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

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- 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 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 6- no such thing as a crap idea (this is how I work with my colleagues- sometimes I get the best ideas not from reading papers but just from talking to someone- I then read the papers to refine) 7- go wild!

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

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 (20pts) 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 (20pts) 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… https://www.youtube.com/watch?v=axSnW-ygU5g https://www.youtube.com/watch?v=owGykVbfgUE

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

Global Challenge - Phases 5 & 6 (30pts) 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, sell https://www.youtube.com/watch?v=nYP9zXaMkMk

Team Development– 4 Stages (Tuckman 1963)

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 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 ‘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 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

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