The Best MikesBikes Guides with Helpful Mikes Bikes Tips for each Round Show
Benefits of using Mike’s Bikes simulation Business simulations are excellent learning aids. While some people underestimate the usefulness of business simulations due to their gamification approach, Mikes Bikes simulation is quite useful in honing real-world skills. It also exposes students to market situations essential for grasping market concepts. 1. Enhanced decision-making skills Using Mikes Bikes simulation allow students to fully assess and enhance their business decision-making skills. Students are positioned in virtual bicycle manufacturing companies where they get to make the most effective decisions for the organization at the least cost possible. By training using mikesbikes simulation, learners can quickly adapt to typical working environments. When students encounter risks and tackle them in simulated business environments, they become more useful in real business settings. 2. Improved teamwork Although some people are comfortable working alone, many organizations recommend that employees work as a single, coordinated unit. Similar to business assignment help, Mike’s Bikes simulation has its way of enhancing teamwork among learners. Learners can interact and work in a group setting when making decisions. The spirit of teamwork reduces lower output and time wastage. 3. Enhanced realism Mike’s Bikes simulation has undergone rigorous testing to prove its effectiveness in replicating market environments. Through MikesBikes simulation, students experience virtual business situations that are only available to real employees. From the word go, students learn how to make viable decisions under a significant amount of pressure. Learners view their simulated businesses as real-world entities. This is particularly useful since a huge chunk of learning is achieved through hands-on experience. 4. Enhanced time efficiency Mike’s Bike simulations are a lot tougher than real-world experiences. Unlike in real-world situations, the time allocated in Mike’s Bike simulation is usually limited. Learners have minimal time to arrive at decisions. While this may seem grueling on the students, it teaches them to think clearly under pressure. Not only that, but they learn how to make profitable decisions within a limited time. MBA Simulation
gameFree Winning Guide and TipsMikesBikes SimulationUpdate Feb 2020 - June 2021 Free Personal Support for Round 1 and 2Email: MikesBikes Simulation Free Winning Guide and Tips PART 1 Simulation provide a chance to practice before facing business real-world experiences. It is for this reason that
MikesBikes Simulation empowers students to enable them to become responsible in the outside competitive market. You and your team take decisions as a leader of a firm to get higher profitability than
competitors. PART 2 Single-Player (Most simple - Always Win) The single-player is the basic phase in MikesBikes simulation that allows a learner to practice and compete against a controlled computer competitor. Unlike in the Multi-Player, ones decisions are not final. We can roll over and back into the next or previous years respectively to test decisions. If the decisions are not fine we can rollover and if the decisions are inappropriate, we can roll back to improve the decisions in order to beat the competitor. Unlike in the Multi-player, this is practice, and we compete with a single competitor. When in competition, we face 8 competitors, and they can set very different strategies. Single Player give a change to familiarize with the simulation in order to maximize shareholder Value (SHV). Most important benefit of Practice or Single Player is we can get significant ideas on how to make decisions in the actual phase, multi-player in the MikesBikes simulation. Most important skills are to read the reports and to make decisions in the game screens, transfer business ideas into the game decisions. FREE SUPPORT FOR ROUND 1 AND 2 Email: (This is apply for Practice or Single Player with only One product - Adventure For Competition 8 rounds with 8 competitors, Five Segments, read details guide for each rounds) Price Production->
Advertising-> while investing in the advertising, the ratios should be average divided in to 33%, 25%, and 42%.
Public Relation-> PB Exp. Ratio will be the same as the Advertising.
