Case Study Archives

MikesBikes Business Simulation

Student Testimonial on the Real World Application of the MikesBikes Business Simulation

Employability, Entrepreneurship, Experiential Learning, News, Case Study, Popular

I am currently doing my co-op placement, but first I just say at how my mind is absolutely blown at the level of applicability of everything I have learnt in our [Marketing Strategy] class to the real world. The [MikesBikes, Smartsims] simulation combined with the journals has really enhanced the way I see the bigger picture and back it up with the analytical side.

I was so surprised to find that the company I am doing [work] for had no structures in place whatsoever when it comes to measuring company performance; especially when the company looked so successful on the outside. On the second day of my [work] placement I managed to sell Kaplan’s Balanced Score Card to the CFO and the CEO of the company; through the use of [heuristics] but also, because the simulation has put me in the seat of the CEO, I was able to talk in their language by using jargon that was music to their ears. And only after hours of going through data and speaking with front line managers, I found, that this company is going through some of the devastating decisions we made on the [MikesBikes] simulation; for example, no vision, promotional abuse and mismanagement of customer loyalty.

I have also recommended this paper to all my friends doing Marketing as a MUST DO PAPER.

– Anonymous student

Source: Spanier, N., Franklin, D. (2013), Practitioner heuristics: adapting student to co-op placement, New Zealand Association for Cooperative Education: Strategic Directions in Cooperative Education, 31-33.

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Teaching Strategic Management Online at Arizona State University

Online Learning, Capstone Business Simulation, Strategic Management Simulation, Teaching Methods, News, Case Study, Popular

With many courses transitioning to online this year we thought it timely to interview Scott Livengood from Arizona State University. Scott has a great deal of experience using our MikesBikes Advanced Business Simulation in his capstone Strategic Management course which he teaches in both face-to-face and online formats.

How do you use MikesBikes in your course?

I use MikesBikes Advanced primarily for my capstone Strategic Management undergraduate course.

I have three “rounds” of play:

  • The first is the Practice Round, where students compete directly against a computer rival in two possible customer segments (Adventurer and Leisure). This round is not graded but gives the students some exposure to the simulation so they can learn about its mechanics and also so they can experiment with and fine tune their strategies.
  • Next comes the Solo Round, where the environment is exactly the same as the Practice Round (i.e. only one computer rival and two segments), except the rollovers occur on my schedule rather than giving the students the ability to roll forward, roll backward, or to reset the simulation. This occurs for five to six rollovers, depending on the length of the course.
  • Last comes the Competitive Round, where students are assigned to “worlds” of approximately eight firms and they compete head to head with other students in the course, also over five or six rollovers. The Competitive Round also introduces three other customer segments (Racer, Commuter, Kids) and a new distribution outlet.
How do you introduce MikesBikes to students?

I have created a Beginner’s Guide where I essentially walk students through the first two years of decisions, using screen shots and references from the simulation itself. I have also created a video with my voiceover using the simulation while following the Beginner’s Guide. I also give some background regarding the purpose and learning objectives of the simulation.

Do students use MikesBikes in teams or individually? If in teams, how do you facilitate teamwork in an online environment?

I’ve experimented with using groups of students, but have found that to be ineffective, mainly due to two reasons: coordination and effort (often students don’t respond to communication and one or two students end up doing all the work and making all the decisions) and learning (students usually use the “divide and conquer” method where one student is in charge of marketing, a different one in charge of new product development, etc. whereas the way I do it, every student has to learn about all the various parts of the organization and how they fit together, which I think enhances the benefit gained). Thankfully, MikesBikes Advanced is complex enough that students have to dive in and learn new things, but not so complex that an individual student can’t make all the decisions.

What simulation related assessments and/or activities do you use?

Students are required to write a paper on External Analysis (Porter’s Five Forces), another paper on Internal Analysis (Resource-based View of the Firm), and another paper on SWOT Analysis and Business-level Strategies during the Practice Round to create a Strategic Plan for their Solo Round.

After the Competitive Round, they write a longer Simulation Reflection Paper on lessons learned from the Solo Round, a Competitive Analysis based on their biggest rivals, challenges with Diversification, exploration of a Merger or Acquisition (why or why not to pursue), and their biggest takeaway from the simulation.

