Successful improv revolves around keen awareness, effective communication, clear thinking, teamwork, confidence, and the ability to tap into one's creativity. These same elements are crucial to success in the 'real' world. Applied Improv develops these skills, which, incidentally, are interrelated.
Awareness is a part of communication.
Clear thinking is required for good teamwork. Confidence results from accessing one's creativity and vice versa. There are other interrelations too, but you can put them on a piece of paper and figure them out for yourself. Applied Improv students work to develop discrete skills and then put them all together. Often the exercises and activities they do apply to the development of more than one skill.