Question: Make a peer review for this post : Throughout the simulation the one point I kept noticing was the lower the project funding cost or
Make a peer review for this post :
Throughout the simulation the one point I kept noticing was the lower the project funding cost or lower the risk level, the innovation level, revenue returns, and traffic would be just as low; The larger funded projects and more time-consuming projects showed greater success ratings and greater revenue returns.
Partnering with a local news radio show would use only 18% of the budget and 33% of the companys valued time. Running a special project with leading advertisers uses roughly 22% of the budget and 58% of the companys time. Both situations took a minuscule amount of time compared to the larger funded, and both situations lead to lower innovation levels. The CEO in the simulation responded to the situations with its not the most impressive idea hes ever heard. Even when offing incentives to employees, such as $5000 for winning ideas, the results were insignificant. I began by using internal resources but soon reached out to an outside audience for input. When sourcing through the presented ideas I used a mix of traditional and open approached innovation types.
By partnering with a large respected design firm, known for its innovative approaches and proven record results, I came to the conclusion that The Sun Citizen could implement a Game-ify user experience that would increase readership, revenue, and traffic flow by incorporating game-added badges, tracking, reviews, leadership boards, and prizes into the mobile experience. It allows for the overall experience to feel more modern and fulfilling. To come to the conclusion of the overall Game-ify user experience it required 60% of the budget immediately and 66% of the companys time (8 out of 12 weeks), but by partnering with this local design innovation firm the results were inspiring. The CEO of The Sun Citizen responded with fruitful feedback and asked when do we begin.
With great risk comes great reward -Thomas Jefferson. I feel I found this to be very true throughout the simulation. The $30,000 - $40,000 projects consumed the budget but produced innovative and effective results, vs the $5,000 - $10,000 that produced lower ratings and generated no new traffic or substantial revenue returns.
In order for The Sun Citizen to create success, it needs to not be afraid of taking risks. It needs to venture out from its current strategies and incorporate experts in the area to come to new conclusions and techniques.
The simulation process was entertaining and educating. I felt like an executive calling the shots. Thankfully it was play money because it took me a few times before I learned from my mistakes. I dont believe the simulation was extremely accurate with how real companies come to conclusions, but the overall experience was valuable and it gave an idea of the proper steps companies need to take.
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