1. Identifying requirements (1.2 What can be learnt by undertaking stakeholder analysis? )

Question 1

Understand stakeholder requirements

Answer 1

Through methods such as focus groups, qualitative observations, and market research, designers can gain a deeper understanding of stakeholder requirements. This can help designers create solutions that are better adapted to the needs and preferences of the stakeholders.

Question 2

Identify and prioritize stakeholders

Answer 2

Through methods such as user-centered design and stakeholder analysis, designers can identify and prioritise the stakeholders who will be impacted by the design solution. This can help ensure that the design solution meets the needs and expectations of the most important stakeholders.

Question 3

Identify strengths, weaknesses, opportunities, and threats (SWOT):

Answer 3

By conducting a SWOT analysis, designers can identify the strengths, weaknesses, opportunities, and threats associated with a particular design solution. This can help designers make informed decisions about how to optimise the solution and address any potential challenges.

Question 4

Identify gaps and opportunities

Answer 4

By conducting market research, designers can identify gaps for new products or opportunities to update existing products. This can help designers create innovative solutions that are well-suited to the market and have a competitive advantage.

Question 5

Entrepreneurship

Answer 5

Enterprises can foster entrepreneurship by supporting and encouraging employees to develop new ideas and innovations. By providing resources and incentives, enterprises can create an environment that nurtures and rewards creativity and innovation.

Question 6

Commercial partnerships

Answer 6

Enterprises can also drive innovation through commercial partnerships. By collaborating with other companies, enterprises can share knowledge, expertise, and resources, which can lead to the development of new and innovative products.

Question 7

Venture capitalists

Answer 7

Enterprises can also seek funding from venture capitalists, who are investors that provide capital to start-ups or early-stage companies in exchange for equity in the company. By securing funding from venture capitalists, enterprises can invest in research and development and bring new product ideas to market.

Question 8

Crowdfunding websites

Answer 8

Another route to innovation that enterprises can explore is crowdfunding websites. Crowdfunding involves raising capital from a large number of individuals, typically through an online platform. By using crowdfunding, enterprises can test the market demand for new product ideas and generate funds to develop and launch innovative products.