Sustainable management training for MENNEKES executives
MENNEKES is a medium-sized family enterprise with its headquarter in Kirchhundem in western Germany. Today the manufacturer of plugs and sockets is internationally active and has 1,000 employees. In November 2016 the top management of MENNEKES carried out a two-day management training of MARGA Business Simulations. Fourteen management board members of the areas Marketing & Sales, IT, Human Resources, Finance as well as R&D and Production met the challenge of steering a virtual company to success within a team. After an introduction and test period, the teams participated in an exciting competition, which covered five consecutive simulation periods. The objective was to be on top of the competition and to create the highest company value. Therefore, most of the participants had to take another point of view as usually; they had to regard the company from an overall perspective instead of a certain subject-specific one. The challenge was to bring market behavior and demand, production capacities and finance politics in line and to develop and implement a long-lasting competitive strategy.
Between the simulation periods key note speeches regarding the topics 'Implementing competitive strategies', 'Reading financial statements' and 'Creating company value' took place. During the team work the MARGA trainers supported all participants as consultants and answered questions. At the end of the competition all teams presented their strategies and success factors within the scope of a 'shareholders' meeting' and the winning team with the highest company value was declared.
The feedback of the participants was consistently positive; the overall perspective has sharpened their understanding for entire entrepreneurial interrelations and created a sustainable training success.