Good insights from Forbes on Design Thinking.
Despite effectively inventing the digital camera, and investing millions in the development of digital technologies during the 1990s, the company decided against selling digital cameras, choosing to instead continue developing film cameras, fearing the move to digital would heavily damage their existing business. Those within the company decided that, because digital picture quality was relatively poor compared to film, there would be no significant demand for the product. The repercussions of this decision proved to be the company’s undoing.
By not taking the trouble to ask potential customers for their opinions, Kodak was left on the back foot when the likes of Canon and Nikon , who had not been seen as fierce competition before, swiftly moved into the digital camera market and quickly won customer approval. When Kodak finally did manage to put a digital camera on the market they again read consumer demand incorrectly: though their camera produced a far superior image, the price was far out of the reach of most families’ budgets. What killed Kodak was not incorporating ‘design thinking’ into their innovation and business development
Being able to put yourself in the shoes of the customer always has been and still is vital for businesses to succeed. This is the essence of design thinking. However, many products and services fail as a result of managers not consulting with or listening to the needs of their target audiences.
Good insights on using Design Thinking to be more innovative.
"To test their idea, the team suggested changes to the script used in the call center. They then ran some quick tests right then, on the fly, with call center staff, customers, and prospects.
In a very short period of time they learned that many more people were interested in buying just one seat, or three seats. As a result, after further testing, they changed their policy to sell individual and smaller numbers of seats. What was the result of this small customer-centric, quick prototype test? A $10 million increase in sales in the first year."
Great read from Rosabeth Moss Kanter about execution and strategy.
“For all the faddish talk about audacious goals and moonshots, the bigger an unproven promise, the harder the fall when execution doesn’t match the hype. It is important to avoid the temptation to declare victory at an announcement of a strategy — the photo op of merger partners’ handshakes, the external award for product design, or the big donation for work not undertaken — only to find that the merger dissolves, customers ignore the product, and the new work never gains traction.
In short, encourage innovation, begin with execution, and name the strategy later.”
Source: Harvard Business Review
Great stuff from Forbes on Design Thinking and Resilience :
"One of the most important aspects of resilience involves developing a flexible way of thinking about challenge and adversity and being able to solve problems in an accurate way.
Design thinking is a type of innovation methodology – a problem solving process to help you generate options, test strategies, and get feedback so that you can develop something (often applied to facilitate the creation of new products or processes). As I discovered, design thinking is also a great tool to help you get unstuck and problem solve life’s biggest challenges."
Important points about low-fidelity tests leveraged in Design Thinking via Forbes.
“Low fidelity tests are the darling of design thinking, and you have to constantly try out and toss new ideas that don’t work for customers. It takes discipline to say, “Okay, engineers. We’re not going to start building this yet because we’ve got to draw pictures first and show it to more people.” Getting this right is more important than just pushing out a product. Invest time early on in the iterative process so that once you are ready to develop a product, it is full speed ahead.”
DVI used to quantify Design Thinking efforts via Fortune:
“Finally, design thinking and co-creation isn’t a fad, but rather a new way for all problem solvers to put the user at the center of a problem to develop solutions from the outside in rather than the inside out.
As a result, we see design not as a pure factor that makes our DVI companies’ stocks perform better on the stock market, but rather as a highly integrated and influential force that enables the organization to achieve outsized results.”