This week has been an interesting one after buying out a very undervalued company and also being brought out ourselves with our stock price plummeting. With that I sum up our Mikes Bikes group. We have crashed and burned, and now have been taken over and given a second chance. The group that has taken us over seems to be the total opposite of us, and that could the reason why they are so successful. In saying that, I don't think that is completely true, because I feel there has to be an element of enjoyment when doing group work. I'm not saying they are not having fun, maybe our group had too much fun working in a group and lost track of remembering the fact that we are in a competition against other teams. I thoroughly enjoyed by team's energy, commitment, and yes, our knowledge. By no means are any one of us incompetent in the decisions we made. I feel we were prepared, did our research and gave it our all by trying a multitude of different strategies.
Obviously you can always do more than what you did, but I am not disappointed in our team or the leadership that we had. As I have mentioned in my previous journals, I fully support our CEO and if I was in his position, I would have ran things similar to what he has been running it. I think at the end of the day we got outplayed, and credit has to be given where it's due. We got outplayed and maybe outsmarted to a certain extent. But I think there is also an element of luck that just did not go our way. A few people(including the company that took us over) have looked at our reports and just can't pin point where exactly we have gone wrong, so it is a bit of a shame. Therefore I don't have any problems with the way we approached Mikes Bikes, yet I think we all can agree that we would have done a few things different here and there. I do feel personally responsible with the marketing front as I feel like I was not the man for the job and instead went more into the financial section.
Few organizations have figured out how to turn the oceans of data available to them into islands of insight about their best opportunities for growth, (Baghai et al, 2009). That is the most relevant quote of the reading, and that could have been written in bold letters, as it sums up our situation in MikesBikes. At the beginning of MikesBikes, we were having a cruise on a world class ship, happy go lucky and playing it easy. As the weeks went past, we started to realise that we had to start giving some fuel to the fire or the steam ship won't operate. I think we spilled a whole couple hundred of litres on the fire, which inevitably caused the ship to burn down, based on advertising in a war we could not win and we are now in the emergency boats, struggling for survival. Hopefully, along with our new company, we can pick up the pieces and turn it around. Most definitely not just jump on their ship and let them run us the way they want, but rather work with them and find all the broken pieces. We will most definitely need their help, and I am looking forward to working with the other person in the same department as myself, learning from what they did in the past to get them to where they are now. Especially because the Racing Bike Company has some of the best group members in the simulation I am both positive that next roll-over we can come back and finish somewhere decent. Also if they win we also get the 5% bonus mark!
Baghai, M., Smit, S., & Viguerie, P. (2009). Is your growth strategy flying blind? Harvard Business Review, 87(5), 86---96.