By the prudent analyzation and careful decision-making process last week’s first rollover, our group’s result was lower than our expectation as we did quite a great job in the practice rounds. We became nervous and feel like be bounded by the seriousness brought by when everything became true, and we just follow the normal steps and did not really make any big move or decision as being afraid of losing our competencies in the future. This week, we examined the problems we were facing and came up with solutions to each of them together. Our results did increase which was better than last week.
During our practice on managing MikeBikes, I found that there might be obstacles about our perceptions on dealing with immediate problems rather than thinking about long-term business strategy and direction. We should also pay careful attention to the long-term plan by always reviewing a problem from different perspectives and be open-minded (Hammond, Keeney & Raiffa, 1998). Focusing on short term goals gives accumulative results to achieve the big goal by specific and immediate actions. However, MikeBikes involves the action of forecasting, although the market index, sales and human resources often came up with uncertainty and we cannot predict comprehensively, it is still essential to spend more time on constructing any long-term decision by taking the results of our immediate actions into account.
Overlooking the long-term goal can influence the way we make decisions when we confronted with short-term and market uncertainties. Thus, what I have learned through having reflected on our group problem is that viewing the business plan in a more comprehensive perspective might make the results of decision making better. Hopefully, our group could improve the overall results by this!
Hammond, J. S., Keeney, R. L., & Raiffa, H. (1998). The hidden traps in decision making. Harvard Business Review, 76(5), 47+.
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