“the micro lionheart challenge”€¦ · the swot analysis is a special tool for helping you...

© The LionHeart Challenge and all related materials are the copyright of Field Lockhart Associates

“THE MICRO LIONHEART CHALLENGE”

SCHOOL OR COLLEGE NAME:

STUDENT NAME: TEAM NO:

StoryBoard Diary

NATIONAL SPONSOR

The Chartered Institute of Management Accountantswww.cimaglobal.com

KEY SPONSORS AND CONTRIBUTORS

Maxon Ltdwww.maxon.net

The Chartered Institute of Marketingwww.cim.co.uk

Norland Managed Services Ltdwww.norlandmanagedservices.co.uk

Key Notewww.keynote.co.uk

Dear Student

Welcome to The Micro LionHeart ChallengeSpecial Event designed for your School !

We are delighted to have your participation andhope that the Day will be interesting,informative and enjoyable !

Today you will be assisted by a Team ofBusiness Coaches who will work with you toachieve the Tasks, Activities and Targets setfor the The Micro LionHeart Challenge. Therewill be lots to do in the time available, soremember to make the most of theexperience which is aimed at enriching yourknowledge and understanding of 'Enterprise'.

On Behalf of all the Team at The MicroLionHeart Challenge, we thank each andevery one of you for your time, input andparticipation today and wish you all greatgood luck !

Carpe Diem !

Best Wishes,

THE TEAM AT THEMICRO LIONHEART CHALLENGE

CHALLENGE SCHEDULE

1. INTRODUCTORY SESSION:• Introduction, Overview & Scene Setting for the Challenge• Kick-Start Motivation Session!

2. ANNOUNCEMENT OF 'THE CHALLENGE' TASKS,TIMESCALES & TARGETS:

• Mini Presentation of 'The StoryBoard Diary' with resumesof Challenge Tasks, Timescales and Target Delivery Outputs

• Introduction of The Challenge: 'Business Coaches'• Introduction of The Challenge: 'Judges'• Breakdown of Year Group Assembly: into Challenge Teams

facilitated by The Micro LionHeart Challenge Business Coaches• Teams and The Micro LionHeart Challenge Business

Coaches take up their Dedicated Workspace

3. TEAMS COMMENCE ACTIVITY:• With the direction, input and encouragement of

The Micro LionHeart Challenge Business Coaches, Teamsreferencing their 'The StoryBoard Diary' as a step-by stepguide, use their 'Team Pads' to work together to brainstormideas, evaluate business outcomes, and communicate keyfindings and outputs in their Final Business Report.

4. FINAL PHASE: DELIVERY & FEEDBACK• Teams and The Micro LionHeart Challenge Business

Coaches Assemble in The Main Hall• Delivery of Teams Mini Presentations and StoryBoards

(1 - 2 Minutes Per Team) • Judging & Announcement of Overall Winning Team & Key

Category Awards• Wind Down & Thank You!

COMPLETION OF SESSION

KEY LEARNING ACTIVITIES

Today, using The Micro LionHeart ChallengeStoryBoard Diary, you are going to learnabout...

• Building A Team

• Brainstorming an Idea

• Critical Analysis of a Product or Service

• Construction of Key Financial Formats

• Marketing: How to Differentiate yourProduct or Service

• Creative Presentation of the Team’sBusiness Idea via The Micro LionHeartChallenge StoryBoard

KEY CATEGORY AWARDS

• Best Business Finance• Most Effective Team• Best Final Presentation & StoryBoard

• Overall Champion Team

GOOD LUCK AND GET STARTED!

1

“Life is a Team Effort; No-one gets very far alone...”Words of Lee Iacocca - legendary former CEO of The Chrysler Corporation

StoryBoard Step 1: Develop Your Team

As the above Quote states, one of the most crucial steps toachieving success in any task, is to understand the importance ofTeamWork.

At The Micro LionHeart Challenge today, it is VITAL that youRESPECT, VALUE and APPRECIATE your Co-Team Members, aseach Member of the Team has a variety of SKILLS and TALENTSwhich will be INVALUABLE to achieving an OPTIMUMOUTCOME from today’s TASKS and TARGETS.

