New Zealand landscape with a question "When is the best time in the simulation to offer dividends?"

Dividends: When is the best time?

New Zealand landscape with a question "When is the best time in the simulation to offer dividends?"

 

If you were to walk into a computer lab with students playing MikesBikes, one of the questions or topics of interest that will be discussed is ‘Dividends’. Specifically, when is the best time to pay it and is it worth it?

This article, besides showing off the beautiful New Zealand landscape, will allow you to come to your own conclusion by bringing up factors you should be considering.

Within MikesBikes-Introduction, you need to wait a few rounds before you are even presented with the financial decisions but with MikesBikes-Advanced it is available straight away.

To answer this question quickly, there’s not really a ‘best’ time to offer dividends, but often a firm will establish a habit of paying out a certain proportion of the previous period’s earnings as a dividend, while retaining the remainder to invest in increasing the firm’s future earnings. The proportion of earnings retained for investment will depend on the firm’s growth prospects. A mature firm in a mature industry will often return a very high proportion of its earnings as a dividend because there are few growth opportunities. While these are vast generalizations, you need to figure out if distributing dividends is right for your firm. 

The main purpose of issuing dividends within MikesBikes is increasing your firm’s Shareholder Value (in the real world you are providing a return on your Shareholder’s investment in your firm). Before you begin thinking about how much dividends to issue, you NEED to ask yourself the following questions:

  1. Are you Financially Strong?
  2. Is there something else you can do with the profits?

In answering the question “Are you financially strong” review your Cashflow and Income Statements. Look to see how much cash you have at the end of your previous rollover; how much cash do you currently have? Do you have enough for the amount of dividends you are thinking of issuing? How stable is your Income? Might you need that cash for future expenses?

So you have decided that you have some spare cash. You can do quite a lot with that which might yield a higher return on your firm’s Shareholder Value than issuing dividends. While this article won’t go into complete analysis on how to evaluate these different options, we are simply bringing up alternative options for this cash:

  • Investing further in your firm by expanding into new markets
  • Purchasing another company (MikesBikes-Advanced only)
  • Pay off your firm’s debt to lower the interest payments (Note: it is expected that your firm has at least some debt)
  • Ramping up your marketing decisions to take a larger market share

While evaluating these options be sure to think about how Shareholder Value is calculated within MikesBikes. Typically, Shareholder Value is a measure of the current Share Price (which is based upon your firm’s Profitability, Earnings per Share, and the Debt to Equity ratio) plus the value of all past dividends paid, including interest.

If none of these options make sense, then you might decide to return some of these profits to shareholders through a dividends payment.

Be sure to check out our Facebook page and tutorial videos for further assistance on playing the simulation.

Professor Darl Kolb

Problems With The Modern Classroom And How Business Simulations Can Resolve These

Traditional methods of teaching via pure theory have dominated the educational landscape for generations, but technological advancements have disrupted not just how we do things, but also how we process information and learn. That is, there are now significant drawbacks of traditional teaching methods negatively affecting students’ learning.

Identifiable limitations of traditional/theory based education include:

1. Lack of theory connecting to real world application;
2. Dry nature of theory disengaging the fast-paced learner of today;
3. Lessons being viewed as an object to be passed on;
4. Little opportunity to experiment with theory;
5. Limited ability to reflect, observe and act.

Business scholars have long contended that the acquisition of theory by students is not a sufficient learning outcome. Rather, it is the application of this theory through direct experience that leads to the development of crucial management competencies such as interpersonal skills; critical thinking, workplace readiness and professional confidence. Methods in which direct experience is gained has evolved with the rise of technology and web 2.0. Today we use technology and the internet to entertain ourselves, as well as improving productivity. It is posited that as the current generation joins the workforce, the demand for e-learning will continue to increase as managers are increasingly referring to technology for solutions.

It can be argued that today’s business is very complex, requiring sophisticated skills; and that experience based learning is very productive in teaching business students. The Association to Advance Collegiate Schools of Business (AACSB International) founded in 1916, has long identified the value of experiential learning.

Why is experiential learning considered a huge leap forward in engaging the students of today? Experiential learning is described as an “outward-facing curricula and experiential education can create the critical intersection between classroom and business learning that keeps faculty and students connected to rapidly changing business models” . More than just informing students, their ability to critically and actively engage in research must be triggered through experience. This will lead to students using personal skills and tacit skills for their own knowledge creation.

While theory is necessary to create a base of knowledge, practical application is required to test a student’s understanding and experience these concepts at a deeper level while facilitating learning outcomes which they can take into the workplace.

Importantly, the Control-Value theory suggests that achievement emotions affect cognitive abilities, learning strategies, motivation, and self-regulation. Positive emotions allow students to enjoy themselves while learning, and peak their interest in developing professionally. Achieving positive emotions associated to learning can be difficult in traditional teaching methods. In stark contrast to positive emotions, the negative counterpart hinder the learning experience. Emotional responses like anxiety, frustration, shame or anger stunt desires to learn. However, it can also be argued that experiencing negative emotions can actually motivate students to perform better. Self-policing a controlled response to negative outcomes and emotions, students can accept that failure while difficult, is an opportunity to update tactics and strategies, to ultimately achieve success.

