Week 7Business & market landscape analysis

Introduction & Expectations

The focus of this week will be on how to assess the Business and Market Landscape, and understanding the need of invention to avoid limitations of the existing solutions available in the market

Dr. Cindy Furse & Dr. Arabella Bhutto will be the facilitators

Dr. Arabella Bhutto's Video

Dr. Arabella Bhutto's Presentation Slides

Preparation for Week 7

The focus of this week will be on Business solutions and identifying values you are intending to offer

Dr. Cindy Furse & Dr. Arabella Bhutto will be the facilitators

Course Materials

!! Research Development: Business & Market Landscapes Analysis

Learning Objectives

Objective 1: Introduce you with the resources available through the Marriot Library and enable you to learn about the existing solutions in the market, as an added information towards literature search
Objective 2: Enable you to connect the problem you identified to the existing solutions and perceiving value which you will offer through your innovative solution in the future

IntroDuction

Two components of the LCI will be discussed i-e Existing Solutions and Novelty. Different databases will be introduced which are available through the Marriot library for exploring the existing solutions in the market, looking for limitations in the existing solutions and proposing novelty in the future invention with respect to the elements of the value pyramid.

Readings / ActivitieS

the-elements-of-value

VIDEOS, Tutorials & Class Recordings

Business and Market Landscape by Dr. Arabella Bhutto (1.5 hours, please watch before class)

OverView of Assignments

During class we will be having two discussion sessions.

Discussion 1 Business Keyword Search - First will be focused on the following questions:

1. What is the problem you are intending to solve?

2. Which exiting solutions you feel are feasible to solve the problem?

3. Which industry you choose to apply your solution?

BCC Business Database for Marriott Library

Market Matrix template

Discussions 2 Value Pyramid- Second will be focused on the the following question:

1. If your invention can overcome the limitations in the existing solutions which values, you can add in the lives of end-users?

Value Pyramid template

Supporting MaterialS

Market Matrix:
- https://www.youtube.com/watch?v=zy2N7MNex4A
- https://www.youtube.com/watch?v=uxAhXgTs3CU
Value Pyramid
- https://www.youtube.com/watch?v=8QCwkdbrCJ8
- https://www.youtube.com/watch?v=coUN7xuHDCs
- The Elements of Value: Measuring—and delivering—what consumers really want by Eric Almquist, John Senior, and Nicolas Bloch From the Magazine (September 2016), https://hbr.org/2016/09/the-elements-of-value
Business Databases

Marriott Library Business Databases
Provides links to several databases that will answer the discussion questions.

Review of the Marriott Library and Business Databases (pdf format)
This pdf provides an overview and links to databases to learn more about companies, markets, and industries.

Tutorials

- - - - BCC - How to Read a BCC Research Report
      - BCC Research
  - Commercialization Resources at the University of Utah
  - Pivot Center, University of Utah

Matrix Mentoring

Learning Objectives

Learn about Geert Hofstede's 6 Cultural Dimensions
Identify how one or more of the Hofstede cultural dimensions might influence your professional relationships

IntroDuction

Geert Hofstede (1928 - 2020) was a Dutch social psychologist who defined culture as "the collective programming of the mind which distinguishes the member of one group or category of people from another.” Culture provides blueprints for so many aspects of people's lives, including how we dress, the ways we related to one another, our values, and beliefs. Hofstede applied what he learned about hundreds of cultures across the globe to professional contexts. Within a research lab, academic department, and workplace, all of our interactions are influenced by cultural dimensions. For example, when attending a meeting, some cultures value mingling, eating, and informal conversation before delving into a formal agenda. In some cultures, this type of pre-meeting socializing could be interpreted as disrespectful (a waste of precious time!). This week, in our matrix mentoring section, you will spend a bit of time learning about Hofstede's 6 Cultural Dimensions and thinking about how it might influence your mentoring, educational, professional, or personal relationships.

