This week our team has probably faced its ‘worst’ rollover so far, by worst I mean we’re still doing great but profit was lower than it ever was. I take comfort in the fact however that it might have been a worldwide event as the other big players in our world saw a drop in profit. However I feel as though our business is losing its grip in the market. This made me think about what I could have done better to help our business perform better. Therefore this week I will reflect on things I could improve on to help our decision making and our direction.
This week’s readings coincidently focussed on how some companies can get lost in the big picture when it comes to performance and tapping into revenue (Baghai, Smit & Viguerie, 2009). Without giving away details about our strategy, our team seems to talking about a particular strategy yet not totally implementing it. This I feel led to our drop in profit this rollover as we had prepared for one strategy but didn’t implement it fully. In saying this however I realise that the market did change and our competitors changed strategy, so I do not blame our team, it was simply a matter of not analysing the possibilities thoroughly. I think in the future our team should analyse our decisions more thoroughly instead of simply making snap decisions for certain things.
In conclusion I believe I have seen that our sometimes hasty and un-thought-out decision making habits needs to change if we are to grow further. It will be interesting to see if my teammates have seen what I’ve seen.
Baghai, M., Smit, S., & Viguerie, P. (2009). Is your growth strategy flying blind? Harvard Business Review, 87(5), 86---96.