It is now week seven, and the results of our last roll-over were themselves: weak. The fundamental problem was that we did not reach our sales targets. Now, in hindsight we appear to have been too ambitious. This has not only limited our ability to make decisions next roll-over, but have caused stagnation in our SHV. To keep this reflection focused, I will just be looking at the fundamental issue of not meeting our sales targets.
So what are the reasons for this miscalculation by me and our team? While attempting to answer this question in the analysis of my issue I will try and avoid becoming ‘defensive’ with my reflection to avoid merely solving this superficial problem, but rather to solve the fundamental cause of problem, taking the ‘double loop’ approach (Synnott, 2013). It appears that to a large extent, our sales targets were in-fact far too high, exemplified by our decision to increase production of one of our product lines by 150 percent. Looking at historical splits of data, we can see this was ambitious, with no team coming anywhere near this in sales in the past roll-overs.
So this was the immediate cause of the problem, but what did I do to cause this, and what did we do as a team to contribute to this? I can honestly say I believe I was enticed by the prospect a significant sales and therefore profit and market share gains that I ignored the plausibility of our goals. Perhaps I and my team figured ‘there will always be elements of risk in MikesBikes and those who dare to take the risks have the best chance at winning.’
I must now ask this question of myself: is it better to make achievable goals and hit them rather than far-reaching goals and potentially miss? Choosing the former has obvious advantages including greater control and lower risk, although rewards may also be lower (as they seem to exist on a paradigm). From now on I will make sure I keep my goals achievable, and make my decisions systematic, deliberate and conscious of plausibility, rather than making them making purely wishful. I think these lessons are things I could take with me into the world of entrepreneurship and business in general if I do indeed take these routes. Obviously this is not a group made up of individual choices, or at least we do not set out to be, and there will have to be a consensus of attitude of what our goals are and how we are realistically going to achieve them.
Synnott, M. (2013). Reflection and double loop learning: The case of HS2. Teaching Public Administration, 31(1), 124--134. doi:10.1177/0144739413479950