© 2002 IBM Corporation
1
CSC323 BIT Final Year Project
Idea and Business Context
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited2
Announcements
Submit Groups by next Wednesday6-8 members
Times Allocation will appear on web
Tutorial/Business Meetings will commence in two weeks in the Java Suite Committee Room (Ground Floor)
Groups should meet before hand
http://www.cs.qub.ac.uk/~B.McCollum/csc323/csc323.htm
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited3
Lecture Structure
Source of Ideas
Example projects from previous years
Business Context
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited4
The Starting Point
Groups of educated and motivated individuals
Interest, knowledge and understanding of modern IT, business processes etc..
Frustrations and Ideas
Capture all of this within a Business Context
The next step is Idea Generation
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited5
Creativity – Turning ideas into a project (business)
Initiate A point on which to nucleate ideas
Imagine How could this be improved?
Invent IT must be in the solution
Implement Give thought to design and ‘rollout’
Sustain
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited6
Idea Generation
Where are the Problems / Opportunities?
What are you aware of?
How do you find out?
Potential Areas to Focus on e.g.
Health, Economy, Environment, Education, Entertainment, Business Processes, Travel, Community, Retail, Family, Fashion and Beauty, Food, Gaming, Holmes and Housing, Security, recreation, Marketing and advertising, Non Profit Social Cause, Telecom and Mobile, Transportation, Style and Design
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited7
Idea Generation - examples
Work experience
areas of problems, high demand, customer complaints,
frustrations and waste identified.
Patterns and Trends e.g. Demographics
Family size, exercise habits, perceptions, aging of population, work patterns
Money available?
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited8
Idea Generation
Talk to people
Family / Friends / Relations / Neighbours
Many ideas come from customers - so find people with a need or a problem.
Magazines/Watch television
Look to the USA for ideas emerging there. They tend to be several years ahead of us.
Sell a complete package. Pull a range or products and services together to fully solve a specific problem.
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited9
Key issues
Team ‘buy in’
Understanding of Team Strengths
Initial background research
Enthusiasm
Attitude and belief
Project Management
Looking for opportunities which separate your team from others
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited10
BIT Company Examples
Stage-MICSFull e-commerce web site for the development of a ‘local
music’ community
KidzClickIT learning environment for Primary School Children
Activ-EatInteractive tool for placing orders in restaurants
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited11
BIT Company Examples
AlumIT
Delivery of a full ecommerce Alumni service targeted at the UK University Sector
Digi-Dress
A closing Kiosk incorporating a whole body digital scanner to allow for visualisation of various combinations of chosen catalogue clothes
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited12
BIT Company Examples
Palm quest
The development of a hand held device for use within the survey industry.
Preliminary aimed at the Housing association market used during the process of tenant surveys
Secure IT
Development of products to improve security and road safely for road users within UK
Product ‘eyeTsecure’ is an iris scanning device placed in a vehicles to ensure you are the owner and are fit to drive.
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited13
MedNET
Development of a customer relationship management communication tool designed to improve the relationship between GP’s and patient
Ephora‘Equilibrium’ is a product for the purpose of fitting a horse with
an appropriate saddle
BIT Company Examples
© 2002 IBM Corporation
14
BIT Final Year Project
Business Context
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited
Key Issues
1. Value Proposition
2. Target Market
3. Revenue Model
4. Unique selling proposition
5. Competitive Analysis
7. Market Size
8. Market Growth
9. Market Share
10. Lifestyle or High Potential, Sole Proprietorship or Corporation)
11. Start-up Costs
12. Investment needs
13. Exit Strategy
14. Return on Investment
15
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited16
Business Context – Early Questions
What
Product, Service
Why
Why Now, Why You?
Where
Market, section of market
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited17
Business Context – Early Questions
Who
will use, will you need to partner?
Who will you approach for funding?
How
How will this function?
How will this fit in with other systems?
How do the finances stack up?
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited18
Business Context – Early Issues
SWOT Analysis
Competitor Analysis
Potential success strategies
Justifications of Assumptions made
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited19
Business Ideas Form
Download and submit.
Title
Aims
Description
Business Needs Addressed
Deliverables
Hardware/Software requirements
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited20
Assessing the Idea
Market Research – The next Step
Desk / Secondary Research
Market Research Reports , Statistical Publications
Trade Magazines, Press Cuttings, Internet
Resources- your Local Enterprise Agency;
- Your Invest Northern Ireland regional office;
- Your local library or Belfast Central Library;
- European and Business Information Centre, Upper Galwally.
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited21
Assessing the Idea
Primary Research- Face to face interviews
- Telephone interviews
- Postal questionnaires
- Discussion or 'focus' groups
- Attending Conferences
- Samplings.
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited22
Answers Required
what is the overall size of the market?
are there any trends which are noticeable? e.g. are sales increasing or decreasing?
who buys this product or service?
who uses this product or service?
who actually makes the decision to buy?
when and how do people buy?
where do they buy?
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited23
Answers Required
what essential features must the product or service have?
why do people buy?
what benefits are people buying?
are there any standards or regulations my product or service must observe?
who are my competitors?
what are their strengths and weaknesses?
what price should I charge?
what terms and conditions do buyers expect?
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited24
Initial Answers
Essential Idea ‘flows’ from initial research
Clear evidence would be shown in Interim/final report of marketing effort made.
This should be revisited at all stages of the project
We will discuss these issues at next week business meetings / tutorials
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited25
Business Model
is the mechanism by which a business intends to generate revenue and profits.
It is a summary of how a company plans to serve its customers.
It involves both strategy and implementation.
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited26
Business Model
It is the totality of: How it will select its customers
How it defines and differentiates its product offerings
How it creates service for its customers
How it acquires and keeps customers
How it goes to the market (promotion strategy and distribution strategy)
How it defines the tasks to be performed
How it configures its resources
How it captures profit
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited27
Business Model
Generally, the business models of service firms are more complex than those of manufacturers and resellers
Shop Keeper Model
Bait and Hook Modelcell phones (bait) and air time (hook);
computer printers (bait) and ink cartridge refills (hook);
cameras (bait) and prints (hook).
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited28
Types of Model
Pyramid Scheme Model
Monopolistic Model
‘Cutting out the middle man’ Model
Auction Model
Loyalty Model
Hybrid Model’s times are changing and companies must continuously
rethink their business Models.
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited29
Business Model
Various Aspects- Marketing Model
- Financial Model
- Technology Model
- Sales Model
- Implementation Model
- Management Model
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited30
Business Model
Marketing Model- Preliminary to develop idea- Get target Market’s attention- Marketing mix
Web page, publication, direct, email
Financial Model- All aspects of your business represented financially
Technology Model- Technology background- Development methodology
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited31
Business Model
Sales ModelSales Life Cycle
Who is involved
After Sales Model- What can the customer expect
Software releases,Feedback
Review process
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited32
Business Model
Implementation Model- Involvement with Client
- What can they expect when?
Company Management Model- Internal workings
- Responsibly matrix
timetabling expertise with managed implementation training and consultancy © 2004 eventMAP Limited33
Company Growth
Needs to be Projected
What is the Methodology to Achieve this
Early proof of concept, Partnering, channels, franchising,
sell out?
What is the exit strategy and when?
What is realistic and how often is this reviewed?