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Managing R&D in "MarkStrat" simulation

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MarkStrat is a simulation where students can excercise with KPIs (Key Performance Indicators), through multiple decision rounds. Unlike other types of decision, simulated in this game, R&D requires more time to seize the effects of the decision. It also requires to look into the structure of the product (its features), as related to projected desires of market segments, as configured by Market Research. Then, there is a technical part to handle, for the input of the decions in the simulation platform.

If you have trouble with the R&D dimension of MarkStrat simulation (MBA programmes), this presentation may help you. It summarizes the concepts mobilised by the simulation and provides some simple steps to do it.

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Managing R&D in "MarkStrat" simulation

  1. 1. Managing R&D in MarkStrat® simulation Paris Chrysos Professor of Innovation Management ISC Paris paris.chrysos@iscparis.com @paris_chrysos MBA Programme
  2. 2. Overview ● Quick answer ● Longer answer ● How it works
  3. 3. May, 2015 Paris Chrysos, ISC Paris Quick answer ● It takes time ● It takes money
  4. 4. May, 2015 Paris Chrysos, ISC Paris Longer answer ● It's about creating a new product. ● A product is – A brand – A set of characteristics – An R&D project
  5. 5. May, 2015 Paris Chrysos, ISC Paris The brand ● Helps people recognize it (it's the name) ● People get to know it through marketing
  6. 6. May, 2015 Paris Chrysos, ISC Paris The characteristics ● Correspond to people's specific needs. ● Different categories of people, need or like different things in the product (characteristics or features). Example the importance of the characteristic “Battery” for different categories (savers, shoppers, explorers, professional, high earners) and the corresponding brand positioning (“Semantic Scale”)
  7. 7. May, 2015 Paris Chrysos, ISC Paris The R&D project ● The enterprise learns how to create a product with the desired characteristics through an R&D project
  8. 8. May, 2015 Paris Chrysos, ISC Paris How it works
  9. 9. May, 2015 Paris Chrysos, ISC Paris How it works In time ● Round N – Decision: “Learn how to make a product with these characteristics” (because I know that's what a specific market segment wants). Let's name it “POROVE”.. ● Round N+1 – Decision: “Create a new brand, based on the results of the R&D project”. – Decision: “Tell the people we have it!” (marketing) ● Round N+2 – That's when you get the money...
  10. 10. May, 2015 Paris Chrysos, ISC Paris Round N: Order the research
  11. 11. May, 2015 Paris Chrysos, ISC Paris Decide R&D
  12. 12. May, 2015 Paris Chrysos, ISC Paris Start a new R&D project
  13. 13. May, 2015 Paris Chrysos, ISC Paris Order your characteristics
  14. 14. May, 2015 Paris Chrysos, ISC Paris And pay for it!
  15. 15. May, 2015 Paris Chrysos, ISC Paris Round N+1: Create a new brand
  16. 16. May, 2015 Paris Chrysos, ISC Paris Go to Brand Portfolio
  17. 17. May, 2015 Paris Chrysos, ISC Paris Launch a new brand
  18. 18. May, 2015 Paris Chrysos, ISC Paris Give it a Brand name, a role, and select your R&D project
  19. 19. May, 2015 Paris Chrysos, ISC Paris Round N+2: See what you've done, get the money!
  20. 20. May, 2015 Paris Chrysos, ISC Paris Want to know more ? Where to start from ● Nonaka, I., Umemoto, K., & Senoo, D. (1996). From information processing to knowledge creation: A Paradigm shift in business management. Technology in Society, 18(2), 203–218. ● Hatchuel, A., Le Masson, P., & Weil, B. (2001). From R&D to R-I-D: Design strategies and the management of “Innovation Fields.” In 8th International Product Development Management Conference. ● Le Masson, P., Weil, B., & Hatchuel, A. (2010). Strategic Management of Innovation and Design. Cambridge University Press. ● Maniak, R., & Midler, C. (2014). Multiproject lineage management: Bridging project management and design- based innovation strategy. International Journal of Project Management, 32(7), 1146–1156.
  21. 21. May, 2015 Paris Chrysos, ISC Paris Thanks for watching !

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