An increasingly popular way of measuring the financial performance of a firm is by looking at the Economic Value Created (often called EVA*) over a specified time span. See the Financial Reports section of the All Reports Menu for the firm’s current Economic Value Created report. In essence, this measure views the business as an … Continue reading What is Economic Value Created (EVA)?
If you accidentally launched a product and wish to abandon this in the same period, you can do so before the rollover. To do this: Go to the Products menu. Then click on the Product that you wish to abandon. On the right-hand menu, click on the Abandon button. You can launch this product again … Continue reading Question of the Week: Can we abandon a recently launched product?
In MikesBikes Introduction, effective capacity will prove to be less than your plan capacity because of various Wastage factors such as: Rework Setup Time Raw Materials Stockout Machine Downtime Wastage reduces your factory’s efficiency by using up time that could have been utilized to produce bikes. To improve or decrease Wastage, you will need to … Continue reading Question of the Week: How do we decrease our factory’s Wastage?
The 2017 MikesBikes World Championship winners Siyi Tang , William Setiawan , Jiedong Chen, Jayca Y. Siddayao, Mingchang Liang and Robbi A. Harnass of Exodus from the University of Auckland have joined the MikesBikes Wall of Champions with their impressive performance in the competition! Team Exodus competed against the best teams from around the globe … Continue reading Interview with the 2017 MikesBikes World Champs Winner: Exodus
“Success is not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill The 2017 MikesBikes World Championship has finished with a bang! Team Exodus from The University of Auckland has secured the top position as 2017’s MikesBikes Champs and have joined the MikesBikes Wall of Champions. Team GOFAST, … Continue reading 2017 MikesBikes World Championship Competition Results
Business simulations are helping students all across America succeed in the real world, and this is just as true in “The Lone Star State” of Texas. Farming is a major industry in Texas, and with technological advancements it has become increasingly important that ranchers and agricultural managers have degrees in business, with concentrations in agriculture, … Continue reading Business Simulations Help Texas Students Succeed in Farming
Adapted from an article written by Karie Willyerd, Alwin Grünwald, Kerry Brown, Bernd Welz, and Polly Traylor and originally published in the Digitalist Magazine by SAP. “An organization’s ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage” – Jack Welch For companies, traditional training methods, such as classrooms, are still relevant, … Continue reading New Models Of Corporate Learning – Digital Learning In Business
This month, Smartsims’ president and CEO, Dennis Gain is featured in Boston Voyager. Get to know Dennis and Smartsims Smartsims began expanding its business simulation offerings into education markets throughout the world through partnering with publishers such as McGraw-Hill and Cengage Learning. Its products are now prevalent in universities, colleges, and high schools and in corporate training … Continue reading Meet Smartsims’ CEO: Dennis Gain
Online Version of the Simulation: MikesBikes Introduction Most of the historical financial information you will require is in the Industry Benchmark Report. We have each year’s Industry Benchmark Report available under the “All Reports” menu at the bottom of the left-hand menu. Then click on ‘Industry Reports’ and then on the drop-down box within the … Continue reading Question of the Week: How do we access reports from previous years?
We have interviewed Baird Connor, Daughtey Benjamin, Goodwin Declan, Pearson Sean and Westry Najiyah of Funday Bike Parade (pictured above) from Virginia Commonwealth University who landed the Number 1 spot in the Top 20 MikesBikes Intro Hall of Fame. In this interview, the team provides insight into their strategy, the tools they used to help develop their winning … Continue reading “Funday Bike Parade” Share Their Journey to First Place