This week we took another step in the right direction, by regaining a decent proportion of our individual SHV and profits, however we still negative in cash. The company we brought also did very well, so it is looking like it was a worthwhile invest in the long run. The problem going through to the next week is gaining more profit and cash increasing our production efficiency and becoming a more cohesive unit with the other team which we took over.
We are only low on profits and cash because of our recent takeover, but since it has been a steady growth which we need to continue to propel ourselves up the leaderboards. The other problem surrounding our production efficiency is that last week our overall production efficiency was higher, but our idle time was very high, so we changed around operations to account for this, and in turn overall efficiency went down. The Last problem surrounds our team’s cohesiveness with the team we just took over. We haven’t had a full meeting between both teams yet and we have to figure out how to communicate with each other the best.
To solve the first two problems, it’s all focused on what we input into Mikes Bikes, which I will keep to myself for confidentiality reasons. However, with regards to improving our cohesiveness, we need to improve our ‘Human skill’ ability. Katz (1974, p.91) states that “human skill is primarily concerned with working with people”. So if we improve our human skill ability then we will be able to communicate and work well with our new team members
We can do this by having a meeting with the entire two teams present to figure out everyone’s roles so we don’t have a fight for power, or someone does something that was not decided upon.
Katz, R. L. (1974). Skills of an effective administrator. Harvard Business Review, 52(5), 90–102