The Gamification of Family Business Education

Written on 27 August 2015.


PandoraFBC.jpg

Pandora® is an innovative tool in finance simulation. In collaboration with Deloitte, the EDHEC Family Business Centre developed Pandora®, the first “serious game” for family businesses. The simulation reproduces decision-making within the fictional Sanchez family business. 

What was your vision for Pandora®?
Our starting point was based on intuition. People in family businesses have little exposure to capital restructuring options and their possible consequences. We wanted to build a simulation that would present the differences between key financial options, like private equity, bonds (convertible or not), asset sales, IPOs, debt, and so on. We knew we needed to situate such an educational tool within a ludic environment to attract family members with little knowledge in finance.

What do you believe are the advantages of the gamification of learning?
Gamification helps present information in a playful way and also promotes teamwork. Pandora® is played in groups over the span of one day. Participants receive a lot of background information about the family and business through an interactive interface. They can meet the family, send messages, explore the business, and retrieve the information they need to help make decisions at a later stage.

How did students react to the experience?
People love the story-telling aspect of the game. They like to meet the Sanchez family characters, some of who remind them of people in their own family.

Extracts from Tharawat Magazinewww.tharawat-magazine.com

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