The 5th Mind Method

Our driving Force: efficient Knowledge
Business knowledge that cannot be applied in practice is like a car without an engine. That’s why the 5th Mind method focuses on experience and practical work. The result is that our participants are also able to put their knowledge horsepower to test on the road. Because knowledge that is applied efficiently is the optimal driving force behind management and provides a decisive advantage over the competition.

Our Training: active instead of boring
3-5 participants work as a small team to take over the management of a fictitious company and compete against 4 other companies in a limited market. The aim is optimisation of the company’s results, i.e. increased revenue and cost reduction. This is an easy way for participants to learn about the interrelations in business administration. Topics such as balance sheets, profit and loss accounts, key figures such as WACC, ROCE, ROFE, etc. lose their fear factor and can suddenly be perceived as exciting. The participants’ activities result in them being intensively involved in what is going on and recognizing the links between causes and effects significantly faster. The effects of each action by management are experienced immediately.

 

 

1 Act:
Take action from the start: The 5th Mind method uses a backstory to get participants involved. Immediately after assuming responsibility for a company, business decisions are made. By taking action, the training participants acquire long-term knowledge.

2 Think:
Reflection on the cycle of activity. A “interior dialogue” provides insight into the effects of the steps taken. The participants come to understand business by recognizing interrelationships for themselves.

3 Discuss:
Experiences are exchanged in group discussions. The participants learn to articulate the effects of the actions that have been taken. One result of this is confrontation between varying ways of thinking and perspectives.

4 Theorise:
Reflection on what has been experienced. Participants demonstrate the interrelationships that they have recognized themselves and the business legalities and theories behind them during a de-briefing session.
This enables participants to learn the theories behind the concrete situations that they have experienced. This helps them to understand better. In this way, knowledge is associated with images and experiences and can be retained for longer. The knowledge provided does not, however, remain just theory, rather, it can be transformed into expertise later when it is needed.

5 Plan:
The last phase is a critical review of what has been learned. Practical implementation is checked in the participant’s own company.
Question such as

• What was new to you?
• What surprised you the most?
• What were the most important insights that you gained? And above all: 
• How will you be putting what you learned into practice?
  characterise this phase. Planning will take place after this analysis. Targets are defined. The next business period will begin at step 1 and the cycle will repeat itself. The participants’ knowledge will become firmer each business period. The inputs for each period vary.
  

Perfect Set-Up for your Company
We offer many company-specific solutions for topics such as principles of business economics, entrepreneurial thinking and Value Management. We offer standard industry solutions for service, trading and production companies. Our experts will adapt or develop special training programmes for banks, energy providers, pharmaceutical companies and the automobile industry in response to client requests

REGISTER NOW! Put us to the test at our FREE taster seminar!