Adeyl Khan, Faculty, BBA, NSU 1

Sorting, Categorizing, Rating and Evaluating a large quantity of ideas. Simple checklists To complex weighted scoring systems

Adeyl Khan, Faculty, BBA, NSU Objective finding - define the problem area Fact finding - gather information Problem finding - define the problem correctly Idea finding - generate solutions to the problem Solution finding - evaluate and choose between Acceptance finding (divergent)

Adeyl Khan, Faculty, BBA, NSU Rating and evaluating ideas  Recurrent problem- how to market books.  1. More effort could be put into employing additional sales representatives to call on universities and colleges  2. On the other hand, efforts could be directed towards developing and marketing a website. 4

Adeyl Khan, Faculty, BBA, NSU Rating and evaluating ideas …  Various ways of evaluation  Financial effectiveness of the two approaches (generating extra revenue )  Choose the option or possible combination of the two options that will produce the highest expected financial pay-off.  However, relying on such an approach alone may be unsatisfactory  uncertainty surrounding the financial costs and benefits associated with the two options or their various combinations.  Non-financial criterion? 5

Adeyl Khan, Faculty, BBA, NSU Rating and evaluating ideas …  Non-financial criteria and evaluate each idea  A scale of 1–10 (10 being ‘good’ and 1 being ‘poor’).  Increasing awareness, interest, knowledge of products and services. Of course, as with all rating scales, complications then arise as to how one weights the different criteria since some may be considered to be more important than others.  More offering using reverse brainstorming.  list the options available and brainstorm the difficulties  problems identified and try to come up with possible solutions to these problems. 6

Adeyl Khan, Faculty, BBA, NSU Rating and evaluating ideas …  Identify the practicability of implementing each option in addition to the financial costs and benefits  These are some of the key issues to consider.  How does one decide that one idea is better than another?  What criteria does one use to make such evaluations?  How does one equate one thing with another? 7

Adeyl Khan, Faculty, BBA, NSU Rating and evaluating ideas …  For example, two projects offer different financial benefits, so  should one consider the one with the better financial prospect?  What about risk?  What about non-financial benefits?  How does one measure many of these things?  Are some of the criteria more critical to the success of the project than others?  All these kinds of things have to be taken into account when evaluating projects or ideas. 8

Adeyl Khan, Faculty, BBA, NSU Sorting aluminum foil application ideas  Ideas written down on a sheet of paper  Then examined for those that looked interesting (highlighting), and the remainder were discarded.  The remaining ideas were then grouped according to different hotspots or themes.  An idea could be appended to more than one hotspot or theme (indicated by the entries in brackets). 9 Textbook- Page 213/214

Adeyl Khan, Faculty, BBA, NSU Advantages-disadvantages tables  Simplest method by comparing  how we should reorganize the office  method A  method B  Criteria against which we want to compare and evaluate the ideas. The same criteria are used for both of the options  space is left to indicate whether the idea was rated as having predominantly advantages or disadvantages when considered against those criteria. 10 Evaluation Methods

Adeyl Khan, Faculty, BBA, NSU Advantages-disadvantages tables …  A rough evaluation tool  preliminary screening device  too many limitations  assumes that all the criteria carry equal weight and  overall score that is important compared to critical factors 11

Adeyl Khan, Faculty, BBA, NSU PMI: PLUS/MINUS/INTERESTING  It is a development (by Edward de Bono) of the ‘pros and cons’ technique used for centuries.  One simply draws up a table headed Plus’, ‘Minus’ and ‘Interesting’.  In the column underneath the ‘Plus’ heading one writes down all the positive points of taking the action. Underneath the ‘Minus’ heading one writes down all the negative effects. In the ‘Interesting’ column one writes down the extended implications of taking the action, whether positive or negative. 12

Adeyl Khan, Faculty, BBA, NSU PMI 13

Adeyl Khan, Faculty, BBA, NSU The Castle technique  Evaluating a large number of ideas and is made up of four steps:  A time-limit for the exercise should be set – say,1 hour.  Three criteria are used to evaluate each idea  acceptability (the extent to which it leads to a satisfactory solution)  practicality (the extent to which it satisfies financial and time constraints) and  originality (the extent to which it makes a significant improvement on the status quo). 14

Adeyl Khan, Faculty, BBA, NSU The Castle technique …  Evaluating a large number of ideas and is made up of four steps:  Each participant in the evaluation exercise has the same number of votes as there are ideas.  Participants are instructed to vote for each idea with either a ‘yes’ or a ‘no’ vote. One vote per idea per individual is allowed.  The two ideas which receive the highest number of positive votes (number of ‘yes’ votes minus number of ‘no’ votes) are then combined into one idea. 15

Adeyl Khan, Faculty, BBA, NSU Sticking Dots  Small group of individuals  Each group member has a fixed number of votes (usually these are physically represented in the form of self-adhesive colored dots).Group members can then vote in any way they wish. 16

Adeyl Khan, Faculty, BBA, NSU Creative Evaluation  Dealing with a large number of ideas.  All ideas are evaluated in terms of time and financial requirements  1List the ideas.  2Categorise the ideas into simple, hard and difficult. (expenditure) 17

Adeyl Khan, Faculty, BBA, NSU Force-field Analysis 18

Adeyl Khan, Faculty, BBA, NSU Weighting Systems  Generate evaluative criteria.  Assigns different weighting for each criterion reflecting its importance with respect to the problem under consideration.  Each idea is rated on the degree to which it satisfies each criterion.  Multiplies the criteria-importance rating one has assigned to obtain the rated score.  Weighted scores are then summed to obtain an overall weighted score for each idea or theme. 19

Adeyl Khan, Faculty, BBA, NSU Weighting Systems … 20

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Adeyl Khan, Faculty, BBA, NSU Chapter 10 Evaluation Sorting Evaluation Advantage-disadvantage tables Plus/Minus/Interesting Castle technique Sticking dots Creative evaluation Force field analysis Weighting systems Choosing Qualitative evaluation: reverse brainstorming Financial/mathematical evaluations Creative evaluation Pay-off tables Decision trees 22

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Adeyl Khan, Faculty, BBA, NSU Sorting And Evaluation 24 Sort Ideas under the headings of themes or groupings Use hits and hotspots as a method of identifying themes and groupings Eliminate generally unattractive groupings or themes from further consideration Use relatively simple evaluation methods such as: Advantages- disadvantages Plus/Minus/ Interesting Castle technique Sticking dots Creative evaluation Force Filed Analysis Weighting Systems or a more sophisticated evaluation system such as Use qualitative analysis to select the final ideas for implementation Use Reverse Brainstorming Where appropriate use mathematical/ financial evaluation

Adeyl Khan, Faculty, BBA, NSU 25 Sorting

Adeyl Khan, Faculty, BBA, NSU Evaluation  Advantage-disadvantage tables  Plus/Minus/Interesting  Castle technique  Sticking dots  Creative evaluation  Force field analysis  Weighting systems 26

Adeyl Khan, Faculty, BBA, NSU Choosing 27