The third annual Leaders of Tomorrow (LOT) Business Analysis Competition is now underway. The Business Analysis Competition presents the LOT Mentees an opportunity to run their own MikesBikes-Intro company, and then present this business analysis as part of the 2011 National Case competition in Florida.

The LOT program is a high school mentoring program founded in September 1991 during the 13th Annual National Black MBA Association Conference and Exposition in New York City. This program has helped to expand the overall number of minority leaders in corporate America by providing mentor/leader relationships with business executives and high school students within the community. The Austin Chapter of Leaders of Tomorrow is entering into its fourth year of providing mentoring services to African-American and minority youth.

MikesBikes will be a key tool in expanding the business and financial knowledge of the students involved in the program, and we look forward to being involved in such a worthwhile cause.

We’ve been very busy over December to bring you some anticipated updates across all of our Business simulations.

The most notable update is the release of the online (web-browser based) version of the Single-Player for all our products. This is a complete replication of the Single-Player, with students now able to control their own rollovers (through the Rollover menu), to move forward and back through decision periods at their own pace. Now your Mac users have access to our simulations in their entirety through our website.

MikesBikes-Intro:
The MikesBikes-Intro scenario has been updated to include a 2011 starting year, IFRS compliant reports, and a 10% demand increase in the Mountain Bike segment. We now have online versions for both the Single-Player and Multi-Player. Students will have access to the Online Multi-Player by default through our website. If you course is also using the Windows software, Mac users will need to email us to request their Single-Player access.

MikesBikes-Advanced:
The MikesBikes-Advanced scenario updates include a 2011 starting year, updated Single-Player robot competitor, and the Perceptual Map has been integrated with the Design and Development screen for easy reference. We now have a browser based version for your Mac users for both the Single-Player and Multi-Player. Mac users can email us to request enable their Single-Player access.

Music2Go and AdSim:
Music2Go and Adsim now have 2011 starting years. We now have online versions for both the Single-Player and Multi-Player. Students will have access to the Online Multi-Player by default through our website. If you course is also using the Windows software, Mac users will need to email us to request their Single-Player access.

There are more planned updates for our products in the first half of this year, ready for Fall/Semester 2, with a focus on AdSim and Music2Go.

Nick Hammond will be re-joining the Smartsims Team from the 24th of January 2011 as one of our Account Managers.

A number of you will remember Nick, who was part of the Smartsims Team from mid-2007 through to mid-2009. At that time he departed overseas but we are pleased that Nick has returned to our shores, and is excited to be getting back into Business Simulations.

Nick originally used our MikesBikes-Advanced Simulation through MGMT 301 at the University of Auckland, while completing his Bachelor of Commerce degree. Nick enjoyed MikesBikes so much that he applied for a position here at Smartsims, bringing with him a great commendation from his Professor,Dr Darl Kolb.

– Ian McPherson

Running a Smartsims Business Simulation has never been easier! January 2011 sees our revamped course pages launched and ready for use.

Instructors and Students alike will benefit from simplified and easy to navigate course pages, with all necessary resources at their fingertips.

Updated Student Coursepages

New Student Welcome page
This is the new Welcome page for students. Students are provided with steps on getting started, including our Quickstart guide to get them acquainted with the simulation, a guide to our 24/7 support, and information on launching the simulation.

New Student Product Page
The most substantial change has been to narrowing down access to the simulation to a single webpage. Students can download or launch their company, and access all resources through the single product menu.

Updated Instructor Coursepages

New Administrator Launch Page
Here you can quickly launch the Online Administrator, allowing you to monitor and edit your simulation from any computer with internet access. Highly convenient for smaller courses, and works with all major web-browsers. The Windows software version is still available through this page, which we recommend for larger courses and/or advanced users.

New Instructor Product Page
The Instructor Product Page enables you to access any of your students firms if required, as well as download all of the simulation resources.

Feel free to click on the Contact Us menu on your left if you have any questions.

Smartsims India is pleased to announce SIBO, a nationwide competition for business students.

SIBO is a fun and engaging way to learn more about business and put your skills to the test against other like minded students.

The first round in Jabalpur this week was a great success. Over the two day event the competitors learned to think cross functionally and grapple with all the issues involved in running a business in a competitive marketplace.

The Mumbai round is currently underway. If you are based in India, then head over to the Smartsims India website and get in touch with Pranav and his team to join.

Professor Bob Sproule at the University of Waterloo has used MikesBikes Intro in his Introduction to Business Accounting course for the past 5 years. This class has a number of different sources of marks from the variety of activities. It is a course that introduces students to different subject areas such as marketing, ethics, and human resources.

