First real week of MikesBikes decisions, and I have to say I was pretty excited - although not having the offline mode was rather nerve-racking! My team relied quite a lot on the offline aspect during the practice rounds; so hearing that this was taken away was a bit of a setback. However after going through our team strategy and talking everything over, not having the offline mode didn¿t seem so bad. It actually strengthened our team¿s decisions because we had to be so much more selective in what we were going to enter. Plus the uncertainty adds so much more suspense, and who doesn¿t love suspense?? I am enjoying my team and really appreciate that everyone is willing to work together. Finance is not my forte whatsoever, and I am really thankful that my team has the patience and flexibility to help each other out. Not sure about all the rest of the teams, but I think mine really has the ¿team¿ factor to it – really proud of that.
Reflecting on this week¿s readings, I really liked how the Magretta reading clarified the difference between a business strategy and a business model with the Walmart example. The business model is how the different elements of the business fit together, compared the strategy where you differentiate your business from your competitors (Magretta, 2002). Business strategy was also brought up in the second Kim and Mauborgne article. All the ¿visual¿ aspects are ways to strengthen strategy. This could be very helpful for future meetings with my group, that way we can draw out a clear visual map and have everything clear and easy to reference back when we need it. The first Kim and Mauborgne article about red oceans and blue oceans was interesting. As I understood it, the markets with Mikes Bikes can be seen as red markets because they are already established into the five segments already. The blue market is what drives growth and what every new company is looking for (Kim and Mauborgne, 2004). With the red markets, we can aim for different segments within that market, and place a bike where think is the best fit. These reading provided a lot of information to take into account for future rollovers.
Overall, this week was rather stressful yet good at the same time. I was happy to start the real game, but nervous to see how our strategy plays out with the rest of the teams. I dislike the fact that there are only two worlds. Would¿ve liked to have three, oh well. Reflecting on my team¿s performance, I¿ve noticed that we took a rather relaxed take on making this week¿s decisions. Did we do enough? Have our decisions placed us at a good starting point? I am feeling quite anxious about our cashflow situation and our overall funds in general. I am hoping that in next week¿s meeting we will continue to build our strategy, allowing more money to flow in, and making it less stressful. Still, I think we have made the right decision, and hopefully the choice pays off over the next couple of rollovers.
Kim, W. C. & Mauborgne, R. (2004). Blue ocean strategy. Harvard Business Review, 82(10), 75--84
Kim, W. C. & Mauborgne, R. (2002). Charting your company's future. Harvard Business Review, 80(6), 76--83
Magretta, J. (2002). Why business models matter. Harvard Business Review, 80(5), 86--92