Question of the Week: What does the Awareness Rating mean and how do you influence it?

May 18, 2018Student Advice, Business Simulation, NewsCamille Canuto

Awareness refers to the degree of knowledge that customers have about a product in the market. This is knowledge not only that the product exists, but also information about benefits, quality, price, design, and style; in particular as compared to its competitors. In MikesBikes, your product’s awareness is a factor of both your Product Advertising … Continue reading Question of the Week: What does the Awareness Rating mean and how do you influence it? →

External Funding Options in MikesBikes: Debt or Equity?

May 16, 2018Student Advice, Business Strategy, Business Simulation, NewsNatasha Vaglenarova

In MikesBikes, funding large investment options such as purchasing additional plant capacity and development projects may require additional capital. Raising Debt or Equity are ways companies can raise additional funds to finance these large projects or investments. In deciding whether to increase Debt, issue Shares or a combination of both; companies should assess their current … Continue reading External Funding Options in MikesBikes: Debt or Equity? →

Why is Shareholder Value the Main Metric in MikesBikes?

May 15, 2018Teaching Methods, Business Simulation, NewsCamille Canuto

Here are some reasons why Shareholder Value is the main metric in MikesBikes: There are arguments for and against any metric you might choose. However, if there is a single metric on which students are measured, Shareholder Value is better for grading in most courses. This metric is simple to understand, capture and reward both financial … Continue reading Why is Shareholder Value the Main Metric in MikesBikes? →

Don’t Make These Mistakes in the MikesBikes Advanced Business Simulation

April 27, 2018Business Simulation Hints Tips Cheats, Student Advice, NewsCamille Canuto

“Success does not consist in never making mistakes, but in never making the same one a second time.” – George Bernard Three of the most common mistakes we see MikesBikes Advanced users make are: Misunderstanding the Importance of Reaching the Right Customers Failed Development Projects Excessive Stock on Hand Mistake#1: Misunderstanding the Importance of Reaching … Continue reading Don’t Make These Mistakes in the MikesBikes Advanced Business Simulation →

What is Economic Value Created (EVA)?

April 11, 2018Student Advice, Business Simulator, Business Strategy, Business Simulation, NewsCamille Canuto

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)? →

Question of the Week: Can we abandon a recently launched product?

March 19, 2018Student Advice, NewsCamille Canuto

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? →

Question of the Week: How do we decrease our factory’s Wastage?

March 13, 2018Student Advice, Business Simulation, NewsCamille Canuto

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? →

Interview with the 2017 MikesBikes World Champs Winner: Exodus

February 14, 2018Student Advice, Experiential Education, Business Strategy, Experiential Learning, Business Simulation, NewsNatasha Vaglenarova

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 →

2017 MikesBikes World Championship Competition Results

February 13, 2018Business Simulator, Business Strategy, Experiential Learning, Business Simulation, NewsNatasha Vaglenarova

“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 Help Texas Students Succeed in Farming

January 30, 2018Teaching Methods, Employability, Entrepreneurship, Experiential Learning, Business Simulation, NewsCamille Canuto

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 →