1. What Initiatives and idea did you choose and why? How did you feel about choosing external versus internal initiatives? (Hint: you should analyse and evaluate the rationales for your decisions)
I have chosen 3 different initiatives based on the availability of budget and time I have and based on external and internal problems. The first initiative is “A boot camp characterized by an internal team form different departments” this will take about 3 weeks and 15,000 to achieve the intended purpose. This initiative was the best choose for me I felt that to gather the best employees from the company and try to come up with best solution was the most relevant initiative. The firm allocated a budget making it the most expensive initiative carried out and a reward price was awarded to the top three most creative ideas from the team. Second in order was “Post questions to The Citizen Sun social media followers “ I chose this initiative a part of solving a problem is to ask the customers what they needs and what they want to improved, by doing this we could solve the main issues like if we know what the costumers want we can work on it and as a result we will have new customers and we will not lose our old customers. The second reason of choosing this initiative is to get close to the customers who are using digital and print news. As showing in the background of the citizen Sun company 32% of the customers are using digital and print news which are high number who could help to get some relevant ideas to improve the issue of web traffic. The third initiative is “Run a special project with leading advertisers” I felt the to come up with special project and work with the advertiser’s leader would solve the problem because the issue is all about ads revenue and when you work with the specialist of this problem they could figure out a new idea or a new innovation to get out of this problem.
As a product manager, I also analysed the overall impact of each initiative to the performance of the firm and came up with a well consulted decision which was to go with an idea in initiative one as follows. The final idea I chose was creating an innovative channel from a reputable video sharing website provided video editorials which helped capture the tech savvy audience. Combines trust-based sharing and collaborations with high level of expertise. This idea is effective as it has a manageable risk level and a cost that is relatively medium and can be incorporated into the business. The implementation of the idea used up only 72% of the budget. It is not time consuming. In order to incorporate this idea, different target audience, different approaches and innovations were effectively put into place.
2. How much influence did the original mandate have on your strategy and selection of initiatives and ideas? (Hint: You may use your original mandate to justify your decisions and discuss why you have chosen that particular initiatives and idea for solving the p ...
1. What Initiatives and idea did you choose and why How did you f.docx
1. 1. What Initiatives and idea did you choose and why? How did
you feel about choosing external versus internal initiatives?
(Hint: you should analyse and evaluate the rationales for your
decisions)
I have chosen 3 different initiatives based on the availability of
budget and time I have and based on external and internal
problems. The first initiative is “A boot camp characterized by
an internal team form different departments” this will take
about 3 weeks and 15,000 to achieve the intended purpose. This
initiative was the best choose for me I felt that to gather the
best employees from the company and try to come up with best
solution was the most relevant initiative. The firm allocated a
budget making it the most expensive initiative carried out and a
reward price was awarded to the top three most creative ideas
from the team. Second in order was “Post questions to The
Citizen Sun social media followers “ I chose this initiative a
part of solving a problem is to ask the customers what they
needs and what they want to improved, by doing this we could
solve the main issues like if we know what the costumers want
we can work on it and as a result we will have new customers
and we will not lose our old customers. The second reason of
choosing this initiative is to get close to the customers who are
using digital and print news. As showing in the background of
the citizen Sun company 32% of the customers are using digital
and print news which are high number who could help to get
some relevant ideas to improve the issue of web traffic. The
third initiative is “Run a special project with leading
advertisers” I felt the to come up with special project and work
with the advertiser’s leader would solve the problem because
the issue is all about ads revenue and when you work with the
specialist of this problem they could figure out a new idea or a
new innovation to get out of this problem.
As a product manager, I also analysed the overall impact of
each initiative to the performance of the firm and came up with
2. a well consulted decision which was to go with an idea in
initiative one as follows. The final idea I chose was creating an
innovative channel from a reputable video sharing website
provided video editorials which helped capture the tech savvy
audience. Combines trust-based sharing and collaborations with
high level of expertise. This idea is effective as it has a
manageable risk level and a cost that is relatively medium and
can be incorporated into the business. The implementation of
the idea used up only 72% of the budget. It is not time
consuming. In order to incorporate this idea, different target
audience, different approaches and innovations were effectively
put into place.
2. How much influence did the original mandate have on your
strategy and selection of initiatives and ideas? (Hint: You may
use your original mandate to justify your decisions and discuss
why you have chosen that particular initiatives and idea for
solving the problem
The original mandate has significantly impacted my strategy
and selection of ideas. It has given me a clear direction on tasks
and issue that the Citizen Sun has. It also featured guidelines
that helped me focus on strategy. The specific mandate given
out to me as a product manager by the CEO contained a time of
12 weeks to complete the job. Ads revenue would be increased
by selling targeted ads, using ad analytics, working with
different models of ad pricing, collaborating with many ad
networks, increasing traffic and changing things often. They
also provided a financial budget of 50.000 to cater for all
expenses. As much as internal initiatives have contributed to
solving some problems, I would go with external initiatives in
this case. Idea generation has greatly assisted in coming up with
innovative ideas that will move the company forward. Web
traffic would be increased by starting guest blogging, mixing
them up, getting social, inviting people to guest blog on that
5. Characteristics and example of Initiatives
Specialist (can develop high quality ideas, but can be limited in
the quantity and diversity)
E.g. Digital marketing expert
Venture (can be individuals, corporate entrepreneurs or small
internal teams able quickly identify, select and assemble
necessary recourses)
E.g. Internal venture groups
Network (combines trust-based sharing and collaborations with
high level of expertise, takes advantage of networking and
innovation system)
E.g. Special projects with leading advertisers
Community (open innovation, attracts large number of new
ideas for little cost)
E.g. The Citizen Sun social media followers (crowdsourcing
initiatives)
Innovation Mode Opportunities Challenges
Specialist
New design tools allow
advancing technology
Building capability
internally
New collaborative tools
can spur process
advances
Keeping superior
personnel
Venture
Novices and resource
constrained projects can
enter
Finding scalable
projects and markets
With new entrants, the
markets for new services
6. will grow
Design and
manufacturing
scalability
Community
Prospective customer
involvement
Establishing
sustainable and
scalable business
models
Traditional open
innovation benefits
Maintaining inflow
of new participants
Network
Bundling expertise
from different fields
Balancing external
and intrinsic
motivation
Improved product
solutions and process
efficiencies
Increasing systems-
level integration
Innovation Mode
Opportunities
Challenges
Specialist
New design tools allow advancing technology
Building capability internally
New collaborative tools can spur process advances
Keeping superior personnel
7. Venture
Novices and resource constrained projects can enter
Finding scalable projects and markets
With new entrants, the markets for new services will grow
Design and manufacturing scalability
Community
Prospective customer involvement
Establishing sustainable and scalable business models
Traditional open innovation benefits
Maintaining inflow of new participants
Network
Bundling expertise from different fields
Balancing external and intrinsic motivation
Improved product solutions and process efficiencies
Increasing systems-level integration