These assessments align with the course material on Business-level Strategies and Corporate-level strategies and count for approximately 35% of their overall grade for the course.

In addition, a small percentage of their grade (5% for Solo and 5% for Competitive, which is mandated by our course coordinator – I would prefer 10% for the Competitive Round) is based on their actual performance on the simulation itself, using final SHV as the measure.

I break the students into “quartiles” based on their final SHV and assign a grade accordingly (top 25% receive 50 points, next 25% receive 40 points, next 25% receive 30 points, and the bottom 25% receive 20 points). This helps to reward students who perform well but isn’t overly strict for those who struggle with the simulation.

I impose a 20% SHV penalty for students who are insolvent during the simulation after providing a cash infusion to help them continue to be able to participate.

What other applications do you use?

We use Canvas as our Learning Management System and I use that as an interface with students. I do use VoiceThread for students to give presentation, but that’s not directly related to the simulation itself.

Do you have any tips for using a business simulation in an online course?

I love using a business simulation, particularly over the typical case study method. Cases are usually obsolete, have students analyzing other people’s decisions, and don’t provide an opportunity for students to practice implementation, assessment, and adjustment of their strategic decisions. However, with a simulation, students are able to make decisions for their own firms, see the results of those decisions, and adjust accordingly, all within a dynamic (and fun) environment. It’s taken me a few years to tinker with different ways to use the simulation, but I like what I’m currently doing and feel the students gain a great experience.

Related Articles:

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Teaching Strategic Management Online at USM

Online Learning, Capstone Business Simulation, Strategic Management Simulation, Teaching Methods, News, Case Study, Popular

The MikesBikes simulation has been extremely well received by students. Many enjoy the opportunity to work in groups and learn from others, while nearly all love the ability to apply what they are learning in a safe environment.

Lisa Parrott from the University of Saint Mary uses the MikesBikes Advanced Business Simulation in her online Strategic Management and Ethics course.

Lisa has kindly shared how MikesBikes is used at USM and provided tips to others implementing a business simulation in an online course.

Introducing the Simulation & Single-Player Phase

Week 1

Students are introduced to the Single-Player (practice phase) in the first week. They are also required to read the player’s manual and watch the tutorial videos.

To ensure they have completed these tasks they take a 20-question introductory quiz where they must achieve at least 80% to pass. They are given three opportunities to obtain a passing grade, otherwise they must work with the instructor to determine if they can continue in the course. It is critical students understand how to participate in the simulation before they are put into a team environment.

Students are also asked a brief strategy questionnaire to help the instructor formulate groups.

Finally, students are asked to translate their learning into an individual analysis that looks at the lessons learned, elements of the simulation that are still unclear, and reports used to evaluate performance.

Multi-Player Phase and Assessments

Week 2

The second week moves students from the individual experience into teams. Teams are free to use any means to work virtually; Google Hangouts, Zoom, Facetime, etc.

Students first complete a team contract to establish methods of communication, meeting frequency, workload, steps for resolving conflict, and deadlines.

Before starting Multi-Player phase they create a strategic plan. This includes building a mission statement, vision, values, performance objectives, and a plan for weekly evaluation of results and decisions.

Week 3 to Week 6

Rollovers (decision deadlines) begin in week three, with two rollovers per week until week six.

Each week students conduct an individual analysis examining the decisions made by their team, explaining their performance using data from reports within the simulation and to apply the weekly learning objectives to their team performance. This presents a knowledge check at an individual level each week.

After Rollover 4 a consultation meeting is held between each team and their instructor. This provides teams the opportunity to discuss their strategic implementation and evaluate progress to determine if change is needed. Teams can also use this time to ask questions.

Week 7

Teams prepare a video presentation covering elements from their strategic plan, a SWOT analysis, best practices, analysis of overall performance, and recommendations for future directions of the company.

Week 8

The video presentation from week 7 provide the opportunity for students to see “behind the curtain” of the other companies. In response, they are required to evaluate the strategy of their competitors.

Students also complete an individual evaluation of the performance of each of their team members and how they will use skills learned in their next group experience.

The final assignment for the course asks students to write an individual analysis of the entire experience. They are asked to evaluate team performance, consider whether they would expand globally (and where) and reflect on the entire experience. The paper also addresses the ethical performance of their team, effectiveness of their strategy, and highlights three lessons learned. Students are asked to incorporate scholarly articles into this assignment to support their assessment.

