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Prepared By
Ms. C. Ranganayaki, MBA, SLET, M.Phil.,
Assistant Professor
 Design thinking is a human/ user-centric approach
whereby the people executing it look for
“alternative solutions to various problems.”
 Definition: DT looks for “a deep understanding of
the user, challenging the ongoing assumptions, and
redefining problems.”
 As Berlin-based CareerFoundry says, DT is “all
about solving complex problems in a user-centric
way.”
 A design thinking process in the case of a corporation,
especially, allows a company to work on complex issues.
They do so by “taking the processes and approaches that
designers use and applying them to problems that designers
don’t typically encounter,” says Camren Browne.
 A design thinking methodology can bring great results to a
company by effectively dealing with problems that seem
impossible or truly difficult to solve.
Design Thinking for Managers - Presentation
Stage 1: Empathize—Research Your Users' Needs
Stage 2: Define—State Your Users' Needs and
Problems
Stage 3: Ideate—Challenge Assumptions and Create
Ideas
Stage 4: Prototype—Start to Create Solutions
Stage 5: Test—Try Your Solutions Out
 A prototype is a product built to test ideas and changes
until it resembles the final product. You can mock-up
every feature and interaction in your prototype as in your
fully developed product, check if your idea works, and
verify the overall user-experience (UX) strategy.
 Prototyping is the process of transferring ideas and
experiments from your head to the physical world.
 A prototype can be a wall of post-it notes, a role-playing
exercise, a space, an object, an interface, or even a
storyboard.
 The resolution of your prototype should be proportional
to your project's progress.
 Keeping your prototypes rough and brief during early
explorations lets you learn quickly and study a
variety of options.
 Prototypes are most successful when they can be
experienced and interacted with by people, i.e. - the
design team, the user, and others.
 What you learn from those interactions can help you
develop greater empathy and develop effective
solutions.
Step 1 – Think about the precise content
Step 2 – State the need being solved
Step 3 – The process that led to defining the problem
as such
Step 4 – The ideation phase
Step 5 – Getting feedback from your coworkers
Step 6 – Presenting the prototype
Step 7 – Testing results
Step 8 – Debating the experience
o How effective and innovatively a problem can be solved. That
also spreads out to the creation of an innovative culture.
o This methodology is user-centric, another primary benefit is
how well it tends to end-users.
o Time constraints might be worth mentioning. This method can
take months to implement. And the need for user input must
also be counted.
 Personas
1. simplify communication and decision making
2. use efficiently in the design process
3. used for the development of marketing,
communication, to reflect the human perspective
4. used during the empathizing or defining phases
 Stakeholder Map
1. visual or physical representation
2. reflects the human and business perspective of DT.
3. charted and analyzed for various purposes.
 Customer Journey Map
1. a collection of touchpoints
2. interaction between a customer and a service provider
3. identify service innovation and problem areas
4. in empathy phase categorizing the method in human &
technical sides
5. converts the information into an intuitive, data-rich map of a
customer journey
 Service Blueprint
1. shows the steps and flows of service delivery- related to
stakeholders’ roles and the process.
2. Service blueprints show the actions between customers and
service providers during a service delivery.
3. process-oriented method for the business and technical
activities.
4. benefit in-front tasks—actions that can be seen by the
customer—and back tasks—actions that cannot be seen by customers, such as
employees in the back office
 Business Model Innovation
1. exploring market opportunities
2. visual way of handling economic, operational,
and managerial decisions.
3. used in the ideation phase.
 Rapid Prototyping
1. quick formation of visual and experiential
manifestations determine technologically possible solution.
2. It can support multidisciplinary teams in
collaborative settings
3. design and obtain direct feedback.
Leadership: Link design thinking initiatives to your
strategic goals. Provide direction, resources, and
commitment.
People: Enable champions to lead the change through
successful lighthouse projects. Build up an internal
design thinking community where best practices are
shared.
Process: Use the generic design thinking framework,
but evolve the method and tools so they support your
company’s objectives.
Environment: Develop and create collaborative
workspaces for your workforce. Use to co-innovate
with your customers and partners.
Design Thinking for Managers - Presentation
 An abundance mindset is to believe that the world is full of
enough resources and time for you to accomplish your goals.
 Divergent thinking is a type of creative process where several
solutions and ideas are offered to address a challenge.
 Brainstorming is a group problem-solving method, it requires
intensive, freewheeling discussion in which every member of
the group is encouraged to think aloud and suggest as many
ideas as possible based on their diverse knowledge.
Design Thinking for Managers - Presentation
Design Thinking for Managers - Presentation
 Appreciate people's emotional and physical
needs.
 Gain insight into the way people see,
understand and interact with the world
around them.
 Realize how lives are impacted within the
contexts being investigated.
 Find out what people mean rather than just
what they say — empathic research is
inherently subjective and is concerned with
motivations and thoughts, rather than facts.
 Empathize in design thinking, empathy
meaning, design thinking aktu notes, design
thinking process – YouTube
 Empathy Mapping | What Is An Empathy Map?
| Empathy Mapping In Design Thinking |
Simplilearn – YouTube
 Empathy Tool - YouTube
 User interviews
 Contextual inquiry
 Empathy map.
Design Thinking for Managers - Presentation
 This helps them focus on these users’ specific needs and desires
rather than attempting a generic product that may not be relevant
or useful.
 When designers proactively understand what potential consumers
need and want, they can craft experiences designed with this user
group specifically in mind; offering real value.
 One of the most effective ways to understand user needs is to
simply ask them.
 Conducting in-depth user interviews allows designers to better
understand the user’s needs, desires, and pain points.
 After the empathy stage and user research has taken place,
designers create UX Design artifacts like personas, user journeys,
empathy maps, and storyboards.
 These artifacts help design thinkers to interpret the research data
into meaningful insights and get a deeper understanding of the
customer journey that can be shared with the team and referred
to throughout the project.
 Through direct observation, designers can understand how
users use the product and uncover their needs, pain points, and
even unintended uses.
 This allows for data-driven decisions tailored specifically to the
user – leading to more effective products or services with
higher customer satisfaction rates.
 To gain valuable insights into user behaviours, designers can
use an array of ethnographic research methods like contextual
inquiry, diary studies, user interviews, and usability testing.
 Contextual inquiry involves observing and interviewing users in
their natural environment while they’re performing their tasks.
 Diary studies are when we ask users to keep a diary of their
activities and interactions with a product or service for us to
review with them later.
