Ch 5 - D. H. Holt

The Product Concept and Commercial OpportunitiesDr. M. Tayyeb JavedHead ORICThis template can be used as a starter file for presenting training materials in a group setting.

SectionsRight-click on a slide to add sections. Sections can help to organize your slides or facilitate collaboration between multiple authors.

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1Products and Services

Macro trends in product development and micro issues of product innovation, opportunities for new products and commercialization of new products

22ObjectivesExplain why manufacturing is important in a free market economyHigh-tech, mid-tech and low tech productsExplain how products may be conceivedModel for product development and relation with paradigm for creativityDiffusion is critical dimension of product development33A Macro View Manufacturing Matters

Employment statistics???Direct labor as % of work forceContribution of GNP from direct manufacturing, services to manufacturing and transportation to manufacturingRole of manufacturing?The productivity shift

44ProfileNorman Borlaug Nobel Peace Prize Laureate(1970)Iowa farm boy, dreamed of improving the way farmer lived. The problem was low wheat and grain yields after WW IIThe answer was to improve productivity through new products that could withstand nature's challenges and also provide greater profits to farmers as incentive to produce more food.Agricultural productivity research, and he was instrumental in developing hundreds of vigorous strains of grains that could with stand harsh growing conditions

55Products and Technology

At both micro and macro levels of innovation, few products require exceptional sophisticated scientific knowledge.High-tech: Edisons light bulb, transistors, LED, LCDLow-tech: Clothing and Textile, Candies and Cookies, sunglasses, jogging shoes, coffee makerMid-tech: Fax machines, Cosmetics, Machine tool design

66Profile Bush IndustriesManufacturing of plastic bathroom accessories was at verge of extinction in 1980s . The life cycle for cheap plastic shelves had run its coursePaul Bush, son of companys founder had idea, fascinated by new microcomputers, VCRs and microwave ovens. He envisioned a line of furniture specifically designed for electronic age.Starting with defunct bank account, 73 employees who were owed back pay, and a musty factory.Bush repositioned the company in electronic furniture, working with native woods, plastics and new processes.In 1990s the firm have five manufacturing locations, a product line of more than 200 items and a workforce of 1200 employees.The turning point in Bushs mind was the realization that simple skills and materials could be used innovatively to solve everyday problems for consumers

7Identifying OpportunitiesIn a Free Enterprise System, markets arise for new products and services from wants and needs of consumers.FES: An economic system where few restrictions are placed on business activities and ownership. In this system, governments generally have minimal ownership of enterprises in the market place. This system aims for limited restrictions on trade and minimal government intervention.8Generating Product IdeasEvery person has tremendous experience with a wide array of products and services.We store knowledge far more complex and in quantities that far exceed the capabilities of even the most sophisticated computer system.Ideas trigger by reading catalog, newspaper ads, shopping trip, .9Mapping New IdeasMind-map: a method of brain storming in which a general idea is refined into components that represent markets, and from those components, product ideas are evaluated for their value to a particular customer.10Mind mapThe elements of a given mind map are arranged intuitively according to the importance of the concepts, and are classified into groupings, branches, or areas, with the goal of representing semantic or other connections between portions of information.Mind mapBy presenting ideas in a radial, graphical, non-linear manner, mind maps encourage a brainstorming approach to planning and organizational tasks.Mind mapMind maps are not spider diagrams.A mind map is a diagram used to represent themes of understanding linked a central key word or ideaMind maps are, by definition, a graphical method of taking notes. Their visual basis helps one to distinguish words or ideas, often with colours and symbols.They generally take a hierarchical or tree branch format, with ideas branching into their subsectionsKey features of mind mapsThe process starts around a central idea or pictureKey themes are established through branches with sub branchesKey terminology is usedSingle words or phrasesThemes are connected through coloursImages reinforce meaningIt allows you to freely associate and link ideasCharacteristicsMind maps are, by definition, a graphical method of taking notes. The visual basis of them helps one to distinguish words or ideas... They generally take a hierarchical or tree branch format, with ideas branching into their subsections. Mind maps allow for greater creativity when recording ideas and information, as well as allowing the note-taker to associate words with visual representations. HistoryMind maps (or similar concepts) have been used for centuries in learning, brainstorming, memory, visual thinking, and problem solving by educators, engineers, psychologists, and others.

UsesOrganizing Research InformationInformation from different sources can be compiled on a single pageBrainstormingGroupIndividual

UsesDaily Schedule of TasksTasks to be done at certain times of the day can be placed on a map like similar to points of a clockMotivational ToolStart picturing the project and its end result

BenefitsInformation can be inserted easilyCan be used during brainstormingItems can be mapped as thoughts occur or when new information is foundCan be converted to a standard outline

BenefitsMind Maps can reveal problemsMissing areas Lack of balancePresentationsMajor items can be easily referred toMore specific detail can be easily found

Benefits Added features through softwareLayout conversion to standard outlineIntegration with personal information management and project management softwareCalendar itemsTasksProject DiagramsInsert HyperlinksCreate PDFs and place on web pagesConstruction through web conferencing

Not just pretty picturesMind mapping is about the ability to analyse and make connections, to use knowledge effectively, to solve problems and think effectively. It requires skill to search out meaning and impose structure. It goes beyond learning information by rote and equips students to deal systematically with problems and adopt a critical attitude to argument and information.

A challenging techniqueMind maps provide a method of structuring note taking which moves away from extracting or re-working information. The creation of a mind map is challenging, creative and interpretative. It requires an interaction and understanding of new information which can be missing from conventional approachesWhy use mind maps?More brain friendly.The brain is capable of processing hundreds of images a second.The organisation reflects how the brain remembers, linking facts/memoriesEasy to reviewThe process of creating a mind map deepens learningHow to create a mind mapStart with a large piece of paper in a landscape position. Create a large colourful central imageCreate main branches for ideas in different colours ( use the same colour for sub branches)Use key words only and adapt the size of the word based on importance

Mind Mapping BasicsHow to create a mind mapUse images that remind you of the key topics ( you dont have to be an artist)Use arrows and symbols to connect ideasLeave space to add to your mind mapFind a style which works for you. Mind Map PresentationExampleResearch ResourcesMind Map PresentationPresentation StructureResearch ResourcesMind Map PresentationOpeningBody (Mind Maps)ClosingPresentation StructureOverviewDescriptionMind MapsCharacteristicsBenefitsExamplesToolsResourcesUsesHistoryResearch ResourcesMind Map PresentationOpeningClosingPresentation StructureOverviewDescriptionMind MapsCharacteristicsBenefitsExamplesToolsResourcesUsesHistoryProprietary softwareBuzan's iMindMapBuzan Online Ltd

MindManagerMindjetMindMapperSimTech SystemsMindView MatchWareXMind Pro XMind Ltd.

From WikipediaBooksIdea Mapping: How to Access Your Hidden Brain Power, Learn Faster, Remember More, and Achieve Success in Business Jamie NastThe Mind Map Book: How to Use Radiant Thinking to Maximize Your Brain's Untapped Potential Tony Buzan