This week has been quite eventful. We completed a takeover, last rollover to try an attempt to level out the playing field in the EU. However, the take over has been more complex than I had hoped. We met at the start of Wednesdays class and introduced ourselves. Both teams have a similar mindset to Mikes Bikes, and I think we’ll get alone fine for the long run, but the fact is that we just bought them and it’s a little awkward at times. There are new decisions to make and now we have to balance up both team’s interests. There didn’t seem to be a consensus on the strategic direction we were planning to go for in the next rollover and with time coming to an end for the simulation its important for our team to start performing, whilst also making time for our subsidiary company.
In articulating the problem, I think this is probably a result of myself not establishing a clear line of communication with their group and ours, at the start. This meant that we had slightly casual interactions and never wrote anything down or made concrete plans. Also, the fact that is we don’t really know who has final say, we took them over but at the end of the day, they still make their own decisions.
In Analysing why, we had this problem, looked to the reading from Drucker (2005), managing oneself is important and furthermore understanding how I perform, and how others perform well should help smooth out this transitional period. Having a good open form of communication, with good feedback on thoughts and opinions will allow us to create better strategic plans. I need to be able to build an environment that allows us to work better and create that communication.
The strategy to implement must look at both companies to address their strengths and weakness, so that we can prioritize profitability for both companies. Profitability has been a struggle for our company as we are trying to balance out the threat of competition with spending lots of cash. Success will be a big factor to whether both teams get along I think, as it can get tense when everyone’s trying to get a decent grade.
Action for next week, I will try to have a meeting at the start to access where we are at after this week’s current rollover. Then after we settle on that I’d like for us to have a forum on what to do next with an informative approach, but also making sure to listen and take in what they say. Priorities will be to manage both of our production lines to a)make them more efficiency and b)bring down the price. If we can achieve some results over the next couple weeks I think we will have a strong finish.
Drucker, P. F. (2005). Managing oneself. Harvard Business Review, 83(1), 100-109.
Daudelin, W. M. (1996). Learning from experience through reflection. Organizational Dynamics, 24(3)