Mikes Bikes :)

MikesBikes is a computer based business simulation system. (Basically, it's a computer game that initiates the real world of business!!!) By interacting in this simulated environment the user can learn:
The standard terms and concepts of strategy, marketing, new product development, operations, finance, economics and accounting
To think of business as an interacting system of these components
To develop strategy for an organisation
To analyse company data using highly visual graphics
To use the Balanced Scorecard and Economic Value Added (EVA) in context
Many key quantitative skills for management Welcome to the MCC MikesBikes Challenge! A new experience brought to you by the Management Consulting Club which will help you gain a deeper understanding of how business works (oh, and also the chance to win $1500 in prize money)MikesBikes is an online business simulation which places YOU in charge of a bicycle manufacturer. YOU make decisions such as what product you make, where you are going to sell it, what market you target. The aim of the game is to enhance the value of the company for your shareholders. Decisions that you make will be very similar to what management do in real life companies. From operations to marketing, finance to strategy YOU decide it all, YOU make the final call.As participants in this Challenge, your team will compete against other teams consisting of YOUR peers in a “world” that defines your market. You will have to look at how competitors are doing, you will have to look at what markets they have entered, you will have to look at how much capacity you have and then make your call. Need more money? Well just issue some debt – but be careful not to take on too much! Think you need to raise capacity? Build a new plant. Too much money spent on TV advertising? Reduce it and spend it on newspaper advertising instead. Whatever the issue, YOU decide what to do. Do it well, do it better than your competitors and you could win $1500!This challenge is fantastic, not only because you get a great insight into how business works, but also the fact that MikesBikes is used as part of the assessment process in NZICA and CPA Australia. Planning to be a chartered accountant? Well participate in MikesBikes and gain a leg up over your peers when it comes to doing MikesBikes for NZICA! MikesBikes is also used in many Management courses, so here is another way for you to gain some invaluable experience with the game in order to better compete in your University courses. Test your managerial skills against all your peers! Find out who’s going to make more money when you get out of uni!That’s an overview of the challenge, here’s the nitty gritty: Rules
Each member of your team MUST be a paid up registered member of MCC.
You have to enter as a team of four (no ifs, no buts – that’s the rule) - with encouragement made to each person responsible for a particular business area (operations, distribution, finance and strategy)
Registrations open Monday 6th August and close on Wednesday 22nd August
The Challenge starts on 27th August and ends on 13th September (3 weeks in duration)
There will be two decision rounds per week, on Monday and Thursday at midnight (i.e. where you make the final call to see how your decisions have affected your company). There will be a total of 6 decision rounds
After each decision round, you will get fantastic instant feedback which will show exactly what you did right and did wrong (trust us, there are a lot of reports which are absolutely invaluable)
MCC is offering a total of $1500 in prize money. 1st prize: $700, 2nd prize: $500 and 3rd prize: $300
The final parameter to judge the 1st, 2nd and 3rd prize winners will be Shareholder Value
Winners will be announced in Week 8

I am joining this competition and it starts right on the 1st day of mid term break. :) No need to prepare early till that day itself when we receive the software. Looks like my holidays will be fun work again. Why I join? Apart from the bold phrase above, I want to try a different competition with a different approach this time. Plus, it is related to my studies as well. It was quite a last minute decision but definitely a good decision. My AMUNC friend told me her team lack of 1 person, all of them are 3rd years and trust me, they are really efficient. I hope we can work as well as this for the competition.:)