This week has been a very intense week. As the end of the term draws near, assignments start to pile up and the hours in my day seem to quickly diminish. One of the issue we had this week was that the team had a poor result last rollover and everything looked like it might be falling apart. This meant a our performance was dropping and a constant progression seemed to have slowed. As a result I looked back through previous learning journals for some inspiration on how I could resolve these issues. One of the journals I looked back upon was based around the idea of trusting my gut. This is relevant to my current situation in mikes bikes. In my team my role is R&D. Up until this point we have been somewhat conservative with our decision-making, we made decisions purely based on logic. This will I will take advice from my previous journal and break free of my conservative decisions and hopefully get some momentum back in the team. The reason I feel confident in doing this now is that I am at a stage where I have a feel for the patterns emerging within mikes bike. As described in my previous journal, pattern recognition can have an influence on intuition. So hopefully trusting my gut will pay off.
This weeks reading in one that I felt I could relate to in a range of ways. This is something that has a lot of cross over into other areas of my study particularly marketing.
One aspect of this reading I felt most interesting was the increased ability to focus on small niche markets. The article suggests that as a result of technological improvements businesses can get a stronger understanding of the market. Many companies can now deal with market segments which would have previously been considered to narrow to deal with. There are many factors influencing this such as the ability to target a nation or even wide customer base through distribution channels such as websites.
Although I generally agree with most of the claims made in this reading. I feel some of the claims are quite broad. “Far better growth strategies” was one of these. I felt this ignored a range of other important factors and downplays a lot of other relevant elements which must build strategy. It also ignores the what can happen with a business that has too much focus on the data at hand and ignoring the wider forces at play. It also makes many assumptions about the quality of information available to the organization. Many companies have fallen to misleading or imperfect information used for decisions.