 Interviews and usability testing involve speaking with users and
asking them questions to understand more about the problem
and get feedback on our potential solution.
 By crafting a compelling narrative and using storytelling
techniques, we can engage users in a way that goes beyond
the surface-level features and benefits of a product or
service.
 Co-creating stories with users about their lived experiences
is a great way of encouraging the user to explore and share
their own experiences.
 We can then play these stories back to other customers to
hear how they resonate and where their experiences may
differ.
 By developing stories with users, we not only get to benefit
from hearing their reflections and thought processes, but we
get a human centered UX Design artifact (based on Value,
Usability, Adoptability, and Desirability) to share with our
team and stakeholders.
 By asking customers to reflect on their experiences and
asking probing questions along the way, we can deeply
understand what matters to them the most.
 We can then use this information to decide what to design
and how to design it.
 Two main approaches for speaking with users are, structured
and unstructured interviews.
 The best way to get to know your users is by speaking with them
directly.
 Structured interviews are when you have a specific set of
questions that you aim to work through with each customer.
 Keeping your questions consistent allows you to collect data
and compare the user’s responses.
 This can be particularly useful when you need to be able to
have a direct comparison or collect quantitative data.
 Unstructured interviews are when you don’t follow a
predetermined set of questions. You engage in open-ended
discussion with the user and let the conversation flow
naturally.
 Most interviews are a combination of both methods. The
interviewer may prepare a list of questions that acts as a
guide but will also follow interesting lines of thought and
conversation.
 Observational research is a non-intrusive method of research,
as it does not involve interacting with or manipulating the
subjects being observed.
 Observational research is a type of research where
researchers observe and record the behavior of people,
animals, or natural phenomena in their natural environment.
 There are several popular observational research methods,
including:
 Naturalistic observation, Participant observation, Structured
observation
Design Thinking for Managers - Presentation
Definition: Risk implies future uncertainty about
deviation from expected earnings or expected
outcome. Risk measures the uncertainty that an
investor is willing to take to realize a gain from an
investment.
Description: Risks are of different types and originate
from different situations. We have liquidity risk,
sovereign risk, insurance risk, business risk, default
risk, etc. Various risks originate due to the uncertainty
arising out of various factors that influence an
investment or a situation.
 Why, Where, When, How, Who….
 It is an examination of a given task that you
undertake at work, that could potentially cause
harm to people. The goal is to understand any
potential hazards, before then outlining and
undertaking reasonable steps to prevent harm.
 Risk Assessment | Risk Assessment Objective / 5
Steps / Risk Matrix /How to prepare Risk
Assessment - YouTube
 The risk-management process enables teams to assess
risks during the design process in order to reduce harm
to users and to the organization. Risk mitigation
involves systematically reducing the likelihood or the
impact of a risk.
 Risk assessment is the way organizations decide what to
do in the face of today’s complex security landscape.
Threats and vulnerabilities are everywhere. They could
come from an external actor or a careless user. They
may even be built into the network infrastructure.
 Baseline risk assessments
A process to characterize the current and potential
threats to human health and the environment that may be
posed by contaminants migrating to groundwater or
surface water; releasing to air; leaching through soil;
remaining in the soil and bio-accumulating in the food
chain.
This information may be useful in determining
whether a current or potential threat to human health or
the environment warrants remedial action.
 Issue based risk assessments
An Issue Based Risk Assessment is meant to
carry out a thorough study that will lead to action
plans for dealing with a lot of risks.
This type of assessment usually looks at things
like operational activities, processes, and business
functions that are based on systems.
Usually, it can be used to manage changes in a
task or an overall process.
It focuses on figuring out the risks that exist in
a specific task, process, or activity.
 Continuous risk assessments
A CRA is a data-driven, digitally enabled
approach to risk assessment and planning, providing
efficient monitoring of business operations, functions,
and processes.
Design Thinking for Managers - Presentation
Step 1: Establish organizational objectives
Step 2: Identify hazards
Step 3: Assess hazards
Step 4: Develop risk-reduction controls
Step 5: Implement controls
Step 6: Evaluate and monitor controls
 Discover
 Define
 Develop
 Deliver
 Ideation is a creative process where designers
generate ideas in sessions
(e.g., brainstorming, worst possible idea).
 It is the third stage in the Design Thinking process.
 Participants gather with open minds to produce as
many ideas as they can to address a problem
statement in a facilitated, judgement-free
environment.
 Webinar | Design Thinking: Ideate - YouTube
 Brainstorming – You build good ideas from each
other’s wild ideas.
 Brain dumping – This is like brainstorming, but
done individually.
 Brainwriting – This is like brainstorming, but
everyone writes down and passes ideas for others
to add to before discussing these.
 Brain walking – This is like brainwriting, but
members walk about the room, adding to others’
ideas.
 Worst Possible Idea – You take an inverted
brainstorming approach, emboldening more
reserved individuals to produce bad ideas and
yielding valuable threads.
 Challenging Assumptions – You overturn
established beliefs about problems, revealing fresh
perspectives.
 Mind mapping – You use this graphical technique
to connect ideas to problems’ major and minor
qualities.
 Sketching/ Sketch storming – You use rough
sketches/diagrams to express ideas/potential
solutions and explore the design space.
 Storyboarding – You develop a visual
problem/design/solution-related story to illustrate a
situation’s dynamics.
 SCAMPER – You question problems through
action verbs (“Substitute”, “Combine”, “Adapt”,
“Modify”, “Put to another use”, “Eliminate”,
“Reverse”) to produce solutions.
 Product innovation refers to changes that improve
design, materials, feel, look, capacity, functionality,
and overall user experience. An improvement can be
tangible, such as a physical product, or intangible,
like software or services.
 Innovation in Product Development-Design
Thinking-Unit-1 - YouTube
 Product innovation is good for the bottom line.
 Diversifying brings in new opportunities.
 Anticipating the needs of your customer boosts
retention.
 Innovation helps you keep up with the market.
 Brainstorm Ideas
 Develop concepts that satisfy customer needs
 Validate Concepts via testing
 Use customer segmentation to access the market
 Refine your concepts via prototyping
 It focuses on understanding of client’s needs,
planning of activities and proper organizing of all
human and non-human resources. It is founded on
the assumption that the entire organization is
involved in the process.
 New service development - YouTube
 Involve customer and employee.
 Employee service design thinking and techniques.
