A Typical Day For A BSchool Student

Peter Crocker is a director of Flying Solo responsible for advertising and marketing. As a business copywriter, he partners with digital companies and business customers on websites and digital material. He's the co-author of Flying Solo Revisited-- How to go it alone in business. You might have seen his first article showcased first in our blog site last year.

And according to his most current blog post on http://www.flyingsolo.com.au this is how his very first project went at BSchool:

As I strolled (virtually) into BSchool’s online business school world with my brand new folder and incorrect bravado, I was instantly tossed into the firing line.

Last December I revealed, why I'm going back to business school as a guest of the group at BSchool.edu.au. Now, a couple of months in, it's time to check in on progress.

On the first day of term, before I even took a seat, I was quickly given the position as CEO of an independent breakfast cereal manufacturer, HERO CEREALS, directly competing with all the major global gamers.

I was notified that our sales were flat due to pressure from fierce competitors and innovations like liquid breakfasts, breakfast bars and healthier choices. The objective for the newly introduced CEO (me!) was to quickly develop products beyond our standard sugar cereals to grow market share and resume development.

They pressed for 'The Big Idea' for the year ahead, and all eyes were fixated on me. And, while I do consume breakfast most mornings, I'm uncertain that qualified me for the gig!

Armed with a stack of detailed business history, financial history, marketing research and reliable Google, my very first task was to prepare a comprehensive report for management analysing the competition, real-life market trends, economic forecasts, market research and consumer studies.

Following this examination of the marketplace, I needed to determine and examine the monetary and operational expediency of three alternatives that might take HERO CEREALS in a vibrant new direction. Lastly, I was asked to recommend directions backed by the research study and pitch it the board for approval.

While it may not necessarily seem like fun, it was a really rewarding procedure. And when challenged with analysing the opportunity cost portions, determining the present value of future capital and deriving a profitability index for each choice, I understood I was learning something new and important!

Something else new I learnt was an idea-generation method from the course book ‘Blue Ocean Technique’. It determines numerous ways to look across and beyond your market to see things in a different light. For instance:

·         Look throughout other markets - in this task I created concepts from examining the growing energy drink and coffee markets.

·         Look across the supply chain - for instance, could breakfast be offered like a treat direct to consumers through convenience stores or vending devices rather than simply grocery stores?

·         Looking across time - the long-term trends towards healthy consumption, and busy standard of living are very relevant for the breakfast market.

Enhancing the above analysis Adrian Giles, founder of Hitwise and the BSchool diploma of business coach for 'The Big Idea' module, offered the recommendations that while immersing yourself in the comprehensive information and market research is vital and essential.