EDP before his promotion to the C-suite is a common one across the program’s decades-long history, although many participants are also emerging leaders. No matter their tenure, though, participants spend two weeks on Wharton’s Philadelphia campus honing business acumen in strategy, finance, marketing, operations, and management in the classroom. Then they test that new knowledge in the simulation.

Developed specifically for the EDP, the simulation is an exclusive competition in which participants work in teams to run a virtual company. They begin by choosing roles and then work through specific challenges, negotiating with other teams in their efforts to be the most profitable. The simulation highlights both business knowledge and leadership capabilities — all under the watchful eye of executive coaches.

Emily O’Neill, chief of staff, marketing, at Edelman Financial Engines, says the “true-to-life” experience and immediate feedback are critical elements in making the learning transformational. She notes, “One of the purposes of the simulation is to push us out of our comfort zone. I could have easily taken on a role similar to one I already knew, but the learning would not have been as great. So instead of choosing something comfortable, I took on the CEO role. My team challenged me throughout the experience on the behaviors I needed to work on. I learned to manage my time better and to ask where my help might be needed instead of making assumptions.”

O’Neill, who received two promotions since she attended the EDP, adds, “We did after-action reviews after every round of the simulation, and they were incredibly helpful. You heard about your performance, and if it was something positive you found ways to repeat it. If it needed improving, you found a way to do it better. And because the simulation was tied so closely to the classroom sessions, you could gauge how well you were applying what you learned. No one lets you, or themselves, off the hook — it was all about improving as individuals and as a team.”

Outcomes that Reveal Results

The real test of leadership development comes when participants return to work. Transformation means there are significant, tangible improvements that benefit the individual leader, their team, and their organization — which often lead to new roles with greater responsibility. Greek explains, “I immediately started implementing the new approaches I learned, and my growth has not only helped me in my present and future roles, but also helps the company as a whole. I know I’ll continue to progress because I now have a group of peers that will tell it like it is, unlike people at work who might tell me what I want to hear. Staying in touch with my EDP team keeps me focused on my goals. That network, and the combination of classroom learning, coaching, and simulation, prepares you for reaching the next level — whatever that is for you.”

O’Neill agrees. “The EDP gave us a safe space to be vulnerable, to work on ourselves, and to be a part of a powerful feedback loop. l already considered myself self-aware but the EDP brought it to another level. No one in my workplace could be as objective as I need them to be, simply because we work so closely on a daily basis, but my EDP peers and coach could. We developed a very high level of trust quickly — you could share what you were struggling with because you knew the other participants could provide valuable advice. I don’t think you can get that kind of perspective anywhere else. I’ve had leaders in my company tell me I have a lot of potential, but I didn’t always see it for myself. Now, with the added exposure from EDP, I see my future as limitless.”