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In this week, we made some mistakes with our team members. Our operating results were also out of our expectation as we had poor performance in share holder value. We again were the last one compared to our rivals by shareholder value. What had really happened to our team? How could I solve those issues in future and avoid similar things happening again?
I think the first reason was related to tea members’ professional expertise. in my opinion, professional knowledge in marketing ,finance, manufacturing or other business knowledge is quite important for make correct business decisions. According to Tsoukas and Vladimirou (2001), each organization has organization knowledge and that knowledge is determined by members ‘professional experience in this organization. Professional knowledge can make an organization become distinct compared to rivals. In our simulation project, even if our team has some marketing, finance, manufacturing or other business knowledge, we still were weak compared to our rivals. This finally makes our business decision were poor than our rivals. In future, I think that if our team wants to have better performance than rivals, our team must recruit the excellent employees in this industry. This would help us make better decisions in the market over rivals.
Due to the time problem of our group, it is difficult for all members to have a meeting and making decision together.Therefore, our decision may not able to make more effectively. But all the team member are try the best to cooperate with the team and give some advises even if we are difficult to work together with all the members. According to Wang, Chou and Jiang (2005), a team can enhance team cohesiveness if there is a charismatic leader. This is because a charismatic leader has some unique leadership traits such as perseverance, intelligence or professional knowledge to influence its team members. However, I found that our team might not have such a team leader. Therefore, this may be an important cause for our poor performance. In future, if a team wants to achieve success, it was quite important to select a charismatic leader to lead team members achieving success.
Tsoukas, H. & Vladimirou, E. (2001). What is Organizational Knowledge. Journal of management studies,38(7), 973-993.
Wang, E., Chou, H. W. & Jiang, J. (2005). The impacts of charismatic leadership style on team cohesiveness and overall performance during ERP implementation. International Journal of Project Management, 23(3), 173-180.