BSBCRT501 Assessment2

Assessment 2 – Portfolio of Activities

A. the brief that provided to the collaborators before the meeting to outline the organizational context, the identified needs and the ideas

Creative thinking techniques that you could use include, but are not limited to:

a. Brainstorming

Brainstorming is a group creativity technique by which efforts are made to find a conclusion for a specific problem by gathering a list of ideas spontaneously contributed by its members.

b. Buzz sessions

The Buzz Sessions are series of thought-provoking, fast-paced interactive one hour training sessions designed to inspire, motivate and educate teams in a single skill that is crucial to business success.

c. Word association

Word Association is a common word game involving an exchange of words that are associated together.

d. Edward De Bono’s Six thinking Hats

Developed by Edward de Bono in the early 80s, this popular technique is now used by businesses all over the world. They involve putting on a selection of metaphorical hats when it comes to making a decision. Each hat represents a different direction of thinking.

White Hat – Facts

Red Hat – Emotions

Black Hat – Judgement, Caution

Yellow Hat – Logic

Green Hat – Creativity

Blue Hat – Control

e. Mind mapping

The key to mind mapping is to take note of every idea that comes up. Don’t neglect anything, no matter how far-fetched it may seem. Save the critical selection process for later. Generate as many ideas as possible; the more you jot down, the bigger chance of finding that golden ticket idea.

f. Problem-solving techniques such as cause and effect diagrams and the 5 whys

The 5 Whys can be used individually or as a part of the fishbone (also known as the cause and effect or Ishikawa) diagram. The fishbone diagram helps you explore all potential or real causes that result in a single defect or failure. Once all inputs are established on the fishbone, you can use the 5 Whys technique to drill down to the root causes.

g. Lateral thinking games.

Another term coined by Dr. de Bono, this involves looking at your situation in a different way. The simplest answer is not always right. We solve most problems in a linear fashion, i.e. if something happens it must have been… because of….

We take a step by step approach to finding our answers. De Bono encouraged others to look at their situation differently, to step sideways for a second if you will. This allows people to re-examine their predicament from a much more creative point of view.

B. A third-party report from each of the collaborators

Appendix 1 – Third-party report template

C. Evaluation of ideas, incorporating feedback and input from the collaborators

Appendix 2 – Idea evaluation grid

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D. Explanation of how idea is selected for further consideration

Appendix 3

E. Draft proposals for four to six ideas

Appendix 4 – Draft proposal template

F. A one-page summary of best practice for similar products, programs, processes or services

Competitors

Conclusion

Overall, the competitors in this market are quite experienced, have a lot of history and will be difficult to compete with. Kevin Mckenzie Hair is the most established competitor with a an award winning service, a lot of publicity and loyal customers. However the price of Kevin Mckenzie Hair is much higher and many customers cannot afford to pay that kind of money regularly for their haricuts. The other two competitors offer cheaper services but the quality may not be so high. Hair Sway has the opportunity to penetrate the market by offering better quality service at a lower price and provide a more unique style that Asians and Thai people specifically prefer more.

G. A cost-benefit analysis for each of their three best ideas

H. A one-page report explaining why they decided on the two final ideas

The two idea that I have concluded are the best options are Partnering with another businesses and developing a new product.

Partnering with another business

Sometimes partnering with other businesses can be beneficial to the business. Such as partnering with another beauty salon, can boost the brand awareness and reputation significantly. Offering rewards, loyalty cards or business discounts to partnered stores can help create a strong partnership. Such as purchasing a haircut from your business, you can give customers a 20% discount on another business can really help both businesses a lot. Partnerships can result in more sales, bigger reach and more publicity. This is a great way to increase sales by providing incentive to customers to purchase from both businesses. The businesses both win from the partnership and customers are also happy. This is a low investment idea with the potential of increasing sales significantly

Developing new products

Offering a new product/service such as hair washing, nail cutting, eyelash extensions etc. New products can attract new customers and that is great for business. It can improve profitability, customer loyalty and overall sales. A new products will grab the attention of new customers. A product launch generates attention for your company. When you issue a press release that gets published, people read about your new product and, at the same time, learn about or get introduced to your company.…

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