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This weeks decisions required alot of time consuming research to help make an educated choice. This including sifting through data and the players manual for information related to boosting quality. This weeks readings were a perfect match for this. The main issue for me was the time that was needed to look microscopically at the data. 

According to Baghai, Smit, & Viguerie (2009), there is alot of untapped potential in data. This leads to growth and also separation from competition (Baghai et al, 2009) by potentially unlocking a competitive advantage and also the need for change. The results from companies who have taken this granular approach are successful, with overall growth rates increasing (Baghai et al, 2009). So the benefits are obvious, by analyzes small chunks of data a clearer picture is made so that the need for change is specific to each area, essentially saving money. Baghai et al (2009), also outlined how technology plays a huge role in allowing this to happen. However, this all seems extremely time consuming. Sometimes strategic planning can lead to information overload so quite often analysis is avoided by executives when making critical decisions (Mankins & Stelle, 2006). This comes from the week four reading about making decisions rather than wasting time on plans. I can understand how these executives are pressed for time, much like all of us at the moment, so critical decisions can be rushed. I was extremely conscious of how much time I was spending trying to find information to help me come to a conclusion, but it was necessary. Thank-fully technology allowed me to quickly find all relevant information without having to scroll through small mountains of data. The benefits of pulling everything apart could potentially out weight the time spent of analysis.

While reading it was clear the how time consuming this approach can be, so I was somewhat hesitant towards accepting this idea. However as I read on I saw that the MRI approach actually saves time (Baghai, 2009). Issues are easily and immediately highlighted and also discussion when making decisions can be more focused instead of wasting time talking about unnecessary data. Therefore the conclusion that I can come to is that yes, it saves time but only if done correctly and efficiently. It is also sometimes necessary to provide deeper insights and understanding of underlying issues. For production, the reports help us see what needs to be focused on so now I will analyse these problems more to come to a better decision. 

 

Mankins, M. C. & Steele, R. (2006). Stop making plans start making decisionsHarvard Business Review, 84(1), 76--84

Baghai, M., Smit, S., & Viguerie, P. (2009). Is your growth strategy flying blind? Harvard Business Review, 87(5), 86---96.

 

1 Comment

  1. Hi Kimberley, it's great to see that you took on board previous feedback, and furthered your analysis of your problem for the week. I would recommend elaborating on what you have learnt to avoid it becoming a descriptive journal. You have begun to describe that you learnt the importance of looking microscopically but could have further delved into how this learning with aid you going forward. Perhaps you could put this into context by explaining more about how you think the reports will help decision making or even apply it to life after uni to create depth. You also mentioned that it is important to provide deeper insights - how may you do so, or how could you use this learning to aid your future roll-overs. You were able to really engage with the readings and used them effectively in your analysis which is awesome.  

    Overall a good journal and hopefully these ideas will help you for the summative journal. All the best (smile)