Tips for using a business simulation in an online course:

  • The first few weeks are often more time consuming than normal, and it may require multiple reminders to read the manual and watch the videos!
  • When introducing the simulation, it is best to focus on one area of development at a time, and build on concepts each week. Students get overwhelmed in the first few weeks using a simulation, especially if this is their first experience. As they become more familiar with how their decisions impact multiple elements of the business they will begin developing more complicated analysis of their performance.
  • Team design is extremely valuable for a successful Multi-Player experience. Too many risk adverse students will create problems with overall performance and this should be avoided.
  • The ideal team size is three. Two will often result in group-think and passive agreement, four often yields social loafing by at least one member who may not feel they have a voice. With three there is a tie breaker for any decisions when the team is split on how to move forward.
  • The more students know how to read the reports available to evaluate the effectiveness of their decisions, the better their team will perform and often understand how different areas are connected.
  • Each team will develop at a different pace, be sure to push them forward based on their unique needs. Some may reach a higher level of understanding faster than others.

View the course syllabus: Strategic Management and Ethics Syllabus

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Teaching Intro to Business Online at DMACC

Online Learning, Introduction to Business Simulation, Teaching Methods, News, Case Study

Des Moines Area Community College (DMACC) use our MikesBikes Introduction Simulation in their Introduction to Business course. The course is run in both face-to-face and online formats.

How do you use the MikesBikes Simulation in BUS102?

MikesBikes is used as a supplement to the material that we cover in class. The students are given approximately 45 minutes in class during the week (in face-to-face classes) to meet with their team and review their possible decisions. In an online class, the students compete individually.

How do you introduce MikesBikes to students?

MikesBikes is introduced to students in multiple announcements during the first week of the online class. These announcements direct students to folders in the online class containing Smartsims’ introductory videos and tutorials. In addition, after watching the videos, students must complete a quiz showing that they have a basic understanding of the simulation.

Do students use MikesBikes in teams or individually? If in teams, how do you facilitate teamwork in an online environment?

With the online course offering, students compete individually. If I were to offer the simulation in teams, as opposed to individually, I would encourage students to use free online meeting software such as Zoom Meetings or Microsoft Teams, and to meet at least once a week online.

Do you implement any simulation related assessments?

Primarily, the students are graded on their final shareholder value. There aren’t really many graded assessments in my online class. I have colleagues who have students present a final MikesBikes presentation at the end of the simulation.

What other applications do you use to help deliver your online course?

My college utilizes the Blackboard Learning Management System as the online platform to present classes.

What advice can you offer to others using a business simulation in their online courses?

It is critical to get students to practice with the Single-Player simulation prior to moving to the Multi-Player phase. Checking student login and online activity is important to ensure that there is a basic understanding of the simulation at the end of the Single-Player phase.

One piece of advice I would give would be to post weekly words of encouragement to students throughout the simulation as it keeps the work top of mind and keeps them focused on the work.

Related Articles:

best practice teaching online with simulations

Smartsims Business Simulations in Select Journal Articles & Conferences

Teaching Methods, Business Simulation, News, Case Study, Popular

The following are a selection academic papers featuring our MikesBikes Introduction to Business Simulation and MikesBikes Advanced Strategic Management Simulation.

Using Assessment To Measure The Effectiveness of a Financial Simulation

Abstract: This study examines how useful a financial simulation is at reinforcing financial learning goals as measured by an assessment. Programs within many College of Businesses are under increasing pressure to demonstrate that students are learning within their courses, assessment is one method of documenting learning. Most accreditation certifications require colleges to provide an assurance of learning using assessment techniques at the course and program levels. Business simulations play a potentially significant role in reinforcing course learning goals which are measured by assessments and document the assurance of learning process. Results indicate an improved comprehension of financial learning objectives for students after completing a business simulation with financial content.

Nugent, N., Stoyanov, S. (2019), Using assessment to measure the effectiveness of a financial simulation. Developments in Business Simulation and Experiential Learning, 46 (2019), 187-198.

