Design Thinking
Define the term innovation as a creative thinking process.
Innovation refers to doing things differently, challenging assumptions and breaking rules (real or imagined).
With examples, define the terms product and service.
Products are goods you can purchase (e.g. Laptop)
Services are things done for you by other people (e.g. Barber)
What is a social enterprise?
A social enterprise is an organization whose main goal is promoting social or environmental welfare.
Define the term customer needs.
A "need" is relative to the customer. For some people needs are food, clothing and a place to live. For others, needs may include a smart phone, a designer handbag, and high-speed internet
Define the term financial sustainability.
"Financial sustainability" means that if a business does not make enough money from its operations, it will not survive.
Define the term diversity as a creative thinking process.
Diversity refers to how many unique ideas you can up with, how many different categories your ideas fit into.
Outline two differences between products and services.
Products: Production and consumption occur separately, Product can be stored, Low customer contact, Longer production time, Uses more capital (equipment).
Services: Production and consumption occur at the same time, Product cannot be stored, High customer contact, Short production time, Uses more labour (people)
List 1 way a social enterprise’s goals are different from a standard business.
Social enterprise focuses on promoting social or environment welfare rather than making or maximising profit.
How can customer feedback help a business improve?
Business can use customer feedback to make sure their product is correctly meeting consumer needs.
Define 'cost price'
Cost price: how much the item costs the seller
List each step of the design thinking process.
The steps are: Empathise, Define, Ideate, Prototype, Test.
Give an example of an online service.
A digital/online service is one where the service can be delivered via a website or app, such as ticketing platform TicketPass
Name two social issues social enterprises might help solve.
Teacher to decide best response.
Using an example, suggest one way a business could make a product more ethical or sustainable.
Teacher to decide best response.
List 3 ways business can show the skill 'financial sustainability'
E.g. tracking income and expenses, self control, calculating profit and loss, knowing limitations etc.
Define the term fluency as a creative thinking process.
Fluency refers to how many ideas you can come up with.
Give an example of a digital product.
Digital products are products that exist in digital form, for example, as a file (PDF, audio files, video files etc.) that can be accessed and/or downloaded from the web
Name two qualities employees working in social enterprises may need.
Teacher to decide best response.
List three ‘needs’ businesses try to meet when changing or inventing products.
Accept any 3 of the following:
Accessibility, Functionality, Pricing, Convenience, Experience, Design, Empathy, Reliability, Ethical, Options, Information, Compatibility.
What is the formula you can use to calculate profit percentage?
Profit (or Loss)/Cost Price x 100
In detail, describe the 'Ideating' stage of the design thinking process.
Trying out the prototype with your target group and getting feedback, avoid defending your product and instead I'm using this as an opportunity to collect customer feedback, I might need to go back to the ideating or prototyping based on customer feedback.
Digital products can cost less to produce. For example, if a business-owner chooses to produce and sell an ebook instead of a physical book they don’t need to pay printing costs.
How does the business HoMie operate as a social enterprise? (Give 2 reasons to support your response)
Teacher to decide best response
Using an example, explain how businesses can meet the customer need 'empathy'.
Customers need to need to feel that the product/service has been designed with them in mind and the business cares about them. E.g. A make-up artist service or make-up brand that caters to clients with diverse skin tones and types.
Calculate the profit percentage: Elissa bought a new dress for $106 and sold it to her friend for $210.
98.11%