Due to a time constraint throughout the weekend I am writing my learning journal before the results of this week's turnover comes out, but I have found this to actually add an interesting perspective. It allows me to reflect on the steps we took and the choices we made, without a biased view on whether or not they were positive or negative (as based on the results).
To start I will identify and analyze the problem my team currently faces; we started off great, propelling to the top segment of what looked to be a very promising market (in India) but then everything went downhill. For lack of a better word, I think our downturn started when we became a little "cocky". We started to spend a lot more money, and tried to expand too quickly. This, in the end, became our downfall and pushed us to near the bottom of the pack. Throughout the process, I also think that we started to lose our identity. One of our weekly readings explained how "your company’s best growth opportunities may get lost in the big picture" (Baghai, Smit, and Viguerie 2009). We started to focus on trying to improve our entire business all in one go. This took away from our focus on what we initially identified as our key success factors, and when comparing them to other companies now, those characteristics are no longer above rest of the pack.
Moving forward we have tried to isolate these key success factors once again. Along with this we have made sure to spend less money, and use it only where we know we need it. This hopefully, will allow us to start experiencing a positive income once again, and we can hopefully start increasing our SHV. I do not know what kind of consequences our changes will have on this weeks results; saying this, I really do believe that we did make positive choices and I am hopeful for positive results.
All in all, I am not especially happy with where my team lies at the moment; saying this, I do still enjoy the MikesBikes simulation and I believe I have learned some valuable lessons in the process. Our other reading this week stated that "those who don’t record history are doomed not to learn from it" (Davenport, 2006). I think that these journals are a great way of recording, reflecting, and learning from both the positive and negative choices we make each week!
Baghai, M., Smit, S., & Viguerie, P. (2009). Is your growth strategy flying blind? Harvard Business Review, 87(5), 86—96.
Davenport, T. H. (2006). Competing on analytics. Harvard Business Review, 84(1), 98--107.