Articulation of a problem
This was a great week for the team and I can’t really complain. Although we were pleased with our decisions, a problem I identified was the mistakes I made during the previous rollover that impacted our growth.
Analysis of that problem
Above I am referring to decisions relating to marketing, where I had allocated money in ways that would not benefit our long-term profits. This included investing too much money into PR and not enough into branding. I had a chat with Peter and he actually told me most of our competitors were spending at least $1M more than us in branding, which did not surprise me as I played it safe due to our low capital. I believe that the problem I experienced with over/under spending was facilitated by our decreasing levels of capital available to us.
Formulation and testing of a tentative theory to explain the problem
After reading Greiner’s article (1972) about the stages of evolution and revolution, I believe my performance was lacking in the fourth stage of coordination. This is where systems are put in place to achieve higher levels of coordination to benefit the company, however I made educated guesses into how much to spend in PR and branding specifically. I haven’t really experienced problems like this in other group projects as these decisions were quite different from previous experiences of mine.
Action/deciding whether to act
My errors were easily to modify, which meant this week I recalculated a marketing mix to mitigate risk of our SHV decreasing. My strategy for this rollover was to use all available resources; Peter, the team’s knowledge, SmartSims help and online articles, to spend less on PR and put much more into branding. I believe after reviewing our team’s performance that these alterations helped to bring us up.
Daudelin, M. W. (1996). Learning from experience through reflection. Organizational Dynamics, 24(3), 36-48.
Greiner, L. E. (1972). Evolution and revolution as organizations grow. Harvard Business Review, 50(4), 37–46. Retrieved from http://search.ebscohost.com.ezproxy.auckland.ac.nz/login.aspx?direct=true&db=buh&AN=3866992&site=ehost-live&scope=site