The New Product and Services Development Process By SK For “The Genius”

The Genius...is not just another school. It is a school with a difference. The difference is in the Vision and Action. Genius strongly believes that every child possesses a wealth of potential. All we do is facilitate its emergence in the most natural and beautiful way.

Vision & Mission To be known to have an exemplary environment to prepare students for the challenges of real life To enable students to become confident, life-long learners and responsible citizens with the skills to succeed beyond the School’s doors Vision Mission

Goals and Strategy Build Brand loyalty Growth (# of Students) Fulfill students unmet needs Establish a feedback process (from students, parents, and teachers) to understand students requirements Build cross functional teams Leverage all resources Develop NPSD process :The stage gate process & keep reengineering it Goals Strategy

Why Do We Need a NPSD Process? To ensure that the future goals are in line with school strategy To create superior services in the most cost effective and time efficient manner To make sure we do the right projects To make sure we do the projects right

Seven Goals – The Genius plans to Achieve GoalKey Findings* 1.Quality of Execution25% to 45% of new product launches fail. Percentage will vary by industry. 2.Sharper Focus, Better Prioritization 19,000 new products were introduced to supermarkets, and half disappeared from the shelves within two years 3.Fast-Paced Parallel ProcessingActivities Should be done in parallel, not in a series 4.A True Cross-Functional Team Approach People fall in love with their own ideas 5.A Strong Market Orientation with the Voice of the Customer Built In Superior products have a rated profitability of 8.4 out of 10 (versus 2.6 of 10) for undifferentiated products. 6.Better Homework Up-Front Superior products have a market share of 53.5% of the defined target market, versus only 11.6% for “me too” new products 7.Products with Competitive Advantage- * Source : The Goal behind Innovation: Mastering New Product and Service Development, David Goldsmith

The Stage Gate Process It is a blueprint for managing the product/service innovation process to improve effectiveness and efficiency Stages are designed to gather information needed to progress at the next gate Gates are quality-control checkpoints where go / kill and prioritizing decisions are made.. Gates consist of Output Criteria Deliverables

LaunchDevelopmentBuild Business CaseScoping Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery Go To Development Go To TestingGo To Launch Vision Second Screen Idea Screen Testing & Validation Must meet - should meet go/ kill/ hold/ recycle point The Stage Gate Process for Course Selection Vision Strategy Goal Mission Hold Idea Bank

“As Long as you are going to think anyway – you might as well think BIG! ” - Donald Trump 1. Movement classes (aspects of Dance, Gymnastics, Dramatic expressions etc) 2. History with Fun 3. Instrumental classes 4. Creative art 5. History with Fun 1. Health and Physical education 2. Foster thinking 3. History with Fun History with Fun Instrumental classes 1. Health and Physical education Foster thinking 1. French Culinary Classes 1. Mental Math 2. Shakespearean English Movement classes Creative art Foreign language Instrumental classes 1. French Culinary Cooking 1. Foster thinking History with Fun 1. Health and Physical education 2. Foster thinking 3. History with Fun Dramatic Expressions Foster thinking Mental Math Shakespearean English 1. Gymnastics 2. Creative Art French Culinary Cooking French Culinary Cooking 1. French 2. Culinary Cooking 1. French 2. Culinary Cooking

Discovery Stage : Ideation Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery Great NPD Ideas Bottom Up Top Down Networking Events For School Competitors Education Week Lead Users Analysis International Markets/Schools Parent-Teacher Meetings MRG Events Voice of Customers

Gate 1 : Idea Screen Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery  Well described list of ideas (Courses)  Are the courses relevant to The Genius ?  Are the market size, growth & opportunities attractive ?  Will it leverage resources of the company?  Is there a reasonable likelihood that the course will be technically feasible? * Use of Benefit Measurement sorting technique such as Q-sort  Go / Kill / Hold / recycle  New Product Development Team and senior management from different departments (3-4 people) Deliverable s Gatekeeper Criteria Output

