Cheers were heard from Auckland’s Amora Hotel conference room as 31 students from the University of Delaware’s study abroad program participated in a MikesBikes-Intro Business Simulation competition on the 11th of January. Facilitated by Smartsims, the MikesBikes-Intro Business Simulation allows student teams to run their own virtual bicycle manufacturing business as they compete against other student-run companies.
Smartsims’ staff began the event by discussing how they have overcome various sales and marketing challenges with clients spanning the globe, providing students with some real-world business exposure.
Students were then split into teams of five to formulate and implement their own business strategy for their virtual company. During the competition, Smartsims staff moved about the conference floor providing advice on how best to approach their desired strategies, answer questions and provide guidance where necessary.
Each new decision period in the simulation saw a rise in the student’s competitive spirit as teams were neck-and-neck and the leaderboard in constant flux. All of the teams performed admirably well but by the end of the simulation “Nick and the chicks” took away first-place with a Shareholder Value of $59.92, followed by “FabFive” in second with a Shareholder Value of $55.57.
The University of Delaware launched America’s first study abroad program in 1923. Now more than 1,100 students participating in 57 study abroad programs across 28 countries each winter. The program exposes students to the global business culture and environment. It was a privilege for our Auckland office to host this group and we certainly had as much fun as the students. We would like to wish “Nick and the Chicks” and “FabFive” a huge congratulations for their outstanding performance in the event!
– Brook McFarlane