Question

9) Why is a value proposition is so critical and what are the 4 elements needed in any value proposition? 10) How would you organize a team and what teamwork model would you use that would give you the most flexibility to address the dynamic issues that can come up on such a project?

Answer 1

Answer 9:- A value proposition is the set of benefits and values the company promises to deliver to customers to satisfy their needs. Since customers will usually choose products that offer the most value, it’s important that value propositions contain these elements: differentiating, relevant, compelling, and enduring. For a value proposition to be differentiating, it must be unique and have something that sets it apart from other direct or indirect competitive offerings. It must be relevant to the customer and the differentiation must actually matter to the customer. For it to matter to the customer and give them a reason to actually purchase it, it must be compelling and give the customer some sense of logic (tangible or emotional) to convince them to want it. Lastly, a value proposition must be enduring. This means that it’s longlasting and can stand the test of time. This also goes hand in hand with differentiating since enduring also means that the products are not easily duplicated by existing competitors or potential new entrants. As an example, P&G’s value proposition is to “provide branded products and services of superior quality and value that improve the lives of the world’s consumers, now and for generations to come.” P&G provides innovated products in the consumer goods industry through its well-known brands with superior quality. They fulfill their value proposition, making them the customers’ choice in many areas of the consumer goods industry

Answer 10:- Since work in a growth project can be very dynamic, a team must be flexible and be able to adapt to volatile situations they may face. These teams will be specific to each specific project because they would all face different issues. However, if I were to choose, I’d go with a cross-functional team. Cross-functional teams would be best for a growth project because they are made up of members from different functions of the firm. They would provide a variety of experiences and offer expertise from across various fields. This teamwork model would offer more flexibility and agility to address dynamic issues that could arise in a new project.

The other teamwork models have their own advantages but would not be best for a growth project. Since problem-solving teams are only brought to figure out a specific issue, it wouldn't be the best model to address dynamic issues. Work teams would be good in a business that's in its later stages, not something new like a growth initiative. Self-managed teams are empowered and although members of a growth project should be empowered, they may not be well equipped or experienced enough to handle conflicts. Virtual teams may be inefficient and too slow at communicating in order to face dynamic issues

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