After a weary few weeks where my team experienced a downfall in SHV, we have successfully risen back up. We enjoyed the highest market share and revenue this week and it is great to reap the rewards of our efforts, and even better to see such a recovery (particularly with our grades in the back of our minds). However getting to this point I am left reflecting on how we managed to get back up, while also wondering how successful we would have been had we never made the mistakes we did to fall down in the first place.
Greiner (1972) outlines that an organisations future is dependent on its history and this struck a chord with me. Considering all that our team (and organisation) has experienced, in the long-run this will all be beneficial. Knowing what it feels like to do terribly is just as important as understanding what it takes to do well. If we were to have been consistently on top, then I feel we would become comfortable and complacent - and when the (somewhat inevitable) downfall arises, we would not be as well equipped to deal with it.
A note that rose from readings of week 5 with me was that described as 'blue ocean' strategies (Kim et. al, 2004). These are completely new markets with no competitors, and are very lucrative. This applied particularly well to my team for a few reasons. We were the only team that produced more than one particular bike for the market. For example we had two different racers, selling at different prices and qualities, which meant that we were able to capitalise on a greater market share. Producing only one bike limits an organisation to a single line of customers. In this way we increased our market share, but also had to balance the costs of this move effectively. This is not necessarily creating a new market, but instead recognising the existence of a market and capitalising on this.
In the end, it has been an interesting, and surprisingly helpful experience in writing these journals for the past ten weeks. It has also been a benefit to read other journals, and gain some insight into the journeys that others are enduring at the same time. With the final rollover looming, all fingers are crossed that we can keep on moving onwards and upwards.
Greiner, L. E. (1972). Evolution and revolution as organizations grow. Harvard Business Review, 50(4), 37–46
Kim, W. C. & Mauborgne, R. (2004). Blue ocean strategy. Harvard Business Review, 82(10), 75--84
Magretta, J. (2002). Why business models matter. Harvard Business Review, 80(5), 86--92