Purpose and Ideation

Question 1

What was the purpose of businesses in the past?

Answer 1

Overwhelming priority was to maximize profits for owners and shareholders

Question 2

What was the prevailing management theme in the past?

Answer 2

reductionism approach - companies break down work into separate areas like the parts of a machine and split work into hyperspecialized divisions

Question 3

What was the major decision making approach in the past?

Answer 3

Siloed decision making - encourages localized, disconnected decision making - everyone making own decision based on own context and personal requirements - no incentive to make changes to solve another’s problems

Question 4

Why was there short-term timelines in the past?

Answer 4

Always trying to meet quarterly objectives for profit and goals

Question 5

What is the problem with reductionism, siloed decision making and quarterly capitalism?

Answer 5

All the different sectors try to outperform each other instead of help each other so they can win favour with management and get more budget next term - build competition instead of community, less cohesiveness in company

Question 6

What is the general goal of all modern businesses?

Answer 6

Increase profits while also prioritizing quality and satisfying the needs of stakeholders

Question 7

What are more companies doing in terms of decision making?

Answer 7

Prioritizing ethical models and approaches

Question 8

What is the key impact of purpose on employees?

Answer 8

Main goal of businesses is attracting and retaining talent, need purposeful business to do so. Can unleash employee potential and build trust/loyalty.

Question 9

What does gen z want from employers?

Answer 9

Want to work for leaders who share their vision, inspire them and make them feel part of a larger mission

Question 10

What is the key impact of purpose on the customers/products?

Answer 10

Purpose adds to value and engagement, ensuring long-term revenue and generating more profit since customers are more loyal. Fundamental to preserving and expanding customer base.

Question 11

How does purpose impact innovation and uniqueness?

Answer 11

Increase awareness of shifting external expectations and trends, redefine the playing field to stay relevant, inspire employees to creatively solve problems

Question 12

What does FIT stand for?

Answer 12

fair, inclusive, and transparent

Question 13

What does financial performance/shareholders do for a company?

Answer 13

Provide opportunity, help overcome challenges of slowing growth and declining profits, attract investors seeking sustainable ROI and transparency, reduces risk and uncertainty

Question 14

What are some other key success factors that aren’t included in the normal 6?

Answer 14

Suppliers, environment, communities

Question 15

What are new prevailing management themes?

Answer 15

Think of as a non-linear, adaptive, complex system rather than a machine

Question 16

What are new decision making trends?

Answer 16

Integrative and transparent decision making for the whole system instead of small fragments, opposite of siloed

Question 17

What are the 5 characteristics of modern leadership?

Answer 17

Courage, heart, empathy, humility, humanity

Question 18

What is a governance game?

Answer 18

Attempts to simulate the government and politics of all or part of a nation

Question 19

What are risks of purpose?

Answer 19

difficult to serve various interests of all stakeholders, can miss some needs when trying to meet others. purpose fraud if you can’t meet your purpose, making stakeholders lose trust.

Question 20

What is the implication to shareholders in CEO’s no longer focusing on them?

Answer 20

Limit shareholder rights, playing offense with shareholders

Question 21

What is integrative thinking?

Answer 21

The ability to face opposing ideas constructively, generating a creative resolution as a new idea which combines elements of opposing ideas

Question 22

What is the first step to generating ideas?

Answer 22

Start with your means - who am I, what do I know, who do I know?

Question 23

What are the questions to ask when ideating?

Answer 23

What challenges do you have when doing certain things? How can you improve those challenges?

Question 24

What is value proposition design?

Answer 24

Design benefits you use to attract customers that fit with the set of customer segment characteristics you verify in the market

Question 25

Gains are:

Answer 25

Outcomes customers want to achieve or the concrete benefits they are seeing

Question 26

Pains are:

Answer 26

Potential bad outcomes, risks, and obstacles related to customer jobs

Question 27

Customer jobs are:

Answer 27

What customers are trying to get done in work and in their lives, expressed in their own words

Question 28

Give an example of a social customer job

Answer 28

Shoveling your neighbors snow to look good and responsible

Question 29

Give an example of an emotional job

Answer 29

Seeking an emotional state such as peace of mind by doing tasks

Question 30

Give an example of a functional customer job

Answer 30

Mowing the lawn, eating healthy, writing a report

Question 31

A valuable idea is:

Answer 31

a solution to a problem

Question 32

Design thinking is:

Answer 32

Human centered approach to innovation - a set of cognitive, strategic and practical process where design concepts are developed

Question 33

What is desirability in design thinking:

Answer 33

What we need and what fits customers desires

Question 34

What is feasibility in design thinking

Answer 34

What is technologically, organizationally, operationally feasible

Question 35

What is viability in design thinking?

Answer 35

Offering a product to your customer in a way where it covers your costs. What is economically viable… reasonable opportunity to provide… will it make economic sense

Question 36

What is a migraine headache problem?

Answer 36

A problem that should require main focus/more attention, a problem that needs you to go out of your way to solve