This group assignment went very well. We were quite organized and the group stayed focused and on target throughout the discussion. I think the topic review and the agenda with time allocations definitely helped. We also managed to set up a weekly rotation for facilitators. I facilitated this first meeting of the full group, Daniel is next, etc.
I also enjoyed hearing the different perspectives of the group members which led us to define a mission for the organization before we began the consumer and market analysis. This put us all on the same page and solidified the concept enough to discuss it productively.
Notes from our group meeting are as follow:
AGENDA 9/26/11, 7:45-8:15pm
(1) Briefly review business idea (3 minutes)
Mission statement [consumer-oriented]: our business helps consumers make wise purchasing decisions that influence corporations to make products and business operations choices that are socially equitable, non-environmentally damaging and that support the communities in which they operate.
(2) Conduct Consumer Analysis and make notes (10 minutes)
A. Is our product/service makable? How do you know?
Yes, it is conceptual rather than physical and follows a path forged by other certifying bodies.
B. Is our product marketable?
Yes, the precedent for such a product has already been set.
C. What is the buying process?
Company engages business who wish to be recognized for their corporate social responsibility and triple bottom line adherence. We build the brand with these initial members and introduce it to consumers as a cobrand on products and with a big launch.
D. Who are the influencers?
Industry leaders and secondary leaders, consumers, media and editorialists and bloggers.
E. Who needs the product and why?
Corporations and individual consumers.
F. Is it planned or impulse buy?
Planned buy and long-term investment.
G. What are (or will be) the perception of our product?
Socially responsible, strict standards, highest level of credibility, triple bottom line, neutral certifying body
(3) Conduct Market Analysis and make notes (10 minutes)
A. Is there a market for our product? How do we know?
Yes, there is much confusion over corporate operations and the good/harm they do the society. Similar certification programs have worked well in focused markets.
B. What is the market Size, growth, segments, georgics [geographics/geographic segmentation (p.13)?]?
Potentially huge market -- challenge will be establishing the brand,
C. What are the trends
Growing confusion in the market place. Many scandals over corporate crime, particularly among “trusted” businesses. Three phases: first is connect with low-hanging fruit of existing socially responsible companies to sign on to the certification, phase two is to engage businesses that are on the fence with this. And phase three is to leverage social pressure to change the acceptable standards for business operations to adhere to model set out by the triple bottom line.
(4) Company name and group name (5 minutes)
Profit/not-for-profit dilemma: Kerry - act as bridge for existing organizations
-alternative: for-profit as stakeholder
[for next time: for profit vs non-profit; ask Eric too]
Business name still undecided.
(5) Designate leader for 10/3 meeting (2 minutes)
Daniel will lead 10/3 meeting.
Kerry will lead 10/10 meeting.
Chiori will lead 10/17 meeting.
Daniel found that there are two organizations that are doing something similar to our business. However, they do not have a consumer-directed brand:
GRI Global Reporting Initiative - focused on government and businesses?
ULE 880 - gov and biz only?
*http://carbonpig.com/article/sustainability-certification-programs-and-sustainability-reporting-protocols-overview [Daniel: GRI overlaps what we’re doing a lot; however, they don’t have “brand” on products]
*http://www.greenbiz.com/news/2010/08/02/sustainability-certification-companies-opens-public-comment
[Daniel: this is like what we’re doing too: “ULE 880 - Sustainability for Manufacturing Organizations" is a points-based standard that will feature three levels of certification. The 102 indicators aim to measure and rate the sustainability of an entire business, focusing on the full spectrum of social and environmental sustainability rather than the environment.”; again, no “brand” on products]
http://www.irca.org/certification/certification_11.html
http://www.greensupplychain.org/Green_Supply_Chain.org/About_Us.html
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