Experiential learning tools like business simulations give students the opportunity to experience the relevance of their learnt subject matter first-hand. Giving students more control and responsibility for their own learning can enhance their ability to learn from past experience. This is where simulation based learning become essential. Experiential Learning focuses on the learning process for the individual, through observation and interaction with the subject they are learning about rather than the traditional process of learning from a textbook. This also somewhat releases individuals from the burden of winning at the end of the game, to instead experience adaptive decision making as is often required in real-life situations. Simulations have flexible learning environments – different things can be learnt from the same game, and different participants can learn different things.

A good business simulation will allow students to:

1. Apply theory in a real-world setting. Allowing them to bridge the gap between learning and decision-making.
2. Engage in a challenging environment. To survive and succeed, they need to adapt and improve to changing conditions relating to their products, the competition, and the market as a whole.
3. Retain knowledge and develop skills. Absorb the lessons learnt to identify the actual consequences of decisions in the real world.

Business simulations bring practical reality and excitement to the classroom. Students obtain a vicarious exposure to the problems faced by real management teams. They gain immediate, concrete experiences, providing a base for their own observations and reflections in an environment that fosters positive attitudes toward learning.

 
– By Danny Master, Ian McPherson and Brook McFarlane

 


 

Ettinger, A., Holton, V., & Blass, E. (2006). E-learner experiences: what is the future for e-learning? Industrial and Commercial Training, 38(4), 208 – 212.

Finch, D., Peacock, M., Lazdowski, D., & Hwang, M., (2014). Managing emotions: A case study exploring the relationship between experiential learning, emotions, and student performance. The International Journal of Management Education, 13, 23 – 36.

Haro, S., & Turgut, G., (2012). Expanded strategy simulations: Developing better managers.  Journal of Management Development, 31(3), 209 – 220.

Kolb, A., Kolb, D., (2005). Learning Styles and Learning Spaces: Enhancing Experiential Learning in Higher Education. Academy of Management Learning and Education, 4(2), 193 – 212.

Image displaying the question "How do i maximize my total marketing contribution?"

Music2Go Tip: Improving Total Marketing Contribution

Image displaying the question "How do i maximize my total marketing contribution?"Landing on this page means you have come searching for answers to the question: “How do I maximize my total marketing contribution?” 

To answer this we first need to establish an understanding of what Total Marketing Contribution is and why it is important.

What is Total Marketing Contribution? Why is it important? 

Total Marketing Contribution is typically how you are graded or compared to your peers within your course (there are other indicators but instructors typically opt to grade you on this). While your marketing contribution is calculated as…

Marketing Contribution = Sales Revenue – Cost of Goods Sold (CoGS) – Marketing Expenses.

To get your Total Marketing Contribution you just sum up all the marketing contribution your firm has generated for the duration of your simulation (so far).

How do I maximize my Total Marketing Contribution? 

There are essentially four methods you can use here:

  1. Increase Sales Revenue while CoGS and Marketing Expenses remain constant
  2. Reduce your CoGS while Sales Revenue and Marketing Expenses remain constant
  3. Reduce your Marketing Expenses while Sales Revenue and CoGS remain constant
  4. Increase Sales Revenue while reducing your CoGS and Marketing Expenses.

Typically, you will want to aim for the fourth method used above.

To increase your Sales Revenue while reducing (or at the very least maintaining) your marketing expenses you need to ensure your Marketing Budget is spent as efficiently as it possibly can be.

How do I spend my Marketing Budget efficiently? 

Make sure you are reaching your customers through the most effective methods and appealing to their desires/wants/needs. Check the market information report, check to see what the market segment you are marketing to has the highest sensitivity to (higher sensitivity means higher change in sales volume). Check the Media Viewing Habits of the market segments, and take into account the media reach of the different media types.

When you have sales promotion available to you (after the first rollover), check the how old your product is within the Distribution Cover and Sales promotion report and see how to target your sales promotion based on your product’s lifecycle within the Market Information report.

When evaluating your decisions from the previous period you can look to reports like:

  • Some Product Details (or All Product Details)
  • Product Awareness Increase By Media
  • Distribution Cover and Sales Promotion (once Sales Promotion comes available to you)

(Note that market research reports will come out of your marketing budget so purchase these reports wisely). 

How do I reduce my Cost of Goods Sold? 

The best method for reducing your Cost of Goods Sold is conducting product development to reduce the cost of your product you’re selling. Consider the following critical points:

  • “Is the Research and Development cost worth the reduction in the production costs?”
  • “This will reduce my production costs but I need to reduce my price to remain competitive, thus reducing my gross margin per unit. Is it worth it? If I reduce my price and the production costs to maintain my gross margin per unit, will this increase my Sales Revenue anyway?  Is this market segment sensitive to changes in price?”

