This week me and my team has definitely felt a slight heightened pressure, as feels that the end of the mikes bikes simulation and semester is creeping upon us. As a group we tried to function as are usual efficient selves but with an increasingly complicated business strategy due to the huge growth we had experienced in previous weeks, we did struggle. More tasks to do and same amount of time made it feel like we were frantically rushing every decision without as much thought as past weeks. As a result for the first time we saw a negative result in our overall share price, not to bad, but because of our past success it is definitely hard to take. Why did this happen? obviously it is not a one solution problem as many factors come into play but the readings this week definitely felt relevant after the last roll over.
If we had a good week, we would of created a good separation between us and other groups in terms of share price. Because we didn't it has given others a chance to even the playing field and so we as a team definitely want to work even harder to get back on top. However, how do we do this and continue to grow? Firstly I think that targeting and focusing on producing to profitable micro-segments of customers and our products will be a good start (Baghai, M., Smit, S., & Viguerie, P., 2009). Finding the parts of or strategy that is working and which parts are not will help us understand how we can come through the other side of this slight dip. Just because we have had one bad week I think it is important that we all stay positive about what we are doing and look for opportunities that will allow us to pass completion and not just be passive and 'ride out the storm' (Baghai, M., et al., 2009). To do this we can't just rely on one or two leaders of the group but all take responsibility to look for new opportunities for growth (Baghai, M., et al., 2009). In a group our size we all need to be leaders and help each other, which we have done in the past but as the stakes gets higher so will our workload so I am happy that I have such a great team!
As the end nears, I can see that this course and simulation will become very interesting in terms of who pulls out on top. With hard work and the right strategy, I have no doubt that our team can turn it around and give ourselves the best possible chance to finish near top.
Baghai, M., Smit, S., & Viguerie, P. (2009). Is Your Growth Strategy Flying Blind?. Harvard Business Review, 87(5), 86-96.
Daudelin, M. W. (1996). Learning from experience through reflection. Organizational Dynamics, 24(3), 36--48