8th December – 11th December 2015
Time spent on project this week: 18 hours
This was our final lecture and was split into two parts:
The guest speaker was from the Aberystwyth University’s digital marketing department and explained about the various ways in which Aberystwyth University has to get itself out there on the market. She explained that there are various faires and events, where Aberystwyth University has representatives. There are representatives of the university (usually alumni) in foreign countries, that go to their educational institutes to market the university.
We were also told, that there is a hard balance that has to be maintained, in terms of the number of students vs rating of the university, as a good mix of both would allow the university to be profitable and remain in the race amongst better known universities, explained as follows:
- Long-term plans: Accept only the brilliant students, in order to raise the likelihood of getting students that attain higher grades and therefore raise the rating of the university.
- Short-term plans: Accept more students, even if their A-level (or equivalent) grades are not so good, thereby creating more students and making more money from them through quantity.
Bernie talked about lean-startups in his lecture. The lecture was about how effort should not be wasted on what you think the customers want, but what they will actually want. The lecture spoke about management and validated learning, which covers how profitable the idea is, how much ROI it can bring, how customers respond to products etc.
Innovation accounting: Avoid vanity metrics and all metrics should be (The three As):-
- Actionable (repeatable)
Finally we discussed, Pivot or Preserve, which is argument whether the idea is good enough to be changed and improved, or whether an aspect of it can be taken and used to create a different kind of business.
BIT group project
Formal meeting – 2h
On Wednesday evening, we sat down as a group for two hours and we made sure that everyone completes their tasks and sends them to me. As I had already completed the tasks assigned to me, I was compiling them as they came to me, checked all the work and compiled them as necessary. As Aloysius finished his work early too, he assisted me in this process.
Individual work on Business, group and technology plan – 4h
On Thursday morning, I went to Hugh Owen library, to make sure that the group final report is ready to be submitted, add the things that were missing and make sure to contact members of the group, who are yet to submit work and work on compiling the report.
Minutes of the meeting – 1h
Although there were no formal minutes, I sent messages or made phone calls, to remind everyone of their responsibilities and our aims for this week.
Informal meeting/ group work – 11h
In the afternoon on Thursday, although there was no formal meeting planned, Tufael joined me in the library and we collaborated, to complete the final group project and finalise it. For this, we had to change many sections, add parts and remove parts, to make it in line with what Bernie expected from the project and to make it look presentable. Much of the data was unformatted and had to be put into uniform tables, we made sure that all this raw data is put into more presentable, neatly displayed information. It was very helpful to have Tufael assist me, as he took entire responsibility of the technology report and making sure that it contains all the work that was arriving from our other group members, whilst simultaneously, I was working to finish the business and marketing plans. On my own, I would have had difficulties compiling everything simultaneously, with the time I had to do it in, as some of the work I had received very late.
Towards the end there were many compiling issues that we had to deal with, for example we could not put the technology plan with the other two, we spent a long time trying to find a way around it, but in the end I emailed Bernie and asked if we are allowed to submit them separately.