When evaluating your firm to see if you need to further reduce your firm’s production cost through product development, you can review the following reports:

  • Product Contribution
  • Pricing Overview

 

While there is no ‘one-way’ to win any of our simulations; be sure to check out our tutorial videos and the player’s manual for advice on how to best implement a strategy your team has chosen.

If you have any questions about the simulation feel free to get in touch with us at help@smartsims.com or fill out a contact us form.

Image of question on piece of paper: "Does the leftover marketing budget rollover to the next period?"

Music2Go Tip: Leftover Marketing Budget

Besides the view of the Auckland skyline and the iconic Skytower, it is likely you have come to this page searching for the answer to the question: “Does the leftover marketing budget rollover to the next period?”

The short answer? No. It is therefore in your best interest to spend the entirety of your marketing budget (see Budget Spending report under Forecast Results to see how much of your budget you have spent).

Be sure not to overspend on your budget as well. If you do spend more than has been allocated to you then the simulation will cut back on your spending for you which may not be in the manner you would like!

 

How do you get a larger budget?

Your budget is given to you based on either 50% of your last year’s gross margin (see the Industry Benchmark report under key reports for this figure) or $25 million, whichever is higher (up to a maximum of $50 million).

Alternatively, you can launch a new product which provides your firm with an extra $10 million to fund the launch campaign (but this comes with its own expenses). This funding only lasts for one year.

 

While there is no ‘one-way’ to win MikesBikes or Music2Go; be sure to check out our tutorial videos and the player’s manual for advice on how to best implement a strategy your team has chosen.

If you have any questions about the simulation feel free to get in touch with us at help@smartsims.com or fill out a contact us form.

Picture with text overlaying saying how to forecast sales within MikesBikes Advanced

Forecasting Sales within MikesBikes-Advanced

The video above will demonstrate how to make a Sales Forecast for an existing product and a new product, as well as the complementary production decisions for both.

Just a note that for our example in calculating the Planned Production units for our existing product, you will see that we have Closing Inventory. However, if you have no units of Closing Inventory, you do no need to subtract any units from your Sales Forecast to calculate your Planned Production.

We have provided you with the script for the video below to read through:

“In MikesBikes Advanced you will be required to enter a Planned Production decision for each of your products. Your Planned Production will be your Sales Forecast minus any existing stock.

Planned Production = Sales Forecast – Existing Stock

How do I conduct a Sales Forecast?
A Sales Forecast is a prediction of the number of units we believe we can sell in the year ahead. This is calculated by predicting our market share for the year ahead; being the percentage of the total market we believe we can secure.
Estimated Market Size Next Year x Percentage Market Share

What is our market share?
So what we need to do first is to identify our current market share through the Market Summary report. We can see that for our RC Rockhopper product, we had a market share of 49.8% of the total unit sales last year.

What is the estimated market size next year?
We then need to find out what the total market size will be for the year ahead. If we look at the Market Information report, we can see the forecast demand for the year ahead is 45,000 units.

Calculating our Sales Forecast
Therefore, in this example our Sales Forecast would be 49.8% of 45,000 units. Being 22,410 units.

Note that if you believe that based on your decisions for the year ahead you can increase your market share from last year, you would adjust this figure.

For this example, we believe our market share will remain constant therefore Sales Forecast will be 22,410 units.

Calculating our Planned Production
Now that we have a Sales Forecast we can calculate our Planned Production.

We can see on the Product Summary report that we have 1,698 units of Closing Inventory.

Therefore, our Planned Production is 22,410 minus 1,698 units. Being 20,712 units.

This is entered this into the Products screen under “Pricing”.

How do I conduct a Sales Forecast for a New Product?
For a new product, the challenge is we do not have any existing sales to calculate a Sales Forecast from.

Therefore, a Sales Forecast for a new product can only be based on the Forecast Total Market Size.

In this example, we are wanting to launch into the Leisure market.

The Market Information report tells us that for the year ahead, the Forecast Demand for the year ahead is 26,000 units.

If we then look at the Market Summary report we can see that there were no competitor products in this market last year. However, given the opportunity an empty market creates, we should assume that at least one other competitor will also launch into this market.

Considering this Single-Player scenario only has one other competitor we can aim to produce 50% of the Leisure market’s total size which is 13,000 units. Click Apply”

 

If you have any questions, please feel free to click here and fill out a form or email us at help@smartsims.com.

Fun and easy

Smartsims’ New Website

Smartsims Logo

It has been a big year for the Smartsims team! We have updated our logo and are now ecstatic to announce the launch of our new website!

There are many new exciting features that are a part of this! You may have already noticed:

 

Resources Section

Under the resources menu you will find: Case Studies, Articles, Simulation Resources and Hall of Fame. You will likely be familiar with the Hall of Fame and Articles. However, we are most excited about our new Case Studies page. Here you will find interviews with instructors sharing their experiences using our software; journal articles; and interviews with students.
 
