Objective:
- To generate ideas to meet a brief
- To explore opportunities by comparing and evaluating peer work
- To evaluate innovations within a limited time frame
- To develop judgement in order to make decisions to complete the task
Overview:
This surprisingly easy and fun classroom activity simulates an innovation marketplace. Students generate a topic-specific innovation and participate in amarketplace of ideas. The results demonstrate how and why the best innovations are not guaranteed market entry or success, emphasizing the human and social nature of entrepreneurial action. This fast paced marketplace activity works with large numbers of students, in open work spaces and can takes 10-20 minutes.
Activity
Starting the activity:
The instructor should ask students to generate an innovation within a short time frame (2-5 minutes maximum). It is recommended that all students generate an innovation related to a familiar topic to facilitate comparison. A useful question, which may also provide valuable feedback to the instructor or the institution generally, is: "How could your student experience [in this class / at this university] be improved?" Additional guidance is suggested:
- Encourage students to be creative or provocative, but suggest that the innovation be within the realm of reality. For example, the student experience might be improved by receiving £1 million on completing the course, but such an outcome isn't realistic.
- Ask students to write the innovation down in one short sentence. This helps commit the student to the idea, which plays a key role in the simulation.
- Encourage students to come up with one idea, and reassure them it does not need to be "spectacular" if they are struggling.
Running the marketplace: The instructor should ask all students to stand up. The instructor should read the rules and, if possible, display them on a screen. Students should be told that the activity runs for a limited time. Recommended marketplace times are: 10-25 students should take 5 minutes; 25-100 students takes 10 minutes; 100+ students will take 10-15 minutes.
Market Place Rules:
- Talk to anyone you want.
- End conversation with that person whenever you want.
- If someone's innovation is better than yours, for whatever reason, give your notecard/post-it to that person. You are now on that person’s team.
- An innovation must have at least one supporter, other than the inventor, to win
The instructor should explicitly initiate the activity, for example by saying "Go!" As the activity starts, the instructor may choose to prompt recalcitrant students to participate. In rare cases, students might attempt to share all their ideas by broadcasting them one at a time. It's best not to intervene, as these usually degrade to individual or small group conversations, but if it appears that true organization is emerging (e.g. sequential pitches and voting) the instructor might choose to break up organised activity by reminding them of the time limit or splitting the group in half.
Stopping the marketplace: The instructor should use good judgement to determine when to end the marketplace. Some small groups converge to a limited set of ideas quickly; large groups are unlikely to converge to only a few ideas within a reasonable time. The instructor should gain the attention of the students and ask them to stand where they are. Remind them that if student A has joined student B's team, then student A should give her notecard to student B. So some students should be holding numerous cards, some students should have their own card, and some students should not have a card.
The instructor should ask students without a card to sit down wherever is convenient.
It generally improves student engagement to list some or all of the "winning" ideas. The instructor may choose to whittle down the set of "winning" ideas depending on the size of the class. For example, in a class with 100 students, there may be 50 students holding cards. The instructor might ask students to sit down if they have less than 2 cards, less than 3 cards, etc. until few enough remain to read out and record. The instructor should ask the remaining "winning" ideas to read out their ideas, and may choose to record them on a board/flipchart. For larger groups, it may be interesting to note how many supporters the top ideas had accrued.
All students may then be asked to sit down as convenient.
The instructor may choose to comment on the winning ideas, especially if some are impossible, unusually inventive, or otherwise noteworthy. The instructor should then ask: "Are we guaranteed that the best idea won?" In many cases, students may note the lack of ideation time. The instructor may choose to address this or not as an unresolvable challenge, since it is not possible to know whether more time would lead to better ideas.
Below are some of the potentially useful lessons from the exercise. Sophisticated student groups may develop some or all of the lessons with limited prompting. Suggested prompts are provided. It may be useful to discuss one general concept, identify its "academic" label, and then move on to the next. The discussion should, obviously, be tailored to the type and number of students (undergrad vs. graduate, technical vs. business)
Concluding the activity: The instructor may remind students:
- Great ideas and innovations are drivers of technological and economic change.
- The best innovations are not guaranteed market success.
- The role of the entrepreneur is critical to the commercialization process, often generating unexpected or entirely unpredictable outcomes (George and Bock 2012).
- The entrepreneur does not have to be the same person as the inventor.
- Some drivers of commercialization success may be partly or entirely out of the inventor or entrepreneur's control.
The instructor may choose to collect all of the notecards, especially if the initiating question presents the potential for useful feedback. Instructors are encouraged to make the full set of ideas available to students after the activity for their own edification.
Skill Development:
This fast-paced activity builds student confidence in their decision-making and ability to handle new data within a short time period. The nature of the market place requires interpersonal skills which must be balanced against the time constraints of the challenge itself.
It can be powerful to debrief the whole group on their experience of the task, including their emotional responses to the challenge and how they handled the interpersonal elements. Important reflections can be gained by asking the students to consider:
- How they handled accessing the information they needed to make decisions?
- How would they complete the task if they were to conduct it again?
- How did they handle the speed and experience of the marketplace? And what would they do differently?
By reflecting upon their personal experience, as well as the challenge, the skill development is deepened and potential action points for future practice can be identified (relating to personal learning as to how to handle time pressures; ambiguous tasks; decision making etc).
Resources:
The activity may be conducted with no materials or setup; the use of post-its or notecards, a flipchart, chalkboard, or A/V setup are recommended. Post-its or notecards offer a record of the full set of innovations which may be of separate value.
Instructors should distribute one post-it note or notecard to each student and ensure that writing instruments are available. Similarly, instructors mayprefer a learning space that facilitates ease of student movement, though key lessons may be gained in a space that restricts movement by some or many students. (In addition background on drivers of innovation adoption may be provided at the instructors discretion and pedagogical preference).
Additional Resources
Bock’s Innovation Market Place: Resource Sheet