Design is a relatively new profession and is yet to become an integral and strategic part of business in our country. Young designers need to understand how they need to make design visible in the business. The course aims at developing a comprehensive understanding of how design processes and design thinking can create new business opportunities.
23. TEST – Chance to refine your solutions
WHAT IS DESIGN?
DESIGN
THINKING
MODES
24. design thinking helps sell
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.
27. `
An organization or economic 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
31. WHAT IS BUSINESS?
FUNCTIONS
RESEARCH & DEVELOPMENT
• New product development
• Product improvement
• Value added
• Competitive Advantage
• Product testing
• Cost saving
• Efficiency Gain
33. WHAT IS BUSINESS?
FUNCTIONS
LEGAL ASPECTS
• 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
36. WHAT IS BUSINESS?
FUNCTIONS
HUMAN RESOURCE
• Management Structure & Organizational
Design
• Workforce Planning
• Recruitment
• Employee Training
• Communication
37. WHAT IS BUSINESS?
FUNCTIONS
CUSTOMER SERVICE
• 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.
40. WHAT IS BUSINESS?
BUSINESS
ECONOMICS
Business Economics, 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.
43. WHAT IS BUSINESS?
ENTREPRENEURSHIP
One who 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?
FUNCTIONS OF
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?
SOME OF 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?
51. WHAT IS BUSINESS DESIGN?
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 Gears of 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 Gears of 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 model describes the rationale of how an
organization creates, delivers, and captures
value”
BUSINESS
MODEL
WHAT IS BUSINESS MODEL?
67. BUSINESS
FAILURES
BUSINESS FAILURES
Competitor of Flipkart 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
69. BUSINESS
SUCCESSES
BUSINESS SUCCESSES
Uber has taken 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 Concept of 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 Funding Rounds 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.
75. BUSINESS SUCCESSES
Step by Step 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 Demand Supply 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.