...leader’s role in designing systems for fostering creativity and innovation in an organization Objectives of the Assignment ▪ To show ability in finding facts and defining the problems for the purpose of establishing the framework for idea generation. ▪ To display the competencies of using the creative tools and techniques for idea generation. ▪ To exhibit the competencies in evaluating ideas and making comparison against available alternatives. QUESTION You are Product Development Manager of an existing company that manufactures consumer products. The company plans to introduce a new product and sustain their competitive position in the market. As such, you are assigned by the company’s CEO to come up with a new product offering and present a proposal of the new product concept that appeal to the market. Your proposed product concept needs to be realistic and marketable within five (5) years. It is important that your product concept be able to show how innovative in comparison to the available alternatives in relation to Building security and control system. Source: http://theconstructor.org/building/building-security-control/6973/ In addition, the value it can specifically provide to the targeted market. You are required...
Words: 1937 - Pages: 8
...Business Description…………………………………………………………….5 V. Description of Proposed Product………………………………………………..6 VI. Definition of the Market…………………………………………………………7 VII. Organization and management descriptions………………………………….8 VIII. Marketing Strategies………………………………………………………….11 IX. Financial Management……………………………………………………………12 X. Appendixes…………………………………………………………………….12 XI. Plan Updating Check List………………………………………………………15 Executive Summary Find Your Gadget, Inc. is the name of the new S corporation I started to introduce my invention product “Ring – in Finder” to market. The industry is huge and the market is big and after researching the market, I found that there is a big demand for this type of product. Being difficult to fund the start – up my business; my best choice is to look for venture capitalists to adopt the idea and support my business financially and help me with the best management strategies advice to reach my goals and succeed with my venture. Convincing venture capitalists requires a solid business plan to be presented with an educated request for funding supported by backing evidence that my idea is marketable, a study of target market and target customers showing their acceptance to the idea. I started my business plan with the description of my business, description of the company’s structure including how many managers and how many number of employees, description of my product idea, a study...
Words: 3510 - Pages: 15
...[pic] BUSINESS IDEA [Version 2.1/160708/TeDD/MDeC] Content | | | |Section 1.0 EXECUTIVE SUMMARY……………………………………………. |1 | |Section 2.0 PRODUCT AND SERVICE DESCRIPTION……………………….. | | | |1 | |Section 3.0 TECHNOLOGY DESCRIPTION………….………………………… | | | |1 | |Section 4.0 MARKET AND COMPETITION……………………………………. | | | |2 | |Section 5.0 BUSINESS MODEL………….………………………………………. | | | |2 – 3 | |Section 1.0 EXECUTIVE SUMMARY ...
Words: 1001 - Pages: 5
...convergence thinking, to the more artistic and emotional divergence thinking. In the first paragraph a brief description of the product, chosen country, and the entry strategy will be given. In the second and third paragraph a description and explanation of the strategies, as well as, an explanation what we have learned/how we have used these different strategies/techniques in the progress of our project, will be given. Lastly, each group member will individually provide feedback on what they have learned from using these techniques. Table of Content: Product Description: 4 Strategies taught during the ‘Challenge Day’ 5 Applied techniques: 6 Individual Feedback/input: 7 Product Description: The product which we are going to export is Campina’s Yoghurt drink; Vifit. Vifit is a Yoghurt based breakfast replacement drink which contains the special compound LGG, a ‘friendly’ bacteria which aids the body’s natural resistance against viruses and harmful bacteria, in addition to providing all the nourishment needed for a healthy start of the day, or providing that little bit extra for people with an active lifestyle. Through our macro and market analysis we came to the conclusion that out of the three assigned countries, Norway was the most suitable for the introduction of Vifit. This, due to the active lifestyle of the Norwegians, and a large potential market. As Vifit is a healthy breakfast replacement drink, we aim to advertise it as such. At the introduction phase...
Words: 1026 - Pages: 5
...BTEC NATIONAL IN BUSINESS (MANAGEMENT) Unit 37 – Starting a Small Business Assignment 1 – Present your business idea This task assesses P1 Present the initial business idea using relevant criteria Signed (IV) _________________________________ Print Name__________________________________ This unit is all about starting your own small business. The assignments will take you through the planning process in order to complete your own small business plan. This may be a business you are thinking of starting in the future. To complete this assignment you should think of a business idea that you will be able to research and plan for. It should be realistic. You will present your idea to an assessor and some of your class mates. |P1 |Task 1 | | | | | |You should consider whether your business will be new, a franchise or whether you are going to buy an existing | | |business. Your bank manager has asked for your thoughts on this before he/she makes an appointment to discuss your | | |plan. | | | ...