 The implementation of information technology
innovation is much more complex and process-
oriented than the creation of the innovation
itself.
 Proper implementation involves a tremendous
amount of organizational cooperation and
support in order for the innovation to be used
to its maximum or target potential
Design Thinking for Managers - Presentation
Design Thinking for Managers - Presentation
Design Thinking for Managers - Presentation
 Once you have empathized with your target market and defined a real
problem and/or opportunity, you are ready to start ideation.
 Instead of trying to solve for the entire problem, often it is much easier
and more manageable to break the problem up - a method called
problem decomposition.
 Before jumping straight to ideation, divide the problem up into several
sub problems and categorize accordingly. To do this, you start with
labelling the categories first. Categories represent the steps within a
product or service cycle.
 Review Products
 Make a Decision
 Place the Order
 Receive the Order
 The innovation identifies clearly where products are located.
 The innovation allows customers to easily review products.
MAKE A DECISION
 The innovation provides helpful information.
 The innovation motivates the customer to take action.
PLACE THE ORDER
• The innovation gives the customer a clear idea of the order queue.
• The innovation makes it convenient for the customer to place their order.
 The innovation clearly alerts the customer when their order is ready.
 The innovation makes it convenient for the customer to receive their
order.
 Now that the categories have been established and the sub problems
have been identified, it is time to start brainstorming.
 After your brainstorming session, it is important to review all ideas
and identify those that address primary and secondary needs
 https://blog.hubspot.com/marketing/brainstorm-productive
 What marketing strategies can we use to get people
to sign up for the paid version of our app?
 How can we get more people to download the
content on our site?
 Has this concept already been done?
 Has the technology already been created? Are there patents and/or
licensing that we should be aware of?
 Has this concept addressed all our users?
Explicit decomposition is
decomposing the design
problem at the beginning of the
design process, but an implicit
decomposition is created as the
designers solve the design
problem.
 Generate as many ideas a possible.
 Equal opportunity to participate.
 Freewheeling is encouraged.
 No criticism is allowed
 Let the ideas incubate.
 Basic requirement identification
 Developing the initial prototype
 Review of the prototype
 Revising the prototype
 Prototyping is a process in which design teams ideate, experiment
with, and bring concepts to life, ranging from paper ideas to digital
designs. At its core, a prototype is an early sample of a design that
allows users to visualize or interact with it before a final product is
developed.
 One of the most powerful aspects of prototyping is that, when
done well, it creates empathy for the customer
 It will save your time and money
 You can show and test your concept on the target user group
 It’s a useful reference for your developers
 It can serve as documentation for your project
 You get a chance to work together with your team on a tangible
artifact, which will lead to generating better ideas
 Low-Fidelity Prototyping
Low-fidelity prototyping involves the use of basic models or examples of the
product being tested. For example, the model might be incomplete and utilize just
a few of the features that will be available in the final design, or it might be
constructed using materials not intended for the finished article, such as wood,
paper, or metal for a plastic product
Examples
 Storyboarding.
 Sketching
 Paper Interface
 Role play
High-Fidelity Prototyping
 High-fidelity prototypes are prototypes that look and operate closer
to the finished product.
 example, a 3D plastic model with movable parts, CAD
 Low cost: The cost of low Fidelity prototype is extremely low.
 Fast: Without focusing on every interface detail, designers can just
follow their design ideas and create a simple and testing product within
a few minutes
 Easy to demonstrate, co-operate and iterate: Without too many
details, hello why prototype does not require money professional skills.
And more people can join and collaborate on the same project it is also
easy for designers to make changes and iterate the prototype during the
calibration.
 Easy to get feedback: Since a low fertility easy to carry and
demonstrate designers can also directly share it with other people to
collect design feedback.
 Easy to detect and tackle potential issues: A low Fidelity prototype
also allows designers to test use flows, interactions. It is good for
designer to detect and tackle potential issues quickly.
 Uncertainty during testing: With a low-fidelity prototype, it
might be unclear to test participants what is supposed to work
and what isn’t. A lowfidelity prototype can often require some
imagination from the user, typically based on a scenario that the
research team has written in advance, limiting the outcome of
user testing.
 Limited interactivity: It is impossible to convey complex
animations or transitions using this type of prototype.
 Meaningful feedback during usability testing: High-fidelity prototypes often
look like real products to users. This means that during usability testing sessions,
test participants will be more likely to behave naturally — as if they were
interacting with the real product.
 Testability of specific UI elements or interactions: With high-fidelity
interactivity, it’s possible to test graphical elements like affordance or specific
interactions, such as animated transitions and micro interactions.
 Easy buy-in from clients and stakeholders: This type of prototype is also good
for demonstrations to stakeholders. It gives clients and potential investors a clear
idea of how a product is supposed to work. A well-crafted high-fidelity prototype
gets people excited about your design in ways a low-fidelity, bare-bones prototype
cannot.
 Higher costs: In comparison with low-fidelity prototypes, creating
high-fidelity prototypes implies higher costs, both temporal and
financial.
 Timing and misunderstanding: Presenting or demonstrating high-
fidelity prototypes early in the design process can sometimes
become a distraction for stakeholders. A discussion on functionality
can quickly derail into an argument about a missing period, so it is
important to consider where the team is in the design process.
 Communication & discuss ideas with stakeholders.
 Develop requirements and /or specifications.
 Learning and problem solving.
 Evaluate interface effectiveness for communicating conceptual
models.
 Further Develop conceptual and physical design.
 Save time and money.
We define the prototyping strategy as the set of decisions that dictate
what actions will be taken to accomplish the development of the prototype(s).
1. First prototypes
2. Finished or presentation prototypes
3. Finished product
4. Working prototype plus model
5. Other support materials
 Rapid prototyping Where the design closely matches the
proposed finished product it is said to be a high fidelity prototype,
as opposed to a low fidelity prototype, where there is a marked
difference between the prototype and the final product.
 Rapid prototyping is a group of techniques used to quickly
fabricate a scale model of a physical part or assembly using three-
dimensional Computer Aided Design (CAD) data
 https://www.youtube.com/watch?v=-TDn25K-Jh4
Design Thinking for Managers - Presentation
 Virtual prototyping is a method in the process of product
development. It involves using computer-aided
design (CAD), computer-automated design (CAutoD) and computer-
aided engineering (CAE) software to validate a design before
committing to making a physical prototype. This is done by creating
(usually 3D) computer generated geometrical shapes (parts) and
either combining them into an "assembly" and testing different
mechanical motions, fit and function. The assembly or individual
parts could be opened in CAE software to simulate the behavior of
the product in the real world.
 https://www.youtube.com/watch?v=-TDn25K-Jh4
 https://www.youtube.com/watch?v=qVoeTDrF6_0
 1.4 Impact of Rapid Prototyping on
Product Development, digital or virtual
prototyping – YouTube
 What is virtual prototyping? - YouTube
 Examples of Decomposition in Everyday Life
 Decomposition is something we inherently do in our daily lives, even if
we don’t realize it.
