What I Didn't Learn in Business School

...

Overall, these strategy frameworks finally gave Justin the clarity to organize his thoughts into a more comprehensive structure for analysis. Especially in regards to the VRIO framework, Justin was finally able to see that the decision to implement Plastiwear was not dependent on the retail shirt market. He was finally able to see that the decision about Plastiwear was more about HGS’s ability to exploit its competencies throughout the value chain where they could gain and sustain an advantage. One of the most important points made throughout the entire book, “If you ask the wrong question, about the wrong industry, it doesn't really matter what the answer is” (80). Justin discovers that in order to “crack the real world business case”, you need to be asking the correct questions about the correct industry. He learns that since real life situations are not cut and dry like traditional business case studies done within the classroom, there tends not to be case questions at the end. However, it is Justin’s responsibility to figure it out. This can be tied back to Justin’s first client meeting as well as interviews. Justin learned that by knowing what questions to ask is key. Lastly, to touch on some of the struggles that Justin had experienced throughout the book was that of teamwork. As we have learned in the classroom, teamwork is a crucial and valuable method used within the real world, especially in business. Justin was a recent MBA graduate and quickly learned that in the real world, it is vital that a team works together to ensure that the analysis is complete and accurate. As a new member of a team, working with and learning from the others is extremely important to personal development and growth. It is also important to note that it was probably extremely difficult in this scenario because all members of the team have never worked together before. It takes time to build rapport and trust with a new team.

Which key organizational and human level factors can you identify as obstacles to implementing the strategy formation process the way it appears in theory? [Hint: Consider individual motives, personal interests, stakeholder interests and political behavior].

Having the ability to implement the strategy formation process the way is appears in theory is deemed to be a very rare occurrence. The real world is filled with individual motives, personal interests, stakeholder interests as well as political behavior. In regards to individual motives and personal interests, different individuals of an organization might have different motives about the future of the companies given their role and this difference leads to different outcomes. In regards to stakeholder interests, Understanding and learning whom the key stakeholders are is both critical to Justin and the rest of the team hence a “team interest”. Supporting stakeholders and strategy makers is an essential component of strategy implementation. According to Livia, she realizes that in order to successfully move ahead with whatever recommendation they think is best, they will have to make sure to address the interests of the key players in the company. To do that, knowing the difference between interest and influence is critical (6). Also, by knowing who the key players are in the company gave the team “the ability to figure out who could either help implement HGS’s recommendation or who could stop them from being implemented” (6). Having a good sense of the political landscape is critical because the “goal here is to use both the overall analysis and change management skills to transform those parties that are likely to resist recommendations into becoming supporters”(6). Some of these factors can intertwine in a way in which political behavior and personal interests have the possibility in clashing. An example of this is seen in Justin’s meeting with Shirley in which she describes how some of the strategy frameworks used can be manipulated to enhance someone’s already existing point of view. In organizations, personal benefits might come ahead of organizational benefits depending on the situation. In looking at both ends of the spectrum, optimists might be seeing a strategy as an extension of their current businesses whereas pessimists might not since their view is based on the department’s benefits and not the organization’s. Justin and Shirley’s meeting on defining the importance of NPV in the real world portrays this. She stated that the most optimistic calculations view for NPV were done by the scientists involved with the invention of Plastiwear in comparison to the most pessimistic calculations view for NPV which were determined by the department heads who would be losing funding if the project went through. An example of this view is discovered during the meeting between Justin and Scott Beckett. As you can see, really “cracking the case” and coming to a conclusion is a bit more difficult then what we have learned in the classroom. Lastly, both the optimistic and pessimistic views seemed to put into question an individual’s motivation in regards to decision making. Later on when Justin meets with Jerry Tucker, scientist credited for the invention of Plastiwear, he discusses how pleased he is that Plastiwear could be a huge success. However, he points out that “problems with modern companies is that we really aren’t managed for owners but we’re managed to make the lives of the managers comfortable” (102).

How would you have navigated some of the minefields that Justin and his team faced?

The book was a good read as after being in the workforce for the past 12 years, I could see how a MBA student coming directly from an undergrad degree can have some key takeaways. It very interesting to read that the frameworks we have learned don’t lead you to the final conclusion which is what we learned while in school. They are more of “stepping stones” in the process. I can especially relate to Justin’s experience in trying to understand the difference between what is learned in the classroom and what is learned out in the real world. Going into the workforce with an open mind will help the transition of soon to be MBA graduates on their career journey. He was focused on “cracking the case” and when he couldn't, he became frustrated. It is also important to be able to separate passion from emotion. You must be able to show the passion for your work without letting emotion come into play. Justin was viewed as a “total rookie”; he put a lot of effort and work into his presentation and Ken and Livia did not let him present his findings because it was evident of his emotional attachment (193). Another example that new graduates can relate to is when you are applying for a new position. During the interview, you want