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files (5)Week16Seminar12A21.pptx
Week9LectureCreatingOrganisationalContexts1.ppt
Week9SeminarCreatingOrganisationalContexts11.ppt
- Week16Lecture12A2Intro1.pptx
- A2BriefENTE3506_520_232421.docx
Week16Seminar12A21.pptx
ENTE3506 Seminar 12 Week 16 Assignment 2
By Zairah Hussain
Introduction to assignment structure and criteria
Assignment 2
Due on Tuesday 2nd April 2024 @12.00pm GMT time zone
50% of your overall grade
1500 words (+/- 10%)
A minimum of 15 academically credible references
Essay structure
Assignment 2 Essay Question 1
Essay Question 1- Culture & Creativity
Within the theoretical framework explaining that creativity and innovation are a product of person-environment interactions (Kwan et al., 2018, p. 167), some empirical studies arguably concluded that certain Hofstede (2011)’s dimensions of national culture influence an individual’s creativity and innovation.
Using two big names in the world of innovation, Jack Ma and Jeff Beszos as reference to the Eastern and Western cultures, explain how dimensions of national cultures can affect a person’s creativity/innovation. OR
Using Aliko Dangote or any other Forbe-listed African entrepreneur as reference to national cultures in Africa, explain how the convergence of Western and Eastern cultures can shape a person’s creativity/innovation.
References
Hofstede, G. (2011). Dimensionalizing cultures: The Hofstede Model in context. Online Readings in Psychology and Culture, 2(1), 2307–0919. http://scholarworks.gvsu.edu/orpc/vol2/iss1/8
Kwan, L. Y. Y., Leung, A. K. -y., & Liou, S. (2018). Culture, creativity, and innovation. Journal of Cross-Cultural Psychology, 49(2), 165–170. https://doi.org/10.1177/0022022117753306
Assignment 2 Essay Question 2
Define the concept of crowd Sourcing. Choose and define one or more crowd sourcing model and applying it to a business case study of your choice - analyse the successes and failures of its incorporation. Advise on future crowdsourcing method opportunities for your chosen case study and justify why these methods should be incorporated.
Finance students optional question
Additional Optional Essay Choice for Business and Finance (BAF) Students:
Crowd funding platforms are an effective alternative to banks for raising money. Using a case study of your choice, analyse to what extent this statement is accurate.
Finance Students ONLY!
INTRODUCTION (10%)
Introduction shows planning, aims and sources to be used in main body of essay.
EVIDENCE OF RESEARCH (20%)
Quality of definitions and references. Demonstrate the use of diverse sources cited within the text. A reference list of a minimum of 15 credible sources. Harvard referencing seen in line with De Montfort University Harvard Business Guide.
ANALYSIS (20%)
The quality of analysis should be demonstrated. Present theoretical concepts based on the field. The essay be clearly situated within the current debates to evaluate the arguments presented within the existing literature area.
ILLUSTRATION (15%)
Q1 Draw on case study countries –to illustrate the impacts of culture on creativity.
Q2 Draw on business cases to illustrate how existing businesses have been able to use the concepts.
OVERALL IMPRESSIONS (20%)
Fluid structure to essay, which laterally builds upon the research, through to analysis and where appropriate offers recommendations from findings.
Creativity (15%)
Independent and creative essay planning and research choices, show that the author has been devised their essay, which expands the boundaries of the taught lessons. Independent design through case examples and research choices.
Marking Criteria
Introduction to Assignment Topics
Take 15-20 minutes to discuss and research all you know about these topics.
Group 1- What do you know about?
Culture
Creativity
Innovation
Group 2- What do you know about?
Crowdsourcing
Crowd creation
Crowd funding
Crowd wisdom
Crowd voting
Activity
Can you think of any theoretical concepts/ key terms related to the topics.
Now share you ideas with the other group
Make notes when researching your topic
Make notes when the other students are explaining their topic
Every one in the group has to present something so make sure you’ve got something to say.
Based on this activity- Do you have an idea of which question you will answer?
We will go through both topics over the coming weeks so don’t worry if you do not know yet, it’s better to make a decision when you have all of the information.
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Week9LectureCreatingOrganisationalContexts1.ppt
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Creative Management and Marketing
ENTE 3506/BLEX 3006
Lecture 8
Creating Organisational Contexts
Outline
- Strategic Alignment of Blue Ocean Strategy
- High Performance and Sustainability for Blue Ocean
- Three Propositions
- Value
- Profit
- People
- Comic Relief Strategic Alignment
- What happens when a strategy is not properly aligned?
- Putting it all together (Napster Vs Apple)
Blue Ocean Sustainability
Achieving Strategic Alignment with 3 Strategic propositions
Value Proposition
The reason people will use your company
What are you offering them? Why do they want to buy from you?
Comic Relief’s value proposition:
Attracts customers/donors by compelling them to “fun”draise
Gets everyone involved by having a national day of whacky community fun
Ex. Red Nose Day or sponsoring silly antics of friends, family, or colleagues
Achieving Strategic Alignment
Profit proposition
Very simple premise: Maximize revenues while simultaneously keeping costs as low as possible.
Comic relief did a very good job of this:
Used volunteer workers to work their different fundraising events.
