Smartsims has expanded its Online presence, and you can now find us on Facebook!

Click the above “Find us on Facebook” Link and make sure you hit “Like” to receive updates, useful links and also hints and tips!

Students:

• Benefit from our Facebook discussion board. Share your experiences and tips with students using our Simulations from around the world.
• Have an idea? Share your comments and ideas and on our Wall. You may just get what you wish for!
• Participate in our monthly opinion Polls.

Instructors:

• Connect with other Instructors using our Simulations from around the world to share experiences and teaching techniques.
• Connect with your students and join in on discussions.
• Share our page with Colleagues who want more info on Simulation-based learning.

Bill Clinton once said, “in today’s knowledge-based economy, what you earn depends on what you learn”[1]. Educational institutions today face the problem of finding alternatives to teaching pure theory or having to use generic business case studies. The established fact is that “students learn more effectively if they are actively involved in the learning process; are given feedback on their performance; and are allowed to repeat and practice so that they can ‘discover’ concepts for themselves”[2].

The use of business simulations brings the real-world closer to students by allowing students to experience management and strategy in-action;experiential learning at it’s best.

Simulation Interaction

Simulations provide students with the opportunity to interact with the different business functions, access real market and financial reports, and use these to make informed decisions with immediate feedback.

Note: Smartsims are the only simulations to offer both a Single-Player (practice) version and an Offline Mode within our Multi-Player (competitive) version. These allow students to trial different strategies, being able to move back and forth through decision periods to view the affect of their decisions on specific functions, and the company as a whole.

Group Interaction

The team element of a simulation allows students to develop the skills required to work effectively in a small management team. They will develop the skills required to formulate strategy, set goals and come to agreement on decisions.

“One must learn by doing the thing, for though you think you know it, you have no certainty until you try” (Sophocles 406 BC)

– Danny Master

References:
1.    Clinton, B. Level 11 Mentoring.
2.    Edmonds, D (1994). Weighing the Pros & Cons of Simulator Training, Computer-Based Training & Computer Testing & Assessment (PC Maritime Ltd).

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.