Business Simulation Performance After Completing a Reflective Observations Module

Abstract: Many factors can contribute to a student’s successful learning experience when participating in a business simulation as part of their undergraduate curriculum. It’s important for faculty to understand the best methods to deploy simulation assignments to students. Is there a benefit to having students answer a set of reflective observation questions? Reflective observation questions ask students to think about their past actions, and to describe the effects their decisions have on their simulation performance. The main objective of this research: using comparative data from two classes to define the effectiveness of student performance within a business simulation after completing sets of reflective observation questions after each round of the simulation.

Nugent, M. (2018). Business simulation performance after completing a reflective observations module. Developments in Business Simulation and Experiential Learning, 45 (2018), 31-41.

Business Simulation Team Performance After Completing and Individual Practice Module

Abstract: Many factors can contribute to a student’s successful learning experience when participating in team based simulations. What is the best way to deploy simulation assignments to students? Is there a benefit to having students complete a significant amount of simulation practice rounds before competing against each other in a team environment? The main objective of this research: using comparative data from two classes to define the effectiveness of student team performance within a business simulation after an individual simulation practice assignment has been completed.

Nugent, M. (2014). Business simulation team performance after completing an individual practice module. Developments in Business Simulation and Experiential Learning, 41(2014), 157-164.

Instructing undergraduates in marketing strategy: from hindsight to foresight

Abstract: We are very good at instructing our students with explanations of the past. Unfortunately, prior research has noted that many business postgraduates misuse theory, as they tend to apply concepts they have been taught in the past, rather than adapt and apply foresight to a particular present context. Highly controversial work published earlier exposed the misuse of the popular Boston Consulting Group (BCG) matrix. Empirical evidence revealed that the BCG matrix leads to poor strategic marketing decisions causing managers to focus upon market share rather than profitability. In this present study, the earlier work is extended, using more controls and a larger suite of experimental conditions. A series of experiments were conducted, working with a sample of 221 executives in-training and experienced practitioners, in North America and New Zealand.

Spanier, N., (2013). Instructing undergraduates in marketing strategy: from hindsight to foresight. Marketing Education: New Challenges and Opportunities, 2013, 40-50.

The Development & Implementation of Business Simulations in Higher Education in the United Kingdom

Abstract: This thesis is a study of the development and implementation of business simulations/games in United Kingdom Higher Education institutions. The research takes an holistic approach and examines the topic from the perspective of developers of business simulations, academics who choose to implement simulations in their teaching, and students who are the end users of business simulations.

Doonga, N. (2013). The development and implementation of business simulations in higher education in the United Kingdom. OpenAIR@RGU.

Gender and Comparative Evaluations in Student Groups

Abstract: It is well documented that students generally overestimate their grades in coursework, and some studies have found that male students overestimate their test scores more than females do. This study examines gender differences when self-evaluations are compared to peer evaluations within student groups. Differences are found between male students and female students in their ability to accurately judge their own contributions in group work relative to the evaluations they receive from their peers.

Ammons, J. L., Brooks, C. M. (2013), Gender and comparative evaluations in student groups, Academy of Educational Leadership Journal, 17(2) 39-46.

Practitioner Heuristics: Adapting Student to Co-op Placement

Abstract: When people make efficient decisions that ignore some information or cues, they use their natural, intuitive ability to employ heuristics. The effectiveness of heuristics depends on the appropriateness to a given context.

Spanier, N., Franklin, D. (2013), Practitioner heuristics: adapting student to co-op placement, New Zealand Association for Cooperative Education: Strategic Directions in Cooperative Education, 31-33.

Learning to Lead: Mind Games for Middle Managers

Abstract: Middle management in tertiary education is a role made challenging by the current popularity of distributed leadership, allied with the mutually incompatible demands of the job, described in the Integrated Competing Values Framework. Middle managers need knowledge and experience to manage those challenges but these are not skills which are acquired quickly. Scenario based learning, role playing and games have been identified as effective ways of developing that knowledge and experience and demonstrating desired behaviours by problem solving familiar or recurring issues, in an environment people recognise.

Morgan, S. (2012). Learning to lead: mind games for middle managers. Tertiary Education Management Conference: Refereed Papers, 2012, 129-135.

Capital Structure and Dividend Policy in an Intro to Business Course

Abstract: At the undergraduate level, capital structure and dividend policy are generally introduced in a basic finance class and further developed in advanced courses in corporate finance. Exposure to the concept of shareholder wealth maximization earlier in the curriculum would be beneficial for student understanding of business decision-making. It is difficult to grasp the complexities of the process without some basic appreciation of the financing aspect of those business decisions. This paper outlines a pedagogical method for incorporating capital structure and dividend policy decisions into an Introduction to Business course through the use of a business simulation.

