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Design & Business
The document explores the concepts of business and design, emphasizing the significance of design thinking as a collaborative, human-centered approach to problem-solving that integrates customer empathy and business strategy. It details the various functions and forms of business organizations alongside the roles of entrepreneurs in driving innovation and managing risk. Additionally, it highlights the importance of business design in creating new value and competitive advantages through understanding customer needs and strategic planning.
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Design & Business
- 1. DESIGN & BUSINESS Compiledby : Vandana NautiyalUnrestricted
- 2. WHAT IS BUSINESS? WHAT IS DESIGN? WHAT IS BUSINESS DESIGN?
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- 7. WHAT IS DESIGN? DESIGN THINKING designthinking is a human centred & collaborative approach to problem solving that is creative, iterative & practical.
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- 12. EMPATHIZE – Observeand Look through Customers Eye. WHAT IS DESIGN? DESIGN THINKING MODES
- 13. EMPATHIZE – Interactwith users through interview. WHAT IS DESIGN? DESIGN THINKING MODES
- 14. EMPATHIZE – Interactwith users through interview. WHAT IS DESIGN? DESIGN THINKING MODES GO OUT TO TALK TO YOUR CUSTOMERS
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- 18. DEFINE- HOW? WHAT ISDESIGN? DESIGN THINKING MODES
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- 20. IDEATE- HOW? WHAT ISDESIGN? DESIGN THINKING MODES
- 21. PROTOTYPE – Gettingideas out of our head in a physical world WHAT IS DESIGN? DESIGN THINKING MODES
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- 23. TEST – Chanceto refine your solutions WHAT IS DESIGN? DESIGN THINKING MODES
- 24. design thinking helpssell IDEAS WHAT IS DESIGN? BUT WHY DESIGN THINKING Companies began to use design to create better products for costumers needs and wants. With this shift, the way a designer thought made a huge difference.
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- 27. ` An organization oreconomic system where GOODS and SERVICES are exchanged for one another or for money. Every business requires some form of INVESTMENT and enough CUSTOMERS to whom its output can be sold on a consistent basis in order to make a PROFIT. Businesses can be privately owned, not-for-profit or state/government owned. WHAT IS BUSINESS? DEFINITION
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- 29. WHAT IS BUSINESS? FORMS Soleproprietorship Partnership Private Ltd. Company Public Ltd. Company
- 30. WHAT IS BUSINESS? FUNCTIONS BUSINESS FUNCTIONS FINANCE& ACCOUNTIN G LEGAL ASPECTS PRODUCTIO N & OPERATIONS SALES & MARKETING HUMAN RESOURCE CUSTOMER SERVICE IT RESEARCH & DEVELOPME NT
- 31. WHAT IS BUSINESS? FUNCTIONS RESEARCH& DEVELOPMENT • New product development • Product improvement • Value added • Competitive Advantage • Product testing • Cost saving • Efficiency Gain
- 32. WHAT IS BUSINESS? FUNCTIONS FINANCE& ACCOUNTING • CASH FLOW monitoring income/revenue monitoring expenditure • PREPARING ACCOUNTS • RAISING FINANCE Shares Loans
- 33. WHAT IS BUSINESS? FUNCTIONS LEGALASPECTS • Business Laws regulate the conduct of the business. • Legal Structure/form of Business. • Legal management handles important items like contracts, licenses, warranty documents, etc. • Business constantly enter into formal and informal agreements and transactions in a wide range of business situations, with legal implications, such as fines and penalties, for both their organization and themselves.
- 34. WHAT IS BUSINESS? FUNCTIONS PRODUCTION& OPERATIONS • Acquiring resources • Planning output – labor, capital, land • Monitoring costs • Projections on future output • Production methods • Efficiency
- 35. WHAT IS BUSINESS? FUNCTIONS SALES& MARKETING • Market Analysis and Research • Marketing Mix • Marketing Strategy
- 36. WHAT IS BUSINESS? FUNCTIONS HUMANRESOURCE • Management Structure & Organizational Design • Workforce Planning • Recruitment • Employee Training • Communication
- 37. WHAT IS BUSINESS? FUNCTIONS CUSTOMERSERVICE • After- sales service • Handling consumer enquiries • Offering advice to consumers • Dealing with customer complaints
- 38. WHAT IS BUSINESS? FUNCTIONS IT •Information technology is an essential partner in management of your business, regardless of the kind of enterprise you operate. • Greater accuracy and efficiency with the assistance of information technology and computer applications.
