After meeting with the Prime Minister, my consulting team gathered in the hotel pool (with drinks) to discuss how we should create a strategy for a nation. This was not the first time we had done this.
Everyone on the team suggested a strategy that they believed would work: these ranged from an emphasis on a particular agricultural product, to textiles, to tourism, to a regional transportation hub, to creating a “world national park.” For the next months, we worked tirelessly trying to disprove our favorite hypotheses.
That is called scientific method. And it is really effective when it is applied to actual business decisions.
But it rarely is – in real life… partly because this is almost NEVER taught in instruction about business management. Instead, academics require that “answers” to business problems conform to academic business concepts – rather than testing whether or not these concepts work in real life and in a particular context.
In Interactive Learning eXperiences, we ask students to create hypotheses (based on concepts) then spend hours, days, and weeks figuring out which if any of those hypotheses could possibly work. Students (players) ask questions, read reports, use search-engines, talk to experts, interview customers – just like we all should in real life.