October 05, 2005

Final project groups ...

Don't forget to post a comment listing the members of your group for the final project (or a note saying you intend to fly solo, if that's the case). That's due today (10/5). Post those notes here.

Posted by Bob Benz at 09:06 AM | Comments (3)

September 17, 2005

Final project rosters

By Oct. 5, post a comment here to let us know if you'll be working alone or in a group on your final project. If you're a group, please list all members of the group. For final project tips, click here.

Posted by Bob Benz at 12:31 PM | Comments (6)

Final project paint by numbers

I realize your final project (“Strange Bedfellows”, see syllabus) is somewhat vague. But that's the way it often works when you're trying to pitch your ideas in the "real world." There isn't necessarily a strict format you follow when you're trying to convince senior management to follow your recommendation.

But despite this, here is a "paint by numbers" approach to the final project. This will help you cover key items that will need to be addressed as you present to your board of directors.

  1. Introduction: Set the scene and explain the competitive landscape and issues that we're facing as a business.
  2. Discuss several possible options for addressing the problem (in this case, we're trying to decide if we should partner with or compete with another site in our market).
  3. State your proposed solution.
  4. Explain how your solution will deal with content/audience.
  5. Explain how your solution will deal with advertising.
  6. Explain how your solution will address marketing.
  7. Sum up why, given the above points, your solution is the best business case. Convince the board this is the direction to take.

In items 4-6, you should be drawing on things we're discussing in class to bolster your argument. You need to be laying out strategy in the context of what you're proposing.

For instance, if you're proposing the sites remain separate and you compete aggressively, you'll be explaining why it makes more sense from a content, advertising and marketing perspective to pursue this route and how our company will be better off for having done so.

Now the critical part. How long should it be?

That's up to you. But know this: The average senior executive has the attention span of a gnat. I would keep the written version of this as concise as possible. I'd favor bulleted lists over verbal flourishes. Think memo, not treatise. I guarantee you we will be grading these based on how well you argue, not how long you argue.

You also will need to present your recommendations to the board. This is where the rubber hits the road. Again, long, rambling presentations will have the board members reaching for their Blackberries and answering e-mails rather than listening to you.
Follow the outline you laid you in your written proposal. In addition:

The real test here will be when the board asks you questions about your proposal and challenges you on assumptions you're making. Don't get rattled when a board member is disagreeing with you. Acknowledge his or her concerns. Explain that you considered that particular point. And here's why you don't agree and believe your course is the better option. This is about persuasion.

And finally, a note on working as groups vs. individuals. That's up to you.

If you work as a group, I want to be able to see the contribution each member of the group is making. Each member of the group needs to be responsible for delivering a section of the proposal. You will be graded as a group, not as individuals. So you'll be only as strong as your weakest link. But I'll also take the group dynamic into account when I'm grading. In other words, I'll cut groups some slack if there are a few rough edges in their presentations. In the "real world," you will find yourself working in groups more often than not in these situations. It's more difficult than operating alone, but it also has more value. Collaboration and playing well with others is a critical skill in the business world.

If you work as an individual, you will succeed or fail based on your own work. That's an advantage in some senses, but a disadvantage because a group has the ability to challenge assumptions and think problems through from a lot of different perspectives.

By Oct. 4, I would like you to post a note in this thread of the blog that tells us if you are going it alone or working in a group. Group should list all of their members. I'd like to know this in advance so I can figure out scheduling for the final presentations.

Posted by Bob Benz at 12:29 PM | Comments (0)