Report on MikeBikes Business Simulation
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Added on 2020-04-21
Report on MikeBikes Business Simulation
Added on 2020-04-21
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Running head: MULTI PLAY REFLECTION REPORTSMulti play reflection ReportsName of StudentName of UniversityAuthor Note
1MULTI PLAY REFLECTION REPORTSExecutive SummaryIn the strong business world, it is necessary tounderstand business in a proper manner. The sensitiveissues that arise in business can be understood bybusiness simulation. This is considered as an effectiveissue to understand business. In order to understandbusiness in the real world, MikeBikes businesssimulation programme can be used effectively. It helpsto understand a product, pricing and marketing in theindustry. It also helps to compare by benchmarking, analyse a market situation, managementaccounting, and financial accounting among other things.
2MULTI PLAY REFLECTION REPORTSTable of contentsExecutive Summary...................................................................................................................1Introduction................................................................................................................................3Strategy......................................................................................................................................3Multi-player experience.............................................................................................................5Summary of the game play......................................................................................................12Important points from the game play.......................................................................................13Conclusion................................................................................................................................14
3MULTI PLAY REFLECTION REPORTSIntroductionIn order to understand the real business world, the role of a business stimulator isimportant. This can be done by studying the theories and accounting calculations. In the realworld, it provides us with an opportunity to apply different strategy and make decisions.Mikebikes is one of the virtual worlds of business. This simulation is made up of segmentssuch as advertising allocation, capacity, and distribution debt equity control and so on.Mikebikes simulation consists of two versions: 1. Single play and 2. Multiplay. Theintro used by Mikebikes using Smartsims is useful for business simulation in order to beaccustomed to real world business. One advantage of the Multi play is the fact that it providesthe similar environment as the real world. This helps to understand business in a simplemanner. StrategyThe Intro of Mikebikes Multi play consists of three segments. These include price,development, and production. Apart from this advertising, PR, capacity, debt and equity alsoform the intro. In order to manage these components, one has to be wise while playing andtaking decisions. The game targets to raise the Shareholder Value (SHV). At the early stage,eligibility remains by playing with advertising. Other areas can be controlled one at a time.We analysed the market research report and found the strategies required for advertising andsetting the price of the products. In the first year, based on the strategy we undertook pocketfriendly price and advertising campaign. This was applied in the magazine and in PR. Inorder to get rid of the loss of sales, we produced mountain bikes. During the second year, weadded the payment of least distribution margin along with the previous strategy. We alsodeveloped our branding to add more awareness. All the debts were cleared during the third
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