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It is already Week 9 of the semester and its scaring me a little. This semester has definitely gone by fast. It felt like last week we had our very first roll over, with pretty satisfying results. However this week has been, not so great, results wise. Firstly, our SHV has been decreasing due to the combination of competitors dominating a significant market share and our decisions that we have implemented. Secondly we are making a huge loss in profits. Now this is worrying due to the fact that we are making a high revenue, in comparison to other firms, but our expenditure is huge contributing to the major profit loss. We identified this and thought this may be due to the cost of developing so many products and establishing our high cost strategy or was it because we're spending too much money on specific areas that don't need to be? We had to sit down to evaluate all our decisions, calculating some balance between the numbers and deciphered relationships with the different functions of the company. We came to a conclusion that we had to cut down a lot of cost on advertising for particular products as the amount we were spending was not balancing with the sales.  This has certainly been one of the hardest weeks, as our results keep were getting worse. However after looking at the results generated from last night, resulted in us having mixed emotions. We are out of our money rut however, how SHV decreased significantly. I think next week will be another hard week for us. We need to utilise our time together and actually look at the reports and make fundamental decisions in order for us to better ourselves. 

This leads onto the reading this week which discussed the idea of analytics how it is an important aspect that organisations acquire. Davenport (2006) explores how analytics allows organisations to identify and make crucial business decisions. I agree to this because analytics breaks down specific data in order to see trends that are occurring. Managers are then able to identify improvements and establish what is working successfully. I know for a fact that with the job that I am currently in, I am working a lot of marketing analytics and creating reports from the analytics that are being produced. Looking at analytics and reporting it to executives happens on a weekly basis and because it is done so frequently, it suggest that analytics cannot be underestimated and is an essential tool. 

Without the reports on Mikes Bikes we wouldn't be able to see what we are doing successfully and what we are needing to improve on, and I think from this reading made me appreciate the reports a lot more. Therefore for my worries of us having such a SHV and making a loss, I am going to make use of the reports a lot more as prior to these few weeks, I just skimmed through reports as oppose to actually get a full understanding. Realising what each report meant might make a difference in the decisions I make for the next few rounds. Fingers crossed for the next few weeks. 

Davenport, T. H. (2006). Competing on analyticsHarvard Business Review, 84(1), 98--107.

2 Comments

  1. Hi Mellisa,

    Well done on completing this weeks learning journal. When comparing this journal with the one completed in week 4, again I see that you follow Daudelins theory really well. You provide evidence from your own experiences, which proves that you understand the content within the text. Again you also do a good job at linking this with the Mikes Bikes Simulation. You explain problems faced by your team and then state how the concepts from the readings can be applied to resolves the issues. You have done this particularly well in both this weeks journal as well as the previous one that I reviewed.

    The critique I gave you last time was that you did not expand enough on the actual theory. Again I feel that your analysis of the theory is very limited. While it is good that you have discussed your weekly experiences with your team, It is also important that you reflect and challenge the content discussed within the readings. You do briefly discuss analytics, but I think further analysis of the concept is needed. Despite this, I still enjoyed the journal and thought that your writing style had definitely improved so good work!   

  2. Hi Mellisa,

    I will try to give you more relevant and specific feedback than I did last time!

    I think that you could have followed Daudelins structure better than last time but could still make some improvement in some areas. For example,  You specify a problem in your first paragraph; that your team is not making enough profit, and then say that you think that your team needs to discuss the figures more in order to perform better. However, I do not get an initial sense as to how you are justifying this, especially because you also still say that you think next week will still be tough, rather than suggesting that more group discussion could make future weeks easier and better. I think that if you discussed the experiences in relation to you, rather than your team, and also included some theory in this part, it could be made a lot clearer as to how you are justifying why you think discussion is good for future decision making. 

    When you do bring in the theory later in the journal I believe that you do a good job of describing it, but do not seem to strongly link it to the problem which you identified earlier on. I think with a little more discussion tied in to your own experience, this could make a stronger argument as to why you think analytics are important for your experiences.

    Your conclusion nicely completes Daudelins structure, and it is good to see you acknowledge what you can change for future weeks, showing that you have clearly learnt something which you can apply later on. However, I would say that with a little more analysis and discussion earlier on in this reflection, it would make the conclusions that you reach stronger, and understandable as to how you reached them.