- 39. WHAT IS BUSINESS? WHAT BUSINESS DO? TakeInputs Process/Manufacture Output Costs – Fixed and Variable Revenue Profit
- 40. WHAT IS BUSINESS? BUSINESS ECONOMICS BusinessEconomics, also called Managerial Economics, is the application of economic theory and methodology to business. Business involves decision-making from various alternative. Decision-making thus becomes making choice and taking right decisions that will provide the most efficient means of attaining maximum profit.
- 41. WHAT IS BUSINESS? BUSINESS ECONOMICS ASPECTS •DemandAnalysis and Forecasting •Cost and Production Analysis •Pricing Decisions, Policies and Practices •Profit Management •Capital Management.
- 42. WHAT IS BUSINESS? ENTREPRENEURSHIP ENTREPRENEURSHIP •The BOSS !!!! • The Business Owner • The Risk Taker • One Who Starts A New Business • The Resourceful Guy
- 43. WHAT IS BUSINESS? ENTREPRENEURSHIP Onewho creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying and assembling the necessary resources to capitalize on them. RISK BEARER ORGANISER INNOVATOR ENTREPRENEURSHIP
- 44. WHAT IS BUSINESS? FUNCTIONSOF ENTREPRENEUR • Innovation • Risk Taking • Organization Building • Absorb uncertainty • Frame the Challenge • Build Commitment ……..
- 45. WHAT IS BUSINESS? ENTREPRENEUR PHASES •FIRST: Creation Process – creating something new of value. • SECOND: Requires the commitment of the necessary time and effort. Appreciate and understand the importance of time and effort devoted to create something new and make it workable. • THIRD: Involves the enjoyment of the rewards (Freedom, monetary) after the effort, followed by personal satisfaction.
- 46. WHAT IS BUSINESS? ENTREPRENEUR PROCESS •Identification and evaluation of the opportunity. • Development of the Business Plan. • Determination of the required resources. • Management of the resulting enterprise.
- 47. WHAT IS BUSINESS? SOMEOF THE ENTREPRENEURAL CHARACTERISTICS 1. Calculated Risk-taker 2. Innovator 3. Organiser 4. Creative 5. Achievement Motivated 6. Technically Competent 7. Self-confident 8. Socially Responsible 9. Optimistic 10. Equipped with Capability to drive 11. Blessed with Mental Ability 12. Human Relations Ability 13. Communication Ability 14. Decision-Making 15. Business Planning 16. A venture Capitalist 17. Visionary 18. Entrepreneur make significant differences 19. Ability to Spot and Exploit Opportunities 20. Courage to Face Adversities 21. Leadership---An essential trait of the entrepreneur………
- 48. WHAT IS BUSINESS? SOME QUESTIONS? • What, exactly, is my business idea? • Is it feasible? • What industry do I want to enter? • What will be my competitive advantage? • Do I want to start a new business, buy an existing one, or buy a franchise? • What form of business organization do I want?
- 49. WHAT IS BUSINESSDESIGN?
- 50. WHAT IS BUSINESSDESIGN? DESIGN IN BUSINESS
- 51. WHAT IS BUSINESSDESIGN? BUSINESS DESIGN Business Design is a human-centred approach to innovation. It applies the principles and practices of design to help organizations create new value and new forms of competitive advantage. At its core, Business Design is the integration of customer empathy, experience design and business strategy.
- 52. The 3 Gearsof Business Design provides the framework and tools for: WHAT IS BUSINESS DESIGN? BUSINESS DESIGN Understanding Customers – innovation begins with an unmet customer need. Customers often lack tools to articulate their own needs, and standard market research methodologies only scratch the surface. Generating and Testing Ideas – turning unmet needs into innovation. This is about creating new ideas, getting customer feedback and doing rapid testing to get to a better solution. Connecting to Strategy – New ideas will fail to flourish if they aren’t backed by a sound strategy, including a clear set of choices of how the organization is going to win.
- 53. The 3 Gearsof Business Design provides the framework and tools for: WHAT IS BUSINESS DESIGN? BUSINESS DESIGN Understanding Customers – innovation begins with an unmet customer need. Customers often lack tools to articulate their own needs, and standard market research methodologies only scratch the surface. Generating and Testing Ideas – turning unmet needs into innovation. This is about creating new ideas, getting customer feedback and doing rapid testing to get to a better solution. Connecting to Strategy – New ideas will fail to flourish if they aren’t backed by a sound strategy, including a clear set of choices of how the organization is going to win.
