This week is an interesting, memorable and of course, a challenging week. The lectures and readings of this week enabled me to understand the true meaning of a team and the importance of the team performance for the entire business. The reason why this week was also a challenging week was because of the Solo Mikebikes, I had to increase my company's SHV (Shareholder value) above $25 and this was not an easy task. During the game, I almost used the knowledge from all the commerce paper that I have learnt since Year 1 and apply them to the solo Mikesbikes. I was really stress because I had to read the enormous amount of figures and statements to make the right decisions, and every single decision and change that I made can influence the entire company's outcome. There were rumours around and people said that if I didn't make the SHV above $25, I would be withdrawn from this course. The rumours, low SHV, poor company's performance and stress made me feel hopeless on Wednesday night. However, I don't want to leave this class because I have the strong enthusiasm in Management 300. This course gives me the chance to experience the real life business operation and enables me to have the clearer understanding of management. Management 300 is an useful and important course for my future career development because this course enables me to apply the theories to the real life, to think deeply, smartly and independently, to figure out how to work collaboratively with the others and form the honest friendship with the others in the team and to force myself to become a brave and decisive man. These reasons motivated me to keep working hard on Mikesbikes and to think and figure out various of methods in order to increase my SHV. Thanks to my friends's guidances and my own diligent efforts, my SHV finally reached to $37. Now, I do feel the Solo Mikesbikes game was an interesting experience because I have been an accountant, market strategiest, HR, operational development advisor and CEO in just two days. However, the most valuable thing I learned from this game was that- Failure is not the ending and it is not scary. Failure is the source of learning and improvement, it is a valuable teacher in my life that teaches me how to reflect and fix my mistakes in order to achieve the dreamed goal.
Another important part of week 2 is the understanding of the meanings and importances of the team. Team performance is very important for the business development because the high-standard team performance can helps the company to solve various of problems and brings the innovative decisions to the company. According to the Reading "Why Teams Matter", Team is a small number of people with complementary skills who are committed to the common purpose and they hold themselves mutually accountable. The four key characteristics of team are small number of people, complementary skill, common purpose and common working approach. It is important for a team to have a small number of people who have the complementary skills, people have different characteristics and we have been gifted differently, therefore it is imporant to use our specialties to help the others in order to achieve the mutual benefits. After the Solo Mikesbikes game, I have learnt that complementary skill is too important for a team. It is impossible, or very difficult for a single person to be an accountant, CEO and HR at the same time and the person might exhausted in the long term. I study economics and management and I have poor knowledge in the areas of finance and accounting, this is why I did not make much changes on the financial area of the firm because I could not ensure my financial strategy was correct. This is why a business needs the experts from different areas of knowledge in order to contribute their specialties to the firm. During the lecture on Tuesday, Peter said that diversity of people in a team is great but the people in the team must have the common goal. This is so true because if the team members have the different expectations, then there will be poor team performance. Motorola gives us the great example of the effective team performance, the company has established the common agreed business ethics and designed the clear goal, these efforts were highly important for Motorola's success. Another important factor of the successful team performance is the common working approach, people in the team should do same amount of works and always ensure we have completed our tasks correctly. However, focusing on individual performance and ignoring the other people are not the characteristics of team. It is important for us to be thoughtful and willing to help the others, be able to interpret, support and summarize the teammates' works. These can brings the mutual accountability and trust to the team. Unfortunately, I had a sad experience in team work during Management 309, people in the team had different goals, some of us were aiming for the A grade whereas the others were just aiming for pass. Therefore, we had the different amount of works, me and my friends have done most of the researches and works and all the burden were fell on out shoulders. This experience made me extremely angry because it was so unfair, but the most annoyed thing was that overall team achievement was important for the individual's final grade and I frequently felt that those lazy team members have hindered our own performance.
My expectation for the Mgmt 300 team is a High Performance Team. We can not aggreagate our skills together but need to multiply the individual impact by the collective work product. We can't just focus on our own individual goal, but need to beware of the overall performance of the team, be thoughtful to the others.