500.000 / 52700.000 / 52300.000 / 37
Capacity: 28.000 - 35.000 SCU Worker: 80-120 Workers
**Eg.**480360.000430.0003 weeks
**Eg.**27.00050720.000720.00019%
PART 3 Multi-player (Competition with 7 competitors) This is the real competition with very different competitors. We compete against other teams of colleagues or student groups. It is only the Shareholder Value (SHV) that can identify a winning team in the finance simulation game. Therefore, the core objective in this phase is to make best decisions in order to stand out of your competitors. It often has 8 rounds, rolling over to the next decision period is done automatically depending on the dates scheduled by instructor and can not roll back. The results became available in the finance simulation game when all your competitors have finished making their decisions too. Importantly, is to make sure we enter your decisions before the deadline. Missing one round will lead to difficult situation. Think about a factory closing one year when other seven competitors run their business. This will be very difficult to get back sales and profit. Often require 2-3 years to get back. So, again, DO NOT MISS a round. Also, remember that we are competing with SEVEN other teams. And they also wan to win and lead the game. They can use all different business, marketing, strategies to win good sales and profit. Dumping prices, increase promotion, jumping into a new market, launching new products... all strategies can be used any time. To Win the game, do not under estimate competitors. Reading reports and calculation is needed for each round, at least 30 minutes. Long term strategy is the key to win this game. Again, reading all the post can help win half of the game. Because you can get a good vision of what to do in next 8 rounds. Keep track of top competitors,
they will always try to make decisions better than to win the MikesBikes simulation. Log in the game with provided id and password. Think about a nice Name for your Firm (Best Bikes, Flash Bikes, City Bikes, New Tech Bikes, Storm Riders, Mountain Riders, ...) VISION: To be the company having highest market share with best cycling experience to customer empowered by superior technology. MISSION: To be the market leader globally & to provide customer best products and experience. STEP BY STEP FOR ROUND 1TV: 400.000 - 600.000Internet: 300.000 - 450.000Magazine: 500.000 - 750.000 Responsiveness Current Employee: Increase your Employee according to need of your SCU and Production, But not very high because it Increase your Idle Time. Current Plant Size: Increase the plant size up to double in 1- 3 rollover its help in 3-6 rollover for
new segment to increase capacity Batch Size: Increase the Batch size by minimum 200 in every rollover Its control your Idle Time as well as decrease your Expenses. For Round 1 use 400Set Up Time Reduction: It will Decrease the Time Of Setting Up your Plants. For Round 1, use 300.000Supplier Relation: Help You to Reduce to Raw material inventory Stock Out. For Round 1, use 350.000Raw Material In. W. Out: The Inventory Period You Want To hold With you If it
is perfect it increase your production and reduce the Ram material Out and you don't have to pay extra for the Inventory Keep with you, On the Other hand it's vice versa. For Round 1, use 3 Weeks Average Salary: It's not should be too much, just near by 23.000 or increase it by 500 – 1.000 every year. For Round 1 use $26.000Training: it decreases the servicing of you product and increase the quality of your product, It should be average 40. For Round 1 use 45 then increase to 50-55 and keep 60 for later rounds. Preventative maintenance: to reduce the plant crashes and increase production. For Round 1 use 600.000 Quality System Technology: Its increase your Product Quality and useful to increase your sale. For Round 1 use 600.000Inspection: Inspect charges to inspect the quality of your Final product increase the Quality of
your product and you have to pay less for service of the product under warranty for your customers. For Round 1 use 18% You have to decide the Extra support and the Retail margin that you want to give to your Distributors for selling your cycles. Should spend more than your competitor but also not very high because it Decrease you profitability. Bike
Shop: spend for Round 1, use 200.000 and 51%Department Store: for Round 1 spend 500.000 and 36% NOTE, AGAIN: Do not just use suggested numbers Need to look at report and set numbers/decisions better than competitors Estimated results for Round 1Note in advance: This is long term strategy game with 8 rounds. Round 1-2-3 for investment, new products development, promo and sales Therefore, round 1-2-3 will have good sales but low net profit Lead the game all rounds 4-8 with top sales and profit. ------ FREE SUPPORT FOR ROUND 1 AND 2 Email: Blog: mbabikes2012.blogspot.com BSC SHV $ 17 Retail sales $ 43 M Profit after tax $ 3.2 M Cash $ 10 M Wholesales $ 22 M SCU 25.000 (Utilization: 77%) Market summary Leisure not sold yet Adventure sold 19.000 ($ 2200/ 1750) Adventure 38.000 --- 43.000 (+ about 13%) No inventory Leisure 42.000 (+ 7%) Start selling from Round 2 Adventure 19.000 --- 22.000 x 1.0 --- 22.000 SCU Leisure 21.000 --- 26.000 x 0.2 --- 5.000 SCU Total needed: 27.000 SCU --- need about 90 workers Should add 30% 8.000 SCU for next rounds Production Adventure
22.000 - 30.000 x $2.200Ads 480.000 - 360.000 - 600.000 (or increase 50%) Quality 27.000 – 50 – 720K – 720K –19% What are the new decisions available from year 4 of the simulation mikes bikes?What are the new decisions available from Year 4 of the MikesBikes simulation? For each product you must decide on a Sales Forecast (being the number of units you believe you will sell next year) and a Production Quantity decision (being the number of units you need to produce to meet your sales forecast).
What are the new decisions available from year 3 of the MikesBikes simulation group of answer choices?Each simulation year you will be introduced to new decision areas for your company: Year 1 Decisions: Sales and Marketing only. Year 2 New Decisions: The addition of Distribution and Branding. Year 3 New Decisions: The addition of Operations and Finance (debt).
What is the goal of the Mikes Bikes simulation?By using Mikes Bikes simulation, students can fully assess and enhance their business decision-making skills. Students get positioned in virtual bicycle manufacturing companies where they get to make the most effective decisions for the organization at the least cost possible.
What is the main benefit of repurchasing shares in your company mikes bikes?Repurchasing Shares
If your firm has excess cash and no other profitable uses for it, you can choose to repurchase shares. This will reduce the number of shares among which the firm's future profits must be distributed. Selecting the repurchase button allows you to enter a dollar value of shares to repurchase.
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What are the new decisions available from Year 4 of the MikesBikes simulation?
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