Sherlock, the Experiential Training for Bank of Italy Managers
SDA Bocconi School of Management and its Learning Lab are helping Banca d'Italia managers to put their negotiating skills to the test. The experience occurs thanks to the online management simulation Sherlock, which is one of the many innovative tools used in a Banca d'Italia management training program called ASSO. It lasts three years, is still ongoing and is tailored by SDA Bocconi for the needs of the bank. "The program has engaged more than 500 managers so far", says Paola Schwizer, ASSO coordinator at SDA Bocconi. "Its purpose is to develop a common identity and boost personal skills, collaboration, and innovation".
ASSO is the Banca d'Italia's answer to the new challenges that it's facing. Among them, the development and reinforcement of the skills of managers who will start negotiations at home and abroad. Sherlock raises awareness on the importance of the so-called preliminary investigation, that is the in-depth knowledge of the counterparty and of the object of negotiation. "One common mistake", says Leonardo Caporarello, director of the Learning Lab and coordinator of the Negotiation and Influence courses, "is to engage in a poor information exchange and try to reach an agreement as soon as possible. The more time is invested in the investigation, the better the deal".
During the simulation, participants will take on the role of an external consultant in a negotiation. Their job is to support one of the parties proposing advises that are recorded by the system. The simulation is divided into four phases. At the end of every phase the participant is given the opportunity to change his choices according to what Sherlock users did since its first go-live. About one third of the participants usually fall into the error of being influenced by the majority. "The more prepared you are, the less you're influenced", says Caporarello. The results are then discussed in the debriefing process. "Participants like it: the average quality assessment of the program is 9.5 out of 10", says Paolo Pizzi, Head of ASSO program at Banca d'Italia.
"We want our courses to be experiential", says Anna Predella, Head of Banca d'Italia Training Department. "Simulations and hands-on experiences challenge old ways of thinking". Sherlock, Pizzi says, "turns the classroom into a laboratory. The simulation is part of a new methodology that we believe is very effective. It has four stages: a self-assessment questionnaire to guide managers to choose their area of training; the preparation activities with video lessons that create confidence with the teacher; experimentation in the classroom; four months later, a reflection on how they have changed their behavior".