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Lesson 1

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Lesson 1

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  1. Lesson 1 • Effectively Implement your Strategy • Have a strategy, and execute it • Strategies can most effectively be implemented if all members of the team are aware and educated • Delegation of tasks helps encourage organization and prevents chaos • Having someone building the base and others working on the top was a good use of delegation and using all team members to their potential.

  2. Lesson 2 • Learn how to manage your team • Make sure all ideas are considered • Choose the best one for the group that gets you to the desired end result the quickest • By collaborating ideas we were able to come up with the best tower. • We needed to have a time keeper to act as a manager and this was a shortfall of the group.

  3. Lesson 3 • Avoid Group Think • Many of the groups followed the strategies of other groups, but by thinking outside of the box we can differentiate our strategy and gain a competitive advantage over the other groups. • Forcing each team member to give input helps to create ideas that are different.

  4. Lesson 4 • Competitive Rivalry Exists • Firms within the same industry push themselves to do better when competition exists • Everyone wanted to be the leader and by creating this rivalry, the blocks continued to be stacked higher with each group that went.

  5. Lesson 5 • First Mover Disadvantage • In this competition it paid off to see the mistakes of some moves and the benefits of others. • Knowing exactly where you had to be in order to win was the most important • Also we lost out because of we were unaware of how much time we had. Had we been able to watch other teams we could have had a timer for the task.

  6. Sustainability Knowledge of The Laws of Operation • The last group showed how important it is for a firm to know what the laws are wherever they are doing business. Sustainability is extremely hard when products, like our structure, are easy to replicate The last groups were able to duplicate areas of the structure, but also improve where beginning groups had failed

  7. TEAMWORK A clear strategy ensures that each member of the team has a focus and knowledge of the ultimate goal.

  8. Experience Curve • As teams built their tower they learned as they went: what would work and what wouldn’t. • Every team watched the others and gained advantage from their competitors “Strategy” and their own original ideas. • Giving later teams more advantage.

  9. Risk of Innovation • Some teams took risks, and tried something new in hopes of reaching new heights. • Some failed • Uncertainty of results comes with innovation.