Stage 1 : Scoping Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery Gentle screening of the courses to find out feasibility, magnitude of opportunity Detective Research/Preliminary Market Assessment (internet search, library search, telephone interviews, Industry experts) to assess value of the courses Preliminary assessment as to how would these course requirements be achieved technically Preliminary financial and business assessment that give Sanity check /ball park estimates) Objective Activities

Gate 2 : Second Screen Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery  Figures of market assessment, size, acceptance  Level of risk  Financial assessment  Are merits higher than the risk ?  Would it have any legal issues ?  Does it fit The Genius strategy ?  Would the payback period cover the investment done ? * Scoring Models will be used  Go / Kill / Hold / recycle  Standing Gatekeeper Group Gatekeeper Criteria Deliverable s Output

Stage 2 : Build Business Case Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery Define & describe thoroughly the courses, for whom; why the school should invest and by whom the investment would be made? User needs and wants study – Is the course truly Superior? Detailed market analysis – how big is the market and how much can we grow? Competitive analysis Detailed technical assessment – Do we have experts/teachers available or will require additional hiring? A Realistic Concept testing with students/parents – will the course be a winner? Rigorous Financial analysis Plan of Action, e.g. what semester the course will be launched? Spell out desired features, attributes and requirements Objective Activities

Gate 3 : MONEY GATE Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery  Business Case : Product & project definition, Course Justification & Project Plan  Estimate of resources  Concept test data  Legal assessments  Strategic  Product Advantage  Market Attractiveness  Synergies  Technical Feasibility * Risk versus Return using Financial economic models like, NPV, IRR  Go / Kill / Hold / recycle  Plan of action for next Gate  Standing Gatekeeper Group Gatekeeper Criteria Deliverable s Output

Stage 3 : Development Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery Physical development of the course and Implementation of development plan Focus resources towards development of the Course contents Parallel processing with marketing teams and Faculty In house tests Seek constant Parents, students, instructor feedback Working models/ Mock class sessions Worship Time Line Update financials Objective Activities

Gate 4 :Go To Testing Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery  Marketing plan  Production plan  Distribution plan  Financial Analysis  Is the Course operating within the budget ?  Is the Course meeting its timelines ?  Is the Course meeting the parents/students needs better than the competition?  Is the developed course consistent with the original definition ?  Go / Kill / Hold / recycle  Standing Gatekeeper Groups Gatekeeper Criteria Deliverable s Output

Stage 4 : Testing and Validation Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery Extensive validation of the service and project Preparing for the launch Validation of course quality Continuation of In-house testing End-User trials of the service - Ensure students’ acceptance Trial sell - Find out modifications if required Revised financial analysis Update marketing & production plan Prepare a launch plan Objective Activities

Gate 5 :Go To Launch Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery  Market potential & interest of buying the service  Forecast of sales volume in terms of students  Is the course ready for launch ?  Is the expected financial return considerably high?  Has the course been reviewed thoroughly ?  Have the modifications required as per students survey have been made ?  Are all processes & resources in place for the launch?  Does the testing of the course confirms student satisfaction ?  Go / Kill / Hold / recycle (The operations & marketing plans are reviewed and approved for implementation in stage 5 )  Standing Gatekeeper Groups Gatekeeper Criteria Deliverable s Output

Stage 5 : Launch Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery Implementing the marketing & operation plan for launch Timing is everything Advertising PR Direct mail Website Production, promotion & Sales Objective Activities

Post Launch Review Stage 1 Gate 1 Gate 2 Stage 2 Gate 3 Stage 3 Gate 4 Stage 4 Gate 5 Stage 5 Post Launch Review Discovery Assess effectiveness of process to deliver objectives Review costs Review profits Review Strengths Review Weaknesses Review project & product performance Objective Activities

“ Do Projects Right, Do The Right Projects ” -Robert G. Cooper