MikesBikesFINALreport

MikesBikesFINALreport - Team Awesome 2014 Mike's Bike...

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Team Awesome 2014 Mike’s Bike Simulation Final Report The business report for the Bike Manufacturing Simulation containing the financial information gathered and interpreted to formulate decisions made in marketing bike products from 2008 to 2014. Aki Ohtsuka, Celine Hui, Hilton Leung, Vyvy Ta 12/2/2010
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To the Directors of Mike’s Bikes, Team Awesome, founded in 2008, is a corporation headquartered in Waterloo, Ontario, Canada. Team Awesome is devoted to supplying high quality bikes to its retailers and consumers in the market. Throughout our journey in the bike industry, we started off specializing in mountain bikes and eventually, as we gained experience and knowledge in our competitive world, it allowed us to create a more sophisticated business strategy amongst our competitors as we were able to expand beyond mountain bikes and produce road and youth bikes. The central goal throughout our operation was to incur maximum profit as early as possible. However, the key fundamental of this strategy was our attention towards the conservation of cash. During the beginning phases of our business, contrary to our competitors, Team Awesome reserved cash. Our strategy, unlike many other teams, was keeping this reservation of cash to be used for future expenditures on higher grade products. Team Awesome intended to focus on road bikes, a bike with higher margins and lower sales volume, in order to create an extraordinary product and develop a niche market. Due to this focus on road bikes, when the opportunity presented itself in later rollovers, Team Awesome invested heavily in development to create road bikes. Subsequently our original strategy, though reasonable, was ineffective. We did not achieve our goal to obtain the highest level of profit. Nor did Team Awesome have a high shareholder value. Both failures were due to a lack of sales. This lack of sales was directly influenced by our low advertising expenditures in the beginning of our operations. However, further along in our business development the team realized that advertising expenditures were necessary to increase sales, especially with the rate we were going at. While our expected results were not ultimately what we hoped to achieve, sales did increase to a satisfactory level nonetheless. Overall, we have always been dedicated to providing our customers with high quality bikes. The basis of all business decisions were carefully considered through effective marketing, operational, and financial strategies. Although our shareholder value was not the highest amongst our competitors, we
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remained optimistic throughout all six years. Nevertheless, Team Awesome will remain entirely dedicated to enhancing every aspect of our corporation through maintaining high quality bikes with the most affordable and suitable prices for our consumers. Regards,
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MikesBikesFINALreport - Team Awesome 2014 Mike's Bike...

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