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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!

 

References:

Hammond, J. S., Keeney, R. L., & Raiffa, H. (1998). The hidden traps in decision making. Harvard Business Review, 76(5), 47+.

Retrieved from https://link-gale-com.ezproxy.auckland.ac.nz/apps/doc/A21114518/AONE?u=learn&sid=AONE&xid=a9c18574

5 Comments

  1. Please tag your learning journals with the appropriate labels. If you're not sure how to do that, here's a short video.

  2. Hi Junqi, 

    First of all... Well done with your progress but i believe that you need to state in detail what exactly was your objective? i.e. What was your expectations? What 'major decisions' needed looking? and What did you spend the most time on that led you to improving your results? This was fairly basic and broadly discussed so i think it would benefit you if you go over this in detail. 

    I liked reading your journal but i think that there is still way more that you just touched on and it would benefit you to explain more in detail about it but overall, a nice attempt. You might consider focusing more on one specific issue and talking about that by breaking down exactly what you did, when you did it and how you did it that led to a progress or decline. 

    Have a good week ahead!


  3. Hey junqi, 

    I think you would benefit from using Daudelins model for reflective journals, as the four-paragraph layout will help you to look back on your journal at a later date and know exactly what your learning was this week and how you tried to put in place a plan for the coming weeks. 

    I agree with above that you should go into more depth on some of the issues you touched on. 

    1. I think you would benefit from using Daudelins model for reflective journals, as the four-paragraph layout will help you to look back on your journal at a later date and know exactly what your learning was this week and how you tried to put in place a plan for the coming weeks. 


      Just like you do (smile)

      Theo Walsh, I'm thinking you're probably going to be okay when it comes time to do your summative learning journal.

  4. You say, "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" but there is no meaningful analysis to support such a hypothesis. Make your analysis explicit, otherwise it sounds like you are just citing Hammond et al., because you wanted to, rather than because it addressed a real problem you were facing.