 

Featured Case Study:

Preview for Case Study "Why students love SmartsimsS"


 

New Product Imagery and Product Logos

We have great new logos and product imagery for our products. If you’d like to take a look, you can find these new logos on the following pages:

Product Logo and Image for MikesBikes Intro       Product Logo and Imagery for MikesBikes Advanced

Product imagery and logo for music2go marketing       Product Logo and Imagery for AdSim

Launch of MikesBikes Accounting

Product Logo and Imagery for MikesBikes Accounting
Our most recent addition to our product line, MikesBikes Accounting, is a business simulation designed to support learning objectives of management accounting courses. We have more information on this product here. Feel free to get in touch with our team by filling out a form if you’d like to learn more.

New Responsive Design

This will allow you to easily view our website on any device while maintaining the same experience.

If you have any questions or comments feel free to get in touch with us by filling out the form below.
 

 

Why is calculating total capacity so important

Calculating Total Capacity

Why is calculating your Total Capacity important?

While the simulation shows you your firm’s current total capacity, you can use this calculations to predict the amount of bikes your firm can produce in upcoming years; work out if you need to reduce or increase your capacity or; question whether there is an imbalance between your factory and workers.

In MikesBikes your factory is most effective when the capacity of your workers is well matched to the capacity of your plant. If your Factory Workforce and your Plant Capacity get out of balance then it is likely they will not be working to their full potential (possibly costing your firm more than is necessary).

Total Capacity SCU = Squareroot (Factory Workforce Capacity SCU * Plant
Capacity SCU)

This equation allows you to emphasize one form of capacity over another depending on how each approach fits with your strategic plan. For instance, you can employ more workers immediately whereas you have to wait 12 months for new Plant to become available.

Just be aware that if your Factory Workforce Capacity and Plant Capacity favor one over the other too much then you might find this is inefficient. So check your Manufacturing Responsiveness report when deciding whether to employ more workers or to purchase more Plant.

How do I calculate my Total Capacity?

Example 1
Factory Workforce Capacity = 25,000 SCU and Plant Capacity = 25,000 SCU
Total Capacity = sqrt (25,000 * 25,000) = 25,000 SCU

Example 2
Factory Workforce Capacity = 35,000 SCU and Plant Capacity = 15,000 SCU
Total Capacity = sqrt (35,000 * 15,000) = 22,912 SCU

Example 3
Factory Workforce Capacity = 40,000 SCU and Plant Capacity = 10,000 SCU
Total Capacity = sqrt (40,000 * 10,000) = 20,000 SCU
 
Be sure to note that this total capacity won’t be completely what is available to you. Your factory faces inefficiencies (if you’re using MikesBikes-Advanced then this will be things like breakdowns, reworking, setup, raw materials stockout and training) which will mean you don’t get to use the full 100%. Check out the manufacturing guide for more information on how this will affect your decisions.

 

How to Design a Business Course around MikesBikes-Advanced

How to Design a Business Course around MikesBikes-Advanced

Designing a course requires professionals, topic experts, and a deep understanding of students’ needs. The long and short of it: course design takes time. Therefore we are creating a series of articles on how select Smartsims clients employ business simulations to engage their students.

This article follows Professor Darl Kolb of the University of Auckland. Having utilized MikesBikes-Advanced within both MikesBikes-Advanced in both undergraduate and post-graduate courses, Professor Kolb’s students often exclaim this is the highlight of their degree.

Professor Kolb truly embraces the concept of experiential learning by utilizing course activities which reflect real-world situations managers of a company may experience. Through role-play students adopt roles within a ‘management team’. Instructors will take up the role of ‘shareholders’ or ‘board of directors’ who the students are responsible to. Deeply ingrained within the course content, the simulation is entirely relevant to the student’s and their futures. This relevance inherent within the simulation is key to keeping the students engaged. Professor Kolb finds this metaphore also provides students a sense of purpose and develops their skills for real-life business situations.

How is the simulation structured within the course?

“We have put it right at the centre of the design so it begins early on and runs on throughout the course so there is no seperation, it is intertwined … Students are getting used to the simulation just as they are getting used to the course.”

– Professor Darl Kolb

In general MikesBikes-Advanced features two key phases. The Single-Player practice round has students competing against a computer opponent where they can control moving back and forth between decision periods (which we term “rollovers”). This usually occurs over a two to three week period. Students then move onto the Multi-Player competition where student teams will be competing against each other for highest Shareholder Value.


Professor Kolb’s course is structured according to the following key events:

 1. Single-Player phase featuring:

  1. Single-Player Practice
  2. Resume Activity
  3. Multi-Player phase featuring:
  4. Multi-Player Practice Round
  5. Multi-Player Competitive Round
  6. Reflections
  7. Board Meetings
  8. Group Presentations Presentations
  9.  Final Shareholder Value

1. Single-Player Phase  

“Students play the Single-Player to get orientated [with the simulation] just as if they were getting work experience to get this executive role we are going to give them.”

