MI - Week 4 Flashcards
Based on the Amazon-Wholefoods article, what capabilities should retailers learn to compete with Amazon on?
- Agile Innovation: Retailers must adopt agile innovation processes. This means forming small, self-governing teams that can experiment, adapt, and respond quickly to market changes. The focus should be on developing new products, services, and processes that merge physical and digital experiences, much like Amazon’s approach of continuous innovation.
- Expense Management: Retailers need to manage expenses strategically, reallocating resources from outdated business practices to fund digital transformations. This involves trimming bureaucratic layers, reducing manual processes, and investing in technologies like machine learning that can enhance efficiency.
We discussed several key rules of IDEO’s innovation system, what are they?
- Fail often to succeed sooner
- Multidisciplinary teams
- User-centric design
What other factors describe IDEO’s innovation process?
- Rapid iteration
- Collaborative organization
- Flat hierchary
What are 6 manager myths?
- Don’t ask a question you don’t know the answer to (Reality: start with the unknown)
- Think big (Reality: Focus on meeting genuine human needs)
- If the idea is good, money will follow (Reality: Provide seed funding to the right people and problems, and then money will follow)
- Measure twice, cut once (Reality: Place small bets fast)
- Be bold and decisive (Reality: Explore multiple options)
- Sell your solution, if you don’t believe it no one will (Reality: Choose a worthwhile problem, let others validate)
What are the four core phases associated with the design process?
- What is?
- What if?
- What wows?
- What works?
What are the 10 design tools and which stage do they go with?
- Visualization (All 4 questions)
- Journey mapping (What is)
- Value chain analysis (What is)
- Mind mapping (What is)
- Brainstorming (What if)
- Concept development (What if)
- Assumption testing (What wows)
- Rapid prototyping (What wows)
- Customer co-creation (What works)
- Learning launch (What works)
Business vs Design: Underlying assumptions
Business: rationality, objectivity, reality is fixed and quantifiable
Design: subjectivity, reality is socially constructed
Business vs Design: Method
Business: Analysis aimed at proving “best” answer
Design: Experimentation aimed at iterating toward a “better” answer
Business vs Design: Process
Business: Planning
Design: Doing
Business vs Design: Decision drivers
Business: logic and numeric models
Design: Emotional insight and experiential models
Business vs Design: Decision drivers
Business: pursuit of control and stability, discomfort with uncertainty
Design: Pursuit of novelty, dislike of status quo
Business vs Design: Levels of focus
Business: Abstract or particular
Design: iterative movement between abstract and particular
Design brief
Tells the project team where it’s going and why, what pitfalls to avoid, and what resources are required. It sets a schedule, names important milestones, and lays out the metrics that will assess the project.
DB: project description
What is the problem or opportunity? Elevator pitch.
DB: intent scope
What is within and outside of the project scope? What efforts sit adjacent to the project?