At the moment, you may not yet know your Co-Team Membersvery well, but BE ASSURED, that EACH PERSON IN THE TEAM,will have to STATE one of their TOP SKILLS and then SHARE thatTOP SKILL (and their other Skills too) with the Team, in order forthe Team to go forward.

THE BIG ‘IF’

NB: REMEMBER! THE ONLY WAY THAT YOUR TEAM CAN GOFORWARD AND ACHIEVE SUCCESS TODAY IS ‘IF’…….you can

Share IdeasTalk to one-anotherListen and Discuss thingsHave Patience with one-anotherAgree and Allocate TasksRespect Others OpinionsWork Hard and Well TogetherBe Open to Learning ‘New Things’

Now let’s get started with ‘DEVELOPING YOUR TEAM’…..

“Life is a Team Effort; No-one gets very far alone…”Words of Lee Iacocca - legendary former CEO of The Chrysler Corporation

2

TEAM FUNCTIONS (allocation of Team Roles)Please insert names below

TOP SKILL (please state)TEAM MEMBER (insert name below)

BUSINESS NAME: SLOGAN:

Please complete the following format:

3

StoryBoard Step 1: Develop Your Team

TEAMCO-ORDINATOR FINANCES

SCRIBES ARTISTICCREATIVE

STORYBOARDBUILDER PRESENTATION

StoryBoardScribe - TeamPad Insert 1

Now that you are aware of the skills and talents in your Team and havebeen allocated Key Team Roles you can now progress to brainstormingideas on Today’s Challenge Theme.

Please write down Today's Micro LionHeart Challenge Theme below:

This is the point at which You and Your Team can really start generatingsome great Ideas for a Product or Service!

Brainstorming is simply 'coming up with ideas' - not judging them! In asession, no-one should ever say: “that's a stupid idea' or 'that'll neverwork'. Judging the ideas comes later…So have patience and be open-minded!

KEY STEPS FOR BRAINSTORMING:

The StoryBoard Scribe will write the Challenge Theme down at the top of theTeam Pad. The StoryBoard Scribe will then write down ALL the ideassuggested by The Team, on the Team Pad, so that everyone can see. At thesame time another Scribe will note the idea on coloured cards and stick theseonto the Team Pad. Every idea MUST be noted, regardless of its merit!

BEGIN THE SESSION!

• Everyone just says out loud all the ideas that come into their heads.• StoryBoard Scribe writes them all up - and Students must NOT make

any negative comments on other people's suggestions !• The aim is to get as many ideas as possible i.e. you could easily come

up with 10 ideas!

• Fill up as much paper as you can• Be as imaginative as possible• After the set period, the Team Co-ordinator calls

the Brainstorming Session to an end.

SELECTING THE BEST IDEAS

Your Team should now have a range of differentideas on what your Product or Service could be.

As a Team, go through the Ideas and discuss which Team Scoreones the Team feels are The Best Ideas (1-10)

The StoryBoard Scribe will now include the Team’s best idea on theTeam Pad.

Chosen Idea:

4

StoryBoard Step 2: Brainstorming Your Idea



The SWOT Analysis is a special tool for helping you evaluate yourTeam’s idea. It makes you think hard about your chosen idea i.e.the good and bad things.

Please work on the SWOT Analysis format on your Team pad

before completing the StoryBoard Diary below:

Take the chosen idea produced by your Team during thebrainstorming session and put it through the SWOT analysisbelow. Your Business Coach will guide you through this process.

STRENGTHSWhat makes your product special and different, and would make your

customer want to go out and buy it:

5

StoryBoard Step 3: Business Analytical Tool - The SWOT Analysis


WEAKNESSESAnything about your product which might make you customer not want to buy it:

OPPORTUNITIESRange of different customers and possible uses for your product out there in

the market place:

THREATSRisks outside in the market place which could limit the success of your product:

SO WHAT IS MARKETING?

Marketing Activity to Quote Walt Disney is the “Magic Dust”that makes the Business either 'Succeed' or 'Fail'!

MARKETING IS THE 'ENGINE ROOM' OF THE BUSINESS

• It Drives Sales!• It collects Information on behalf of the Business about things

that are happening outside in the Market Environment eg.'changes' in Technology, consumer tastes, life-style changesetc - any of which could affect the Business.