 If you hosted a holiday dinner, you used decomposition to select the
menu, enlist support from others in the kitchen, task people with what to
bring, determine the process by which to cook the different elements,
and set the time for the event.
 If you went to the grocery store for said holiday dinner you used
decomposition to build your grocery list, guide the direction you took as
you meandered the aisles, the route you followed to and from the store,
and the vehicle in which you drove.
 If you’ve implemented a new program or initiative at your school, you
used decomposition to build your strategic plan, which included the
program’s vision, strategy for gaining buy-in, annual goals, and
everything else involved.
Brainstorming groups have consistently produced fewer
ideas than have the equivalent number of individuals working by
themselves. These results have been attributed to social loafing,
evaluation apprehension, and production blocking in groups. In
this study, a new brainstorming technique--
electronic brainstorming--that may reduce both production blocking
and evaluation apprehension was assessed.
 Electronic and nonelectronic groups and nominal and
interacting groups were compared in a 2 x 2 factorial design.
 Electronic groups were more productive than nonelectronic
groups, but the productivity of nominal and interacting groups
did not differ.
 In contrast, interacting groups felt better about the idea-
generation process than did nominal groups.
 Ways in which electronic brainstorming can reopen a long
dormant area of research and application are discussed.
Design Thinking for Managers - Presentation
Separate the buyers
from the users.
Test early and test
often
Leverage data to create a
fast feedback loop
 https://www.slideshare.net/emanabedalwahhab/prototyping-34600987
Identifying the goal & its key
features
Sketching primary screens &
wireframing
Turning wireframes into
prototypes
The final design
Design Thinking for Managers - Presentation
Design Thinking for Managers - Presentation
Design Thinking for Managers - Presentation
Design Thinking for Managers - Presentation
Design Thinking for Managers - Presentation
Know what you're
going to test
Don't tell your
testing group about
your product
Establish clear
goals for users
Prepare test
questions
Financial analysis is the study of a company, business, project, or other financial
entity to determine its financial status, performance, and potential. Companies use financial
analysis to decide on their policies and plans, and determine if a project is likely to do well
financially. Before investing money into a company, investors and potential buyers study a
company's investment potential.
Applying Design Thinking to Finance
 Innovation and efficiency do not have to be at odds
 Finding a balance between exploration and exploitation
 Building design into finance
Design Thinking for Managers - Presentation
Design Thinking for Managers - Presentation
Design Thinking for Managers - Presentation
Design Thinking for Managers - Presentation
 Fundamental analysis: Fundamental analysis aims to determine the value of the
business. It uses data such as the earnings per share (EPS) and other ratios. These
ratios must be analyzed based on the company’s economic and financial situation.
The financial analyst calculates the actual intrinsic value of the security and compares
it with the current price to determine if it is undervalued or overvalued. This is an
essential process for an investor to prevent investing in an overvalued company. An
undervalued one has more opportunities for a good return on investment.
Technical analysis: Technical analysis of a company ignores its financial
statements and studies its performance in the markets. The market activity, such as
moving averages, reveals how much the security prices fluctuate and the market
sentiments driving the changes. It is an external analysis as opposed to an internal
analysis. It uses market trends and publicly available information to assess the
company's finances.
 Look At Your Business’s Financial Statements
 Check Customer Satisfaction
 Average How Many New Customers You Get
 Conduct Performance Reviews
 Stay Current On The Market
 Assess Your Own Expectations
1. Customer Involvement
2. Customer Satisfaction
3. Customer Feedback
4. Customer Experience
5. Traditional KPIs
6. Turnaround Times
7. Employee Satisfaction with Design Projects
8. Design Thinking Maturity
9. Design Thinking Process and Activities
10. Design Thinking Capabilities
11. Outcomes and Roadmap Items
12. Benchmark Design vs Traditional Thinking
Design Thinking for Managers - Presentation
 A product is an item for sale. Most importantly, it is a
physical item that is tangible. We can sell, buy, store, and
transport products. When the sale is complete, we can
move the product, return it, or even replace it for another
product.
 A service as a transaction that does not involve transfer of
physical goods from the seller to the buyer. It is basically a
work that a person/persons do for another individual.
Design Thinking for Managers - Presentation
 Unaware: Before the customer even knows about the
service
 Aware: The customer learns about the service
 Interested: The customer is interested in the service, and
considering it
 Buy/contract: The customer signs up, purchases, or
contracts to receive the service
 Receive: The customer gets the service for the first time
(think “onboarding”)
 Early use: The customer is setting up and using the service
for the first time (think “first time use”)
 Normal use: The customer is a regular, more experienced user of
the service, and this is their normal experience of the service
working well
 Change: During normal use… the service changes (e.G. “New
feature launched!” Or “major upgrade”) and it impacts the
customer (what is the experience around this change?)
 Incident: During normal use… the service goes through
a failure (e.G. An outage, or a botched delivery) and it impacts the
customer (what is the experience around this incident?)
 Reconsider: The customer reconsiders their service “contract” and
thinks about leaving
 Leave: The customer leaves the service (what is their lasting
impression?)
Product economics are models for production,
competitive advantage and consumer behavior that are
applicable to product marketing. This includes product
differentiation, relative advantage and pricing theory that is
useful in developing and marketing products.
 Market saturation
 Product demand
Stage 1: Generating the concept
Stage 2: Concept screening
Stage 3: Preliminary design
Stage 4: Design evaluation and improvement
Stage 5: Prototyping and final design
Stage 6: Developing the operations process
The experience cycle model describes the steps people
go through in building a relationship with a product or
service:
 Connecting (first impression)
 Becoming oriented (understanding what’s possible)
 Interacting with the product (direct experience)
 Extending perception or skill and use (mastery)
 Telling others (teaching or spreading activation)
A good product or service experience is:
 Compelling (it captures the user’s imagination)
 Orienting (it helps users navigate the product and the
world)
 Embedded (it becomes a part of users’ lives)
 Generative (it unfolds, growing as users’ skills increase)
 Reverberating (it delights so much that users tell other
people about it)
Design Thinking for Managers - Presentation
 Healthcare
 Automobiles
 Food industry
 Education institution
A project finance model is a specialized financial
model, the purpose of which is to assess the economic
feasibility of the project in question. The model's output can
also be used in structuring, or "sculpting", the project finance
deal.
