Creating Value from Something Ordinary
March 1, 2013:
Each year, all students enrolled in the Management 101 course compete in the Innovation Challenge, which asks teams to create as much value as possible using a common object – this year, paper towels. Competitive categories for the Challenge included Most Creative Idea, Most Efficient Use of Resources, and Largest Value Created.
For the Challenge, students were split into teams and given a week to complete the task. The judges were a panel comprised of members of the Menlo community. The purpose of the challenge is to teach students three things: how to work with each other, a key skill in the business world; the process of value creation, one of the main concepts in the market based economy; and that value has multiple dimensions, not just monetary value.
There were two winners in the Largest Value Created category: Design by Bounty – a dress made of paper towels; and a disposable baby blanket. The award for Most Creative idea went to Flowery Décor, designs to accent your home. The final category, Most Efficient Use of Resources was awarded to Port-A-Blinds, a portable, disposable roman shade. Each member of the winning teams received a $25 gift certificate from the Menlo College bookstore.