Words: 1975 - Pages: 8
...organization or team attempting to reach those goals. Guidelines A business plan should conform to a generally accepted guideline regarding its form and contents. Each section should include specific elements and address relevant questions that the people reading this plan will most likely ask. Generally, a business plan has the following components: A. Title page and contents B. Executive summary C. Business description D. Business environment analysis E. SWOT analysis F. Description of the product or service G. Market analysis H. Marketing plan I. Competitive analysis J. Operations and management K. Financial components L. Supporting documents – attachments and milestones Typical addressed questions by the business plan: * What problem does the company's product or service solve? What niche will it fill? * What is the company's solution to the problem? * Who are the company's customers, and how will the company market and sell its products to them? * What is the size of the market for this solution? * What is the business model for the business (how will it make money)? * Who are the competitors and how will the company maintain a competitive advantage? * How does the company plan to manage its operations as it grows? * Who will run the company and what makes them qualified to do so? * What are the risks and threats confronting the business, and what can be done to mitigate them? ...
Words: 1560 - Pages: 7
...BIG IDEA PRESENTATION SUGGESTED POWER POINT SLIDES There should be approximately six Power Point slides per presentation. 1) Intro Slide: Business Concept name, Team members’ names (first & last) Date 2) Statement of the Big Idea (simple product description): In as few words as possible, define your product idea (e.g., Wrenchead.com sells auto parts to consumers and professionals over the Internet.) 3) Product Description You can add more detail about your product: F.I.S.T. What differentiates your idea from the competition (e.g., odd-numbered mismatched socks, chauffer service that gets you and your car home safely, ice cream shaped like a hot dog that can be accessorized)? Paint a picture of how and why customers will be attracted to your product. 4) Value Proposition Highlight what benefits your product will bring to the customers, whether they are specific TJX stores or TJX end-use customers or both. How will it increase earnings or cut costs? The critical difference between the Product Description and the Value Proposition is data: “Show me the numbers.” Supply some quantitative data that supports the feasibility of your business. Find facts and figures that show the size of your potential market, their disposable income, the projected growth of a particular market niche, etc. Cite industry analysis, if appropriate. Use a graph or pie chart to highlight the data. For example, in the case of LittleMissMatched, the Value Proposition would focus...
Words: 316 - Pages: 2
...than they would be able to verbally. Kurt and John are individuals that want to launch a magazine in Eastern Europe. The business idea is a sound idea however Kurt and John are unsure if the current business plan that they have will spark the interest of any investors. Kurt and John are looking for some assistance with the business plan how they can improve the one that they currently have. Business Plan Outline When creating a business plan there a number of things that need to be included in the business plan to insure the success of business. The first thing that needs to be included is the executive summary. The summary will be an overview of the intents of the business. The executive summary basically is a short version of the business proposal. The executive summary should be informative; generally when investors look at a business plan the first thing that is read is the executive summary. Investor normally can tell from the summary if they are interested in the business. In the Kurt and John Bauer case they would need to include how they want to launch a business in Eastern Europe and the different strategies plans for an international business A business plan should also include a description of the business. The business description needs to be extremely descriptive do not assume that the reader will fill in the blanks. The description should include the legalities of the business such as if the business will be a sole proctorship or a partnership. It should also...
Words: 1058 - Pages: 5
...Front Desk Job Description Front desk job description involves greeting and welcoming guests or clients, answering their queries, providing them with necessary information and maintaining records, receiving payments, etc. They are also responsible for promoting various offers and services of the organization they are working with. Front desk agents are the face of the company, hotel or hospital. They are the first ones to greet business associates, guests, patients, etc. Front desk job is an important job, because the impression one has about a particular place will depend on interaction one had with the front desk official. A rude, haughty front desk official will spoil one's impression about the place entirely. Thus, the primary role of a front desk official is to present the organization in the best possible manner. Front desk job description or receptionist job description will vary from one industry to another. An operations supervisor has many different functions in many different career fields. The main responsibility of an operations supervisor is to ensure that the processes and employees working under him are working smoothly and efficiently. An operations clerk handles office duties for a company’s top executive. Sounds simple, but the responsibilities of an operations clerk are vital in helping a company run smoothly. Operations clerks answer phones, greet clients, schedule appointments, type reports and letters written by chief officers, and handle an array...
Words: 1504 - Pages: 7
...Idea Generation Idea generation is based on the interrelationships between: Company Product Consumer Idea generation is knowledgeable, creative and systematic. It develops from knowledge of the consumer, the market, the technology and the general environment, and it creates newness in product, production and marketing. It systematically develops product ideas to satisfy the aim of the project and therefore the business strategy. Our basic idea was generated brainstorming on the solutions to Hair Loss problem faced by many people in their daily life; we come up with different alternative Like Jojoba Oil, Shampoo etc. As our project's aim was established i.e to prevent hair loss problem, ideas came from free brainstorming, from systematically studying how the consumer may use the product, and from developments in technology, the industry and the market. These ideas are qualitatively screened so that they agree with the project aims and constraints, using a simple but disciplined system of judging. The selected ideas are developed into descriptions of the product and the target markets, and are further reduced in number by a more complex screening method such as checklist screening and economic evaluation. Then there is the development of the product idea concepts by the consumers, where the idea generation focuses on the product benefits; the consumers and company staff gradually reduce the number of product ideas and build more detailed product...