– Professor Darl Kolb

Professor Kolb introduces the course and the simulation together, ingraining into students that theory goes hand-in-hand with real-life business situations. Providing students with access to the Single-Player allows students to experience the simulation before they begin their simulation associated assignments.
Single-Player Practice

Professor Kolb introduces the simulation to students in the first class and covers how the course will run. Outside of class time students will use the Single-Player for the first week aiming to gain the highest Shareholder Value they possibly can within a set number of rollovers (six to eight). Student’s best result in the Single-Player is included with their resume.

Resume Activity

Each student must submit a brief resume which includes past qualifications and/or experience which may be relevant to a position in the Management Team of their MikesBikes company, as well as their best Single-Player result. Professor Kolb then uses this information to assign students into teams of five, with an objective of splitting up those who performed well in the simulation and/or who bring previous business experience/qualifications. As part of this, Professor Kolb also assigns each student the role of either: CEO, Marketing Manager, Operations Manager, Finance Manager or Innovation Manager for their team (or ‘firm’). This application process helps students to develop the skills required to construct a resume and apply for a specific role they desire, often students will apply to particular roles they envisage for themselves after having completed their course.

2. Multi-Player Phase

“When their company begins performing we give them three practice rounds so they get to see the full MikeBikes-Advanced experience but they also get to restart and have another go in a different market. We have this stage to help students to come to grips with the complexity and the depth of the simulation.”

– Professor Darl Kolb

For the duration of the course, Professor Darl Kolb will continue with tying the simulation into the content he teaches. As a live case study, MikesBikes-Advanced provides him with a lot of opportunities to address specific events in the simulation by applying theory he chooses to present in class. With the simulation being applicable to each and every student, students find this content engaging and relevant.

Multi-Player Practice Round

The Multi-Player begins with four practice rollovers which occur weekly. This gives students an opportunity to familiarize themselves with their role and the team’s dynamics. It also enables students to, this course design starts students with a few practice rounds of the simulation. Letting students test strategies, make mistakes and learn from these. Students are bound to make mistakes and that is the nature of learning. This lets students make mistakes without affecting their grades later on. After the practice rollovers have been completed, the simulation then resets ready for students to begin with the real competition.

Multi-Player Competitive Round

The simulation is then reset ready for students to begin the real competition. Further rollovers are processed weekly. Over this phase Professor Kolb uses the activities below to facilitate real-world learning outcomes.
Reflections

At certain points throughout the course Professor Kolb assigns reflective exercises for students to complete. The most intense exercise for the individual students are the reflective essays; they require a combination of theory, personal experiences, introspection, and self-evaluation. Students are then graded upon their ability to describe their situations, their insight, and their ability to combine this with theory.
Board Meetings

Mid-simulation students engage in mock board meetings, where the Management Team (students in each group) must present to their board of directors (two or three faculty members). Students summarize their strategy, goals, and performance. Board members challenge students on the reasoning behind their decisions and remind them of their responsibilities to shareholders in future decision periods. This is potentially an activity which students can be graded on.

Group Presentations

After the final rollover each Management Team presents their simulation journey to the class. This is an opportunity to reflect on what went well, what mistakes were made, what they would they have done differently and what their learning outcomes have been.

Final Shareholder Value

Teams are ranked at the end of the simulation based on their Shareholder value. This is Smartsims’ recommended key performance indicator.

How does Professor Kolb grade the simulation?

Professor Kolb’s course content focuses on managing people and organizations. As such, although students are graded on final shareholder value, the majority of their course grade is assigned to reflections, board meetings and group presentations as mentioned above.


Is this the only way to design a course with MikesBikes-Advanced?

Far from it! This is only one article in a series which explains various different ways other instructors are including the simulation within their business courses. There are multiple ways on how to incorporate a simulation beyond this too! The options are limitless.

Want to get started incorporating the simulation into your course design? Want to learn more? The Smartsims Sales Team have years of experience and are here to help. Click here to talk to them about your course and how you would like to implement MikesBikes.

By Brook McFarlane

MikesBikes World Champs

MikesBikes World Champs: Past Winners

List of all the MikesBikes World Champions

Welcome to the MikesBikes World Championship (MWC) page recounting the historic winners of this competition year to year. If you are searching for a specific year simply click on the link below and you will be taken to the corresponding year. Otherwise, feel free to scroll through below.

2015 MWC Competition Results
2014 MWC Competition Results
2013 MWC Competition Results
2012 MWC Competition Results
2011 MWC Competition Results
2010 MWC Competition Results
2009 MWC Competition Results


2015 MWC Competition Results

The Sixth and Final Round rollover for Smartsims’ 2015 MikesBikes World Champs has now been processed and the competition is now complete. Bikes R Us from University of Haifa executed strategy with perfect timing and precision, ultimately reigning supreme! Leshaw from University of Auckland managed to finish a solid second, winning a tough battle against other contenders.

