Insight into management 2018 Global Challenge Extracts from

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Insight into management 2018: Global Challenge Extracts from Introductory slides on brainstorming, ideas assessment,

Insight into management 2018: Global Challenge Extracts from Introductory slides on brainstorming, ideas assessment, mission statements, Dr Elaine Stewat 15 th-16 th May 2018

Phase 1 - Refining • What is the kernel of your idea? • What

Phase 1 - Refining • What is the kernel of your idea? • What are you selling? • What are the key selling points? • Do you believe in it enough to deliver these points with confidence? • Where is the demand? • What are the risks? • What would your elevator pitch be?

Brainstorming – Tips 1 - brain storm alone (write down your ideas) 2 -

Brainstorming – Tips 1 - brain storm alone (write down your ideas) 2 - then get together in your group. One rule- no judgement, no criticism, no commentary. The goal here is to reduce fear 3 - get one person to take down all the ideas (at least one from each person) 4 - together, you evaluate (here you narrow down the best ideas by discussing their pros and cons (remember to keep in mind the objective!) 5 - narrow it down to one problem and one solution

Brainstorming – Tips • Start by being positive • Free flowing • Quantity not

Brainstorming – Tips • Start by being positive • Free flowing • Quantity not quality • No such thing as a bad idea • so think about side the box • your idea may stimulate another one • Don’t criticise or evaluate the suggestions until after the ideas have dried up

Brainstorming – Tips • Be passionate about your own ideas • but be open

Brainstorming – Tips • Be passionate about your own ideas • but be open to better ones • Explore the ideas • • Seek clarification Ask questions Think out loud Enhance and refine • Be wary of group think! • Every group needs a contrarian

Assess your own idea • Validity • Scalability • Policy • Impact

Assess your own idea • Validity • Scalability • Policy • Impact

Mission Statements A one-sentence statement describing the reason an organization exists used to help

Mission Statements A one-sentence statement describing the reason an organization exists used to help guide decisions about priorities, actions, and responsibilities Guidelines: • Keep it clear, memorable, concise • Aspirational but focused • What, how, who, why?

Global Challenge - Phase 3 (20 pts) Marketing and Advertising Strategy • Confirm which

Global Challenge - Phase 3 (20 pts) Marketing and Advertising Strategy • Confirm which media you will use to create your campaign (should have budgeted for this in Phase 2) • Design marketing campaign (‘Campaign Form’) • Impact versus cost • What do you want to communicate? • What are you selling (product, idea, lifestyle)? • Create a product summary • Book marketing slot (phase 5) – think about your stand (auction)

Global Challenge - Phase 3 (20 pts) Marketing and Advertising Strategy - Proven marketing

Global Challenge - Phase 3 (20 pts) Marketing and Advertising Strategy - Proven marketing formulas • • Appeal to your target buyers Present your product in real-life situations Make the ad easy to follow Leave them talking about your product - And yet you have the weird, wonderful and ultimately successful…

Global Challenge - Phase 4 (10 pts) • Prototype manufacture • Quality • As

Global Challenge - Phase 4 (10 pts) • Prototype manufacture • Quality • As designed? • Review material costs • In budget? • Submit Budget versus actual form • Deliver marketing campaign

Global Challenge - Phases 5 & 6 (30 pts) • Prepare for Innovation Fair

Global Challenge - Phases 5 & 6 (30 pts) • Prepare for Innovation Fair – set up stand • Selling techniques? Need to attract people to your stand • Media required? • Think about: • • The roles you are going to play Your pitch How you will respond to questions Your competitors! • Innovation Fair • Presentation is key – support = votes • Sell, sell

Team Development– 4 Stages (Tuckman 1963)

Team Development– 4 Stages (Tuckman 1963)

Challenge each other • Your success will depend on how well you can work

Challenge each other • Your success will depend on how well you can work as a team • Your individual goal is therefore to maximise the ‘output’ of the team. • This means you may have to: • • Think about your contribution Think about the contribution of others Move out of your comfort zone Encourage others to step up

Difficulties in Teamwork 1. Group Think • Lack of questioning or critical judgment as

Difficulties in Teamwork 1. Group Think • Lack of questioning or critical judgment as a result of group pressures • Pressure on doubters to support the majority • Interpret silence as a “yes” vote • Illusion of vulnerability 2. ‘Social Loafing’ • People ‘slack off’ as they believe others will do the work • ‘Free rider’ or ‘sucker effect’

Leadership • Leadership isn’t just about being in charge: • • Leading by example

Leadership • Leadership isn’t just about being in charge: • • Leading by example Taking responsibility Owning a problem Making decisions Taking action Getting everyone involved Showing emotional maturity Making sure the team is productive/successful

Innovation is a Tedious Process 17

Innovation is a Tedious Process 17

Global Challenge • My challenge to you: • • Challenge yourself Challenge what you

Global Challenge • My challenge to you: • • Challenge yourself Challenge what you do Challenge each other (positively) Work as a team