MGMT 300 – Learning Journal Week 09 Scott Wong- 2651050
Importance of Analytics and the Focus of Finer Details: A Parallel of Daudelin’s learning from Reflection.
It has not been a smooth week as my team has tried to redeem ourselves from last week’s rollover for Mike’s Bikes. We had become too confident in regards to leading our region in Mike’s Bikes and also in regards to how much money we could spend. Our shareholder value dropped significantly as a result of over spending our cash on hand but how did this happen? Could we have prevented this drop in shareholder value?
According to Davenport (2006) a company’s ability to collect, process, analyse data and implement decisions based on that data is a key factor which determines an organisation’s ability to learn and therefore become successful. This ability is termed analytics (Davenport, 2006) and I have now been reinforced with the idea that analytics, which is like learning from reflection (Daudelin, 1996), is crucial in order for my team to become successful in Mike’s Bikes. Recognising the need to collect info and collecting it is like the problem definition in Daudelin’s steps. Furthermore analysing data is like Daudelin’s step of analysing the problem and the Daudelin’s trial and error step is very similar to producing a recommendation or suggested action in regards to the data. Finally acting upon your data and analyses parallels Daudelin’s fourth step of implementation.
Because the rollover for week 7 was successful we became too confident and started spending money without using analytics to determine how much money we should have spent. Our success from week 7 blinded us from the fact that another company (let’s all them team B) had made the mistake of spending too much money. If our team had granulised by narrowly focusing on small details (Greiner, 1972) of team B’s problem by collecting, interpreting data and acting upon this information (Davenport, 2006) we could have avoided in a significant drop in shareholder value. So yes we could have avoided our drop in shareholder value and this week my team has been narrowing our focus on the finer details of Mike’s Bikes, granulising (Greiner, 1972) both our own company and the external competition.
Daudelin, M. W. (1996). Learning from experience through reflection. Organizational Dynamics, 24(3), 36--48
Davenport, T. H. (2006). Competing on analytics. Harvard Business Review, 84(1), 98--107.
Greiner, L. E. (1972). Evolution and revolution as organizations grow. Harvard Business Review, 50(4), 37--46.