First Place: Bikes R Us from the University of Haifa
Bikes R Us Team

“After two second place in the past for the University of Haifa we are proud to finally win this competition. We took the lead in the second round and it was very challenging to keep it to the final round. It was a very great experience to compete both against our friends from the university and in 2015 Championship.

It was a great learning experience to play in MikesBikes, we would like to thank the other competitors from the finals and we wish everyone success in the future.” – Bikes R Us

Second Place: Leshaw from the University of Auckland

Congratulations to all those who competed in this year’s competition and wish you well in your future endeavours.

A full Scoreboard can be seen below:

Rank Institution Firm SHV Firm Participants
1 University of Haifa Bikes R Us $296.32 Aviram Cohen, Tal Shain, Daya Lettvin, Gadi Alon
2 University of Auckland Leshaw $231.08 Kaisaier Keyum
3 University of Auckland The Mighty Dumplings $176.86 Samuel Kiss
4 North Island College CyclePath $128.23 Cheri Carroll

 

 


2014 MWC Competition Results

With the final rollover for our MikesBikes World Champsionship processed, we are happy to announce the winners of 2014’s MikesBikes World Champs!

First Place: Apollo from the University of Auckland

“It is an amazing experience to compete in MBWC, Bikes R Us Teamand this game provided us with great opportunities to improve business analysis skills, team work and communication skills. We really appreciate it” – Hui from Team Apollo

Second Place: Momentum from Red Deer College

Congratulations to both teams and thank you everybody who participated! It was another great year and another intense competition!

The final scoreboard is below:

Rank Firm Institution SHV Team Members
1 Apollo University of Auckland $356.64 Tong Xu | Xiaoyu Zhou | Jarassiva Sivapirunthep | Hui Wang | Yuxin Su | Yuchi Shen
2 Momentum Red Deer College $195.46 Jordan Collier | Rylie Schaefer | Sam Debree | Mike Dobrowolski | Ryan Dahmer
3 The Cycle Shop University of Auckland $154.70 Sarah Lowe
4 weCycle University of Waterloo $131.72 Jeffrey Ying | Shannon Lan | Linda Zhang | Shivi Agarwal
5 Cycology TAFE NSW – Ultimo $2.15 Johan Wasserman
6 Felt Racing University of Waterloo $2.00 Andre Ostrovsky | Zi Heng Cao | Archit Shori | Melody Zheng
7 The Underachievers University of Waterloo $0.01 Jonathan Tsang | Eric Pang | Tom Zeng
8 Waterloo Bikes University of Waterloo $0.01 Austin Montgomery

 

 


2013 Championship Final Results

The sixth and final rollover for Smartsims’ 2013 MikesBikes World Champs was recently processed and the ultimate Champion is Xavier Wills from TAFE South Australia. All firms started the competition with a similar strategy but through unrelenting focus on the market, his firm and the products his firm was selling, Xavier Wills climbed up the leader-board, continuing to adapt to survive and excel!

“Competiting in the Mikes Bikes Championships was a great learning experience and has helped further my understanding of business and marketing principles, especially in regards to meeting the demands of the consumer. It was a very tough competition and full credit to SPIRIT BIKES, who were almost impossible to overcome. Best of luck to all of the competitors from the finals, I wish them all the best for their future business endeavors.” – Xavier Wills, Integrated Smack

The top performing firm was followed closely by SPIRIT BIKES, run by the University of Haifa’s dedicated students, Oren Feldman and Sharon Sisso. They gave a solid challenge till the very end and had us here at Smartsims guessing till the last minute!

It is no easy task being successful in the midst of giant conglomerates like the Top 2, but Middle Georgia State College’s Hamid Ganjikia found a position for his firm Cyrus to not only survive, but also thrive!

The 2013 MWC is the most interesting competition we’ve seen in recent times and it was no small feat to get to the Final Round. We would like to wish all the firms in the Final Round, not just the winners, all the best for their future endeavours! It was a pleasure spectating and we hope the Competition has been a great learning and fun experience for all of you.

Here are the results from the Final Rollover:

Rank Firm Institution SHV Competitors
1 Integrated Smack TAFE SA AIT $335.11 Xavier Wills
2 SPIRIT BIKES University of Haifa $325.73 Oren Feldman, Sharon Sisso
3 Cyrus Middle Georgia State College $132.87 Hamid Ganjikia
4 Luxury Bertels College of Staten Island $20.08 Javad Ali, Usman Ahmed, Mohammad Chugtai, Catherine Jeanbart
5 Cycle Paths Loyalist College $1.44 Aaron Sutherland
6 dyNMites NMIMS Mumbai $0.90 Nooruddin Hussain

 

 


2012 Championship Final Results

The 2012 MikesBikes-Advanced World Champions are…

First Place to Accounting Cyclers from the University of Waterloo – imageWith its fair share facing challenges, the Accounting Cyclers rose against powerful competitors like SAPYU and Still Life on a Pear, executing a well-timed strategy to come far ahead of the competition. The winners had a great experience synthesizing teamwork with victory.

