The previous week witnessed out team's utter frustration and desperation with the simulation since we were falling way behind other teams in the region and needed equity injection in order to get back on our feet. This week we are even more worried and confused since the sales haven't improved at all, despite all the effort we put in hoping to get the slightest chance of success. The ultimate reason for this failure, in my opinion, is because we had such a horrible start. That caused us to fall too far behind other teams and no amount of pump into advertising or brand awareness could bring our firm to the same level with other teams. Moreover, we never had enough cash to afford the amount of investment that each department requested. Also, after several inccidents of going near bankruptcy and finally becoming insolvent the previous round, now we do not have to confidence to go all out on cash, meaning we are probably not spending enough. All in all, we are in urgent need for a strategy that could get us out of this hole.
Davies and Easterby-Smith (1984) provide a very practical point of view on how managers actually learn through work experience in order to find the work environment that fit them the most. Managers are increasing required to have the ability to adapt to new environment since the dynamics of work has changed vastly in recent years due to speedy advancement in technology. It is also mentioned that manages tend to learn the most when put in situations that require them to develop new methodologies and practices rather than novel scenarios. My interpretation of this is that experience does not simply equate to how long a person has worked in an environment, but rather how much he has adapted and developed through the situations that his job has put him in. Therefore it is important to be proactive and flexible instead of doing every single thing strictly by the book.
Davies, J., & Easterby-Smith, M. (1984). Learning and developing from managerial work experiences. Journal of Management Studies, 21(2), 169--182. doi:10.1111/j.1467-6486.1984.tb00230.x