Today, there was a double session for BGS, with first session dedicated to an online simulation and second to debriefing of the simulation.
We grouped to be 8 different companies, using water of a common lake, and trying to use this water, even while we were to take decisions regarding whether we will treat water after use or dispose without treatment. And then, there were flavors like rains, fines, awards. Overall, we had fun at the simulation.
Our group started believing that after the Strategy class, people now understand the concept of prisoners dilemma and will all treat the water. When that didn't happen, we played to maximize our relative gain.
While I expected the debriefing to be the same as what we had in the Strategy class simulation, it was actually different this time. With each element of the game, from lake to the fines to the awards, Jef discussed about how it relates to and represents some aspect of the business world and government norms and took inputs from the class about the hows, the whats, the likes and the dislikes.
I enjoyed this debriefing today. It gave us so much information, by referring to just a simulation, which I had initially thought to be just another form of prisoner's dilemma.
Later in the day was marketing strategy class. Today Erik discussed the Polyphonic HMI case - again a product with amazing innovation by a start-up trying to make its mark. The Plumber metaphor and question of 'who is the plumber in this case'? came up today as well. By the way, if I have not already mentioned this, this is with reference to the first case, where plumber represents a customer side stakeholder and an influencer, who needs convincing and converting, for successful sale of your product.
I have to admit, today I had only managed to read the case and didn't work much on solving it. But, even if I had solved it in all aspects, I could not have thought of using simple tools that we have already learned in the past like Bayes theorem to identify the value created. This was a good learning for me today. In fact, we saw a lot of numbers today, but none of them appeared out of place and they were actually relatively easy to do - reminded me of something which I have heard a few times in the past about cracking the case - that if you can't do the basic numbers on back of an envelope, you are not cracking the case correctly.
Today, I saw a demonstration of how to crack a case on back of an envelope. Not bad for a friday afternoon class, I would say.
And yes, the common theme in today's classes - if you only look at numbers, you may not be able to generate full value - for simulation in BGS, we had to look and think about what others are doing or will do and for marketing strategy, we had to identify the plumber and think on how we can engage this person to create value.
Our group met right after the classes and at 6 PM, we finally concluded our work, and with that I also concluded my study for the day.
Last night was a long night with the Korean dinner and the after dinner gathering at a Turkish restaurant, so tonight I need some rest.
Enjoy your weekend readers :-)
We grouped to be 8 different companies, using water of a common lake, and trying to use this water, even while we were to take decisions regarding whether we will treat water after use or dispose without treatment. And then, there were flavors like rains, fines, awards. Overall, we had fun at the simulation.
Our group started believing that after the Strategy class, people now understand the concept of prisoners dilemma and will all treat the water. When that didn't happen, we played to maximize our relative gain.
While I expected the debriefing to be the same as what we had in the Strategy class simulation, it was actually different this time. With each element of the game, from lake to the fines to the awards, Jef discussed about how it relates to and represents some aspect of the business world and government norms and took inputs from the class about the hows, the whats, the likes and the dislikes.
I enjoyed this debriefing today. It gave us so much information, by referring to just a simulation, which I had initially thought to be just another form of prisoner's dilemma.
Later in the day was marketing strategy class. Today Erik discussed the Polyphonic HMI case - again a product with amazing innovation by a start-up trying to make its mark. The Plumber metaphor and question of 'who is the plumber in this case'? came up today as well. By the way, if I have not already mentioned this, this is with reference to the first case, where plumber represents a customer side stakeholder and an influencer, who needs convincing and converting, for successful sale of your product.
I have to admit, today I had only managed to read the case and didn't work much on solving it. But, even if I had solved it in all aspects, I could not have thought of using simple tools that we have already learned in the past like Bayes theorem to identify the value created. This was a good learning for me today. In fact, we saw a lot of numbers today, but none of them appeared out of place and they were actually relatively easy to do - reminded me of something which I have heard a few times in the past about cracking the case - that if you can't do the basic numbers on back of an envelope, you are not cracking the case correctly.
Today, I saw a demonstration of how to crack a case on back of an envelope. Not bad for a friday afternoon class, I would say.
And yes, the common theme in today's classes - if you only look at numbers, you may not be able to generate full value - for simulation in BGS, we had to look and think about what others are doing or will do and for marketing strategy, we had to identify the plumber and think on how we can engage this person to create value.
Our group met right after the classes and at 6 PM, we finally concluded our work, and with that I also concluded my study for the day.
Last night was a long night with the Korean dinner and the after dinner gathering at a Turkish restaurant, so tonight I need some rest.
Enjoy your weekend readers :-)
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