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As I read this weeks assigned reading from the Harvard Business Review "Evolution and revolutions as organizations grow" I started to realize where our Mikes Bikes team went wrong. The reading provided me the knowledge that most events that occur on an annual basis within a business are the result of decisions made in business cycles foregone. The reading provided an example of a small new company choosing a complicated and formalized business structure, out of synch with it's market position. A few business cycles later this caused bankruptcy and the business was acquired by a larger company. After comprehending this under Blooms taxonomy I applied it to our team Mikes Bikes situation. When we started our business we hired far to many employees and invested very heavily in quality. We had high costs starting out and this lead to our eventual decline in profit and shareholder value. Synthesis of this reflection makes me realize that the key to success is keeping costs trim from day one. The reading of this week argued that businesses suffer from decisions made in previous business cycles, my Mikes Bikes experience tells me this is true.
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2 Comments
Phillippa Wood
Your journal started to touch on an interesting point and I think if you had developed this further it would have been a very strong journal. I think it is lacking depth and you could have achieved this if you mentioned a little bit more about how your team entered this problem, what things you could have done differently in hindsight (ie what you would do now if you had to repeat the Mikes Bikes simulation, knowing what you now know from the readings) and also potentially how this learning is relevant to the future. Hope this helps for the summative learning journal!
Tayla Sumner
Hi John, it is good to see that you have used the concepts in the readings to help you get to the problem you have faced this week, however i feel that your journal and learning would benefit if you were to closely follow Daudelin's process.This would have helped you to format your reflection in a way that would have lead to a solution. It is important to reflect on why you decided to invest so heavily in the first place, and what you're going to do next. The lack of depth in your journal indicates that you are at the lower levels of Blooms Taxonomy however i believe that you have the potential to move higher by following Daudelin's process . I hope this hasn't come across too negative! All the best for your summative journal!