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Introduction to Information

Introduction to Information. GCP – Summer 2008 Chris Moberg. Today’s Goals. Set GCP Expectations Explain the Importance of Information (Secondary and Primary) in Your Projects Share Tools, Resources, and Hints for Collecting/Using Information. GCP TRUTHS. DIFFERENCES: COUNTRIES LODGING

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Introduction to Information

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  1. Introduction to Information GCP – Summer 2008 Chris Moberg

  2. Today’s Goals • Set GCP Expectations • Explain the Importance of Information (Secondary and Primary) in Your Projects • Share Tools, Resources, and Hints for Collecting/Using Information

  3. GCP TRUTHS DIFFERENCES: • COUNTRIES • LODGING • TEAMS • CLIENTS • PROJECT TASKS

  4. GCP TRUTHS EXAMPLES OF CLIENTS/TASKS: France 2002: McDonald’s Knockoff – Advertising/Promo Foam Manufacturer - Automobile – US Market Analysis Local Bank – Marketing Campaign Large, local employer – Event Planning – Summer Picnic

  5. GCP TRUTHS EXAMPLES OF CLIENTS/TASKS: Germany 2003: Community Center – Marketing Plan, Fundraising English Language Training Center – Marketing Champs Sports Bar – Marketing Small, Local Law Firm – Financial Analysis, Bookkeeping Dutch Entrepreneur – Manufacturing Opportunities – Poland

  6. GCP TRUTHS EXAMPLES OF CLIENTS/TASKS: Denmark 2004: Danish Entrepreneurship Center – Web and Marketing Horse Vitamins and Supplements – US Market Analysis Tri-athlete, running Gear – Web, Mkt, European Market Analysis

  7. GCP TRUTHS EXAMPLES OF CLIENTS/TASKS: France 2007: FNAC: Merchandising and Marketing: Conversion Rates Galleries Lafayette: Analysis and Recommendations for Men’s and Women’s Clothing Scandola; Limestone Manufacturer – analysis of U.S. and German markets Family-owned hotel chain in Dijon On-Line Travel Agency

  8. GCP TRUTHS SIMILARITIES: • OUT OF YOUR COMFORT ZONE • INTERNATIONAL TEAMS • THINGS WILL GO WRONG • RECOMMENDATIONS & DELIVERABLES

  9. GCP TRUTHS SIMILARITIES: 5. YOU WILL LEARN A LOT ABOUT YOURSELF AND HAVE A VALUABLE, FUN, AND MEANINGFUL EXPERIENCE.

  10. Research Boot Camp One of the biggest responsibilities for any manager or consultant is making decisions. What do managers use/consider when making decisions every day?

  11. Research Boot Camp While managers often use past experiences, intuition, knowledge, skills, and creativity when making decisions, the largest component of decision-making is information.

  12. CREDIBILITY AND VALUE Your recommendations will have low credibility and value if you do not: • Explain the process you used to develop recommendations. • Justify your recommendations with logic and information.

  13. Types of Information Two Broad Categories of Information • Secondary Data – data that already exists • Primary Data – data being collected for the current problem at hand

  14. Secondary Data Advantages: Disadvantages:

  15. Useful Secondary Resources Ohio University - Libraries Web Site http://ohio.edu Ohio University Bizwiki - http://www.library.ohiou.edu/subjects/bizwiki/index.php/Main_Page • Industry Info - http://www.library.ohiou.edu/subjects/bizwiki/index.php/Category:Industry_Information • Business Databases - http://infotree.library.ohiou.edu/byform:articledb/business-and-finance/

  16. Primary Data Advantages: Disadvantages:

  17. Primary Data Two Main Categories Qualitative • Focus Groups • Interviews • Observation • Benchmarking Studies • Projective Techniques Quantitative • Surveys • Experiments • Simulations

  18. On-Line Survey Tool The College of Business has a license for Qualtrics, an on-line survey tool. Dijon 2007 example www.qualtrics.com/uohio

  19. Important Hints to Remember About Information and Decision-Making • You will never make a decision/recommendation without risk or uncertainty. • All information has error and bias. It is your job as a manager to consider the reliability and validity of information and its source. • The value of secondary and primary data is that it should increase the likelihood of making good decisions/recommendations, but it never guarantees success.

  20. Be Careful and Respectful • Cultural Differences Matter. * Doing surveys are yucky in the U.S. – make sure to consider differences in questions asked and method in your country.

  21. Be Careful and Respectful 2. Rely Upon Your International Teammates. * They have country-specific expertise. * They will know the cultural issues you need to consider if you conduct primary research.

  22. Final Tips 1. Begin Your Presentation by Broadly Explaining What You Did to Produce Your Recommendations/Deliverables. 2. Always, Always, Always Sell/Justify/Support Your Decisions.

  23. Final Tips 3. Recs should be logical – You have low brand awareness. One rec we have to increase awareness is to become a main sponsor of XYZ festival because our consumer surveys and industry research found sponsorship significantly increases brand awareness. We also like this idea because it also further supports your company’s strong commitment to the community and the fee fits into your budget for this year.

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