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This week, I found that coming up with all the required changes for our first actual roll over to be much more difficult than the practice ones.  The training wheels have come off, there is no more offline mode to use, and all decisions are final.  It is a little scary, but at the same time my team is being more cautious with the decisions we make.  We have developed a strategy that seems to fit us well.  We may have our heads in the clouds, trying to do the best we can, but if we continue at this pace we should do pretty well in the over all simulation.  I have personally found the program much easier to use than in the beginning, I am able to link certain factors together now and its good to see that I am getting something out of this bicycle shop.  I do feel that I need to continue to play around with it, so that I can be completely comfortable and knowledgable when I sit down in front of that cheeky dog.  It's good to have a group who understands their role, but is eager to take part in all aspects of the team simulation.  Every person has something to say about certain areas, even if they are not their own.

As for the readings this week, I did not find much new information within them.  A lot of the information covered in Why Business Models Matter  is very similar to most information included in an innovation course.  You have to really do something new or drastically differently once the product has matured, just to bring your profits back up.  While this may be old news, I was intrigued by the example of the creation of traveler's checks.  Naturally, Fargo saw a opportunity that needed improvement and went with it in a way that made traveler's checks successful for many years.  Alas, that blue ocean has dried up, and the red ocean of plastic money has come in.

Speaking of blue and red oceans, this is an idea I have been having fun with recently.  While working on my marketing 202 assignment, I found that I was in fact researching a very red ocean market.  Where as this was a problem for the firm I was writing a project for, I realized that at the point the best thing is to move on and attempt to market your firm in a different way, trying to find that patch of blue in all the red that is our developed world.  While  the article may say that there are many more blue oceans to be exploited, I find that hard to believe if blue ocean strategy is not about new technology.  The technology must at least inspire some more blue oceans to rise, no?

Anyways, I found it unfortunate that there is little I can relate strategy and business models to, hopefully it will come easier to me when I enter the right job market.

2 Comments

  1. Thank you for the opportunity to let me re-read my own journal, and hopefully I can provide some insight so as to improve the quality of my future journal entries.

    I thought I expressed an understanding, although most of it i gained previously, of the various market availabilities (e.g. blue/red), and unfortunately I don't think this weeks readings provided me with anything I have not picked up from previous courses or extra curricular readings.

    In regards to Kolb's experiential learning, I feel that I could have done a bit more relation to the real world, on examples of my own accord instead of using Fargo.  I want to see myself do more relation and synthesis so as to show myself that I completely understand the relations to the real world with what I have learned this week.

    While you achieved some of the analysis level of Bloom's Taxonomy, when saying that "the best thing is to move on and attempt to market your firm in a different way, trying to find that patch of blue in all the red that is our developed world," but I felt you did not represent as much as you have in previous journals.  Next time, eh?

    Thanks for giving myself the opportunity to read my journal, and hopefully my response of such can lead me to do better in the future.

  2. Marc, 

    Thank you for the opportunity to review your learning journal, the main thing of which you have demonstrated learning has been with your analysis of the blue ocean reading. It was interesting to read that you identified a 'red ocean' in the market research you were doing for another paper at the time, you analysed the problem to create a solution, although this wasn't strictly related to the Management 300 paper I would still say it counts as learning. 

    I think you have demonstrated a degree of Kolb's cycle of experiential learning in that your concrete experience of researching in a red market has led you to make observations about why this creates problems for a firm and then to some degree you have demonstrated abstract conceptualization and active experimentation in your marketing advice to move on and market a firm in a different way once a product matures. 

    The highest level of Bloom's taxonomy of learning you have developed would probably be your analysis of the readings, although you said you didn't learn anything new because the literature surrounding business models is something you've covered in previous courses, you provide a good analysis of the blue oceans reading, which I enjoyed. 

    My suggestion for improvement would probably be to make sure you read through your journals after you've written them to ensure that your writing flows. There were parts in the journal where I got a bit lost, so I think maybe focusing on your structure would be a good idea for your next journal, perhaps it would help to follow Kolb's cycle of experiential learning more closely to enable this. 

    Thank you again for sharing your work with me, best of luck for the rest of the course.