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DSGN6030 Design Economies

Assessment : Framework for business concept

Learning Outcomes

1. Assess and research primary and secondary sources to obtain the data required to support a prospective business plan

2. Recognise the process by which an idea emerges from the research as a value proposition

3. Appraise characteristics of new economic models in contexts

Context:

This assessment is designed to help you generate a conceptual base from primary and secondary HCD (human-centred design) research findings by developing a proposal resulting in a new business venture and identifying (and addressing) a ‘need’ (and ‘a market’), underpinned by new economic contexts.

Subsequent assessments in this same subject are all linked in that they follow the required protocols for drafting the necessary documents to help you formulate the scope and plan of
your new venture.

Instructions:

From the five new economic frameworks presented, begin to imagine the design and delivery of a product or service. Combining two (HCD) human-centred (2) primary, and (6) secondary research methods, begin to form a picture (frame) of your ‘problem’: Is there an unmet need? Who is your customer/s? Why is your concept necessary? Does it meet the demands of the QBL (quadruple bottom line)? What is the value of your offer? Would it meet B. corp status?

Discuss the relevancy of your concept against one or two of the economic frameworks discussed in this subject. You may combine characteristics of a few – but make certain to substantiate your choice/s. How would your concept work, what kind of business model do you envision?

By asking the why (your why and that of your customers - and market), the how (logistics, structure), and the what (defining what it is and why it is needed, will help you clarify your conceptual base – what pain is your product/service addressing (what is the demand for the idea) in the new economic context. Remember that without a viable market (a need for your product/service), you will not remain sustainable.

Primary research: You will undertake two activities (2), to support your direction.

1) A face-to-face *recorded interview with a social entrepreneur or head of a B. corp in any field. Questions should address: choice of economic framework, business model, aspects relevant to the enterprise’s product or service, mission & vision, customer base, segmentation, cultural context, value proposition, competitors, partners, how they resource, and most importantly, their “Why – their purpose.”

2) A second interview, survey or focus group. Allow your second research method to offer you new insights, in addition to supporting/corroborating your other findings.

In the event you cannot secure a face to face interview, try to engage with a prospective participant on Skype. The worst case scenario is that you prepare a short list of questions and correspond via email. This is the poorest of options since you won’t have ‘human’ contact, as necessary for (HCD) Human-centred research methods – the benefit of personal contact is gaining insight into your participant’s ‘voice/presence/personality.’

*Note: as part of appropriate research practice, ethics demands that you disclose to your participant that he/or she is being audio/video recorded – and that your findings will only be used for educational purposes. If you choose to use the material for other means, you must inform your participant. Recording helps transcribe your material with their consent. Plan you research accordingly.

Your proposal should include:

1) Brief but concise concept (mission statement), (what are you doing and why).

2) Clearly articulate, the economic framework or combination of frameworks that best fits your business idea, justifying your choice.

3) Provide evidence of your HCD (2) primary and (6) secondary methods, demonstrated through the premise of your conceptual base (i.e. how does the research support or guide your concept).

4) Frame your problem – place it clearly and distinctly before us - this should surface from your research findings.

5) Generate your ideas explaining your ‘why,’ followed by a broader view of ‘what you are doing’, and ‘how.’ Identify how it meets the QBL (quadruple bottom line), with a view to sustainable practice: in business & in the design of your product or service.

6) Describe how the product or service fits the economic frame/s, assigning it B/corp. status.

7) Describe how the product works, delivery to market (distribution), logistics etc.

8) Identify the market’s ‘need,’ customer pain and/or the gap not being met.