By: Ramesh Jain
Individual key learning’s:
I was a worker in the organization and involved in manufacturing boats. I did not go to the market and sell boats as I was ordered to make boats. In the end I went to the market to sell a luxury item and saw that the market was unorganized. First it was to decide a name for the company and everyone’s ideas and opinions were considered. The company was named as “Royal Anchorage”. The group failed to listen to instructions and in hasty created big boats which resulted in wastage of raw materials and hampered the quality of the raw materials. The group was structured and the roles were well defined, but the group failed to follow the roles accordingly. The CEO was unable to control the group and get the work done. It was the workers and the welfare manager that carried out majority of the tasks. The CEO was successful in selling few boats and getting the registration done. There was a lot of confusion in dividing the work during the start of the work. Later workers who could not make the boats were cutting the paper and others were making the boats. Attention was paid only to the quantity of the boats and not the quality. No targets were set as to how many boats are to be produced and sold. Everyone in the group was selling the boats after making few as the market time was limited. There was a dilemma in whether to register for the luxury goods or not and every person’s opinion was considered for this decision. The group failed to observe the market movement and then take decisions. This resulted in the registration of high cost luxury goods registration and ultimately leading to a loss. The wages and salaries of the employees were not considered. The group failed to account the inventory and bought more raw materials which in the end were not used as there was enough material in the inventory. There was no dedication from some of the employees which hindered the production.
Market Key learning’s:
The market was the most unorganized in the boat building exercise. The international…