• It communicates to everyone up and down and across allinterested Stakeholders both internal and external e.g. thepeople who manage the Business, and the Customers who buyproducts or services from the Business.

Out in today’s market place there are a variety of products andservices which at first sight seem to be the same, but in fact theyare not the same. These items are DIFFERENTIATED, and thiscould be by size, colour, material etc. (e.g. jackets, shoes etc)

Today, you and your Team are asked to really think aboutwhat DIFFERENTIATES your product or service.

The 4 Basic Marketing Mix Tools consist of:

As part of the Micro LionHeart Challenge, your Team are asked toconsider one of the key marketing mix tools i.e. PRODUCT

Can You and Your Team CLEARLY IDENTIFY what is ‘Special’and ‘Different’ about your chosen product or service from othercompetitors out in the market place.

Please work on the marketing USPs on your Team Pad beforecompleting the StoryBoard Diary on the next page.

* Unique Selling Points

6

StoryBoard Step 4: Marketing - Brainstorming Product USPs*

PRODUCT

PROMOTION

PRICE

PLACE

WHAT DO YOU THINK ARE YOUR PRODUCT’S USPs? WHAT IS YOUR PRODUCT’S PRIMARY USP?

PLEASE STATE WHY YOU THINK THIS IS THE MOST IMPORTANTUSP (20 WORD SUMMARY)

1

2

3

4

5

6

* Unique Selling Points

7

StoryBoard Step 4: Marketing - Brainstorming Product USPs*


REQUIREMENT: To Calculate a Basic Profit and Loss Account for 1 unitof your Product or Service. Please make an assumption of how much itwould cost to make 1 unit of your product.

KEY COSTS: MATERIALSList the materials used for 1 unit of your product or service with anassumption of how much these would cost:

KEY COSTS: LABOURPlease make an assumption of how many people it will take to make 1unit of your product or service. Also, make an assumption of how longit would take them to make 1 unit i.e. hours. You will need to estimatehow much you are paying your staff per hour.

Number of people:

Length of time to make 1 unit:

Wage rate per hour:

Total Cost of Labour for making 1 unit: (b)

TOTAL PRODUCTION COST

Total Material Cost: (a)

Total Labour Cost: (b)

Total Production Cost of making1 unit of your Product or Service

A major factor in determining the success of a business is the ability ofthe management to control its finances. Today at The Micro LionHeartChallenge you and your Team will consider one of the major FinancialReporting Formats: THE PROFIT AND LOSS ACCOUNT

Your Team will firstly consider profit and loss per unit and then progressonto completing a Basic Yearly Profit and Loss Account.Please work on your Team Pad before completing the Storyboard Diaryinserts below.

Total Cost of Materials for 1 unit: (a)

£

£

£

£

£

£

= £

£

x

x

+

= £

(c)

£

£

= £

8

StoryBoard Step 5: Business Finance


PROFIT AND LOSS PER UNIT

Now that you know how much it costs the business to make 1unit of your Product or Service, please decide on your SellingPrice.

Estimated Profit*

Selling Price for 1 unit

9

StoryBoard Step 5: Business Finance


SELLING PRICE PROFIT AND LOSS ACCOUNT FOR YEAR 1

Please now make an assumption of thenumber of units (of your Product orService) to be sold in year 1:

Estimated turnover for your business inyear 1: (selling price (e) x number ofunits sold in year 1 (f)):

units

£

Total Cost of producing 1 unit ofyour Product or Service:

£

£

+

= £

(c)

(d)

(e)

*PROFIT is the term which refers to an advantage or benefit derived from a businessactivity which results in having an excess of INCOME over EXPENDITURE

(f)

(g)

Since the start of the Day, using your Team’s Micro LionHeartStoryBoard, you have travelled along an action packed journey……and have now ….successfully… Developed a Team, BrainstormedIdeas for a successful Business Concept, carried out a criticalAnalysis of your Product or Service, considered the keyMarketing Concept of ‘Product Differentiation’ and haveConstructed Key Financials for the Team’s Business Concept.

