Henry Ford is known for his innovative assembly line and American-made cars . Like many, he wasn’t an overnight success. His early businesses failed and left him broke five times before he founded the now successful Ford Motor Company. As they say, Remember that life’s greatest lessons are usually learned at the worst times and … Continue reading Common Mistakes in MikesBikes Introduction
We’re now halfway through the year and exciting developments are coming your way! Improved Tablet and Mobile Experience We understand that students have busy lives and are not always near their computer. So we have made it easier for them to check their results and update their decisions from their tablets and mobiles. They can … Continue reading Smartsims Product Updates: June 2018
If you are using MikesBikes Advanced your course will most likely feature a Final Double Rollover. What is a Double Rollover? A double rollover means that the simulation will rollover twice simultaneously. A Final Double Rollover ensures your final decisions leave their company in a healthy position for long-term success. How should I plan for … Continue reading What is a double rollover in MikesBikes Advanced and how does it work?
The following MikesBikes Advanced updates will apply to new courses starting from 1 July 2018. 1. Encouraging prudent product strategy The current scenario enables students to develop as many new product development projects as they wish in a given year. Over time we have observed this can encourage some to undertake a very risky strategy … Continue reading MikesBikes Advanced Updates: June 2018
We are currently in the process of updating the simulation interface and as part of this process, the MikesBikes Dog will be replaced with a new way of giving students a quick indication of their firm’s health. As they say, some good things need to end for better things to begin. As we bid farewell … Continue reading The MikesBikes Dog has now Retired
Joe Powell from Des Moines Area Community College (DMACC) managed to land the #1 spot in the MikesBikes Introduction Hall of Fame! Joe took the Introduction to Business course taught by Professor Josh Daines over at DMACC. He’s a 41 year old student and a father of 4 returning for a degree in Business Administration. … Continue reading Interview with the Top Hall of Fame Student: Joe Powell
Buying Plant Capacity Plant can be purchased or sold each period in multiples of 10 SCUs. Each 10 SCU of plant costs $1,600 to buy and any new plant takes one period to be commissioned and become productive. Selling Plant Capacity Plant is depreciated in the annual accounts using the diminishing value method, at a … Continue reading Buying and Selling Plant Capacity in MikesBikes Advanced
While all industries have best practices, they are especially prevalent in IT given that so much of the business revolves around data and business processes. Best practices formally represent tested and proven techniques in the form of procedural documentation. In contrast, undocumented procedures are often misleading because stated parameters are not necessarily true or accurate. … Continue reading Best Practice in Experiential Learning by Frank Voehl
The Awareness Index is the performance of your Advertising and Branding decisions. To increase it, you should invest in Branding, increase your total Advertising expenditure, and improve your Advertising mix. Branding Investing in promoting your firm’s brand will enhance the awareness of all your products. Brand advertising is a valuable complement to your individual product … Continue reading Question of the Week: What does the Awareness Index mean and how do you influence it?
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?