Why Design Thinking in Business Needs a Rethink

Why Design Thinking in Business Needs a Rethink Description

In recent years, "design thinking"has become popular in many industries as established companies have tried to apply designers'problem-solving techniques to corporate innovation processes. Key elements of the design thinking methodology include fast iterations; early and frequent interaction with customers; agile process design with less hierarchy; and a learning-by-doing approach that involves building prototypes and creating mock-ups of any kind as early as possible in the process. Over the past seven years, the authors have helped more than 20 companies pursue more than 50 design thinking initiatives and have found that such initiatives rarely proceed according to the textbook model. Innovation, they note, is an inherently messy process that conflicts in many ways with established companies'processes, structures, and corporate cultures. For example, they note, many established companies punish failure, which discourages the risk-taking design thinking requires. What's more, the design thinking methodology calls for egalitarian, self-organized teams, but this isn't how most large companies work. In fact, the design thinking teams the authors studied tended to have clear process and project owners, usually senior managers who often supervised 12 to 15 design thinking projects at a time. The authors argue that companies need to take five steps to take full advantage of the potential of design thinking. They recommend that companies (1) encourage top managers to champion design thinking initiatives, (2) balance intuitive and analytical thinking on design thinking teams, (3) set ground rules that give design thinking teams the autonomy they need to function well, (4) integrate design thinking into the company's product development processes, and (5) focus on learning rather than on profits as metrics for design thinking projects. "To be successful, a design thinking program must be closely linked with the organization's social dynamics,"the authors write. "Without the right supporting mechanisms, you probably won't achieve the desired results."

Case Description Why Design Thinking in Business Needs a Rethink

Strategic Managment Tools Used in Case Study Analysis of Why Design Thinking in Business Needs a Rethink

STEP 1. Problem Identification in Why Design Thinking in Business Needs a Rethink case study

STEP 2. External Environment Analysis - PESTEL / PEST / STEP Analysis of Why Design Thinking in Business Needs a Rethink case study

STEP 3. Industry Specific / Porter Five Forces Analysis of Why Design Thinking in Business Needs a Rethink case study

STEP 4. Evaluating Alternatives / SWOT Analysis of Why Design Thinking in Business Needs a Rethink case study

STEP 5. Porter Value Chain Analysis / VRIO / VRIN Analysis Why Design Thinking in Business Needs a Rethink case study

STEP 6. Recommendations Why Design Thinking in Business Needs a Rethink case study

STEP 7. Basis of Recommendations for Why Design Thinking in Business Needs a Rethink case study

Case Analysis of Why Design Thinking in Business Needs a Rethink

Why Design Thinking in Business Needs a Rethink is a Harvard Business (HBR) Case Study on Strategy & Execution , Texas Business School provides HBR case study assignment help for just $9. Texas Business School(TBS) case study solution is based on HBR Case Study Method framework, TBS expertise & global insights. Why Design Thinking in Business Needs a Rethink is designed and drafted in a manner to allow the HBR case study reader to analyze a real-world problem by putting reader into the position of the decision maker. Why Design Thinking in Business Needs a Rethink case study will help professionals, MBA, EMBA, and leaders to develop a broad and clear understanding of casecategory challenges. Why Design Thinking in Business Needs a Rethink will also provide insight into areas such as – wordlist , strategy, leadership, sales and marketing, and negotiations.

Case Study Solutions Background Work

Why Design Thinking in Business Needs a Rethink case study solution is focused on solving the strategic and operational challenges the protagonist of the case is facing. The challenges involve – evaluation of strategic options, key role of Strategy & Execution, leadership qualities of the protagonist, and dynamics of the external environment. The challenge in front of the protagonist, of Why Design Thinking in Business Needs a Rethink, is to not only build a competitive position of the organization but also to sustain it over a period of time.

Strategic Management Tools Used in Case Study Solution

The Why Design Thinking in Business Needs a Rethink case study solution requires the MBA, EMBA, executive, professional to have a deep understanding of various strategic management tools such as SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.

Texas Business School Approach to Strategy & Execution Solutions

In the Texas Business School, Why Design Thinking in Business Needs a Rethink case study solution – following strategic tools are used - SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.

We have additionally used the concept of supply chain management and leadership framework to build a comprehensive case study solution for the case – Why Design Thinking in Business Needs a Rethink

Step 1 – Problem Identification of Why Design Thinking in Business Needs a Rethink - Harvard Business School Case Study

The first step to solve HBR Why Design Thinking in Business Needs a Rethink case study solution is to identify the problem present in the case. The problem statement of the case is provided in the beginning of the case where the protagonist is contemplating various options in the face of numerous challenges that Thinking Design is facing right now. Even though the problem statement is essentially – “Strategy & Execution” challenge but it has impacted by others factors such as communication in the organization, uncertainty in the external environment, leadership in Thinking Design, style of leadership and organization structure, marketing and sales, organizational behavior, strategy, internal politics, stakeholders priorities and more.

Step 2 – External Environment Analysis

Texas Business School approach of case study analysis – Conclusion, Reasons, Evidences - provides a framework to analyze every HBR case study. It requires conducting robust external environmental analysis to decipher evidences for the reasons presented in the Why Design Thinking in Business Needs a Rethink.

The external environment analysis of Why Design Thinking in Business Needs a Rethink will ensure that we are keeping a tab on the macro-environment factors that are directly and indirectly impacting the business of the firm.

