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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.

Reference List

Kim, W. C. & Mauborgne, R. (2004). Blue ocean strategyHarvard 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 matterHarvard Business Review, 80(5), 86--92

2 Comments

  1. Hi Krissy! 

    First off, well done with this week's journal! Easy to read, it was also informative. I especially like your first paragraph, which I think is an admirable attempt at Daudelin's stages of reflection. For example, you identified our team's reliance on the offline mode, all the while explaining why it was a problem and it's implications and then implying what we did ("selective in what we were going to enter"). In terms of Bloom's taxonomy, I think you're definitely on the right track - you've shown application of knowledge (from the readings) and how we might be able to use this in future, which is good! 

    In order to do even better in future journals, (because you're doing great already!) there are some areas which you may like to focus on. As you've demonstrated here, you understand Daudelin's stages of reflection and the lower levels of Bloom's taxonomy, so you may wish to spend more time going through Daudelin in more detail in your journals. In order to ascend to the higher levels of learning, analysis and evaluating are also key. I feel like I use this in all my reviews but I promise, I do think it's relevant here!  You mention all three of the readings from this week, which is fine however, in the upcoming weeks, it may be best to just pick one or something that stood out for you from the reading, as this would allow you to go into more depth. 

    Glad you feel we've got that "team" factor! It's been a great experience collaborating with you so far and like you, I hope we resolve our cashflow situation swiftly!

    Cool beans, 

    Elaine  

  2. Reviewing my own journal is a bit weird, but I've realized that it's a useful exercise in developing my journal entries for the future. It's important to be critical of yourself and your work, that way you are aware of what you need to work on. Since getting the opportunity to review my peers work, I picked up tips/tricks on how to better my journal - this is a unique course that teaches you to be better by learning from and with others. Looking at my journal, the main thing in where I've demonstrated learning is realizing the process of my team's business strategy and how that's played out so far within the game. Also accepting the fact that I am not the best at my particular role and that I need to learn to adopt the skills required to take on whatever role I am given in the business world in the future. 

    I think I've done my best to follow Daudelin's guidelines by progressing through the four steps. The highest level of Bloom's taxonomy demonstrated was evaluation and reflection. This was done when I said "However after going over through our team strategy and talking everything over, not having the offline mode didn't seem so bad. It actually strengthened my team's decision because we had to be so much more selective in what we were going to enter."

    To improve next time I could go further into one aspect of the readings and focus on how it connects to my experiences within my team.