I can’t believe this class is almost coming to an end. In the last couple of weeks I have been trying to motivate my team to slowly recover from our crash. This week with guidance from Peter it finally happened! This was the only chance to change the way my firm operated in order to recover by the last two rollovers. This time we made $3 million dollars and have recovered despite still only having a low shareholder value. The issue now is how my team can collaboratively come together for the last two rollovers.
Greiner (1972) talks about the development of management through stages. Had I read this reading prior to starting this course I believe it would have benefited me. This is especially because over the course of the semester my team has become somewhat ‘muddled’ and unclear in what direction we are heading. It took many rollovers to come to the conclusion we were spending too much, compared to what we were actually selling. When our strategy began to fail in the beginning we failed to move to a level of collaborative growth (Greiner, 1972). As my team started off strong and then as soon as we were performing poorly team motivation dwindled, thus adding intense muddling and confusion. No one seems to be on the same page until now.
In possible solutions to this issue I find it is important to get things right from the start, especially as soon as something is unclear ask for advice. Peter was extremely helpful in providing guidance and how to take corrective action and in the next coming week I believe this could be an effective option to ensure we don’t bomb out again in the last rollover. I believe my team could continue on the same path had I not asked that simple question to Peter. In this last double rollover it is important we get it right, in the hope that now I see the firm is profitable, now the shareholder value can be increased.
This class has been a journey. Somewhat interesting but most of the time downright frustrating! I have enjoyed making new friends and in this last week I hope to make good decisions in how to boost the firm. I have learnt some of the many dynamics working collaboratively in a firm. In my teams new glimmer of hope I really do hope we can come off at least just as good as we started.
Greiner, L. E. (1972). Evolution and revolution as organizations grow. Harvard Business Review, 50(4), 37--46.