Our first official rollover of the semester showed a great jump and put our team close to the top of the leader board. However as rollovers went on, we have dropped from being at the top, to being just below average, and now sitting near the bottom.
Considering the amount of time our team spends looking at reports, analysing the differences in our strategies in comparison to other teams, determining the strengths and weaknesses we have demonstrated in our companies performance and overall the in-depth analysis we carry out, I find it shocking that we keep dropping. We are obviously carrying out some decisions correctly as within our world we sell the most the bikes for some of our products and generate the most revenue, however it is obvious to see where we are going wrong as well. At this point in time I believe we are over-reaching to compensate for the position we are in. I feel this is because we are potentially sticking to a strategy that is no longer applicable and also becoming so invested in the details we’re forgetting the overall picture. For example, one of our key issues from the previous rollover was that we over-spent a vast amount of money in all areas and also were undercut in our market so in the end our bikes did not end up selling as exceptionally as predicted, this left us with a large amount of held stock.
I believe the strategy we have been following thus far has been more geared towards single-loop learning (Argyris, 1991; Synott, 2013). We define the issue, redefine our methods to fix this, but stick to the same underlying strategy. At this point in the competition (and considering the position we are in on the leader board) I believe we should begin making the change towards double-loop learning. Addressing the necessary changes required to our overall strategy. Argyris notes that in order to engage in the correct methods of learning, a greater depth of reflection is necessary. The reading goes on to say that when individual reflection is carried out in single loop learning, the immediate reaction is to be defensive, pass blame on to others, and are oblivious to criticism. Thankfully within our team we have a good level of cohesion to not blame others, which aids in the current situation we are in as we are supportive to getting ourselves out of this ditch. This supportive environment will help us to create a new strategy without getting burdened by the fine details and more about the ultimate goal (at least at this stage) to become financially healthy again.
In the coming week we will need to sit down, go back to the reports and consider a brand new strategy, focusing less on competing with others, and more about getting ourselves back to a financially sustainable point. It's entirely possible and I have complete faith in my team. We just need to go back to basics and work our way back.
Argyris, C. (1991). Teaching smart people how to learn. Reflections, 4(2), 4--15
Synnott, M. (2013). Reflection and double loop learning: The case of HS2. Teaching Public Administration, 31(1), 124--134. doi:10.1177/0144739413479950