Estech Midterm Reviewer

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Handouts 5 ESTECH030 implications or how to put such information to

What is a Meeting? best use.


A meeting is the coming together of three or more CONSULTING MEETINGS
people who share common aims and objectives, and • These are meetings used to discuss a specific
who through the use of verbal and written policy or innovation and can be used to get
communication contribute to the objectives being participants' views of such a policy or idea. An
achieved. example could be:
THE PURPOSE OF MEETINGS • Review a current policy
Meetings are an important organizational tool as they • State its deficiencies
can be used to: • Suggest change
1. Pool and develop ideas (ideation) • Stress the advantages of such change
2. Plan • Admit any weaknesses
3. Solve problems • Invite comments
4. Make decisions PROBLEM SOLVING MEETINGS
5. Create and develop understanding • These meetings are dependent upon the
6. Encourage enthusiasm and initiative chairperson describing the problem as clearly as
7. Provide a sense of direction possible. Members should be selected
8. Create a common purpose according to their experience, expertise or
While meetings may differ in size, content and interest and then given as much information as
approach, effective meetings all have the following possible to enable them to generate ideas, offer
three elements in common: advice and reach conclusions.
1. A distinctive purpose or aim • Be vigilant: identify problems early
2. Use of effective communication • Call a meeting to address them
3. A controlled situation • Diagnose problem—find cause
How do people do it wrong… DECISION MAKING MEETINGS OR ACTION MEETINGS
• Too many “discussion” items • Send out structured agenda ahead of time
• Wrong people in the meeting • Pose the question that needs to be answered
• Too Informational--not enough direction • “Parking lot” tangential issues or topics
• Does not ask for everyone’s contribution • Make notes and connect them to deliverables
• No benchmark to know when it should end • Assign someone to follow up on deliverables
• Too long What to do BEFORE a MEETING
Effective Meetings are PURPOSE-driven 1. Is the meeting necessary
• Clear agenda: stated goal upfront 2. Right people/timing
• Provide an ask: what do you want people to do 3. Setting up an agenda
in the meeting 4. Type of meeting
• Only the information people need to be able to What to do DURING a Meeting
contribute or make a decision 1. Timing
• Focus on decisions 2. Give an outline
• If no decision can be made, decide on what 3. Take notes
additional info is needed to make it. 4. Assign a chairman (reminds every one of the
TYPES OF MEETINGS objective)
INFORMING MEETINGS 5. Keep the discussion flowing
- These are the most straightforward meetings 6. Summarize briefly
where one member, usually the chairperson, What to do AFTER a Meeting
has factual information or a decision which 1. Send a published result
affects all those present, which he/she wishes 2. Evaluate
to communicate. Such meetings tend to be 3. Schedule next Meeting
formal as their aims are to give the members a
real understanding and to discuss any
How To: Brainstorm • Ideation provides both the fuel and also the
• Have a framework / process for discussion source material for building prototypes and
• Outline the rules to get the most creative getting innovative solutions into the hands of
output from everyone your users.”
• State the question you want answered • spark off ideas - start with Q and A
Managing Conflict: Leaders encourage healthy conflict • Exciting process
• Working WELL with each other doesn’t mean • From worst or weird ideas to into the best,
you always agree on EVERYTHING. most practical and innovative ones.
• The strongest teams disagree on everything, but • main aim of the Ideation stage is to use
they eventually find a way to come to creativity and innovation in order to develop
agreement. solutions
• “Conflict” is vital information…avoid it at your IDEATION TECHNIQUES
peril. • Brainstorming- sharing ideas in a group
How to Manage Conflict • Braindump- individual process (low risk)
• Set rules of engagement – don’t go personal • Brainwriting - additive written process
• Get in habit of brainstorming alternatives • HMW (How might we …)
• Set up system to gather info from everyone • Round Robin- HMW, idea, critique, resolution
• Encourage but isolate conflicts to specific • Mindmap- visual
meetings • Worst Idea Ever - when you get stuck
• Set up regular “balloon popping” sessions Venues for generating ideas: BIG IDEAS
• Agree to set up a test to determine the optimal UNITED NATIONS: Department of Economic and Social
Affairs Sustainable Development
• The 2030 Agenda for Sustainable Development,
adopted by all United Nations Member States in
2015,
• provides a shared blueprint for peace and
prosperity for people and the planet, now and
into the future.
• At its heart are the 17 Sustainable Development
KEEP YOUR TEAM SMALL Goals (SDGs), which are an urgent call for action
STICK TO YOUR SELECTED TIME by all countries - developed and developing - in
TEAM MEMBER ROLES a global partnership.
1. LEADER ESTECH030 Handouts 6
2. RECORDER What is a “start-up”?
3. TIMEKEEPER • According to Oxford Dictionary:
4. FACILITATOR “startup (noun)”
