After last weeks rollover our team was performing well, seeing a rise in our SHV value and a considerable drop in our competitors. As stated in my previous reflection I was wary of these results and left with more questions. Clearly our competitors had spent way too much, this was a result that I feared we could fall victim to as well. During the week due to our healthy cash flow balance and increased confidence we looked to cement ourselves as the dominant player in the market by splashing out a little. However after this week’s rollover, my fears became realized, we had followed in the footsteps of our competitors. However despite this temporary setback, I feel with a few minor changes we can be straight back on top and continue to dominate the market.
The problem we had this week was that we got a little too confident, due to our success in the previous rollover. Despite a loss in profit, we performed exceptionally well in all other areas, and hopefully are looking at a quick fix. Davies & Easterby-Smith (1984) state that experience is the key to the development of managers, with specific types of experience being more effective than others. I feel as though this has applied to our team directly this week, as soon as we saw the rollover result we immediately knew what had gone wrong, and learning from this experience I am confident that our team will be better off from it, leading us to be smarter and thinking our decisions through a lot deeper. In line with the main message of the reading, our team of managers had not dealt with a situation like this previously, and it’s through these new challenges that we will develop new ways of dealing with the issues at hand and therefore developing into more effective managers and a more effective team.
Davies, J., & Easterby-Smith, M. (1984). Learning and developing from managerial work experiences. Journal of Management Studies, 21(2), 169--182. doi:10.1111/j.1467-6486.1984.tb00230.x