Business Turnaround Strategy Simulation

Turnaround simulation where students save a failing business

The Finsimco Business Turnaround Strategy Simulation hands each student a business with nineteen weeks of cash, a forecast nobody believes and three stakeholders who can each end it. The window is already closing.

  • About 3.5 hours, single-player
  • Cash, stakeholders and sequence
  • In-class, online or hybrid delivery

At a glance

Duration

About 3.5 hours

You set every stage timing from the professor panel, so it fits one block or splits across two sessions.

Format

Single-player simulation

Each student holds the cash, stakeholder and strategy roles in turn and submits one turnaround plan.

Level

Undergraduate to MBA

Adjustable: one lender on a fixed forecast, up to three stakeholders, a solvent sale and an insolvency trigger.

Professor tools

Timeline and session controls

Manage students, adjust stage timings, control progression and monitor individual inputs.

Prerequisites

Cash flow statement

Students need to read a cash flow statement. Short-term forecasting and insolvency triggers are taught inside.

Delivery

In class, online or hybrid

The web-based simulation supports in-person, remote, blended and homework-supported delivery.

Assessment

Optional, per student

Every submission is individual, so the cash forecast, the actions and the review answers export per student.

Course fit

Fits strategy and restructuring modules

Designed for Business Turnaround, Restructuring, Corporate Strategy, Corporate Finance and General Management courses.

Concepts covered

The topics a business turnaround strategy module has to cover: the thirteen-week cash forecast, the turnaround window and when options close, the sequence of turnaround actions, stakeholder negotiation and veto power, buying time against fixing the business and insolvency triggers and directors' duties.

The cash runway of a business in distress, with the window in which a turnaround is still possible. The horizontal axis is weeks and the vertical axis is available cash. On the current trajectory the company runs out in week nineteen. Three intervention points are marked. Acting in week two, while there is still cash and credibility, a full set of options is available including a solvent sale and a negotiated refinancing. By week ten the cash has fallen far enough that only cost action and asset disposals remain. By week sixteen the only remaining options are insolvency processes, and the value available to any stakeholder has collapsed. The shaded band is the window where action is both possible and effective, and it closes long before the money runs out.

The figure a turnaround professional draws on the first day. The cash line reaches zero in week nineteen, but the useful question is not when the money runs out. In week two there is cash and credibility and the full option set, including a solvent sale. By week ten only cost action and asset disposals remain. By week sixteen only insolvency processes are left and value has collapsed for everyone. The shaded band is where action is both possible and effective. Underneath, the order: stabilise cash, take control, deal with stakeholders, then fix the strategy.

Learning outcomes

Written to drop into your module descriptor without rewriting. On completing the simulation, your students will be able to:

  • Build a short-term cash forecast credible enough to be relied on by a lender.
  • Identify the point at which each strategic option closes.
  • Sequence turnaround actions correctly and explain why the order is fixed.
  • Negotiate with secured, unsecured and commercial stakeholders who each hold a veto.
  • Distinguish actions that buy time from actions that fix the business.
  • Recognise the directors' position as insolvency approaches.

What students do

Each student runs the turnaround alone, holding the cash, stakeholder and strategy roles in turn. All three want something different in the same week, and only one action is taken.

Business Turnaround Strategy Simulation gameflow, five stages. Stage 1 Briefing, Role setup, 15 min: Watch intro video, Review the management accounts, One student holds all three roles, Review role, goals, and success criteria. Materials: briefing docs, management accounts, role cards. Stage 2 Stabilise & Negotiate, Weeks one to six, 60 min: the cash role build the forecast, stop the outflows, extend the runway; the stakeholder role meet the bank, brief the trustee, hold the customer; the strategy role resist the temptation, scope the options, submit the plan. Materials: thirteen week model, facility terms, stakeholder briefs, tool tips. Stage 3 The Squeeze, Weeks seven to sixteen, 60 min: the cash role report the actuals, explain the variance, find more weeks; the stakeholder role keep the facility, handle the trustee, save the contract; the strategy role sell or restructure, cut the footprint, commit or wait. Materials: weekly cash, bank position, buyer interest, live scores. Stage 4 The Outcome, Account for it, 45 min: show the timeline, explain the sequence, answer on the buyer, submit the review. Materials: review questions, decision timeline, value outcome, review pack. Stage 5 Debriefing, Results and feedback, No limit: review your timeline, compare the sequences, review the outcome, reflect on feedback. Materials: winners, completion summary. Total duration about 3.5 hours.

The gameflow every student sees before they start. The three roles come into play during the stabilisation and the squeeze; briefing, the outcome and the debrief are worked as a single view. Materials arrive stage by stage: management accounts and role cards at briefing, then the thirteen-week model, facility terms and stakeholder briefs for the first weeks, then the weekly cash, bank position and buyer interest once the squeeze starts.

Cash

Students produce a thirteen-week forecast the people funding it will actually believe, and extend the runway by every means available before anything else.

Stakeholder

Students deal with a bank that can withdraw a facility, a pension trustee with a claim and a customer who is half the revenue, each able to end the business.

Strategy

Students decide what the company should be once it survives, which is the most interesting question and the one that must not be answered first.

How it works

Five stages. Students stabilise a business with nineteen weeks of cash, negotiate with three stakeholders, and watch the options close.

  1. 1

    Stage 1 · 15 min

    Briefing Docs · Management Accounts · Role Cards

    Briefing

    Students watch the intro video, review management accounts that have been late and optimistic for two quarters, and take on all three roles, checking the facility terms, the pension position and the success criteria before any action is taken.