Reid, S., LaBonia, L., Shaw-Ching Liu, B., Luoma, P., and Asare, A. (2009). Capital structure and dividend policy in an intro to business course. Journal of Instructional Techniques in Finance, Spring (2009).

Learning Assurance Using Business Simulations: Applications to Executive Management Education

Abstract: Today the number of working managers returning to the classroom is growing rapidly as a result of globalization and technological developments. Many students are enrolling in executive management degree programs (EMBA) which feature flexibility and a focus on results. While most EMBA programs are delivered in a different format than the traditional MBA program the requirement for learning assurance is still essential. Simulations, which are used extensively throughout most EMBA programs as part of the experiential learning process, provide one approach for evaluating the effectiveness of curriculum design and delivery. The purpose of this paper is to illustrate how simulation in concert the development of rubrics can be used to support the learning assurance process in EMBA type programs.

Hall, Owen P. Jr. & Ko, Kenneth. (2006). Learning assurance using business simulations: applications to executive management education. Developments in Business Simulation and Experiential Learning, 33(2006).

Mike’s Bikes: Net Mike Version

Smith, P., Carrie, D. (2004). Mike’s Bikes: Net Mike Version. Simulation & Gaming (SAGE) 35(4), 527-529.

Mike’s Bikes: Solo Mike Version

Smith, P., Carrie, D. (2004). Mike’s Bikes: Solo Mike Version. Simulation & Gaming (SAGE) 35(4), 525-535.

Professor Darl Kolb sits with the Smartsims team and describes his past 15 years experience with their products

Real-World Experience In The Classroom

Teaching Methods, Experiential Education, Experiential Learning, Business Simulation, Case Study, Popular

 

In this video, Professor Darl Kolb discusses the unique way he has designed his course and complementary simulation-based activities to achieve amazing learning outcomes for his students.

Kolb is the Professor of Connectivity at the University of Auckland. His courses have always received high student ratings, praise from his faculty and have earned him multiple teaching awards. At the core of his courses for over 15 years has been the MikesBikes Business Simulation. Kolb has used this Strategic Management Simulation for over 15 years, in both his Undergraduate Course and his Masters of Business (MBA) Course.

MikesBikes is a means of introducing students to business concepts; such as strategy formulation, decision-making and teamwork. When used in a Capstone Course the simulation enables students to bring together all the theory from their business degree into a single experiential learning activity. To not only understand the individual functions of business, but to also see the connectedness and interaction of these functions. Over the years Kolb continues to receive feedback from students that their MikesBikes experience has not only provided them with workforce readiness, but gives them the leading edge in job interviews.

Kolb has designed his courses to create the most a realistic business environment he can for his students. Students are first tasked with writing their MikesBikes Résumé to apply for a position in their management team. This is done using a combination of their Single-Player (practice version) performance and their personal skills, experience and abilities. Based on their résumés, students are put into teams and assigned roles; Marketing Manager, Operations Manager, Finance Manager, R&D Manager and CEO.

The student teams then work together to conduct a market and company analysis, formulate strategy and implement their decisions prior to the first decision deadline (Multi-Player rollover). After each rollover, the results are displayed and discussed in class, giving students time to meet and reflect on their decisions.

Over the length of the course students participate in mock board meetings and management team presentations. These complementary activities aim to not only help add reality to this experience, but to also give students genuine confidence and real-world skills to take into the workplace.

For Kolb, and hundreds of other instructors, the MikesBikes Business Simulation has proven to be a great foundation for students at all course levels.

Experiential Learning Coming Alive at Drexel University

Teaching Foundations of Business with MikesBikes Introduction

Teaching Methods, Experiential Education, Experiential Learning, Business Simulation, Case Study, Popular, , , ,

Credit: Drexel University, LeBow School of Business

Associate Clinical Professor Jodi Cataline uses MikesBikes simulations to teach her freshmen students the foundations of business. Teaching at Drexel University, she found that business simulations improved the quality teaching through its unique hands-on approach.

