This week for MikesBikes was a bit of a success but there were challenges. We successfully were able to receive another cash injection from MikesBikes to help us build and become more competitive in the market due to our situation from being insolvent. We were able to get advice on possible changes for the better which was very handy for our team. Since we were low on cash, the injection allowed us to invest more in advertising and distribution. Increasing the quality of our bikes was a must as well. From this we saw positive signs that we could get out of this situation better than what we expected. Putting our trust in our CEO was vital at this point in time of the semester and hope to see the results come our way.
Christensen (2010) had the most interesting and relevant reading to me. I found this because i believe that having ethics, morals and humility instilled in any individual or organisation is important to have. Enforcing these behaviors will not only help them personally but also with partnerships and your everyday life. Learning to be humble even though you're in a higher position or have certain authority and power. Teaching one another that losing can help you learn more compared to winning. If you win every time, you dont necessarily learn as much because you dont see any weakness. Losing shows you everything that could possible go wrong and therefore educates you more. I learnt that ethics are the principles and values an individual uses to govern his activities and decisions. In an organization, a code of ethics is a set of principles that guide the organization in its programs, policies and decisions for the business. The ethical philosophy an organization uses to conduct business can affect the reputation, productivity and bottom line of the business. Leaders and employees adhering to a code of ethics create an ethical organizational culture. I believe that the leaders of a business may create an ethical culture by exhibiting the type of behavior they'd like to see in employees. The organization can reinforce ethical behavior by rewarding employees who exhibit the values and integrity that coincides with the company code of ethics and disciplining those who make the wrong choices. Values are guiding principles, or standards of behaviour which are regarded desirable, important and held in high esteem by a particular society in which a person lives. Values make up who you are. They define your character. That makes them important. People have many different values for many different reasons.
Overall this made me re-think how we are losing and try to see the positives we can take from this activity. Learning that we were able to learn more by losing compared to winning, I just hope we're able to bounce back.
Christensen, C. M. (2010). How will you measure your life? Harvard Business Review, 88(7/8), 46-51.