- 54. “A business modeldescribes the rationale of how an organization creates, delivers, and captures value” BUSINESS MODEL WHAT IS BUSINESS MODEL?
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- 65. Tool to createand analyze business model. BUSINESS MODEL CANVAS WHAT IS BUSINESS MODEL CANVAS ?
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- 67. BUSINESS FAILURES BUSINESS FAILURES Competitor ofFlipkart and Amazon Aditya Birla Group’s flagship e Commerce Site • Lagging behind in competitive marketing • Price war with competitors • Lack of available options for buyers • Not having catchy name • Overdose of fashion
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- 69. BUSINESS SUCCESSES BUSINESS SUCCESSES Uber hastaken the on demand economy vertical by storm. Formerly called UberCab, the startup was founded in 2009 in San Francisco by Travis Kalanick and Gerrett Camp. Uber is an on demand taxi booking app startup. It partners with cab drivers and provides a single tap cab booking option to riders for a convenient drive in and around the city. While Uber started with just one city in the United States, it currently operates in 633 cities worldwide. Uber today is worth over $60 billion in private valuation.
- 70. BUSINESS SUCCESSES BUSINESS SUCCESSES The Conceptof Uber – How Uber Works? Uber, through its separate partner and rider apps for different platforms, acts as an aggregation platform (a.k.a. aggregator) that facilitates ride requests within and around respective cities that it operates in. It works in, what is known as, an inventory lite model wherein it does not own any of the taxis and cabs that it has in its network. All the cabs are owned by drivers – drivers sign up with Uber and become part of the Uber network. Riders have a separate app using which they can request for a ride. The nearest driver who is currently active at the time of the request in the nearby vicinity will get the first incoming request notification. In case the driver fails or rejects the request, the notification goes to the other driver available nearby in quick succession until the ride request is entertained.
- 71. BUSINESS SUCCESSES BUSINESS SUCCESSES Uber FundingRounds and Uber Investors The founders invested $200,000 in seed money in 2009 upon inception. In 2010, Uber raised $1.25 million from investors and by the end of 2011, Uber had raised $44.5 million in total funding. Till date, Uber has raised a total of more than US$23 billion in private venture funding.
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- 73. BUSINESS SUCCESSES BUSINESS SUCCESSES Why isUber so Popular and Successful?
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- 75. BUSINESS SUCCESSES Step byStep Model about How Uber Works Step 1 (Request) – This is where you will be creating the demand. The touch point starts with a user requesting for a ride. The user goes to the app and requests for a ride on demand or can schedule it later for booking. Step 2 (Match-making) – Upon the rider request for booking, a notification is sent to the nearest cab driver who has then option to either accept or reject the ride request within a stipulated amount of time. If rejected or time lapses, the request notification goes to another driver in the queue available in the same area and vicinity. Step 3 (Ride & Tracking) – User is able to see and track in real time the driver coming to pick him/her up. Once the ride starts, on trip navigation and tracking helps the user figure out whether he/she is going in the right direction or not. Step 4 (Payment & Review) – Uber goes with comfortable and convenient payment options for different cities based upon the user needs and awareness in that region. For example, for Indian and many SEA (South East Asian) countries, Uber provides cash payment options as well along with wallet and card payments. Review also plays a very important role in this whole experience. Uber is rather using reviews and rating more seriously and keeps it to vet out drivers with low aggregate rating in order to build a strong and happy customer experience.
- 76. BUSINESS SUCCESSES The DemandSupply Challenge This is a chicken and the egg challenge for any new marketplace startup. You need to focus on the demand side to fill up first, but the demand would fill up if you have the supply, and you simply cannot afford to keep supply filled in, sitting idle, while your marketing starts showing results and brings in customers to manage the demand side. Uber’s approach in this gives a very good lesson to startups and entrepreneurs who are planning to start a similar business like Uber, in the on demand segment. Uber focuses on building the supply chain first and keeping it ready for the demand side to service. Uber’s target initially is to secure drivers as contractors whenever it enters into a new city. They understand that only if they have the supply available in this on demand business, they will be able to service the incoming ride requests. Uber wants to give a good experience to its users to make a ride always available in the nearby vicinity. Naturally this requires a lot of investment on per city basis as you will have to sign up the drivers, pay them some minimum incentives to keep them motivated to work for you initially even when there are not enough ride requests coming in. This is important especially when this model is inventory lite and works simply on commission, so the drivers don’t get paid if they don’t have any rides.
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