CO-OP VIRTUAL PLACEMENT

Welcome to your Co-op Virtual Placement, where you will have an opportunity to meet and learn about a company and better understand their workplace.

Follow these steps to complete your

Co-op Virtual Placement

  • Meet your industry partner

  • Module 1 and complete Assignment #1.

  • Module 2 and complete Assignment #2.
  • Module 3 and complete Assignment #3.

  • Module 4 and complete Assignment #4.

  • Need tech help? Contact Ryan @ 226-314-2376 or flashpoint.ryan@gmail.com

  • Watch the training video by clicking the play button. Pause the video at any time.

  • Take a short & easy quiz (answers provided) located below.

  • Optional – For more information on the topic, click on Additional Resources

Meet Your Industry Partner


Meet Ctrl V, the World’s First Virtual Reality Arcade!

Get to know a bit about Ctrl V. Below you will find links that tell you more about the company you will be working with. .

Meet CEO, Ryan Brooks!  LIVE

We will be connecting virtually to get the inside story about Ctrl V.

Module 1 – Assignment 1


Your Challenge…….

Compare how VR can save training costs in Manufacturing/Aviation and Aerospace (in your Sector)

What does training currently look like in your sector?

  • Interview or research an individual that does training in the manufacturing/aviation and aerospace industry.
  • How much time is invested in with current training?
  • How much does it cost to have an experienced worker work as a trainer?
  • How much does it cost to have equipment and space used for training versus making money?
  • What are the safety risks involved with current training options?

For Assignment One: Create a new program/strategy to use VR Options in your SHSM sector or field of interest.

  • How could VR glasses provide a training solution in your sector?
  • How could VR be used to make training more cost effective in your sector?
  • How could VR be used to make training safer in your sector?

 Module 2 – Assignment 2


Think about the problem you have been asked to solve from your virtual presentation when using the PEST and Porters Five Forces analysis to better understand the problem you are facing.


EXTERNAL IMPACTS

Check out the 6 areas that a PESTEL analysis looks at.

  • Political: Are there any laws, government rules, or other legal rules that might impact your idea
  • Environmental: Does the availability of any work materials impact your idea? How about weather/seasons? And is there an impact to the business due to ethical or sustainable practices?
  • Social: Are there any social factors that impact the customers behaviour, habits, shared beliefs, or attitudes that ultimately impact the service and product?
  • Technological: Are there any technology changes that might impact the service or product?
  • Economic: What impact do economic factors like growth, exchange, interest rates, or inflation have?
  • Legal: Are there any consumer rights, product safety, advertising standards, or health and safety issues that might impact or limit your idea?

Module 2

PORTER’S FIVE FORCES

This model identifies and analyzes five areas that determine the competitiveness of the industry and its weaknesses and strengths. Check your answer using the Porters Five Forces analysis.

  • Customer Power: How many customers are in this industry (select up to 3)? What are their sizes and how powerful is their need for the product/service? How much do they care about the price of the product/service and how easily might they find a different product/service that might solve their problem?
  • Threat of New Competition: How hard might it be for a new company to provide the same products/services and what might make it hard (e.g. access to technology)? Is the product/service able to have a unique component that distinguishes it from others? What would a new company need to buy in order to enter this business and is it costly?
  • Competition Power: Are there many or just a few competitors in this industry? Where is the competition located and what methods do they use to sell, deliver, and make the product/service? Is this industry growing, declining, or is it stable?
  • Supplier Power: How many companies do they rely on getting their supplies from? Are there a lot of suppliers they can choose from? Is there any supplier offering unique products or services?
  • Threat of Substitution: Are there any costs to the customer if they decide to switch from what product/service they are using now to a new one? Is there any other product/service that is connected and can be substituted?

Module 3 – Assignment 3


INTERNAL IMPACTS

The impact on the success from internal factors including the actual product/service they sell, the location, the management skills and style, and how they lead their employees.

Unlike the external environment, the company has control over these factors. Check your solution with the Internal impacts list below

  • Leadership Style is the approach the leader takes when providing direction, making plans, and motivating people. Includes what they value from employees, effectiveness of communication with employees, and how positive they are in their approach.
  • Employee Strength is the level of motivation, hard-work, and talent each one holds. It also relates to relationships with other people and departments, and teamwork effectiveness.
  • Strategic risks due to the impacts of changes in technological evolutions or customer demand. These factors could pose as threats as they can alter how customers perceive your product. Based on these, customers might think a product is overpriced, dull, and outdated.
  • Innovation is essential to get one step ahead. Innovation could come in the form of marketing. It could also be through promotional initiatives in the marketing plan, staff training, and welfare. Embracing new technology is the best way to keep up with technological advancements.

SWOT

Review your external and internal impacts to develop a SWOT. A SWOT looks at internal strengths and weaknesses in relation to external opportunities and threats. Check your answer to your sector question using a SWOT analysis.

Strengths: What is great about the virtual reality arcade experience? What’s great about your idea – what does the company do that the customer likes?

Weaknesses: What about the virtual reality experience is a problem with current conditions?

Opportunities: What partners does Ctrl V have that make it stronger? Are there any future service/product expansion opportunities that your customer might be interested in?

Threats: What external things might impact your idea? What obstacles are facing your idea?

Module 4 – Assignment 4


IDENTIFY ALTERNATIVES

  • What decision criteria should be met before selecting a recommended solution? You may want to rank them based on which criteria is the most important to be met. Check to see if your alternative to the question below is the best one.
  • Check list:
    • Must be able to afford it (cost is limited to a certain dollar amount)
    • Must be completed within 3 months (timing matters)
    • Must be actionable without adding any new employees
    • Must not make any employees want to quit, no longer like the job, or create layoffs
    • Must get them the number of customers they want (e.g. 30, 300, 3000)
    • Must make their service/product more unique, and therefore more competitive
    • Does it result in environmental issues (e.g. pollution, wasted energy)?
    • Does it meet government regulations, city or regional by-laws, or break any other rules that may exist?
  • What three alternatives do you recommend the company considers to increase their success? Explain them in 1-2 paragraph(s) each.