Design Thinking
A human-centered, iterative process for creative problem-solving that focuses on deeply understanding user needs, challenging assumptions, and redefining problems to create innovative solutions.
Design Thinking
Which evaluation considers whether the business can make money?
Economics/Profitability
An idea that can realistically create value.
What is a business Opportunity
The need of potential customers in the market that an entrepreneur might be able to address with their product or service concept.
Problem Statement
The Happiest Place on Earth.
Disneyland
Why is design thinking considered non-linear?
Because designers can jump between stages as new insights emerge
analysis of the business's perceived customers or market, expected lifetime use, and growth potential.
Market/Industry Evaluation
Potential of the mind to conceive new ideas. Hard to measure but easy to see.
Creativity
What BMC section identifies who your customers are?
Customer Segments
Capital One
During which stage do teams generate many possible solutions without judging them?
Ideate
This analysis includes benefits offered, streamlined processes and intellectual property
Competitive advantages
What does value creation mean for an entrepreneur?
Developing a solution that improves customers’ lives enough that they are willing to pay for it.
Which BMC element explains why customers would choose your product?
Value Proposition
Betcha Can’t Eat Just One.
Lays
What is the purpose of the prototype stage?
To create simplified versions of the product/service to test concepts
Analysis of the business's goals and fit with the staff, opportunity costs of financial stakeholders, and risk reward tolerance of stakeholders. This analysis is described as:
Self & Investor Analysis
Turns a creative idea into something useful and marketable?
Innovation
From whose perspective is value derived from for your value proposition?
The Quicker Picker Upper
Bounty
The five steps of Design Thinking
1. Empathize 2. Define 3. Ideate 4. Prototype 5. Test
analysis of the capital needed to start, projected profit and breakeven points, and the return on investment potential
Economics & Profitability Analysis
Ways to enhance creativity & innovation in the workplace?
Ex: Encourage risk, tolerate failure. View problems as challenges. Train & model for creativity. Welcome & accept change. Build teams w/ diverse backgrounds.
Which BMC element should explain benefits offered, include differentiation from competitors, and link benefits to value
Let's go places
Toyota