This weeks readings seem to come at a paramount time; the first actual roll over. Looking back on the first two practice rollovers our team did not actually have a sound business model or a complete strategy to build upon the model. I did understand the importance of looking at the big picture but got caught up in all the little components, tiny decisions that do add up but probably were not of real importance. We were unsure of our overarching strategy and had no idea what anyone else was doing, our competitors. I don¿t know how I cannot get caught up in the small decisions? Perhaps we need to have a meeting where we just go over out strategy. It is important though that we realise the strategy will need to be constantly changed to take into everything else that is occurring in our environment. Although following something through is important as well as not getting to caught up in every decision others could be making, I think it is even more important to not be blind and miss what is going on around us. I always thought that I have understood the big picture as such, but in the group dynamic I am falling into the trap of not looking what are the real key decisions we need to make. This has been concerning for me, especially if this was the real world. I can see when we talk about these small details that it consumes times and there are bigger things we could be discussing. But then I don¿t want to disrupt the team dynamic which is properly not good either that I don¿t want to do this given what we have been told about creating a real team. The Why Business Models Matter (2002) reinforced for me the connection between strategy and the model and I could see where we were falling short. Too many companies get caught up in using just a business model to look at how the business fits together but they forget the strategy element. Making this top of mind will be important for me and I understand know that we will really need to constantly review and look at this.
To move forward in Mikes Bites we definitely need to figure out our strategy but this is difficult to decide when we don¿t know our competitors, what they are doing and how successful they will be. I suppose this relates to the Blue Ocean strategy raeding (2004) where right now the market place is uncontested. We need to create our own demand and not get too caught up in what our competitors are doing. But in the Charting Your Companies Future (2002) reading the first part of developing the strategic canvas it to compare your business with your competitors. I can see how drawing this canvas will be useful to do after the first few rounds when we know our relative stance. I do question the role of this simulation and its real world application. How can we really create a blue ocean with Mikes Bites? Also if this were real, I think our strategy would be very different. How risky we would be if this kind of money were real, I think would be a totally different story. But without practice and making some mistakes how how will we learn.
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