Kinds of Gathering or Meetings of a Team (another 1.) the action or process of setting something in
classification): motion.
1. For ideation 2.) a newly established business.
2. For Updating of tasks or activity • According to Webster Dictionary:
3. For benchmarking “startup (noun)”
4. For achieving a task or plan 1.) the act or an instance of setting in operation or
Ideation : Products and Services motion
Ideation… 2.) a fledgling business enterprise
• “Ideation is the mode of the design thinking START-UP – a temporary organization designed to
process in which you concentrate on idea search for a repeatable and scalable business model
generation. - Aims to become a company
• Mentally it represents a process of “going wide” - According to Investors Trading Academy:
in terms of concepts and outcomes. “startup (noun)”
A startup is a young company that is just beginning to - The video MVP
develop. Startups are usually small and initially financed - The concierge MVP
and operated by a handful of founders or one individual. - The Wizard of Oz MVP
These companies offer a product or service that is not 4. The Three Engines of Growth
currently being offered elsewhere in the market, or that - The sticky engine – attracts customer and never
the founders believe is being offered in an inferior let go
manner. - The viral engine – viral coefficient
Originators of LEAN STARTUP - The paid engine – advertisement, cost per
1. W. Edwards Deming (1900 – 1993) acquisition, life time value (LTV)
2. Taiichi Ohno - 大 野 耐 (1912-1190) 5. Pivot or Persevere
What is a “start-up”? LEAN STARTUP
Eric Ries defines a startup as an experiment. It is simply  Myth: Lean means cheap.
a thesis that says, Truth: Lean is not about cost, it is about speed.
“I believe there is a big problem that people will pay  Myth: Lean Startup is only for software
money to solve. companies.
And I believe this product or invention, or feature will Truth: Elements of Lean Startup apply to all
solve that problem.” companies that face uncertainty about what
Eric Ries says customers will want.
a Start – Up is a human institution design to create  Myth: Lean Startups replace vision with data or
something new under condition of extreme uncertainty. customer feedback.
LEAN STARTUP METHODOLOGY Truth: Lean Startups are driven by a compelling vision
and are rigorous about testing each element of this
vision and every consequential assumption
• What is a Minimum Viable Product (MVP) ?
• A version of a new product which allows a team
to collect the maximum amount of validated
learning about customers, with the least effort.
– Frank Robinson
Handouts 7 Problem Identification
UNDERSTANDING PROBLEM IDENTIFICATION
LEAN STARTUP It is the fundamental process of identifying the problem
Establish the baseline present so that we can internalize our goal or to clarify
● Build a Minimum Viable Product (MVP) the objective that we need to achieve.
● Measure how customers behave right now It is also the process of clarifying the issue that needs to
Tune the engine address.
● Experiment to see if we can improve success CORE CONCEPT
metrics from the baseline towards the ideal Problem identification is the process of recognizing and
Pivot or persevere defining challenges or gaps in the market that can be
● When experiments reach diminishing returns, addressed through innovative solutions
it’s time to pivot. ROLE
It serves as the foundation for business ideas and helps
● All startups will pivot in shaping the direction of entrepreneurial ventures.
● If you can reduce the time between pivots, you IMPORTANCE OF PROBLEM IDENTIFICATION
can increase your odds of success….before you In a nutshell , not knowing the problem means that
run out of money! there can be no effective product produced.
LEAN START-UP In an engineer’s perspective , the client expects an
1. The BUILD-MEASURE-LEARN feedback loop. immediate solution to a problem. Our role is to
2. Everything is a grand experiment. recognize and validate the existing problem
3. Different types of MVPs TECHNIQUES
• The Millennium Development Goals were
replaced in 2015 by the Sustainable
Development Goals (SDGs), which were
adopted by the UN General Assembly as part of
the Post-2015 Development Agenda.
• The SDGs are 17 goals with precise targets and
indicators that were formally established in the
2030 Agenda. The majority of the goals are
intended to be completed by 2030.
THE 17 UN SDGs
Goal 1: No Poverty
Goal 2: Zero hunger (No hunger)
Goal 3: Good health and well-being
Goal 4: Quality education
Goal 5: Gender equality
Goal 6: Clean water and sanitation
WHAT IS DESIGN THINKING? Goal 7: Affordable and clean energy
According to Harvard business school online , design Goal 8: Decent work and economic growth
thinking is one of the most effective approaches to Goal 9: Industry, Innovation and Infrastructure
problem solving Goal 10: Reduced inequality
If you’re an engineer who wants to develop business Goal 11: Sustainable cities and communities
skills, here's an overview of design thinking and the Goal 12: Responsible consumption and production
engineering challenges it can help solve Goal 13: Climate action
Goal 14: Life below water
Goal 15: Life on land
Goal 16: Peace, justice and strong institutions
Goal 17: Partnerships for the goals

SOURCES OF ENTREPRENEURIAL OPPURTUNITIES

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