What is PESTEL Analysis? Briefly Explained

PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Why Design Thinking in Business Needs a Rethink case study. PESTEL analysis of " Why Design Thinking in Business Needs a Rethink" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.

How to do PESTEL / PEST / STEP Analysis? What are the components of PESTEL Analysis?

As mentioned above PESTEL Analysis has six elements – political, economic, social, technological, environmental, and legal. All the six elements are explained in context with Why Design Thinking in Business Needs a Rethink macro-environment and how it impacts the businesses of the firm.

How to do PESTEL Analysis for Why Design Thinking in Business Needs a Rethink

To do comprehensive PESTEL analysis of case study – Why Design Thinking in Business Needs a Rethink , we have researched numerous components under the six factors of PESTEL analysis.

Political Factors that Impact Why Design Thinking in Business Needs a Rethink

Political factors impact seven key decision making areas – economic environment, socio-cultural environment, rate of innovation & investment in research & development, environmental laws, legal requirements, and acceptance of new technologies.

Policy Making Impact on Why Design Thinking in Business Needs a Rethink

Government policies have significant impact on the business environment of any country. The firm in “ Why Design Thinking in Business Needs a Rethink ” needs to navigate these policy decisions to create either an edge for itself or reduce the negative impact of the policy as far as possible.

Data safety laws – The countries in which Thinking Design is operating, firms are required to store customer data within the premises of the country. Thinking Design needs to restructure its IT policies to accommodate these changes. In the EU countries, firms are required to make special provision for privacy issues and other laws.

Competition Regulations – Numerous countries have strong competition laws both regarding the monopoly conditions and day to day fair business practices. Why Design Thinking in Business Needs a Rethink has numerous instances where the competition regulations aspects can be scrutinized.

Import restrictions on products – Before entering the new market, Thinking Design in case study Why Design Thinking in Business Needs a Rethink" should look into the import restrictions that may be present in the prospective market.

Export restrictions on products – Apart from direct product export restrictions in field of technology and agriculture, a number of countries also have capital controls. Thinking Design in case study “ Why Design Thinking in Business Needs a Rethink ” should look into these export restrictions policies.

Foreign Direct Investment Policies – Government policies favors local companies over international policies, Thinking Design in case study “ Why Design Thinking in Business Needs a Rethink ” should understand in minute details regarding the Foreign Direct Investment policies of the prospective market.

Taxation & Regulation Impact on Why Design Thinking in Business Needs a Rethink

Corporate Taxes – The rate of taxes is often used by governments to lure foreign direct investments or increase domestic investment in a certain sector. Corporate taxation can be divided into two categories – taxes on profits and taxes on operations. Taxes on profits number is important for companies that already have a sustainable business model, while taxes on operations is far more significant for companies that are looking to set up new plants or operations.

Tariffs – Chekout how much tariffs the firm needs to pay in the “ Why Design Thinking in Business Needs a Rethink ” case study. The level of tariffs will determine the viability of the business model that the firm is contemplating. If the tariffs are high then it will be extremely difficult to compete with the local competitors. But if the tariffs are between 5-10% then Thinking Design can compete against other competitors.

Government Scheme & Subsidies Impact on Why Design Thinking in Business Needs a Rethink

Research and Development Subsidies and Policies – Governments often provide tax breaks and other incentives for companies to innovate in various sectors of priority. Managers at Why Design Thinking in Business Needs a Rethink case study have to assess whether their business can benefit from such government assistance and subsidies.

Consumer protection – Different countries have different consumer protection laws. Managers need to clarify not only the consumer protection laws in advance but also legal implications if the firm fails to meet any of them.

Political System & Stability, and its Impact on Why Design Thinking in Business Needs a Rethink

Political System and Its Implications – Different political systems have different approach to free market and entrepreneurship. Managers need to assess these factors even before entering the market.

Freedom of Press is critical for fair trade and transparency. Countries where freedom of press is not prevalent there are high chances of both political and commercial corruption.

Corruption level – Thinking Design needs to assess the level of corruptions both at the official level and at the market level, even before entering a new market. To tackle the menace of corruption – a firm should have a clear SOP that provides managers at each level what to do when they encounter instances of either systematic corruption or bureaucrats looking to take bribes from the firm.

Independence of judiciary – It is critical for fair business practices. If a country doesn’t have independent judiciary then there is no point entry into such a country for business.

Government attitude towards trade unions – Different political systems and government have different attitude towards trade unions and collective bargaining. The firm needs to assess – its comfort dealing with the unions and regulations regarding unions in a given market or industry. If both are on the same page then it makes sense to enter, otherwise it doesn’t.

Economic Factors that Impact Why Design Thinking in Business Needs a Rethink

Social Factors that Impact Why Design Thinking in Business Needs a Rethink

Technological Factors that Impact Why Design Thinking in Business Needs a Rethink

Environmental Factors that Impact Why Design Thinking in Business Needs a Rethink

Legal Factors that Impact Why Design Thinking in Business Needs a Rethink

Step 3 – Industry Specific Analysis

What is Porter Five Forces Analysis

PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Why Design Thinking in Business Needs a Rethink case study. PESTEL analysis of " Why Design Thinking in Business Needs a Rethink" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.

Step 4 – SWOT Analysis / Internal Environment Analysis

Step 5 – Porter Value Chain / VRIO / VRIN Analysis

Step 6 – Evaluating Alternatives & Recommendations

Step 7 – Basis for Recommendations

References :: Why Design Thinking in Business Needs a Rethink case study solution