report writing

Title page

Name and Id

Table of Contents Introduction: 1 My Experience: 2 1st played at home on 30 March 2018 2 2nd played at KOI Library on 1st April 2018 3 3rd played at home on 2 April 2018 3 4th played at KOI 5 April 2018 4 5th played at home 6 April 2018 4 Important Points Learnt After the Game Play 5 Conclusion: 5

A business simulation application plays a very important role to understand the real business world after studying all theory and lots of accounting calculation. It enables us to apply different strategies the in real world. Mikesbikes is one of them, a virtual world of business. This business simulation contains different segments, advertising expenses, capacity, distribution, debt and equity control etc.

There are two version of Mikesbikes business simulation:

1. Single player and

2. Multiplayer

Mikesbikes Intro single player by Smartsims is helpful to get used to with Mikesbikes Intro multiplayer. Single player gives a similar environment as multiplayer where one can play the game with computer as a competitor which helps to earn a lot of experience that are essential for playing Mikesbikes Intro multiplayer.

I was introduced with the outline of the course and the basics to understand what I am required to do in first 4 weeks. Our mentor Rex Walsh guided us through the simulation software. In the beginning, we are given the generic username and the password for single player account only. I began working on Mike bikes simulation the very same day and launch my business.

For the initial year, I was only allowed to operate the company with mountain bike. I tried entering amounts which were higher than the default price such as $700 with very little change in the PR and advertisement budgets. The result after first rollover was not impressive as the SHV was dropped from $11 to $. After discussing with other students nearby, I understood to focus on advertisements for the first year. I started back again and made decisions that I learnt previously and found the SHV had risen to $.

For the first year, the generic unit price for mountain bike was set at $700 with the forecast of 18000 units for sale. I decided to increase the price with a plan to increase the advertisement and PR. I also increased the production capacity and then I rolled over. Following are the results:

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After studying market research, I made some accurate decision in the year 2. I made the support for mountain bike in 3 channels where I mainly focused on sports store with providing 60 stores and giving them 25% margin over sales. I spent huge amount of money for the branding to increase awareness in the market. Following are the results after the roll over:

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The results were promising if I compare with the previous results. I realized that the rise in awareness and PR paid off well. There were no lost sales and the rise in the market share which was the right direction to go. Spending on branding was crucial for these results.

The decision for the year 2020 was according to the instructions given under the year ahead report and I made sure that I stick to the principles underlined there. I increased the retail price a little bit with more spending on advertisement and PR campaign. The budget for the branding was adequate in my understanding. I raised the budget for the quality sector to keep it up to 80%. I also increased the production to keep the sales and the market share at the rising level as shown in the previous reports. I keep the retail margin to 25% which decreased the expenses. The following results are recorded after the roll over.

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The new product was introduced in the 4th year of the business simulation and the development was done to mountain product. Very clear instructions were provided at the year ahead summary, basically that was the most important information and reasonable help to make adequate strategies and decisions.

I made decision of launching a Road product by looking at my income level. At the launch of the Road product, I decided to increase capacity and spent more money to increase efficiency and quality of the product. I also set the advertisements and PR at the required level as displayed in the market research report. Most of the buyers can be reached by means of magazine; therefore, I spent mostly in PR campaign for Road product.

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The outcome for year 2021 was encouraging and my shareholder value increased to $00. This was possible due to spot on distribution strategy. Sales amount increased incredibly so that market share also increased and there was a significant difference between my results and competitors result.

Moreover, I decided to buy back shares and distribute dividend. I also planned to launch Youth product with the price of $400. I increased the capacity and spent money in efficiency to decrease the amount of wastage. The product for the Youth 25000 and mountain 39000 and Road 10000. I developed the previous products to attract more customers in the market.

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6th played at home 6 April 2018

The result for year 2022 was remarkable as SHV increased compare to last year. I believe this was happened because I have developed the previous product and launch a new product. I tried to buy back all the shares that I could buy that year and paid dividend as well. Buying back share and paying dividend help to increase shareholder value. As my company had enough cash, I had applied the strategies to increase SHV of my company.

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7th played at home 6 April 2018

The outcome for the year 2024 was outstanding. The most important reason behind that was the launching and development of all products. My company sold most of the product in the market and there were no lost sales but there was some closing inventory.

I decided to not develop and launch new product as I launched all the products. I planned not to increase the price and minimize the wastage in the process of production. The product price remained same as previous year.

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8th played at home 6 April 2018

In this final year, I got $250 SHV which is almost highest position in the class ranking. I got really good results in the all sections. Sales increased compare to the competitor. Income statement, balance sheet and cash flow showed the huge difference between I got in the first year and in the last year.

The year 8 of the game was the last year so that I didn’t have make any decision for the next year.

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After spending a great amount of time, I learned five important points which are beneficial for multiplayer group activity. The points are as following:

· Checking the year ahead, market research- market information before taking any decision.

· Building strong awareness for mountain bike by spending more money on Advertisements and Public relation.

· Establishing powerful distribution plan which covers the target market aligned with the market research reports for the given year.

· Maintaining the production capacity to supply the adequate quantity of product.

· Maintain the efficiency level up to the point at which market research suggests. The productive efficiency level can help reduce wastage in the production.

· Increasing product price once market share percentage increase.

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