Words: 962 - Pages: 4
...Executive Summary A new idea has been developed to create a new product. The name of the proposed product is Multipurpose Paper shredder. This product is an upgrade version of paper shredder which is used in the offices for shredding purposes. This ‘Multipurpose’ Paper has upgraded into double functions such as shredding and briquetting.. The main target market of this product is adults.. One of the objectives of using Multipurpose Paper is to encourage Malaysian Citizens to work in the safe and convenience environment and to use at home and office. Problem Statements, idea generation, product concept description, idea evaluation are made to defining problems in specific ways and how to develop idea to generate a new product. The idea evaluation also helps to maximize the supporting factors and minimize the restricting factors (scribd, 2014). Part 1 A. Problem Statement In today’s office, a lot of sensitive information handling daily from one hand to another hand.. One of the problems that will be faced by the employee is their fingers will be shredded together with the paper in the shredding machine. Cleanliness and maintenance are also an issue because they found difficulties to clean after the shredding process. Another constraint which faced by the employees is maintenance. The employees should send to the authorized technical center to repair this shredder machine. The negative impact is, employees work will be delayed and the secret data will be stole by unauthorized...
Words: 2680 - Pages: 11
.............................................................. 2 2.2 Relevance ......................................................................................... 2 3. Requirements on an innovation management ........................................ 3 3.1 Process models ................................................................................ 3 3.1.1 Phase model according Meiren .................................................. 4 3.1.2 Iterative model according Shostack and Kingman-Brundage .... 5 3.1.3 Conclusion and improved model ................................................ 5 3.2 Innovation registration....................................................................... 7 3.2.1 Idea identification...
Words: 4465 - Pages: 18
...Bratkovič Course Description The course provides an overview of the entrepreneurial process and is designed to give students an in-depth understanding of different aspects of entrepreneurship. The issues addressed in class will focus on psychological and sociological views of entrepreneurship, the identification of opportunity, entrepreneurial networks, corporate entrepreneurship and international entrepreneurship. Through a combination of lectures, case analyses, in-class discussions and exercises, the students will develop the knowledge and skills necessary for writing and presenting a business plan. |Course timetable |Topics | |Class 1 |Brainstorming session – selection of business idea (1) | |Class 2 |Brainstorming session – selection of business idea (2) | |Class 3 |Psychological and sociological views of entrepreneurship | | |Market opportunity and market analysis | |Class 4 |Entrepreneurial networks | | |Product or service, company description ...
Words: 291 - Pages: 2
...as giving potential investors an idea of the company structure, goals and future plans. What are the parts of a Business Plan? The following information is taken from the "Business Plan Development Guide", written by Alex F. DeNoble and Audrey B. Voyles. Section 1 - The Executive Summary The purpose of the executive summary is to capture the interest of the investors/lenders so they will want to find out more about the venture. These investors are likely to spend no more than 3 to 5 minutes before making a preliminary decision about your proposal. Therefore, this section is first, and in some ways is most important. This section should emphasize key issues and be no longer than 2 to 3 pages. The following information should be addressed in the executive summary: * Company profile * Nature of the product/service being offered * Size and growth trend of the market * Make-up and background of the management team * Financing requirements * Key projections (sales, gross profits, net income) * Proposed use of funds * Proposed exit strategy including projected ROI The executive summary is written last, after the rest of the plan is completed. Section 2 - Business Description This section of the business plan should provide the reader with a more detailed overview of the company and the nature of the product/service offering. It should include the following: * Mission Statement * History behind the idea or current business * Company's...
Words: 816 - Pages: 4
...Business Plan Background Jane and John had a good idea, a good sense of their market, and a good location. They were great salespeople, and yet they were not making a profit. The reason was that they did not plan their business all the way through. When you are serious about your business or when a lot of money of your own or someone else's is at stake, creating a business plan is perhaps the most critical activity you can undertake. The plan is important, but what is even more important is the understanding you get from the planning process. The following pages will help you understand the thinking behind business plans and how to make and present your own. A business plan is a document designed to detail the major characteristics of a firm--its product or service, its industry, its market, its manner of operating (production, marketing, management), and its financial outcomes with an emphasis on the firm's present and future. There are two circumstances under which creating a business plan is absolutely necessary. One is when outsiders expect it. This is called external legitimacy. Creating a business plan is the acknowledged best way to build external legitimacy for your firm. When you are seeking outside support--whether financial or expert--you do a business plan to signal your professionalism and how serious you are about the business. Investors, whether they are venture capitalists, informal investors (called angels), bankers, or your two great aunts, are going to expect...
Words: 10997 - Pages: 44