On the 4th of December the University of Waterloo held a Ceremony for the winners of the MikesBikes-Intro simulation that was used in the FallAFM 131 Course.

Out of 299 teams, Bikes R Us with Nina Zhang, Wasiq Chughtai, Rishi Sritharan & Alex Manoukian were convincing winners posting a Shareholder Value (SHV) of $83.03.

With a successful strategy of producing high quality bikes, paying off debt, repurchasing shares and issuing dividends to their shareholders, Bikes R Us ran away from their competitors.

Bikes R Us increased their Gross Margin each year, which lead to an increase in cash for the Company. The ever growing amount of cash allowed them to implement their strategy of repurchasing shares and issuing dividends to their shareholders.

Congratulations from all of us at Smartsims.

Indore, India: “India owes its success to the power of knowledge” said Dennis Gain, President and Chief Executive Officer of Smartsims Business Simulations. 

Dennis was sharing his experience and industry insights with the students of BM College (India), stating that “knowledge is power, and the key to job placements”. He further said students should plan first, and see that the plan is completed and not left half way.

Originally qualifying as an engineer has helped him to be involved with a wide range of industries. Dennis is also the co-founder and group director of Nara Paz Design International, a boutique fashion design firm that is receiving worldwide acclaim. He said the engineering management and pharmacy students should be aware of the growing requirement for practical knowledge application and communication skills to be successful in today’s economies. He went on to say that India is on track to be a major economic power of the world through the power of knowledge.

Elite Research Managing Director, Pranav Sanghvi, also motivated the students to be successful in their job search. Unmesh Mandloi welcomed Dennis, who was addressing the students of BM College at their premises on Wednesday. Deepti Panda and Kavita Raroliya were responsible for conducting the programme. Sanghvi Institure Managing Director of Corporate Relations Satish Shetty, BM College Pharmacy Principal Dr Vimukta Sharma and BM Technology in-charge Manish Choudhry were also present during the occasion.

Source: Hindustan Times

On Thursday the 1st of April 2010, Steven Gain from Smartsims International hosted a corporate training session for MAHLE Industriesin Novi, Michigan. The training session was part of MAHLE’s Management Development Program in which the finance department used our Strategic Management Simulation, MikesBikes-Advanced.

Ralf Roeske, Senior Director of Finance, chose the MikesBikes Business Simulation as it tied in all of the functional areas of a business, and encouraging a better understanding of how these functions are important in the efficient running of a company as a whole. Through experiential learning, MikesBikesprovides participants with the unique opportunity to evaluate, plan, and implement strategy as they manage their own company.

Participants have full control of their own bicycle manufacturing company and are responsible for the overall strategy of the firm, as well as all the key decision making areas. They compete in team against other teams for control of the market. The competitive nature of MikesBikes makes the simulation so enjoyable.

The day began with an introductory session, followed by two practice decision rounds to get a feel for the simulation. After the practice rounds and a Q&A session, the competition round began with six decision periods which were conducted over the day.

MAHLE are the worldwide leader in automotive parts. They supply an extensive range of high quality components and systems to the best known manufacturers of internal combustion engines throughout the world. In North America, MAHLEhas 22 locations with more than 5,500 employees.

The second corporate training session for the MAHLE Management Development Program is scheduled for the 8th of June, which will again integrate MikesBikes, this time with a group from the Tennessee Filter Systems location.

Overview

Online audio or video tools can be very useful to the modern student. This research paper from the University of Leeds discusses the role and benefit of podcasts to support students using a business simulation.

Abstract:

Audio or video podcasts can be a useful tool to supplement practical exercises such as business simulations. In this paper, we discuss a case study in which different types of podcast were utilised to support the delivery of a course in international business. The students work in groups and run a fictional company using business simulation software, which gives them the opportunity to evaluate their decision making skills. A number of podcasts were used as reusable learning objects for different student cohorts.

Faculty members produced visually enhanced audio podcasts offered tutor discussions of key elements of the computer-assisted business simulation used by the students. The podcasts were made available via the virtual learning environment (Blackboard Vista), as well as for subscription by web browser-based RSS readers, such as Google and downloadable RSS readers, such as iTunes.

Our evaluation of this approach to using podcasts takes into account pedagogic and technical issues. Firstly, faculty members involved in this case study were interviewed to obtain their views and experiences on the process of producing podcasts as well as the suitability of podcasts to support their teaching. Secondly, students were surveyed and interviewed about the value of the podcasts and the way in which they were used.

This work is on-going and initial informal student feedback indicates that the podcasts engaged the students and supported their understanding of the international business module. This paper presents a snapshot of the current findings which generally support the value of this innovative way of using podcasting for learning and teaching.

Full Article: Podcasting to support students using a business simulation