Design Thinking for Managers - Presentation

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Design Thinking for Managers - Presentation

  • 1. Prepared By Ms. C. Ranganayaki, MBA, SLET, M.Phil., Assistant Professor
  • 2.  Design thinking is a human/ user-centric approach whereby the people executing it look for “alternative solutions to various problems.”  Definition: DT looks for “a deep understanding of the user, challenging the ongoing assumptions, and redefining problems.”  As Berlin-based CareerFoundry says, DT is “all about solving complex problems in a user-centric way.”
  • 3.  A design thinking process in the case of a corporation, especially, allows a company to work on complex issues. They do so by “taking the processes and approaches that designers use and applying them to problems that designers don’t typically encounter,” says Camren Browne.  A design thinking methodology can bring great results to a company by effectively dealing with problems that seem impossible or truly difficult to solve.
  • 5. Stage 1: Empathize—Research Your Users' Needs Stage 2: Define—State Your Users' Needs and Problems Stage 3: Ideate—Challenge Assumptions and Create Ideas Stage 4: Prototype—Start to Create Solutions Stage 5: Test—Try Your Solutions Out
  • 6.  A prototype is a product built to test ideas and changes until it resembles the final product. You can mock-up every feature and interaction in your prototype as in your fully developed product, check if your idea works, and verify the overall user-experience (UX) strategy.  Prototyping is the process of transferring ideas and experiments from your head to the physical world.  A prototype can be a wall of post-it notes, a role-playing exercise, a space, an object, an interface, or even a storyboard.  The resolution of your prototype should be proportional to your project's progress.
  • 7.  Keeping your prototypes rough and brief during early explorations lets you learn quickly and study a variety of options.  Prototypes are most successful when they can be experienced and interacted with by people, i.e. - the design team, the user, and others.  What you learn from those interactions can help you develop greater empathy and develop effective solutions.
  • 8. Step 1 – Think about the precise content Step 2 – State the need being solved Step 3 – The process that led to defining the problem as such Step 4 – The ideation phase Step 5 – Getting feedback from your coworkers Step 6 – Presenting the prototype Step 7 – Testing results Step 8 – Debating the experience
  • 9. o How effective and innovatively a problem can be solved. That also spreads out to the creation of an innovative culture. o This methodology is user-centric, another primary benefit is how well it tends to end-users. o Time constraints might be worth mentioning. This method can take months to implement. And the need for user input must also be counted.
  • 10.  Personas 1. simplify communication and decision making 2. use efficiently in the design process 3. used for the development of marketing, communication, to reflect the human perspective 4. used during the empathizing or defining phases  Stakeholder Map 1. visual or physical representation 2. reflects the human and business perspective of DT. 3. charted and analyzed for various purposes.
  • 11.  Customer Journey Map 1. a collection of touchpoints 2. interaction between a customer and a service provider 3. identify service innovation and problem areas 4. in empathy phase categorizing the method in human & technical sides 5. converts the information into an intuitive, data-rich map of a customer journey  Service Blueprint 1. shows the steps and flows of service delivery- related to stakeholders’ roles and the process. 2. Service blueprints show the actions between customers and service providers during a service delivery. 3. process-oriented method for the business and technical activities. 4. benefit in-front tasks—actions that can be seen by the customer—and back tasks—actions that cannot be seen by customers, such as employees in the back office
  • 12.  Business Model Innovation 1. exploring market opportunities 2. visual way of handling economic, operational, and managerial decisions. 3. used in the ideation phase.  Rapid Prototyping 1. quick formation of visual and experiential manifestations determine technologically possible solution. 2. It can support multidisciplinary teams in collaborative settings 3. design and obtain direct feedback.
  • 13. Leadership: Link design thinking initiatives to your strategic goals. Provide direction, resources, and commitment. People: Enable champions to lead the change through successful lighthouse projects. Build up an internal design thinking community where best practices are shared.
  • 14. Process: Use the generic design thinking framework, but evolve the method and tools so they support your company’s objectives. Environment: Develop and create collaborative workspaces for your workforce. Use to co-innovate with your customers and partners.
  • 16.  An abundance mindset is to believe that the world is full of enough resources and time for you to accomplish your goals.  Divergent thinking is a type of creative process where several solutions and ideas are offered to address a challenge.  Brainstorming is a group problem-solving method, it requires intensive, freewheeling discussion in which every member of the group is encouraged to think aloud and suggest as many ideas as possible based on their diverse knowledge.
  • 19.  Appreciate people's emotional and physical needs.  Gain insight into the way people see, understand and interact with the world around them.  Realize how lives are impacted within the contexts being investigated.  Find out what people mean rather than just what they say — empathic research is inherently subjective and is concerned with motivations and thoughts, rather than facts.
  • 20.  Empathize in design thinking, empathy meaning, design thinking aktu notes, design thinking process – YouTube  Empathy Mapping | What Is An Empathy Map? | Empathy Mapping In Design Thinking | Simplilearn – YouTube  Empathy Tool - YouTube
  • 21.  User interviews  Contextual inquiry  Empathy map.
  • 23.  This helps them focus on these users’ specific needs and desires rather than attempting a generic product that may not be relevant or useful.  When designers proactively understand what potential consumers need and want, they can craft experiences designed with this user group specifically in mind; offering real value.  One of the most effective ways to understand user needs is to simply ask them.  Conducting in-depth user interviews allows designers to better understand the user’s needs, desires, and pain points.  After the empathy stage and user research has taken place, designers create UX Design artifacts like personas, user journeys, empathy maps, and storyboards.  These artifacts help design thinkers to interpret the research data into meaningful insights and get a deeper understanding of the customer journey that can be shared with the team and referred to throughout the project.
  • 24.  Through direct observation, designers can understand how users use the product and uncover their needs, pain points, and even unintended uses.  This allows for data-driven decisions tailored specifically to the user – leading to more effective products or services with higher customer satisfaction rates.  To gain valuable insights into user behaviours, designers can use an array of ethnographic research methods like contextual inquiry, diary studies, user interviews, and usability testing.  Contextual inquiry involves observing and interviewing users in their natural environment while they’re performing their tasks.  Diary studies are when we ask users to keep a diary of their activities and interactions with a product or service for us to review with them later.  Interviews and usability testing involve speaking with users and asking them questions to understand more about the problem and get feedback on our potential solution.