  2. 2

    Stage 2 · 60 min

    Thirteen Week Model · Facility Terms · Stakeholder Briefs · Tool Tips

    Stabilise & Negotiate

    The first six weeks run. Working as cash, the student builds a thirteen-week forecast and takes the actions that extend the runway; as stakeholder, meets a bank considering withdrawal, a pension trustee owed money and a customer who has heard rumours; as strategy, scopes the options without acting on any of them yet.

  3. 3

    Stage 3 · 60 min

    Weekly Cash · Bank Position · Buyer Interest · Live Scores

    The Squeeze

    Ten weeks run. A buyer appears in week eight and will not wait past week twelve, the bank wants a monitoring accountant appointed, and the first forecast missed by nine per cent, which costs more credibility than the money did. Each week that passes removes an option whether or not a decision is taken.

  4. 4

    Stage 4 · 45 min

    Review Questions · Decision Timeline · Value Outcome · Review Pack

    The Outcome

    The outcome is reported. Students are asked when they first took an action, which option closed first and whether they noticed, what the missed forecast cost in credibility, and whether the value preserved for stakeholders was better than a week-two solvent sale would have produced.

  5. 5

    Stage 5 · No limit

    Winners · Completion Summary

    Debriefing

    Students review their own timeline, compare sequences across the cohort, revisit the outcomes that separated them and reflect on the feedback. Winners and the completion summary give you a structure for the discussion.

What the experience looks like

The student interface carries the cash forecast, the actions and the reasoning. The professor panel carries the timeline, the controls and every individual turnaround.

Forecast

Students work action by action, with the cash it releases, the weeks of runway it buys and whose consent it needs side by side, and a written reason required for every action taken before the forecast is signed.

Squeeze

The options column is the one that matters. Eleven courses of action existed in week two and four remain in week ten, and most of them closed without anybody choosing to close them.

Professor Controls

Your view. Adjust any stage timing, start or stop the session, and see in which week each student first did something.

See how this simulation fits your module

Explore the student and professor experience, and discuss timing, setup and syllabus fit.

Where it fits your syllabus

It works best as the session that teaches sequence rather than strategy.

Teach before it

A cash flow statement. Short-term forecasting, stakeholder negotiation and insolvency triggers are explained inside the activity.

Where it sits

Late module, typically weeks eight to twelve.

What it sets up

Debt restructuring, insolvency processes, distressed investing, change management, and any assessment asking students to produce a recovery plan.

The turnaround course guide sets out where it sits in a full module.

What students get wrong

The three mistakes students make on this case, and what each one gives you in the debrief. Our simulations are designed around them: read the learning science behind it.

1

They start with the strategy

Fixing the business is the interesting problem and the one that must come fourth. A good plan is worthless if the company does not reach the quarter it starts in, and the students who redesign the product range in week two are usually insolvent by week fourteen.

2

They miss the first forecast

A thirteen-week forecast that misses by nine per cent costs more than the cash involved, because every subsequent number is discounted. Credibility is the currency in a turnaround and the first forecast is where it is earned or spent.

3

They wait for a better option

The buyer who appears in week eight will not wait past week twelve, and holding out for a higher price removes the option entirely. Students consistently underestimate how fast the option set shrinks when nothing is being decided.

How to debrief it

The debrief runs itself. Every student sees their results, the cohort comparison and the decisions that produced them, with nothing for you to prepare. If you would rather lead the discussion, these questions work straight from a slide, and they use what your cohort actually did.

  • In which week did you first take an action?
  • Which option closed first, and did you notice it closing?
  • What did the missed forecast cost you with the bank?
  • Who sold to the week-eight buyer? What did the others end up with?
  • If you ran it again, what happens in week one?

Assess the sequence and the timing, not the survival

Assessment is optional. Run the simulation ungraded as an applied activity, or use platform data as supporting evidence. Every student generates a cash forecast, dated actions, stakeholder negotiations, an outcome and written rationales. Because the simulation is single-player, every input belongs to one named student, so there is no group-work marking to untangle. All of it exports as CSV or PDF, per student, so you can assess reasoning rather than a result.

What professors can assess

  • Whether cash stabilisation preceded strategic action
  • Whether forecast accuracy was treated as a credibility question rather than an arithmetic one

How to interpret the score

  • Surviving to week nineteen with no value left is a worse outcome than an early solvent sale
  • Use the leaderboard for cohort comparison, not for grading

On generative AI: written rationales are exactly what marking teams now worry about. Because every rationale here is timestamped against the week it was written inside the platform, the reasoning can be checked against the evidence rather than taken on trust.

Low risk to try with a class

Students rate it

93% of students rate Finsimco simulations Excellent, across more than 30,000 responses.

You are not on your own

Teaching notes, a setup and facilitation guide and a gameflow diagram come with it, and we support your first delivery directly.

No grading commitment

Run it ungraded the first time. Assessment is optional and can be added once you have seen how your cohort responds.

A bad session is recoverable

Pause or stop at any point and resume later without losing submitted data, so an overrun costs you a timetable slot, not the activity.

What AACSB and AMBA say about simulations

Ron Tuninga, Managing Director for EMEA at AACSB, and Victor Hedenberg, Membership Director at AMBA, on why simulation-based learning belongs in business education. Watch both interviews.

FAQs

Get the course fit sheet

A one-page summary of this simulation, covering stages and timings, roles, concepts, learning outcomes and the debrief questions, plus a full sample teaching pack from one of our live simulations, so you can see exactly what you would be running.

Book a Demo

During the call, we can:

  • Show the student and professor experience
  • Discuss format, timing and syllabus fit
  • Walk through setup, live delivery and optional assessment evidence
  • Answer questions from your module team