Senior Project – teamwork

  1. Team –Review the material of our course to help you select a business strategy.Look in the course documents module and review the busn460 capstone report-presentation document and the cobm_BUSN460_assessment rubric. You can also see the peer review form that you will be submitting in week 8 there as well.

The six Porter’s Generic Strategies (Porter, 1985) are as follows.

  1. Broad differentiation
  2. Broad cost leader
  3. Niche cost leader
  4. Niche differentiation
  5. Cost leader with product life cycle focus
  6. Differentiation strategy with product life cycle focus

 

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Name and describe your Strategy. What is the rationale for this choice?

We are choosing The Cost Leadership Strategy

Porter’s generic strategies are ways of gaining competitive advantage – in other words, developing the “edge” that gets you the sale and takes it away from your competitors. There are two main ways of achieving this within a Cost Leadership strategy:

 

Increasing profits by reducing costs, while charging industry-average prices.

Increasing market share by charging lower prices, while still making a reasonable profit on each sale because you’ve reduced costs.

 

Each company starts with five products in five very different market segments. The five market segments are as follows. Low-end, Traditional, High-end. Size, and Performance. Which market segment is your initial priority and why?

 

We will be choosing Performance market segment because it is important to know what our customers think about the product and how it performs.

 

Team Management Plan
This section defines how the team will allocate assignments and talents. Students may have more than one role on the team.

 

 

Responsibility Manager Assigned
 

Team Lead, President & CEO

Rachel Gibson
R & D, Vice President Rachel Gibson
Marketing, Vice President Sanela Hamidovic
Production, Vice President Sanela Hamidovic
Finance, Vice President Sanela Hamidovic
Quality Assurance Shanay Alston
Human Resources Shanay Alston

 

 

 

 

  1. Skills Inventory: Identify each team member’s personal, professional, and academicstrengths and weaknesses in the table.

 

 

Name Strengths Weaknesses
Shanay Alston Problem Solving, Creativity, Working with others, Organizing, Efficient, multitasking Weak with Presenting , Overthinking
Sanela Hamidovic Creative, organized, presentations, budgeting, Human Resources knowledge Public speaking
Rachel Gibson Delegating, organizing, time management, and working with others Overly critical of myself, having to critique another person’s work
     
     

 

 

 

 

  1. PROJECT MANAGEMENT PLAN

 

  1. Meeting and Communication Plan: How often will you meet, and by what methods? How will you communicate between meetings and distribute agenda items, follow-up items, or other required communication?

 

Our team will meet by conference at least once per week. We will also communicate by text and email.

 

  1. Documents and Change Management: How will documents be shared and stored using the team tools in Canvas?

 

Our team will utilize the discussion board in the group section and upload all document to the “file” section within Canvas.

 

  1. Task Management: Create a Gantt Chart that will show all the tasks required, what week they will occur and who is assigned. Add tasks as required. Feel free to create a separate more detailed project plan as an attachment.

 

 

Task Task Lead Week1 Week2 Week3 Week4 Week5 Week6 Week7 Week8
Charter All All All            
Log into Capsim   All              
Rehearsal Round   All              
Practice Round     All            
Competition Round 1       All          
Competition Round 2         All        
Competition Round 3           All      
Competition Round 4             All    
                   
                   
                   
DryRun Presentation             All All  
Report           All All All All
Presentation           All All All All

 

 

 

  1. CONFLICT MANAGEMENT PLAN
    Describe how your team will manage conflict.

 

Potential Conflict Recommended Solution
 

Member misses a meeting

We will talk to team member to see why they missed the meeting. From there, we will decide if missing the meeting was excusable.
 

Member cannot be reached

We will try contacting that member at least 2 times. If we cannot reach them after the third attempt, we will contact the professor.
 

Member does not complete work on time

We will talk with the member about the importance of being prompt. If the member turns in work late more than once, we will then need to collectively decide on recourse.
 

Member work is unsatisfactory

We will address issue with the team member and do our best to help fix the unsatisfactory work as a team.
 

Member drops the course

We will divide the work between members left on the team.
 

Member has an unavoidable emergency that delays work

We will pitch in and help and notify the professor if an extension may be needed due to the unforeseen emergency.
 

How will you resolve minor disagreements?

We will talk about all options and make best decision for the team.
 

Who rules for major disagreements—team leader or majority rule?

Majority rules
 

How will you use the Peer Review at the end of the course? What are the consequences of unsatisfactory performance?

We will review each member fairly and consider all circumstances.  Consequences of unsatisfactory performance will be an email to the professor stating that fact.
 

Canvas is temporarily offline or class time is cancelled

 We will email or text
 

Other potential conflict

 

 

 

  • TEAM RULES AND ETHICS

Create a list of rules to help you collaborate as a team, including expectations about meetings, communication, course work, conflict resolution, and so on, based on other elements of this charter.

 

  1. Team members needs to be on time for meetings

 

  1. In the case that an emergency arises, and you cannot make it to a meeting, this must be brought to the team’s attention. We will work on rescheduling the meeting accordingly or updating the team member on information that discussed during the meeting.

 

  1. Complete task assigned on time

 

 

  1. Communication – if team member is not able attend or complete the test, it is team members responsibility to communicate and let others know

 

  1. To know how we are communicating, meetings, setup, and call number included

 

  1. Have respect for one another, even when in a disagreement.

 

  1. All Work should be a collaborative effort. Everyone must do their part and not depend more on another person to do the majority of the course project.

 

Include a statement of ethical commitment each team member will adhere to which should address such items as making a good contribution to the team, good practices in following academic integrity, open, clear, and honest communication. Be sure to address how your team will ensure it follows ethical principles in decision making.

 

Ferries Vision Statement:

 

“Ferris team commits to promoting honesty and ethical conduct, including following academic integrity, open, clear, and honest communication, and being respectful to one another.”

 

 

What are some Ethical business practices your team may incorporate in your plan?

 

  1. Treat people how you want to be treated
  2. No one should be treated unfairly because the color of the skin, religion, or moral values.
  3. If something is stated in confidentiality it should remain confidential.
  4. Everyone’s consent should be acknowledged before submitting assignments, unless someone is not working apart of the team and then the majority rules.
  5. Remain Transparent to one another to avoid conflict.
  6. Do not hesitate to give credit
  7. Be open minded
  8. Maintain communication
  9. Always be “Reliable”
  10. CRITICAL SUCCESS FACTORS FOR YOUR BUSINESS PLAN
    Refer back to your team project product or service description. Identify critical success factors for your product or service idea. For example, are you depending on outside suppliers, retail traffic, technology, or advertising success? What steps can you take to achieve these factors?
Critical Success Factors Reason for Importance Steps Taken to Ensure Attainment
Retail Traffic More sales as we get more traffic We will advertise
Outside supplier Product delivery We will make sure we place orders on time
Technology Purchasing is more completed online then in stores Working App, working website

 

 

 

 

 

  1. Commitment

Each team member is to write an individual commitment statement. If onsite, each team member will sign his or her commitment statement.

“Shanay, Rachel, and Sanela are committed to values which are reflected in our behavior expectations: recognition, ownership, communication, courtesy, enthusiasm, and teamwork. Each team member will strive to embrace these behaviors continuously.” 

 

Sanela Hamidovic

Shanay N. Alston

Rachel M. Gibson

 

References

Porter, Michael E., “Competitive Advantage”. 1985, Ch. 1, pp 11-15. The Free Press. New York.

 

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