My experience with the MikesBikes simulation this week was a series of high’s and low’s. Having overcome my dread of the importance of doing the readings before tackling MikesBikes I was ready to give the simulation a go. I practiced for a few hours and managed to get my shareholder value (SHV) to increase slightly. However I found that I was simply adjusting the values of various components and watching its effect take place. This made me question whether I was on the right track. Eventually I got the hang of some of the basic changes one could make such as adjusting planned production, advertising costs and introducing new products. After trialling the simulation I had to sit down and start an actual simulation for the CV. A couple of hours into this I found myself getting frustrated as my SHV started to drop. I was forced to restart the game a number of times. Eventually on my third try I managed to get my SHV just above the $25 mark. However one problem I still face with the simulation is how to modify a product to meet market conditions once it had been in the market for a while. This was something I struggled with and found myself abandoning that product as because it did not meet the markets requirements, it was losing sales.
This week we got placed into our teams. In filling out the CV for this I was conflicted with my answers for some questions. For example for the question on what kind of team would you like to be a part of, I was torn between the options ‘considerate of others’ or ‘learning focused’. I hoped that picking ‘considerate of others’ would not mean that I did not want a team that was ‘learning focused’. Team work is no new concept to me and it is something I quite enjoy. I believe that collaborating with others generates some of the best ideas. Katzenbach and Smith (1992) define teams as, “…a small number of people with complementary skills who are committed to a common purpose, performance goals and approach for which they hold themselves mutually accountable.” In looking at this definition, it describes everything I hope my team will be. Although it is too soon to tell, I am looking forward to working alongside others for this course and it will be interesting to see how much of this definition matches the characteristics of my own team over the next couple of weeks. My only concern regarding teams is my ability to run the MikesBikes simulation. I feel that my SHV may not portray me as a strong team member. However I intend to work very hard and ensure I try my best at the simulation. I am hoping that with enough practice I can master my role in the team and generate positive results. I am both nervous and excited for the coming weeks and I look forward to seeing how my team approaches the simulation and how we do as a team.
Katzenbach, J. R. & Smith, D. K. (1992). Why teams matter. McKinsey Quarterly, (3), 3--27.