  • 25.  By crafting a compelling narrative and using storytelling techniques, we can engage users in a way that goes beyond the surface-level features and benefits of a product or service.  Co-creating stories with users about their lived experiences is a great way of encouraging the user to explore and share their own experiences.  We can then play these stories back to other customers to hear how they resonate and where their experiences may differ.  By developing stories with users, we not only get to benefit from hearing their reflections and thought processes, but we get a human centered UX Design artifact (based on Value, Usability, Adoptability, and Desirability) to share with our team and stakeholders.
  • 26.  By asking customers to reflect on their experiences and asking probing questions along the way, we can deeply understand what matters to them the most.  We can then use this information to decide what to design and how to design it.  Two main approaches for speaking with users are, structured and unstructured interviews.  The best way to get to know your users is by speaking with them directly.
  • 27.  Structured interviews are when you have a specific set of questions that you aim to work through with each customer.  Keeping your questions consistent allows you to collect data and compare the user’s responses.  This can be particularly useful when you need to be able to have a direct comparison or collect quantitative data.  Unstructured interviews are when you don’t follow a predetermined set of questions. You engage in open-ended discussion with the user and let the conversation flow naturally.  Most interviews are a combination of both methods. The interviewer may prepare a list of questions that acts as a guide but will also follow interesting lines of thought and conversation.
  • 28.  Observational research is a non-intrusive method of research, as it does not involve interacting with or manipulating the subjects being observed.  Observational research is a type of research where researchers observe and record the behavior of people, animals, or natural phenomena in their natural environment.  There are several popular observational research methods, including:  Naturalistic observation, Participant observation, Structured observation
  • 30. Definition: Risk implies future uncertainty about deviation from expected earnings or expected outcome. Risk measures the uncertainty that an investor is willing to take to realize a gain from an investment. Description: Risks are of different types and originate from different situations. We have liquidity risk, sovereign risk, insurance risk, business risk, default risk, etc. Various risks originate due to the uncertainty arising out of various factors that influence an investment or a situation.
  • 31.  Why, Where, When, How, Who….  It is an examination of a given task that you undertake at work, that could potentially cause harm to people. The goal is to understand any potential hazards, before then outlining and undertaking reasonable steps to prevent harm.  Risk Assessment | Risk Assessment Objective / 5 Steps / Risk Matrix /How to prepare Risk Assessment - YouTube
  • 32.  The risk-management process enables teams to assess risks during the design process in order to reduce harm to users and to the organization. Risk mitigation involves systematically reducing the likelihood or the impact of a risk.  Risk assessment is the way organizations decide what to do in the face of today’s complex security landscape. Threats and vulnerabilities are everywhere. They could come from an external actor or a careless user. They may even be built into the network infrastructure.
  • 33.  Baseline risk assessments A process to characterize the current and potential threats to human health and the environment that may be posed by contaminants migrating to groundwater or surface water; releasing to air; leaching through soil; remaining in the soil and bio-accumulating in the food chain. This information may be useful in determining whether a current or potential threat to human health or the environment warrants remedial action.
  • 34.  Issue based risk assessments An Issue Based Risk Assessment is meant to carry out a thorough study that will lead to action plans for dealing with a lot of risks. This type of assessment usually looks at things like operational activities, processes, and business functions that are based on systems. Usually, it can be used to manage changes in a task or an overall process. It focuses on figuring out the risks that exist in a specific task, process, or activity.  Continuous risk assessments A CRA is a data-driven, digitally enabled approach to risk assessment and planning, providing efficient monitoring of business operations, functions, and processes.
  • 36. Step 1: Establish organizational objectives Step 2: Identify hazards Step 3: Assess hazards Step 4: Develop risk-reduction controls Step 5: Implement controls Step 6: Evaluate and monitor controls
  • 37.  Discover  Define  Develop  Deliver
  • 38.  Ideation is a creative process where designers generate ideas in sessions (e.g., brainstorming, worst possible idea).  It is the third stage in the Design Thinking process.  Participants gather with open minds to produce as many ideas as they can to address a problem statement in a facilitated, judgement-free environment.  Webinar | Design Thinking: Ideate - YouTube
  • 39.  Brainstorming – You build good ideas from each other’s wild ideas.  Brain dumping – This is like brainstorming, but done individually.  Brainwriting – This is like brainstorming, but everyone writes down and passes ideas for others to add to before discussing these.  Brain walking – This is like brainwriting, but members walk about the room, adding to others’ ideas.
  • 40.  Worst Possible Idea – You take an inverted brainstorming approach, emboldening more reserved individuals to produce bad ideas and yielding valuable threads.  Challenging Assumptions – You overturn established beliefs about problems, revealing fresh perspectives.  Mind mapping – You use this graphical technique to connect ideas to problems’ major and minor qualities.
  • 41.  Sketching/ Sketch storming – You use rough sketches/diagrams to express ideas/potential solutions and explore the design space.  Storyboarding – You develop a visual problem/design/solution-related story to illustrate a situation’s dynamics.  SCAMPER – You question problems through action verbs (“Substitute”, “Combine”, “Adapt”, “Modify”, “Put to another use”, “Eliminate”, “Reverse”) to produce solutions.
  • 42.  Product innovation refers to changes that improve design, materials, feel, look, capacity, functionality, and overall user experience. An improvement can be tangible, such as a physical product, or intangible, like software or services.  Innovation in Product Development-Design Thinking-Unit-1 - YouTube
  • 43.  Product innovation is good for the bottom line.  Diversifying brings in new opportunities.  Anticipating the needs of your customer boosts retention.  Innovation helps you keep up with the market.
  • 44.  Brainstorm Ideas  Develop concepts that satisfy customer needs  Validate Concepts via testing  Use customer segmentation to access the market  Refine your concepts via prototyping
  • 45.  It focuses on understanding of client’s needs, planning of activities and proper organizing of all human and non-human resources. It is founded on the assumption that the entire organization is involved in the process.  New service development - YouTube
  • 46.  Involve customer and employee.  Employee service design thinking and techniques.