Jodi describes how the simulations allow her to move beyond purely academic forms of business education. She extracts terminology and concepts from her teaching material and challenges her students to use it in the MikesBikes simulation.

Jodi and her freshmen cohort demonstrate how Drexel’s business faculty benefit from MikesBikes. Drexel students are prepared and confident to enter the workforce after completing the MikesBikes simulation.

 

Andrew Patterson

Teaching with the MikesBikes Business Simulation

Teaching Methods, Business Simulation, Case Study, Popular

 

Andrew Patterson a professional teaching fellow at the University of Auckland discusses his experience using MikesBikes Advanced with his undergraduate students. He describes how the MikesBikes Advanced business simulation provides a new and effective system to engage his students.

Andrew has spent over 4 years teaching in the University of Auckland Business School. He is currently using the strategic management simulation, MikesBikes Advanced in his undergraduate management course. It remediates what Andrew identifies as shortcomings of traditional learning styles.

Traditionally, learning environments have been passive systems unable to effectively target large student cohorts. Andrew found that MikesBikes provided an entirely new form of experiential learning. He used the business simulator to provide students with a business and management simulation where they could strategize and apply course content. This allowed him to focus on guiding students through their business strategies and building on their educational experience.

The course focuses heavily on the student’s experience in the simulation and their reflective observations. Andrew primarily uses his lectures to meet with student teams and coordinate their business, management and marketing strategies. The course is graded based on the overall performance in the simulation and on the student’s learning journal. Andrew notes that the students’ MikesBikes experience made the reflective journal component possible.

The simulation allows him to keep his finger on the course’s pulse, set period goals and observe how students execute their strategies. The experiential learning environment created an active foundation where students could reflect on their learning using their own simulated business models.

Andrew closes in saying that in four years of teaching, he has never encountered anything like the MikesBikes Advanced simulation. The level of student engagement and interaction made it a positive experience for him as an instructor. His students added that it was one of the best learning experiences they had in university – this was echoed by their high attendance and engagement in class. Their experience with the simulation provided tangible case studies for them as they begin their careers; proving that its learning potential goes beyond the classroom.

King's Own Institute instructor

MikesBikes Introduction Simulation in a Business Project Course

Teaching Methods, Business Simulation, News, Case Study, Popular

King’s Own Institute (also known as Australian Institute of Business Management) instructor, Rex Walsh (pictured above) was over the moon when he found out that one of the teams in his class achieved the top spot in the MikesBikes Introduction Hall of Fame. A big congratulations to Dashcycle and Rex for this amazing achievement! 

We interviewed Rex to learn more about his course and how he prepares students to succeed in the simulation. 

Tell us about your experience with MikesBikes Introduction.

Wonderful.  Players universally rate this unit as the most relevant, rewarding and personal development based course they complete and this is incredibly rewarding for me.

Players have even made their own customized bike and accessories! It’s mind-blowing!

How does MikesBikes allow you to engage with your students?

MikesBikes allows me to engage with my students in the most rewarding way.  The players develop competence, skills, confidence and learn to relate to me simply as a mentor. They grow up quickly in my course!

How is your course designed?

We operate the course as a practical real life program.  The simulation is the vehicle for which students must then adjust to be business ready in a real world sense.

How is your course assessed?

Assessment is based initially on the position achieved in simulation.  Based on this grading, students must then present various supporting assessment materials.  This includes reflection journals, business reports, business presentations, including a startup for venture capital and at completion a business ready presentation to launch in the real world.

How do you prepare students for the MikesBikes simulation?

In the first few weeks, they go through the Single-Player practice version of the simulation. The students must survive on their own with my role purely as a mentor.  They are challenged to experiment and explore various decisions, and strategies.

Tell us about unique activities used to complement the simulation.

Players are asked to develop webpages, social media pages such as Facebook, Instagram, etc.  Students also use video editing software to make presentations and advertisements.

What do students take away from the simulation? For example, did the simulation improve their academic performance and/or assisted in securing a job?

Students are able to launch their own businesses after and during completion of the simulation.  My approach is very much based on simulating real world application.

Why do you like MikesBikes?

The support offered by Smartsims is terrific and the lasting relationship is very rewarding!!

Comment on your experience with the staff.

The staff are terrific and very responsive, not just to me, but also to the students. I cannot recommend Smartsims staff more highly!