The Mikes Bikes Simulation was a task completed by a group of students. Our goal is to advance our fictitious bike company by creating effective business strategies to inevitably increase shareholder value. A crucial part was to reflect and apply the course topics to help better our standing against the other competing groups. Through this experience, I was able to develop a range of interpersonal skills such as leadership, active listening, motivation and respect. Leadership is an important quality to understand and commit to during a teamwork exercise. This role was shared amongst our group for different areas of the task. I took on this role in terms of the group presentation. Whilst our group had grown more comfortable with each other, a collaborative piece of writing was a new concept compared to the previous weeks. Together we had discussed ideas and made decisions for our company, but there had been no progress in the written component. To help better the group, I…show more content… The first concept applied is business strategies and plans. As a team, we employ several strategies. We applied this concept by ensuring an overview of the industry was kept in sight. As a company, our company's movements are essential to our decision-making. In the first week, our price was kept low compared to the other groups. The second course concept applied was the marketing plan. Although the simulation only allowed for the financial side of marketing, it was still a very significant element for our group. We understand the importance of a good marketing plan, and a large portion of our profits are utilised for marketing. The final course concept we applied was strategies for growth and distribution. Once product expansion was permitted in the simulation, our group decided upon the Kids Bike as we thought the other companies would be trying to stir away from what everyone else was doing, potentially making our Kids Bike stand
