Looking closer, coming off better
In previous learning journals the main focus had been on shareholder value and how my team were doing in terms of that. However, this week I feel that a more important aspect of the simulation to reflect upon would be how Galaxy Bicycles managed our business as a team, especially considering that we have more inherent issues facing our business, that in turn are affecting our SHV.
Two weeks ago our team faced a dire situation that resulted in our group needing an emergency equity injection in order to bring our firm out of insolvency. The two weeks following the injection – last week and the rollover just passed – our SHV has increased, but not as much as we had liked or expected. Why is this?
Upon having read the assigned readings for this week and analysing the reports available after the rollover something became apparent – our growth as a company has been decreasing rapidly, however this issue is one that is addressed in ‘Is your growth strategy flying blind?’ The article speaks about looking at your business in a more granular way, meaning to focus deeper into the fractions and to “look at markets and performance under a microscope” (Baghai, Smit and Viguerie, 2009). By doing this we, as a united team, can begin to ask more important questions of ourselves and our business and find where we are missing out on growth opportunities and where we need to cut some current products or endeavours lose.
As marketing manager I have a particular opportunity to assist the growth of Galaxy Bicycles. We need to better fit our customer needs in order to raise demand for our products and win back the market share that we have lost due to past mistakes. Now comes the clean up; reports that previously seemed irrelevant or unclear have revealed themselves to be most valuable, and I find myself thinking that I wish I knew what I know now at the beginning of the course. Last week was the first week that my team asked me to further employ ‘targeted marketing’ by taking into account the graphs and functions and making specific calculations about how to reach the most consumers with the limited money we as a firm have – again, past mistakes are still haunting us.
We have been making good use of reflective learning structures in the past weeks, thinking specifically about what problems face us, and what is occurring, we mainly do this as a group. Perhaps taking a more granular view of the happenings in our firm and the potential markets and choices we can embark upon will have our results more clearly reflect what we would like to see. Usually we have ‘what can we do to improve SHV?’ as our main question each week, but perhaps focusing more specifically on the individual compartments of our business will benefit us more and have our future concrete experiences be even more beneficial to our firm just as Kolb (1976) and Baghai, Smit and Viguerie (2009) suggest.
Baghai, M., Smit, S., & Viguerie, P. (2009). Is your growth strategy flying blind? Harvard Business Review, 87(5), 86---96.
Kolb, D. A. (1976). Management and the learning process. California Management Review, 8(3), 21--31