The [MikesBikes] business simulation does a superb job of teaching students to link concepts with experience and motivating them toward their future studies in business.
COLBY, A., EHRLICH, T., SULLIVAN, W. & DOLLE, J. (2011) RETHINKING UNDERGRADUATE BUSINESS EDUCATION: LIBERAL LEARNING FOR THE PROFESSION
Rethinking Undergraduate Business Education: Liberal Learning for the Profession Textbook
What the book covers: Business is the largest undergraduate major in the United States and still growing. This reality, along with the immense power of the business sector and its significance for national and global well-being, makes quality education critical not only for the students themselves but also for the public good.
The Carnegie Foundation for the Advancement of Teaching’s national study of undergraduate business education found that most undergraduate programs are too narrow, failing to challenge students to question assumptions, think creatively, or understand the place of business in larger institutional contexts. Rethinking Undergraduate Business Education examines these limitations and describes the efforts of a diverse set of institutions to address them by integrating the best elements of liberal arts learning with business curriculum to help students develop wise, ethically grounded professional judgment. (Google Books)
MikesBikes at Santa Clara University
The textbook covered MikesBikes in Chapter 3 on “The Challenges of Undergraduate Business Education.” They interviewed a Santa Clara University instructor on how MikesBikes is currently used in the Contemporary American Business Course – a course that is required for all entering business majors at the Leavy School of Business.
MikesBikes in Contemporary American Business Course
[MikesBikes] provides a “liberal arts” experience in that it gives the “broad exposure” that is the aim of a survey course. And certainly we were impressed with students’ level of engagement, intellectual energy, and seriousness – qualities one wants to see in all aspects of a college education.
INSTRUCTOR FROM SANTA CLARA UNIVERSITY
Santa Clara University has been using MikesBikes for many years now. The course is designed to provide an overview of business as a field.
The course includes standard classroom presentations, multiple choice examinations and one-third of the students final grade is dependent on their performance in the MikesBikes simulation. They run the simulation for the whole semester.
The first half of the semester allows the students to get familiar with the simulation and concepts through the Single-Player, practice phase. In the second half, they work in teams and compete against other teams in the course to achieve the highest Shareholder Value.
In MikesBikes, students are given an opportunity to work in marketing, production, product development, finance and accounting. Each member of the team are responsible in making decisions in these functions, allowing them to develop and make complex strategic decisions.
The course through the use of the MikesBikes business simulation provides students with an experiential learning environment, allowing them to take on realistic roles in a manufacturing bike company. They learn how to think critically and coordinate a management strategy. They experience the highs and lows of running a business, the excitement and risks all in a fun, and safe learning environment. In addition, working in teams allow them to learn about the importance of trustworthiness and integrity.
Reference: Colby, A., Ehrlich, T., Sullivan, W. & Dolle, J. (2011) Rethinking Undergraduate Business Education: Liberal Learning for the Profession, Stanford, CA: Wiley.
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