BUS 303: Analyzing Application of Smart Sim Business Simulation Report

This report analyzes a student's experience with the Smart Sim business simulation platform, focusing on the application of business strategies and management practices. The student participated in both single-player and multiplayer modes, gaining insights into various business scenarios and decision-making processes. The report details the student's learning journey, including challenges faced, strategies employed, and the skills acquired, such as analytical thinking, communication, teamwork, and decision-making. The student reflects on how the simulation helped develop strategic planning skills and provides examples of how the acquired skills can be applied in real-world business environments. The report concludes with an emphasis on the value of the simulation platform for business students and professionals, highlighting its contribution to experiential learning outcomes.

Running head: APPLICATION OF SMART SIM
Application of smart sim
Name of the student:
Name of the university:
Author note:

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Table of Contents
Introduction:....................................................................................................................................2
Discussion:.......................................................................................................................................2
Findings:..........................................................................................................................................4
Skills gained:...................................................................................................................................5
Conclusion:......................................................................................................................................6

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Introduction:
Smart Sim has about more than 20 years of experience in Business simulation program
where various experts based on educational business simulation provides their expertise to
various professionals, students, as well as business professionals across different countries
throughout the entire world. With the help of their learning platform students as well as
professionals could come up with enhanced experience of knowledge understanding the various
strategies that are used up in businesses while gaining deeper concept on the management of
business platforms. This part of the report is hence prepared so as to describe my learning
experience that I gained from the team of Smart sim Business Simulation Platform while
applying them to real life business platforms.
Discussion:
My real moto to join Smart sim Business simulation program was to gain as much
experience about the different strategies and management practices that are used within business
scenarios in practical world so that I can apply the same to the real-world practices. The entire
platform of Smart sim was based on two types of modes one is the single player and the other is
the Multiplayer mode. As a beginner I first chose the single player mode which was quite
challenging for me as I was completely new to the platform and was facing difficulty on how to
manage the different modules that were assigned within the mode. However, the Smart sim
business simulation platform consisted of several videos that helped me throughout the program.
After completion of the Single player account, I was moved on to the multiplayer account where
it consisted of several rollover stages. During the first rollover stage, we set the price to about
$745 so as to maximize our expected margin with respect to other groups. At the end of the 1st

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rollover, our class ranking was #10 and the overall result was satisfactory where we achieved an
overall world ranking of 2 although there was a $0.01 difference from the Eagle Bike which
ranked the 3rd place. The profit of our group was the highest in the world. However, we were able
to identify some of the weaknesses from the first rollover that we tried to improve within our 2nd
roll over. During the second rollover, we gained ranking of 14 and a world rank of 3where our
SHV got decreased from $12.72 to $12.4. We identified few areas that needed further
improvement for the next year and aimed at increasing our PR index in the 3rrd roll over phase.
We took strategic decision of reducing the price from $735 to $713 which was the lowest in the
market and consecutively increased the PR to $800.000 so as to gain the highest share in the
market. At the end of this rollover, we gained a class ranking of 12 and a world ranking of 3
while achieving the highest PAT and minimizing our overall expenses so as to increase the SHV
to $15.35. However, adopting this strategy, we still failed in achieving the aimed market share.
Like this we adopted several market strategies to improve our business market share in each of
the rollovers and finally within the 8th rollover, we gained the 1st position in the world 2 and the
8th position in the overall class ranking while achieving the highest profit within the market
which was about $13, 935, 099. Our prediction was quite accurate within the adopted strategy
and was estimated around 98% setting a benchmark within the industry.

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Findings:
Mikes Bike is an interactive business simulation platform that helped me developing my
business skills that I can apply in real world practices. According to me, the Smart sim Business
simulation platform provided the best ever opportunity to business individuals as well as students
to build their strategic planning skills while taking help of their simulated platform. While I was
playing the single player mode account within the simulated platform I faced only one
competitors and that too was the computerized player who assisted me on various ways the game
can be played which I applied on to the Multiplayer mode account where I faced more than one
competitors struggling for achieving the highest market share within the business. The different
rollover stages allowed me to understand the various factors that needs to be kept in mind before
taking decisions within the business. There were several instances where me along with my team
identified the improvement areas and applied them to the next rollover stages which gradually
helped us in gaining the first position within the world rank.
Skills gained:
The entire simulation program of Smart sim helped me in gaining various skills that are
very much important for planning out any business strategy in practical world. Among that the
first and foremost skill that I gained is the Analytical skill. Without this skill it would not be
possible to achieve the better rank. It enabled me in identifying the difference between the
variables and how they affect in particular indexes. For example, it helped me achieving a better
PR index through continuous trial and error method. Gaining this skill will be helpful for the
accountants as in practical world it would be helpful in gaining information about the financial
statements. The overall simulation program also helped me to critically analyze my own

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performance that enabled me to determine the areas that I am good enough and also the areas
where I need to brush up my self so that I can apply them in real world business field in future.
The overall Smart sim simulation program was very much innovative.
Another skill that was learned from the simulation program was the communication skill.
Within the overall gaming platform of Smart sim, communication was an important part. In spite
of having team members from different cultural backgrounds, I adopted a better skill on how to
communicate effectively with group members. Within the game, I had to communicate with my
group members while making important decisions on changing of approaches on strategies while
seeking each other’s help in conveying and explaining ideas to improve our performances in the
next rollover stages. Gradually our communication skill started getting better and smoother as we
moved on within the simulation platform. Another important thing that I learned from the
simulation program of Smart sim is that maintaining the proper attitude so as to understand the
team members while working along with them. Team work is another aspect that Smart sim
business simulation platform taught me through the entire program.
Decision making skill is another most important skill that I gained from the business
simulation platform. Making the right decision during right point of time is important for any
business success. Being within a team, we had several ideas and views about which approach to
be chosen so as to get the maximum market share in each of the roll out stages, but taking the
best decision is the most challenging area in this case. Within each of the rollover phases,
decisions were made based on the predictions about how much we should spend on the PR, what
should be the index targets and many more. The overall simulation program thus provided the
basic skill of decision making that can be applied in practical field of business environment.

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Finally, one of the main things I've learnt from this game is to know from one another. I
am so thankful that I have been able to work with so many talented students I can learn from.
Some students helped me build the Web sites, for instance, while the other classmates showed
me several video software. Also, with many other classmates from distinct worlds I shared my
ideas on the game. There are important and unlimited benefits to learning from each other.
Sometimes working on your own can be effective, as arguments or disputes would occur when
making choices, but working with other individuals and learning from each other’s certainly
enabled me to realize things which I would not have come to terms with if I had not shared
thoughts. I'm so happy that I was given a number of skills and ideas from the subject and the
game that I'm sure my assets in my future career.
Conclusion:
In conclusion, I would say that the overall Smart sim business simulation platform helped
me to learn about the different methods by which the financial planning is done within business
while adopting suitable management strategies so as to provide holistic solutions to all types of
business problems. The Smart sim business simulation platform related to bike business helped
me in gaining skills in various aspects which I can now apply in real world field. The platform is
by far the best ever learning platform that enables students as well as professionals to gain
confidence in business environment providing a vast knowledge of experiential learning
outcomes that they can apply to real world business platforms.