Portfolio assignment, you’ll introduce the real-world situation that you intend to address using each week’s tool

February 8, 2024February 8, 2024 Discipline: Business and Management


Overview:

In module 1, we will go through a short workshop each week to demonstrate a different creative strategy tool. Each workshop introduces the tool and sets up a challenge for you to adapt the tool into your own workshop materials that could be used to meet a real-world organizational issue. Each challenge will ask you to apply the creative strategy tool to a real-world organizational issue where you would be able to run your own variation of the workshop to meet the real-world issue.

For the Module 1 Portfolio assignment, you’ll introduce the real-world situation that you intend to address using each week’s tool and then overview the workshop materials that you’ve developed to put the tool into practice. You will have three sections to your portfolio, one for each week 2, 3, and 4 (note that we didn’t have a challenge for Week 1). You are only required to develop the workshop materials related to the weekly challenge for each week’s tool (e.g., Miro board, survey, excel sheets). You aren’t required to develop other workshop materials that aren’t related to the tool (e.g., workshop invitation, trainer’s manual). But your workshop materials should be ready to plug into a full workshop and shouldn’t be merely outlines, templates, or “in progress”.

Instructions:

  1. Each week, review the workshop covered in class introducing a creative strategy tool. Each challenge will be introduced and started in class but will also require some time at home to complete. Each challenge will ask you to create a custom version of the week’s workshop using the week’s creative strategy tool.
  2. Collect your work on each challenge into a slide deck that shows your work and ultimate output. Your portfolio will have three sections, one for each weekly challenge.
  3. Portfolios can be structured in a variety of ways but must include:
    1. A cover sheet for each section introducing the real-world issue and approach to addressing it using the creative strategy tool.
    2. Linked or attached resources for conducting your own workshop using the creative strategy tool. Please double check accessibility and permissions to all links and resources before submitting.
    3. A short overview of each of your generated resources, a guide to their use, and a description of why they are the right resource for addressing the real-world issue.
  4. You aren’t required to conduct your workshop with real participants, but you’re encouraged to seek feedback from colleagues and classmates on your proposed adaption of the workshop.
  5. You can work on your portfolio independently or in collaboration with other classmates, but all portfolios must be created by you alone for your own real-world situation. Portfolios can not be created or turned in as groups.
How I see the profilo looking To create a comprehensive Module 1 Portfolio for a high-end beverage company, addressing a real-world issue with the use of creative strategy tools such as the 2×2 Matrix, the Organizational Story, and the Balanced Scorecard, we’ll first define the scenario and then outline how each tool can be applied. Given that the portfolio will be structured in sections for weeks 2, 3, and 4, with week 1 not requiring a challenge, let’s develop a scenario and the application of each tool in this context.

High-End Beverage Company: Real-World Scenario

Scenario Overview:
A high-end beverage company, “LuxSip,” is facing challenges in maintaining its market position amidst rising competition and changing consumer preferences towards sustainability and health-conscious products. The company has a rich heritage in producing premium alcoholic beverages but needs to innovate and align its offerings and brand message with current market trends to sustain growth and customer loyalty.

Goals:

  1. Innovate product line to include sustainable and health-conscious options.
  2. Strengthen brand loyalty and market position.
  3. Improve internal processes to increase efficiency and creativity.
  4. Enhance stakeholder value and align with long-term strategic objectives.

Week 2: 2×2 Matrix

Tool Introduction: The 2×2 Matrix is a strategic planning tool that helps in decision-making by categorizing information into four quadrants based on two criteria.

Application:

  • Criteria: Product Innovation (Low to High) vs. Market Acceptance (Low to High).
  • Workshop Material: Custom 2×2 Matrix exercise on Miro or Excel to plot current and potential products based on their innovation level and market acceptance. This will help identify which new product ideas could align with sustainability and health trends while promising high market acceptance.

Week 3: Organizational Story

Tool Introduction: The Organizational Story is a narrative tool that communicates the company’s identity, values, and vision, helping to align internal culture and external brand perception.

Application:

  • Story Theme: “Evolving Traditions: LuxSip’s Journey Towards Sustainability and Wellness.”
  • Workshop Material: A storytelling workshop guide that helps teams craft stories around LuxSip’s heritage and its commitment to innovation, sustainability, and health. This material will include prompts for creating stories, guidelines for effective storytelling, and examples to inspire participants.

Week 4: Balanced Scorecard

Tool Introduction: The Balanced Scorecard is a strategic planning and management tool that allows organizations to align business activities to the vision and strategy of the company, improve internal and external communications, and monitor organizational performance against strategic goals.

Application:

  • Perspectives: Financial, Customer, Internal Business Processes, Learning and Growth.
  • Workshop Material: A Balanced Scorecard template tailored for LuxSip, focusing on key performance indicators (KPIs) for launching sustainable and health-conscious products, enhancing brand loyalty, and improving efficiency. This Excel sheet or interactive dashboard will include metrics for tracking progress in each perspective area.

Portfolio Structure:

Each section of the portfolio will include:

  • A cover sheet detailing the real-world issue and the selected creative strategy tool’s approach.
  • Linked or attached resources for conducting the workshop.
  • An overview of the generated resources, their usage guide, and rationale for their selection.

Given the provided instructions and files, we will first review the slides for weeks 2, 3, and 4 to extract detailed information on how each tool was presented and can be applied to LuxSip’s scenario. Let’s start by examining the slides for Week 2 to understand the application of the 2×2 Matrix in this context.

The slides for Week 2 introduce the concept of the 2×2 Matrix as a strategic tool for evaluating and prioritizing options based on two critical criteria. It explains the process of constructing a 2×2 chart by selecting two criteria that vary sufficiently and are critical for understanding the items being measured. The matrix can then be used to plot units such as product lines or investment opportunities, potentially adding a third criterion by varying the size or shape of the items plotted. The slides also outline the stages of using the 2×2 chart, from early stage criteria definition to advanced prioritization and resource allocation based on the matrix’s results.

For the high-end beverage company scenario, the 2×2 Matrix could be used to evaluate new product ideas by contrasting their level of innovation with their potential market acceptance, helping to identify which products could successfully align with sustainability and health trends.

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