“It was an amazing experience competing in the MikesBikes World Championship – thank you for providing us with the opportunity to use our skills and teamwork in such a dynamic business simulation game” – Accouting Cyclers’ Spokesman, Daniel Zhang

Second Place to SAPYU of Drexel University – Starting off as a strong contender, SAPYU stayed in top positions throughout the duration of the competition! The firm’s greatest strength was its ability to grow steadily despite constant changes to the industry.

“MikesBikes-Advanced has been a very good learning tool. imageBeing able to manage marketing, operations and financing all together and see the results of our decisions in first hand was not a small thing. The competition during the final round was intense, nothing was set until the last rollover. This experience will be very helpful to any career” – SAPYU Spokesman, Weilei Yu

Final Scoreboard

Rank Firm Institution SHV Competitors
1 Accounting Cyclers University of Waterloo $337.28 Ray Liu, Liang (Zhongshi) Chen, Alice Poon, Daniel Zhang
2 SAPYU Drexel University $196.11 Weilei Yu, Aaron Hartmann, Summer Rose Horan, Daniel Pinto
3 Still Life on a Pear University of Waterloo $167.27 Quinn Fischer
4 Cyclepath Bikes University of Auckland $156.08 Jane Choi, Joshua Robinson, Rachel Gabriel
5 Cyclone Christopher Newport University $8.01 Stephen Browne
6 Belicoli Bikes Manukau Institute of Technology $1.44 Virginia Imhoff
7 Firm6 University of Auckland $0.01 Louis Tangiia, Owen Isaachsen, Johan Lim
8 Vanquish Cycles Drexel University $0.01 Jerome Lynch

The competitive nuances were picked up on in most cases and efficient teamwork seemed to be a recurring factor to success. We wish all the participants well in future endeavors and thank them for the value they added to this event.

 

 


2011 Championship Final Results

The 2011 MikesBikes-Advanced World Champions are…

First Place to Matt Hopkins – Hailing from Bowling Green State University, USA, Matt veered his firm Iron Bike Tyson to victory, while competing with other powerhouse firms like ELOTI and Fairly Cool Cycles. Having established a strong foothold in the market from early on, Matt says he found the competition fun and extremely competitive!

“I would first like to thank all the competitors, you made this an extremely challenging competition. I constantlyMatthew Hopkins found myself questioning and tweaking my strategy to adapt to the hyper-competitive market. Overall, this
was an excellent experience and I couldn’t be any happier” – Matt Hopkins

Second Place to Tomer Weistuch, Inbal Nishlis, Ortal Azulay and Liora Barac – Competing from the University of Haifa, Israel, this team stayed in top positions all throughout the competition. The firm’s biggest strength was being long term sustainable, while maintaining steady profits. Team spokesperson Tomer Weistuch passes on this message:

” Thanks for the opportunity to learned a lot about business through the game. It was a great learning experience” – Eloti

2011 Final Scoreboard

Team Name SHV School Country Team Members
Iron Bike Tyson $177.64 Bowling Green State University USA Matt Hopkins
ELOTI $119.19 University of Haifa Israel Tomer Weistuch, Inbal Nishlis, Ortal Azulay, Liora Barac
Fairly Cool Cycles $110.83 Queens University Canada Ian Little
KIWIRIDER $98.72 University of Auckland New Zealand Benafsha Hajati, Pavneet Sabharwal, Nathan Harding, Craig Cao, Michael Ledingham, Jason Wong
free riders $95.53 Indian Institute of Management, Ahmedabad India Satish Korrapati, Kantesh D.Patil, Dushayntha Kumar C
QC Cycle $60.67 St Ambrose University USA Ryan Bloomberg, Krystal Burger, Heather Keyt
AUI $0.01 Al Akhawayn University Morocco Noureddine Chara
Firm8 $0.01 University of British Columbia Canada Cameron Drummond

 

The competition was a huge success and Smartsims would like to congratulate all those who competed this year competition. We wish you well in your future endeavours and thank you for the value you added to this event.

 

 


2010 MWC Competition Results:

The 2010 MikesBikes-Intro World Champion is…

Charles Lu from the University of Auckland.

Congratulations to Charles who narrowly won the final ahead of Garett Webb with a SHV of $97.14. Special mention also goes to Mark Delecate from the Munich Business School who won the Plate Final. Check out the Final Scoreboard below for a full run down.

