So this week for MikesBikes, my team was successfully able to receive a cash injection by Peter. This helped tremendously as I explained in my previous journal how we became insolvent. Despite all the disruptions, confusion and disappointment we were able to see some positives come out of our new change. This week we were no longer insolvent which was our main goal but at the same time it didn't look like we would generate as much sales in the future as we've liked due to such a competitive market it makes it hard to come back from such a big loss. My team and I were able to successfully sit down as a group and discuss our various departments, what we are lacking in each, what we can do to improve and how we will each do this to make it possible. Of course our meeting took awhile but it was necessary due to our situation we were currently facing. In the end we came up with a strategy and basically just hoped for the best.
This weeks reading from Baghai, Smit & Viguerie (2009) main ideas was around the role of the CEO therefore i will be discussing the role of our CEO. From the get-go the entire team put our full trust in our CEO as he announced that he was confident and experienced with MikesBikes which was a surprise to us all but rewarding at the time. He certainly gave us instructions and the way he thought our team strategy should be to start off and we were all excitingly on board with his thoughts. There were both positive and negative signs that our CEO showed throughout the weeks leading up to now. Firstly I will begin with the negative, at times our CEO lacked communication outside of class time, there was not much direction but more of an overall strategy that he told us and we basically just sis our best to cater to them, also he had trouble attending every meeting. This behavior occurred on a weekly basis which became an immediate concern to us all. On the positive side of this our CEO is a very vibrant and enthusiastic leader. Our CEO was always there when we had any issues or questions, very approachable, understanding of everyone's role and duty which gave our team a positive attitude during rollover. Overall I would say that no one is perfect even if you are a leader, we all have our flaws and its the way we work as a team that will determine the outcome we aspire to achieve.
Baghai, M., Smit, S., & Viguerie, P. (2009). Is your growth strategy flying blind? Harvard Business Review, 87(5), 86---96.