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This week’s learning journal is based on the concept of learning and developing from ‘managerial work experiences’ as mentioned in Davies and Easterby-Smith (1984). This concept consists of the key idea that experience is the key aspect to the development of managers; however, some kinds of experiences provide more effective development than others. So the problem that I have identified for this week is that did I develop as a student in my experience as a CFO in Mike’s Bikes?

When analysing this question, I have found that the only way to determine if I have in fact developed as a student in my experience as a CFO in Mike’s Bikes is to compare what I knew about being a CFO beforehand and what I know now. When I started Mike’s Bikes as a CFO, I had no clue of how any of the financials lead to a higher shareholder value. I attempted to look through various academic articles on not only how the financial decisions in mikes bikes affect the shareholder value, but also the various CFO journals from previous semesters, and how in the real world, the CFO’s decisions impact upon the shareholder value. From this research I found that the role of the CFO is not to strategically forecast the future but merely take the forecasting from all the other executives, such as the amount wanting to spend on advertising, in combination with the expected sales from both marketing and operations executives and reviewing the feasibility of such decisions. Regardless of these findings, the only way I have come to terms with this is via the practical and novel of experience that is provided by the Mike’s Bikes simulation, hence I believe I developed as a student by being placed in an extremely challenging role and attempting to live up to the expectations placed on the position (Davies & Easterby-Smith, 1984).

My testing of my development of knowledge of being a CFO has been through the various decisions I have made for each roll over, with regards to how much each executive is able to spend. From this I have learnt that being conservative on spending, unless the decision is largely justified, is the best way to approach money allocation. From this week, our company’s shareholder value dropped significantly. I believe this to be due to my lack of conservativeness when allocating funds, I believe that I was much more inclined to spending a lot more than usual as the previous roll over, we gained a significant increase in cash on hand. From this experience, I have developed as a CFO, as I have now learned [the hard way] from experience that conservative spending is the best option. For next week’s roll over I am going to implement my idea that I will be much more conservative on spending to determine whether my previous learning and my hypothesis is indeed correct.

 

References:

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

2 Comments

  1. Hi Timothy

    A very structured journal that adheres strictly to Daudelin's framework. You clearly articulated the issue of knowing whether or not you have positively developed over the course of the simulation in your CFO role. It was good that you chose a particularly topical issue in which you can draw from the readings heavily. As you looked into the problem further you talked about your process and the steps you took to further your understanding of how to perform your role and how it changed over time. It's good to see that you found this situation challenging as well as being able to learn from "practical and novel of experience", a key driver of development in the readings. You successful concluded your journal with your belief that you have developed and how you have gained a nugget of wisdom around your role, a nice concrete point to finish with. 

    Overall this was a very well written journal entry that fulfills all of the expected criteria for our reflections. What I challenge you to do now is to better your entries by exploring the more emotional side of the issue. Things like conflicting evidence of progress, your point of view of how to better develop in the future, things you don't full understand yet and what influence this experience will have on your future methods of thinking etc. This will give you what you need to progress to the higher levels of Blooms taxonomy and achieve an A grade. 

    Good luck.

  2. I some what agree with Reuben's structure but found some ideas conflicting within your journal. Firstly I am also a CFO, and I honestly have no problems with your strategies or what you do, I am merely showing that I have understanding of your position and the impact of your decisions on the team and the simulation results. Firstly try to bring your problem in from the start, it was some what confusing finding the problem nearing the end of your journal which made your development in the learning process relatively short. Secondly you have only identified one potential solution to the one problem you identified, could there be more that you could come up with that could focus in on the fundamental problem. Lastly just from a CFO position I might suggest that being conservative could either benefit or detriment your performance. Your cash should be seen as an investment; there should be more focus on the allocation of these cash injections rather than limiting the amount of cash being injected. It is through these processes that you will create actionable outcomes you could learn greatly from and develop Blooms taxonomy of higher learning, not merely being conservative.