“It was very exciting to participate in this competition asCharles Lu, 2010 MikesBikes-Intro World Champ the result in the end was very close. I would also like to congratulate the other prize winners for their fine results. I have used MikesBikes a few times in the past and each time it offers a unique experience because there is no single best solution to the game. You have to respond to your competition as well as implement your own strategy. I am looking forward to participating in future events!”
– Charles Lu

Congratulations to the award winning participants:

  • 1st Cup Final Firm – Charles Lu SHV $97.14
  • 2nd Cup Final Firm – Garett Webb SHV $89.16
  • 1st Plate Final Firm – Mark Delecate SHV $63.74

The Cup Final competitors were neck to neck for most of the competition! While Garett Webb started out strong and maintained the lead for the first half of the game, Charles Lu executed his strategy with perfect timing and precision, ultimately reigning supreme! Special mention goes to Hieu Ha, who ran a very successful and profitable firm. Their firm was very cost effective, with profits nearly as high as the winners, even with lower sales.

In the Plate Final, while Tang Tang and Mark Delecate started out strong, it was Adam Thompson who was Mark’s main competition. However, Mark Delecate had a strong business plan, and always stayed ahead of the competition, ultimately winning the final prize.

Full credit goes to the winners who fought close battles and emerged as victors! From the Scoreboard report you can see that consistently large Profit margins won the competition for the firms. The top performing Firms did this through being the most efficient with their spending, achieving the most effect from each dollar spent.

On behalf of Smartsims, we would like to congratulate all those who competed in this year’s competition and wish you well in your future endeavours.

 

Cup Final Scoreboard

Firm University SHV Share Price Profit Sales
Charles Lu University of Auckland $97.14 $75.52 $6,923,433 $25,142,521
Garett Webb University of Auckland $89.16 $73.02 $6,687,650 $22,230,293
Hieu Ha Drexel University $55.52 $27.28 $5,411,153 $19,585,217
Hoa Tran Drexel University $36.99 $21.18 $1,571,758 $15,200,640
Sergey Druhakou Robert Gordon University $26.17 $18.51 $2,497,654 $17,829,980

 

Plate Final Scoreboard

Firm University SHV Share Price Profit Sales
Mark Delecate Munich Business School $63.74 $49.40 $6,671,722 $21,209,510
Adam Thompson De Anza College $52.07 $45.89 $4,149,567 $17,060,510
Tang Tang Auckland University of Technology (AUT) $11.77 $11.77 $1,658,359 $25,253,587
Andy Stream University of Auckland $6.47 $6.47 -$179,211 $11,376,885

 


2009 MWC Competition Results

The seventh and final rollover for the 2009 MikesBikes World Championship has now been processed and the competition is now complete. Well done to all teams, the performance overall was exceptional.

Congratulations to the teams below:

1st Place – Winners: Life on Two Wheels (Canada) – $655.79 SHV
Andrew Leung1st Place, Mary Ibrahim, Laura Lau Moon Lin, Andrew Leung, Arnold Hang
Arnold Hang
Mary Ibrahim
Laura Lau Moon Lin
University of Waterloo

2nd Place – Runners Up: Mark’s Bikes (Germany) – $443.37 SHV2nd Place, Mark Delecate from Germany
Mark Delecate

Munich Business School

 

Full credit to Life on Two Wheels, who were able to push forward to top place mid-competition, and once there, have really dominated with a convincing win. Prizes will be awarded to the top two teams as advertised; we will be in contact shortly to discuss this.

The results speak for themselves; the remaining positions were a close battle heavily fought right down to the last rollover – you had us here at Smartsims on the edge of our seats. Special mention goes to team bbuNZ (New Zealand) who grabbed third place only on the final rollover. Congratulations to those remaining teams that were able to achieve over $200 SHV, Baldwin (Australia) and Legendary (New Zealand).

From the Scoreboard report you can see that although the top Firm did not have the highest Sales, it was their consistent large Profit margin that won them the competition (though large Sales definitely help to achieve that Profit). The top performing Firms did this through being the most efficient with their spending, achieving the most effect from each dollar spent.

On behalf of Smartsims, we would like to congratulate all those who competed in this year’s competition and wish you well in your future endeavours.

Final Competition Standings for 2009 MikesBikes World Championships

Firm Country / Region SHV Share Price Profit Sales
Life On Two Wheels Canada $655.79 $581.01 $59,137,708 $165,763,658
Mark’s Bikes Germany $443.37 $327.35 $52,089,346 $139,802,728
team bbuNZ New Zealand $433.56 $345.00 $58,958,176 $143,050,557
Baldwin Australia $295.06 $197.85 $33,399,486 $190,268,994
Legendary New Zealand $224.90 $176.45 $26,411,975 $100,671,575
Free Wheeling United States, Massachusetts $75.07 $68.16 $12,393,381 $105,164,172
New Cannondale United States, New York $14.28
Caine Cycles United States, Massachusetts $5.34
Post Spokes United States, New York $5.18
BackStreet Bikes United States $3.10
Tin Tin Bykes New Zealand $1.96
Real cool New Zealand $1.69
Cycle One New Zealand $0.90
Mike’s Transports United States, Iowa $0.20
BikesBikes New Zealand $0.01
CHers United States, California $0.01
DM Australia $0.01
OMAP United States, California $0.01