  • 47.  The implementation of information technology innovation is much more complex and process- oriented than the creation of the innovation itself.  Proper implementation involves a tremendous amount of organizational cooperation and support in order for the innovation to be used to its maximum or target potential
  • 51.  Once you have empathized with your target market and defined a real problem and/or opportunity, you are ready to start ideation.  Instead of trying to solve for the entire problem, often it is much easier and more manageable to break the problem up - a method called problem decomposition.
  • 52.  Before jumping straight to ideation, divide the problem up into several sub problems and categorize accordingly. To do this, you start with labelling the categories first. Categories represent the steps within a product or service cycle.  Review Products  Make a Decision  Place the Order  Receive the Order
  • 53.  The innovation identifies clearly where products are located.  The innovation allows customers to easily review products. MAKE A DECISION  The innovation provides helpful information.  The innovation motivates the customer to take action. PLACE THE ORDER • The innovation gives the customer a clear idea of the order queue. • The innovation makes it convenient for the customer to place their order.
  • 54.  The innovation clearly alerts the customer when their order is ready.  The innovation makes it convenient for the customer to receive their order.
  • 55.  Now that the categories have been established and the sub problems have been identified, it is time to start brainstorming.  After your brainstorming session, it is important to review all ideas and identify those that address primary and secondary needs  https://blog.hubspot.com/marketing/brainstorm-productive
  • 56.  What marketing strategies can we use to get people to sign up for the paid version of our app?  How can we get more people to download the content on our site?
  • 57.  Has this concept already been done?  Has the technology already been created? Are there patents and/or licensing that we should be aware of?  Has this concept addressed all our users?
  • 58. Explicit decomposition is decomposing the design problem at the beginning of the design process, but an implicit decomposition is created as the designers solve the design problem.
  • 59.  Generate as many ideas a possible.  Equal opportunity to participate.  Freewheeling is encouraged.  No criticism is allowed  Let the ideas incubate.
  • 60.  Basic requirement identification  Developing the initial prototype  Review of the prototype  Revising the prototype
  • 61.  Prototyping is a process in which design teams ideate, experiment with, and bring concepts to life, ranging from paper ideas to digital designs. At its core, a prototype is an early sample of a design that allows users to visualize or interact with it before a final product is developed.
  • 62.  One of the most powerful aspects of prototyping is that, when done well, it creates empathy for the customer  It will save your time and money  You can show and test your concept on the target user group  It’s a useful reference for your developers  It can serve as documentation for your project  You get a chance to work together with your team on a tangible artifact, which will lead to generating better ideas
  • 63.  Low-Fidelity Prototyping Low-fidelity prototyping involves the use of basic models or examples of the product being tested. For example, the model might be incomplete and utilize just a few of the features that will be available in the final design, or it might be constructed using materials not intended for the finished article, such as wood, paper, or metal for a plastic product Examples  Storyboarding.  Sketching  Paper Interface  Role play
  • 64. High-Fidelity Prototyping  High-fidelity prototypes are prototypes that look and operate closer to the finished product.  example, a 3D plastic model with movable parts, CAD
  • 65.  Low cost: The cost of low Fidelity prototype is extremely low.  Fast: Without focusing on every interface detail, designers can just follow their design ideas and create a simple and testing product within a few minutes  Easy to demonstrate, co-operate and iterate: Without too many details, hello why prototype does not require money professional skills. And more people can join and collaborate on the same project it is also easy for designers to make changes and iterate the prototype during the calibration.  Easy to get feedback: Since a low fertility easy to carry and demonstrate designers can also directly share it with other people to collect design feedback.  Easy to detect and tackle potential issues: A low Fidelity prototype also allows designers to test use flows, interactions. It is good for designer to detect and tackle potential issues quickly.
  • 66.  Uncertainty during testing: With a low-fidelity prototype, it might be unclear to test participants what is supposed to work and what isn’t. A lowfidelity prototype can often require some imagination from the user, typically based on a scenario that the research team has written in advance, limiting the outcome of user testing.  Limited interactivity: It is impossible to convey complex animations or transitions using this type of prototype.
  • 67.  Meaningful feedback during usability testing: High-fidelity prototypes often look like real products to users. This means that during usability testing sessions, test participants will be more likely to behave naturally — as if they were interacting with the real product.  Testability of specific UI elements or interactions: With high-fidelity interactivity, it’s possible to test graphical elements like affordance or specific interactions, such as animated transitions and micro interactions.  Easy buy-in from clients and stakeholders: This type of prototype is also good for demonstrations to stakeholders. It gives clients and potential investors a clear idea of how a product is supposed to work. A well-crafted high-fidelity prototype gets people excited about your design in ways a low-fidelity, bare-bones prototype cannot.
  • 68.  Higher costs: In comparison with low-fidelity prototypes, creating high-fidelity prototypes implies higher costs, both temporal and financial.  Timing and misunderstanding: Presenting or demonstrating high- fidelity prototypes early in the design process can sometimes become a distraction for stakeholders. A discussion on functionality can quickly derail into an argument about a missing period, so it is important to consider where the team is in the design process.
  • 69.  Communication & discuss ideas with stakeholders.  Develop requirements and /or specifications.  Learning and problem solving.  Evaluate interface effectiveness for communicating conceptual models.  Further Develop conceptual and physical design.  Save time and money.
  • 70. We define the prototyping strategy as the set of decisions that dictate what actions will be taken to accomplish the development of the prototype(s). 1. First prototypes 2. Finished or presentation prototypes 3. Finished product 4. Working prototype plus model 5. Other support materials
  • 71.  Rapid prototyping Where the design closely matches the proposed finished product it is said to be a high fidelity prototype, as opposed to a low fidelity prototype, where there is a marked difference between the prototype and the final product.  Rapid prototyping is a group of techniques used to quickly fabricate a scale model of a physical part or assembly using three- dimensional Computer Aided Design (CAD) data  https://www.youtube.com/watch?v=-TDn25K-Jh4
  • 73.  Virtual prototyping is a method in the process of product development. It involves using computer-aided design (CAD), computer-automated design (CAutoD) and computer- aided engineering (CAE) software to validate a design before committing to making a physical prototype. This is done by creating (usually 3D) computer generated geometrical shapes (parts) and either combining them into an "assembly" and testing different mechanical motions, fit and function. The assembly or individual parts could be opened in CAE software to simulate the behavior of the product in the real world.