Readings/ Activities

Dimensionalizing Cultures_ The Hofstede Model in Context.pdf

VIDEOS, Tutorials & Class Recordings

- Watch Geert Hofstede describe his definition of culture and how organizations, steeped within particular cultures, enact specific cultural dimensions. These six cultural dimensions help organizations solve social issues, including (a) societal inequality (power distance), (b) dependence on others (individualism/collectivism ), (c) emotional expression (femininity/masculinity), (d) response to the unknown (uncertainty avoidance), sense of time (short - long - term orientation), and (e) how people deal with their natural drives (indulgence/ restraint).

OverView of Assignments

After watching Geert Hofstede's short interview and reading through the overview of the 6 Cultural Dimensions, you may be interested in skimming through two studies that apply his theory to the field of engineering.

Your post class assignment for this week will be to:

Go to: https://www.hofstede-insights.com/product/compare-countries/
Type in the name of a country or countries you may consider working in after graduation or a country from which a mentors/peers/faculty is originally from
Briefly summarize the are some similarities and differences about your country of origin and your peer/faculty/mentor?
What are some new realizations or general reactions to what you've just learned?
How might you apply what you've learned about the 6 cultural dimensions in your research team, with a peer, or within your mentoring relationship?
Imagine you will be meeting with a potential employer who was born and raised in a different country. What might something you would interested in learning about with regard to one or more of the 6 cultural dimensions?

Supporting MaterialS

Career Development

Learning Objectives

Learn the difference between time management skills, time management techniques, time management tools, and personality traits that encourage good time management
Understand the five most important time management skills and how to acquire them
Review a list of time management skills and determine which ones would be important for you to implement
Gain a deeper understanding of procrastination and 11 ways to stop putting things off

IntroDuction

Time management is the process of planning and controlling how much time to spend on specific activities. Good time management enables an individual to complete more in a shorter period of time, lowers stress, and leads to career success. This week you will read an article that describes which skills are the cornerstone of the most productive people in the world and how you can develop them.

Procrastination and distractions can undo all the effort you've put into getting organized and taking control of your time. When your urge to delay a task occurs, it can be helpful to ask yourself, Why am I putting off this task?" or "Why am I not focusing on what I should focus on?" The more you know about what's causing you to veer off track, the more you can work to change your behavior and accomplish your goals. This week you will also read an article to understand the most common root causes for procrastination so that you can identify when you're falling victim to these causes and apply the right antidotes. I've also included a funny, but insightful Ted Talk on procrastination.

Readings /Activities

VIDEOS, Tutorials, & Class Recording

Watch the Ted Talk, "Tim Urban: Inside the Mind of a Master Procrastinator"
- The instant gratification monkey, the dark playground, and the panic monster

Overview of Assignment

TBA

Supporting MaterialS

Article, "31 Common Interview Questions and Answers (with Tips)"
Article, "18 Tips for Succeeding During Your Zoom Interview"
Article, "Zoom Job Interview Mistakes to Avoid"

Learning Activities

Discussion 1 Business Keyword Search - First will be focused on the following questions:

1. What is the problem you are intending to solve?

2. Which exiting solutions you feel are feasible to solve the problem?

3. Which industry you choose to apply your solution?

BCC Business Database for Marriott Library

Market Matrix template

Discussions 2 Value Pyramid- Second will be focused on the the following question:

1. If your invention can overcome the limitations in the existing solutions which values, you can add in the lives of end-users?

Value Pyramid template

Link to Zoom Classroom: See left menu <<< of Canvas

Assignments (Homework)

Lean Canvas Topic

Mentoring Matrix Topic

Your assignment for this week will be to:
1. Go to: https://www.hofstede-insights.com/product/compare-countries/
2. Type in the name of a country or countries you may consider working in after graduation or a country from which a mentors/peers/faculty is originally from
3. Briefly summarize the are some similarities and differences about your country of origin and your peer/faculty/mentor?
4. What are some new realizations or general reactions to what you've just learned?
5. How might you apply what you've learned about the 6 cultural dimensions in your research team, with a peer, or within your mentoring relationship?
6. Imagine you will be meeting with a potential employer who was born and raised in a different country. What might something you would interested in learning about with regard to one or more of the 6 cultural dimensions?

Career Development Topic

- TBA