The midterm is fifty (50) percent of the final grade, in two parts: the project (a map of your business’ market) and a short presentation of it to the class: Value 80% 20% Market Map Assessment Project – Market Map Presentation – Market Map Delivery Submitted via TurnItIn Presented in Class (Week 8) The market of a business is a network, and as such, conforms to scientific principles inherent in all networks, which can be understood and manipulated using complex system theory. The map of your market should include: Suppliers – Who does your business depend on? Customers – Which demographic groups are your likely customers? Advertising – How will you get the word out about your products/services? Channels – How will you distribute your product/services to customers? Competition – Who’s already in your market and established? Constraints – What regulation, access, and other limits will affect your business? The midterm project seeks to understand that network and identify opportunities within it where complex system theory could improve its resilience, adaptability and competitiveness. The map must include: Visual representation only, no lists, no paragraphs of text; Links must be labelled with an explanation of the nodes’ interdependence; and Contain a minimum of 20 nodes (separate ‘entities’ in the business’ market). Meeting these criteria will result in a passing mark, but correctly incorporating elements of the complex system theory sciences presented in class into your map will increase your grade. For example: Network Theory (Week 3) – The study of complex interacting systems represented as graphs demonstrating directionality and influence. Self-‐Organization (Week 4) – A process where global order arises out of the chaotic local interactions without external control or direction Co-‐evolution (Week 5) – A process where the development of one entity is dependent on the adaptation of others in the same ecosystem Each of these can be represented in the market map and will demonstrate an understanding and synthesis of business practice and complexity theory. Explicit inclusion of this material will improve the quality of your map, and of your business. You may use any format, software or method of creating your market map, including drawing it by hand, that allows you to upload it via TurnItIn (including taking a photo of the map with a smartphone and uploading the image). If you are in the Monday Lecture the Market Map is due: 23:59 on Sunday, 02 October 2014 If you are in the Tuesday Lecture the Market Map is due: 23:59 on Monday, 03 October 2014 Presentation You will present the map of your business in your Lecture or Seminar with other members of the business consortium (group) you created in Week 5 (Co-‐evolution). Your presentation may be a maximum of three (3) minutes, and needs only to be given verbally. There is no requirement for a PowerPoint presentation, hand-‐outs or any other materials or displays. With the limited time you’ll have, you should focus your presentation on the following questions: What in this process have you discovered that is unique about your market? What unique advantage does your consortium (group) add to your business? How does complex system theory in your market make your business more competitive?