  • 74.  https://www.youtube.com/watch?v=-TDn25K-Jh4  https://www.youtube.com/watch?v=qVoeTDrF6_0  1.4 Impact of Rapid Prototyping on Product Development, digital or virtual prototyping – YouTube  What is virtual prototyping? - YouTube
  • 75.  Examples of Decomposition in Everyday Life  Decomposition is something we inherently do in our daily lives, even if we don’t realize it.  If you hosted a holiday dinner, you used decomposition to select the menu, enlist support from others in the kitchen, task people with what to bring, determine the process by which to cook the different elements, and set the time for the event.  If you went to the grocery store for said holiday dinner you used decomposition to build your grocery list, guide the direction you took as you meandered the aisles, the route you followed to and from the store, and the vehicle in which you drove.  If you’ve implemented a new program or initiative at your school, you used decomposition to build your strategic plan, which included the program’s vision, strategy for gaining buy-in, annual goals, and everything else involved.
  • 76. Brainstorming groups have consistently produced fewer ideas than have the equivalent number of individuals working by themselves. These results have been attributed to social loafing, evaluation apprehension, and production blocking in groups. In this study, a new brainstorming technique-- electronic brainstorming--that may reduce both production blocking and evaluation apprehension was assessed.
  • 77.  Electronic and nonelectronic groups and nominal and interacting groups were compared in a 2 x 2 factorial design.  Electronic groups were more productive than nonelectronic groups, but the productivity of nominal and interacting groups did not differ.  In contrast, interacting groups felt better about the idea- generation process than did nominal groups.  Ways in which electronic brainstorming can reopen a long dormant area of research and application are discussed.
  • 79. Separate the buyers from the users. Test early and test often Leverage data to create a fast feedback loop  https://www.slideshare.net/emanabedalwahhab/prototyping-34600987
  • 80. Identifying the goal & its key features Sketching primary screens & wireframing Turning wireframes into prototypes The final design
  • 86. Know what you're going to test Don't tell your testing group about your product Establish clear goals for users Prepare test questions
  • 87. Financial analysis is the study of a company, business, project, or other financial entity to determine its financial status, performance, and potential. Companies use financial analysis to decide on their policies and plans, and determine if a project is likely to do well financially. Before investing money into a company, investors and potential buyers study a company's investment potential.
  • 88. Applying Design Thinking to Finance  Innovation and efficiency do not have to be at odds  Finding a balance between exploration and exploitation  Building design into finance
  • 93.  Fundamental analysis: Fundamental analysis aims to determine the value of the business. It uses data such as the earnings per share (EPS) and other ratios. These ratios must be analyzed based on the company’s economic and financial situation. The financial analyst calculates the actual intrinsic value of the security and compares it with the current price to determine if it is undervalued or overvalued. This is an essential process for an investor to prevent investing in an overvalued company. An undervalued one has more opportunities for a good return on investment.
  • 94. Technical analysis: Technical analysis of a company ignores its financial statements and studies its performance in the markets. The market activity, such as moving averages, reveals how much the security prices fluctuate and the market sentiments driving the changes. It is an external analysis as opposed to an internal analysis. It uses market trends and publicly available information to assess the company's finances.
  • 95.  Look At Your Business’s Financial Statements  Check Customer Satisfaction  Average How Many New Customers You Get  Conduct Performance Reviews  Stay Current On The Market  Assess Your Own Expectations
  • 96. 1. Customer Involvement 2. Customer Satisfaction 3. Customer Feedback 4. Customer Experience 5. Traditional KPIs 6. Turnaround Times 7. Employee Satisfaction with Design Projects 8. Design Thinking Maturity 9. Design Thinking Process and Activities 10. Design Thinking Capabilities 11. Outcomes and Roadmap Items 12. Benchmark Design vs Traditional Thinking
  • 98.  A product is an item for sale. Most importantly, it is a physical item that is tangible. We can sell, buy, store, and transport products. When the sale is complete, we can move the product, return it, or even replace it for another product.  A service as a transaction that does not involve transfer of physical goods from the seller to the buyer. It is basically a work that a person/persons do for another individual.
  • 100.  Unaware: Before the customer even knows about the service  Aware: The customer learns about the service  Interested: The customer is interested in the service, and considering it  Buy/contract: The customer signs up, purchases, or contracts to receive the service  Receive: The customer gets the service for the first time (think “onboarding”)  Early use: The customer is setting up and using the service for the first time (think “first time use”)
  • 101.  Normal use: The customer is a regular, more experienced user of the service, and this is their normal experience of the service working well  Change: During normal use… the service changes (e.G. “New feature launched!” Or “major upgrade”) and it impacts the customer (what is the experience around this change?)  Incident: During normal use… the service goes through a failure (e.G. An outage, or a botched delivery) and it impacts the customer (what is the experience around this incident?)  Reconsider: The customer reconsiders their service “contract” and thinks about leaving  Leave: The customer leaves the service (what is their lasting impression?)
  • 102. Product economics are models for production, competitive advantage and consumer behavior that are applicable to product marketing. This includes product differentiation, relative advantage and pricing theory that is useful in developing and marketing products.
  • 103.  Market saturation  Product demand
  • 104. Stage 1: Generating the concept Stage 2: Concept screening Stage 3: Preliminary design Stage 4: Design evaluation and improvement Stage 5: Prototyping and final design Stage 6: Developing the operations process
  • 105. The experience cycle model describes the steps people go through in building a relationship with a product or service:  Connecting (first impression)  Becoming oriented (understanding what’s possible)  Interacting with the product (direct experience)  Extending perception or skill and use (mastery)  Telling others (teaching or spreading activation)
  • 106. A good product or service experience is:  Compelling (it captures the user’s imagination)  Orienting (it helps users navigate the product and the world)  Embedded (it becomes a part of users’ lives)  Generative (it unfolds, growing as users’ skills increase)  Reverberating (it delights so much that users tell other people about it)
  • 108.  Healthcare  Automobiles  Food industry  Education institution
  • 109. A project finance model is a specialized financial model, the purpose of which is to assess the economic feasibility of the project in question. The model's output can also be used in structuring, or "sculpting", the project finance deal.

Editor's Notes

  • #49: Reinvent: the company must reinvent its customer-value proposition and realign its operations to profitably deliver on the new superior offering. Adapter: Adapters explore adjacent businesses or markets, in some cases exiting their core business entirely Marvik: employ their core advantage to revolutionize their industry and set new standards The adventurer approach aggressively expands the footprint of a business by exploring or venturing into new or adjacent territories