In addition to the above, it is ESSENTIAL that your Team nowtakes The Final Step on the journey, and draws all of theKEY ENTERPRISE THEMES together to construct and deliver

before The Panel of Judges a Professional Business Presentationsupported by The Team’s Final StoryBoard PresentationCollage...

Please ensure that the Team ‘PRESENTS’ the FINALSTORYBOARD to THE PANEL OF JUDGES in a HIGHLYPROFESSIONAL, EYE-CATCHING and CREATIVE way.

The Presentation and StoryBoard should consider the followingKey Enterprise Themes (NB: Please make this as creative,innovative and visually appealing as possible)

10

The Micro LionHeart Challenge StoryBoard: The Final Step

BusinessName

TeamTop Skill

The Productor Service

Description

PrimaryUSP

Key FinancialConcept

A4ArtisticVisual

Slogan

YOU HAVE NOW COMPLETED THE STORYBOARD DIARY - WELL DONE TO YOU AND YOUR TEAM!

11

The Micro LionHeart Challenge Learning OutcomesIN LINE WITH THE LATEST OFSTED RECOMMENDATIONS FOR ENTERPRISE EDUCATION AND THE QCA’s WORK RELATED LEARNING FRAMEWORK

• Focus on the value of Teamwork as a key business skill• Identification of personal skills of individual Team members• Defining The Team's ‘Key Tasks and Functions' and breaking them down into

component parts.• Matching personal skills to the range of Key Team tasks and functions and

recording these• Organisation of individual Team Members and Allocating Tasks.• Committing to undertake roles and responsibilities within the Team to

complete required targets.• Following discussion, analysis and tasks achieved in the StoryBoard Diary by

individuals and teams - a real understanding and appreciation of the value ofa 'Can-Do' approach to getting jobs done efficiently.

• Listening to and taking on board the 'Views and Opinions' of other TeamMembers in the Final Decision-Making process. i.e. being open-minded andreceptive to new and different ideas from other people.

• Working as Part of a Team i.e. Joining in team discussions and brainstorms• Analysing Questions being asked in the StoryBoard Diary, and individually

and as a Team Brainstorming Ideas to provide Answers and potentialSolutions.

• Comparing alternative ideas through Team Discussions and then evaluatingand then eliminating these to identify a final agreed solution or outcome

• Brainstorming all Ideas and Reviewing Research and Findings of The Team toreach a final agreed decision on Product or Service to be reported to anexternal audience (Judges).

• Individually, and as a Team, being able to come up with New Ideas for thedesign of a Product or a Service for a defined Customer.

• Learning about a real Analytical Business Tool, the SWOT Analysis,understanding how this works and using SWOT to do a critical analysis of theTeam’s idea for a business concept.

• An Introduction to the concept of 'Marketing' in terms of its place within theoverall structure of a Business, and an Understanding of its 'role' in drivingthe Sales of a Product or Service.

• Definition and Understanding of the Business Concept: ‘The 4 BasicMarketing Mix Tools’ as the Key Components of Marketing.

• A Practical Working Knowledge and Focus on one of these: i.e. Product• Thinking carefully about the Product or Service USP, 'Individually' and as a

'Team', and then reviewing and discussing these in detail in order to makedecisions as to Final Reporting Outcomes on each.

• Finding out what makes up the Key Costs involved in running a Business andlooking at how these are grouped together and analysed e.g. Material Costsand Labour Costs.

• Looking at 'how' (key steps/aspects) to arrive at a final 'Selling Price' for aProduct or Service.

• Understanding and Defining what makes up the component parts of one ofthe most important Financial Statements of a Business i.e. The Profit andLoss Account.

• Practical Application of this knowledge to estimate and calculate practicalexamples of a Profit and Loss Account.

• Applying the 'methods' highlighted in the Examples provided in theStoryBoard Diary, to work out and put together Costs, Price and Profit for aProduct or Service.

• Managing the risk and uncertainty of an open-ended project to tighttimescales.

• Production of Final Business Report through Individual & TeamResponsibility, dedication and commitment to get the task done.

“the micro lionheart challenge”€¦ · the swot analysis is a special tool for helping you...

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