With each donation, a red nose was handed to the donor, giving them something to take home. Subconsciously increased value, motivating people to donate, increasing revenues, meanwhile the red noses were extremely cheap to make, keeping costs down, maximizing profit.
People Proposition
Motivating people requires overcoming organizational hurdles, winning peoples trust, and aligned/fair incentives.
Have to inspire people with the value proposition
Get everyone actively involved to be part of the strategy
Ignoring the people proposition results in execution failure
Ex: Comic relief
Everyone enjoys their involvement and feels like they are making a change
When a Strategy is not properly aligned
Tata Motors
Value proposition
Profit proposition
Cost innovations in design, manufacturing and marketing
Two-cylinder rear wheel drive, fuel efficient, interior space without size increase, door handles, four door
Miss aligned people proposition
Putting it all together
“closing the loop between creating and capturing blue oceans allowing it to act as a high performance and sustainable strategy”
Value Proposition: Attracts buyers
Profit Proposition: Allows the company to make money
People Proposition: Motivates people to work hard
Blue Oceans encompasses both differentiation and low-cost strategies.
“If a strategy does not fully develop and align with the three strategy propositions, short-lived success or failure typically results” - Execution failure
Example: Napster vs Apple iTunes in the digital music industry
Sources and References
W. CHAN KIM; MAUBORGNE, R. Blue Ocean Strategy: FROM THEORY TO PRACTICE. California Management Review, [s. l.], v. 47, n. 3, p. 105–121, 2005. DOI 10.2307/41166308. Disponível em: http://search.ebscohost.com.proxy.library.dmu.ac.uk/login.aspx?direct=true&AuthType=ip,shib&db=bsu&AN=17070054&site=ehost-live. Acesso em: 13 nov. 2020.
Kim, Chan (2005). Blue Ocean Strategy. Boston: Harvard Business School Press. ISBN 1591396190
Slides design is partially based on the slides by Berkley Stell, Tiffany Jesko, Eric Baker, and Joshua Benjamin
Week9SeminarCreatingOrganisationalContexts11.ppt
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Creative Management and Marketing
ENTE 3506/BLEX 3006
Seminar 9
Creating Organisational Contexts
Overview of the Session
- Recap of last weeks seminar
- Recap on Value Proposition from Lecture
- A compelling Tagline
- Creating your Blue Ocean Tagline
Achieving Strategic Alignment with 3 Strategic propositions
Renewing Blue Ocean Strategy
The process of Blue Ocean renewal is key to ensure that the creation of blue ocean is not one-off occurrence but is institutionalised as a repeatable process in organisations.
- Barriers to Imitation:
- The alignment barrier
- The cognitive and Organisational Barrier
- The Brand Barrier
- The economic and legal barrier
The secret to renewal is in ‘Monitoring the Value Curves which will signal when to value-innovate and when not to. (Kim and Marbogne, 2015)
What is a Value Proposition?
Value proposition- The utility buyers receive from offering minus the price they pay for it
(Kim and Mauborgne, 2015)
Key Elements of a Good Value Proposition
- Who is your customer? Who is the value for?
- What problem are you solving for the customer?
- What is your solution and how is it helping to solve the problem?
- What are your differentiators?
In groups discuss:
- What is a value Proposition?
- Why is it important?
- Have a clear-cut tagline
Effective taglines are easier to come by when your company has a blue ocean strategy, because you are competing on something different than your other competitors
- It must be truthful
An untrue tagline will lose your customers trust
A Compelling Tagline
TOP 50 Famous Brands Slogan and Taglines
- https://www.youtube.com/watch?v=Zq2_fl_q5Y8
- Airbnb: "Belong Anywhere."
- Wal-Mart… “Save Money. Live Better”
- Red Bull… “ Gives you Wings”
- Nike: "Just Do It.“
- Dollar Shave Club: "Shave Time. Shave Money."
- Coca-Cola: "Taste the Feeling.“
- Apple: "Think Different."
- BMW: "The Ultimate Driving Machine."
More examples of good Taglines.
Eliminate:
Tough terminology and distinctions
Aging Qualities
Above-the-line marketing
Raise:
Price versus budget
wines
Retail store involvement
Create:
Easy Drinking
Ease of Selection
Fun and Adventure
Reduce:
Wine Complexity
Wine Range
Vineyard Prestige
Casella tagline: “ Easy to drink, accessible to all’
Tagline: Southwestern Airline
3-steps for Creating a tagline
Write down your entire blue ocean offering in a few sentences
Trim it down
Trim it down to under a sentence.
Tips:
Make it easy to remember
Give it meaning –Link it to your brand-product/service
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Activity 1: Create your Blue Ocean Strategy (10 min)
(Blue Ocean Strategy – chapter 2)
- Reflect on your Blue Ocean Idea, and look at the CSFs, particularly ‘Create’ and ‘New customers’, you also need to check your ‘Target customer’ for the blue ocean industry.
- Use this to create a ‘Compelling Tagline’ for your Blue ocean Strategy.
- Be ready to share your TAG LINE with the rest of the class
Activity 2:
Discuss your ideas, in small groups, to try to develop them…….
Activity 3:
Share your Tag Line with the rest of the class…
Still struggling to create one? This is when the whole class can help you….
Questions?
