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Information Management: Lecture 1.5: Team Workshop

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  1. Information Management:Lecture 1.5: Team Workshop DIG 3563 Fall 2013 J. Michael Moshell University of Central Florida Original image* by Moshell et al . Imagery is fromWikimedia except where marked with *. Licensing is listed.

  2. The Usual Problem: TEAMS! They suck, don’t they? Either (a) your leader is an egomaniac, or (b) Your team members drop out without telling anybody, or • They can’t (or don’t) do what they say they will AND (d) there is no good way to choose team members. Prof assigns: You get stuck with the losers Choose friends: Not necessarily the brightest bulbs on the tree Random: Who ARE these people, anyway? Dreamstime .com

  3. Then, why have them? • Real businesses ARE teams • Prof can’t grade 50 projects • You might learn from each other SO we were looking for a new way to approach the problem. Last year, we tried an "entrepreneural model". Patricia Abon

  4. Then, why have them? • Real businesses ARE teams • Prof can’t grade 50 projects • You might learn from each other SO we were looking for a new way to approach the problem. And magically, there appeared a new model on the horizon. KEY IDEAS: Hire the best people for your team Pay them on a competitive basis, like the real world Fire them if they don’t perform Reward them (and yourself) for success Patricia Abon

  5. A worldwide organization, Startup Weekend, has helped conduct two events in Orlando. (Another in November) Moshell participated in Startup Weekend Education Individuals ‘pitch’ an idea for 60 seconds. People in audience vote-with-Postit Notes to select ten best Those people are designated as Entrepreneurs They then build and lead Corporations.

  6. Hence, a STARTUP GAME Pitch concepts Raise equity capital Form a corporation, hire staff Design product, market test, build Improve and extend the final product Participate in a Market Driven Evaluation

  7. To YOU, students in 3563 ------- From YOU (7500 Moshell Bucks)------- Hence, a STARTUP GAME Pitch concepts Raise equity capital Form a corporation, hire staff Design product, market test, build Improve and extend the final product Participate in a Market Driven Evaluation

  8. THE STARTUP GAME: KEY FEATURES • We are creating a ‘simulated economy’. • They will earn Bucks by several mechanisms • 3. Their grades for Project 3 • (20% of course grade) • were determined SOLELY by how many bucks they • had at the end of the semester.

  9. THE STARTUP GAME: KEY FEATURES • What ‘roles’ exist in this game? • Entrepreneur – pitch an idea, convince investors to fund it! • Sell stock, raise Equity Capital. You control lots of Bucks. • Worker – sell your services to an Entrepreneur

  10. THE ENTREPRENEUR’S PATH Up to 50 People Pitch ideas DIG4104c Students (~55 of them)

  11. THE ENTREPRENEUR’S PATH Up to 50 People Pitch ideas 10 Stage 1 Entrepreneurs Are chosen DIG4104c Students (~55 of them) Post-it Vote Everyone Builds Brief Resumés

  12. THE ENTREPRENEUR’S PATH Up to 50 People Pitch ideas 10 Stage 1 Entrepreneurs Are chosen DIG4104c Students (~55 of them) Post-it Vote 10 Ents Choose Prelim (design) Teams Everyone Builds Brief Resumés

  13. DIG 3563 With plenty bucks RAISING CAPITAL 10 ents from 4104c Investors Vote For 6 Best ideas

  14. DIG 3563 With plenty bucks RAISING CAPITAL 10 ents from 4104c I1 E1 Has 88k Bucks, 100 shares Investors Vote For 6 Best ideas Investors Buy Stock in Dutch- Auction I2 E2 Has 74k Bucks, 100 shares Etc…

  15. DIG 3563 With plenty bucks RAISING CAPITAL 10 ents from 4104c E1 I1 Has 77 Shares Of FLK I1 Has 77 Shares Of FLK Investors Vote For 6 Best ideas Investors Buy Stock in Dutch- Auction I2 I2 Has 65 Shares Of IBN I2 Has 65 Shares Of IBN Etc…

  16. Forming Public Corporations 6 Ents with Bucks Ents Hire Their teams

  17. PH Corporations: Receiving Funding (to pay your workers) eXchange Has I3’s 45k Bucks Ents Hire Their teams E3 Has 45k Bucks SUBSCRIBED 8/28: 15k

  18. Receiving Funding (to pay your workers) eXchange Has I3’s 45k Bucks Ents Hire Their teams E3 Has 45k Bucks SUBSCRIBED 8/28: 15k 9/27: 15k I3 review

  19. Receiving Funding (to pay your workers) eXchange Has I3’s 45k Bucks Ents Hire Their teams E3 Has 45k Bucks SUBSCRIBED 8/28: 15k 9/27: 15k I3 review 10/26: 15k I3 review

  20. The Equity Payoff – Final Review by Class X eXchange Has Market Earnings (allocated By Class X Review) I3 Stockholder E3 Entrepreneur Stockholder W21 Stockholder

  21. Well ... what happened? ALL the teams in the Web Design Workshop decided, up front, to go with communism. Everyone agreed to split the profit evenly. Nobody took explicit responsibility and leadership roles. And how did the projects turn out?

  22. Pretty good ... Not GREAT (with one exception) Not TERRIBLE. We had the usual disasters ... one guy never got hired, did his own project, sorta OK So, today we're gonna Workshop the problem.

  23. The TeamWorkShop 1. Divide into groups of 4 (this is NOT necessarily your semester-long Team) 2. Discuss previous team projects you've had, in high school or college. Ask this: * What structure worked best, and why? * What breakdowns occurred, and why? * What did you produce ... was it perfect?

  24. * What structure worked best, and why? Did you pick your groups, or be assigned to them? If you picked your group, how? Friends? Did you elect a leader? Did a natural leader emerge? How did you keep everyone engaged? Did you build and follow a design document? Did you build and follow a schedule? * What breakdowns occurred, and why? Did people drop out? Why? Did people slack? Why? How to motivate? Did people communicate? What's best way? WHAT WOULD YOU DO DIFFERENTLY?

  25. In 20 minutes we will start randomly sampling your groups. We will compile a "Best Practices" list Then we will set about building your Semester Project Team

  26. TIME TO MAKE TEAMS 0) ALL TEAMS have FOUR (4) Members Not 3, not 5. (except one odd-man-out team) 1) If you want to pick your own team, move to left of classroom 2) If you want me to randomly assign you to a team, move to right of room.

  27. PICK YOUR OWN TEAM 1) The MAIN CONSTRAINT: * Everyone must have available ONE HOUR (or more) at the same time to meet outside of class, when needed. 2) Other advice: See if you can get a techie and an artist and a writer on your team. You need all these skills. 3) Decide on your leadership model NOW.

  28. IF I ASSIGN TEAMS: 1) The MAIN CONSTRAINT: * Everyone must have available ONE HOUR (or more) at the same time to meet outside of class, when needed. 2) How to do it? I'll just assign you randomly and you introduce yourselves. a) Write schedules, find common time b) Check skill match. Need somebody?

  29. BEFORE YOU LEAVE CLASS TODAY: a) I must have a piece of paper with * Team Name * Members' names * Your Meeting Hour b) You must make sure that EVERY TEAM MEMBER has the team's * names * email * phone numbers – AND the meeting time!