Coming into the near end of the simulation,this weeks problem has been figuring out how we are able to cut down costs and finally make a profit, The team had always been against this but advice from peter seemed to sway us otherwise despite the resilience. We figured that our advertising would be the only thing keeping us afloat but our lack of funds where hurting us a lot more than we though and our excess of expenditure meant the money was not being utilized in the right way. spend to increase sales right? no not the case. SO finding out the right areas we needed to cut down expenses in was a tricky part. After figuring out the percentages that we spent were way to high we managed to find areas to cut down on where we were overspending.
The theory linked to our decisions this week follows the 360 feedback from the Harvard business review. evaluating our own team and our decisions providing negative feedback for each other as stated in the readings may have influenced our ability to speak out or our decisions as we are afraid to not be supportive of our fellow work mates and their ideas. as a team we need to speak up abit more about our ideas and values, but at the same time conflicting ones arouse, but with reasoning and calculations can be explained or justified.
Moving forward this weeks rollover saw the first ever positive change for our team, and even peter was happy which is hard to get from a mysterious man like that lol, so we are happy about how we approached out decisions and hopefully in the last few rollovers gain more profit and keep improving like we did this week.
Peiperl, M. A. (2001). Getting 360° Feedback Right. Harvard Business Review, 79(1), 142–147. Retrieved from http://search.ebscohost.com.ezproxy.auckland.ac.nz/login.aspx?direct=true&db=buh&AN=3933458&site=ehost-live&scope=site