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This weeks lectures started off with some interesting advice from the lecturer about strategies, as a team we had been discussing our objectives and the strategies we were going to apply for the real roll overs on Mike's Bikes. Our team had been considering a differentiation strategy like Porter describes in his 5 forces, and by what Magretta says about competitive strategy summed up in this quote "[competitive strategy] is how you will do better than your rivals and doing better than your rivals means being different". My team wants to differentiate and has done that through the practice rounds, we had trials implementing more than one new bike which went well for us, also part of our strategy has been to change our name (which most people have done now).

Just when we thought we had decided on the sort of strategy we wanted to implement, Peter holds a game-changing (literally) lecture where he went into discussing competition and different strategies, strategies we had never even considered. The Blue Ocean strategy reading goes over this idea that just because everyone is in that one segment does not mean that is the only place or the only viable position to be in. It is a very interesting concept and is easy to see how many companies have been successful using this strategy as it is very important to be always changing and staying unique. A blue ocean is a new unpopulated industry related to your previous industry which has no competition. We will be adapting our strategy to maintain our competitive place in the simulation and ensure we are staying at the top of our game.

The last reading we studied which also has significant relevance to where we are now in the game and the future too, is Kim, W. Chan's piece on the future of your company and ways to plan for it. He mentions having a focus or key ideas for the company, using divergence and staying unique within the market and having a compelling tag line -similar to a value proposition a tag line states what you promise to offer your customers through your products and services. Chan was all about something he called a Strategy Canvas which uses Visual; awakening, exploration,  strategy fair and communication to identify strategic issues and develop and choose a strategy. His way of developing a strategy to me was very compelling as it does not have the usual hierarchical functions of strategy planning and ensured everyone would agree and that the best one would be chosen by having equal chances to display these to managers.

I would love it if we had enough time to develop strategies with our teams however that is unfortunately not possible, however I will push that we have a variety of options when developing our strategy and ensure that all team members get behind it. Our strategy has been successful so far with a good result for our first proper roll over, however we will need to reassess our strategy weekly and understand we may need to make major or minor changes depending on competition and market changes.

Kim, W. C. & Mauborgne, R. (2004). Blue ocean strategy. Harvard Business Review, 82(10), 75--84

3 Comments

  1. Hey Nicole,

    Thank you for the opportunity to review your learning journal. The main thing that you have demonstrated in your learning this week is the importance of flexibility in the team's strategy - particularly with relation to what you took away from the readings. It is clear that you have gained knowledge from the readings that you have applied to your thinking of the concept of strategy. In your second paragraph there is a good discussion on Blue Ocean strategy and you then go on to state how your team aims to remain competitive by using this information. Additionally, the third paragraph discusses that you learnt something new and, what you consider to be, valuable. This is good as it demonstrates your ability to take a new concept and apply consideration to what it says.

    In terms of Daudelin's approach I feel like you articulated the problem of having too many strategies to pick from after Peter gave the "game-changing lecture", however I'm not too sure whether you moved past this stage fully. There wasn't a lot of analysis of the problem but more of a discussion about the relevant reading and then a brief statement about what your team is going to do. I think that if you spent a bit more time discussing the decisions your team made in regards to strategy (obviously without going into detail if you don't want to) you would have had more information to analyse, then formulate a plan, then act. Perhaps talking a bit more about how your team will stay on top of the game and whether those decisions are viable would be a good start to furthering your learning process.

    Similarly in regards to Bloom's taxonomy I think you are ¿writing in the 'application' stage. It is evident that you are applying what you have learnt from the readings and from Peter, to your team situation. To move past this into analysis and on to synthesis and evaluation, I would suggest that you push forward from what you've learnt in the readings and reflect on, and analyse, experiences you've had throughout the week and how the readings have assisted your understanding of your experiences. Spending more time reflecting on your experiences will enable you to learn more from the process and move further up the hierarchy. 

    Finally I would suggest adopting Daudelin's advice on asking questions. If you question something of your experience from the week - whether it be a decision made, or why you're acting the way you are in your team, or what you can do differently - and work through the journal with this question (or questions) in mind it becomes easier to see your learning progress. Also by questioning yourself you open yourself up to being able to fully analyse what the problem is and what you have learnt.

    Thanks again for sharing your work with me, and the class as a whole. It was really good to see how much you took away from the readings - the last couple of weeks I have been failing to integrate concepts from the readings into my journals, so reading yours has helped me see how I can do this in the future. I hope you find my review helpful, I realise now that it was a bit picky, but I hope that what I have said enables you to improve and progress in your learning process.

    Good luck for the rest of the semester!

    Jd

    1. Thanks Jd that was really helpful and despite being a very long thorough review, wasn't too picky at all. Thanks again.

  2. I feel as though this journal lacks depth, as I am reading I feel like I want more in the paragraphs - stop holding back! You need to think more deeply about the issues you discuss instead of just relating them to thoughts or experiences in teams. I agree with what JD said about the need to analyse the theories and to really demonstrate you have learnt from them, you should show how the readings and theories helped you understand an event or decision.

    For Daudelin's approach, you identified the problem but you really go much further than that, maybe if you are yet to know the details of what you will do specifically then you should talk about something more concrete as it will allow you to get past that basic level of Daudelin's to analysing the problem and talk about what you will do to change this!

    In terms of Bloom's taxonomy you have not yet got to the stage synthesis and evaluation, you need to get past application, move up that hierarchy by trying to understand the experiences you have had (throughout uni life or just this course) through the theories. I know Its hard if you have nothing to use in your own life maybe you could use a situation you heard in business news etc. to help you demonstrate your learning.

    I also like JDs suggestion to question things that have happened during the week as in a real reflection - why did we not do so well, why am I constantly unprepared, what can we do better next time etc.

    Good luck for this weeks journal ¿