Michael D. Moberly is a Business Intangible Asset Strategist, Risk Mitigator, and Founder – Principal of kpstrat and ‘Business Intangible Asset Blog
My interest in – attraction to ‘design thinking’ (as a process)lies with its relevance to business things intangible, because, today,and for the foreseeable– future…
- 80+/-% of most business’s valuation, revenue generation capability – capacity, competitiveness, and sustainability lie in – emerge directly from various forms, contexts, applications, and contributions from intangible (non-physical) assets, primarily…
- intellectual capital – relevant knowledge, know how, and expertise.
- structural capital – ways relevant processes, procedures, methods, and developments are-differentiated, treated, applied to products and services.
- relationship capital – business’ alignment with relevant–associations, sources, organizations, customer-client-consumer interests and regulatory-oversight, etc.
2. most challenges -risks materialize asymmetrically @ keystroke speed to target + adversely affect business’ mission essential intangible assets which are-proprietarily developed, held, and relied for competitive advantage, valuation, and revenue generation.
Design thinking includes three-interlinking segments…
- inspiration – seeks correct understanding + articulation of the problem, challenge, or risk, i.e., engaging in experiential research and determining whether a connection exists to the design-application of a particular product and/or service.
- ideation – involves introducing relevant thoughts, perspectives, and concepts intended to influence product – service design – re-design and apply as potential solutions (emerge from the inspiration stage above).
- implementation which include-involve effectively, lucratively, and sustainably launch – re-launch the ‘solution’ i.e., new product-service design – re-design with previous challenges – risks resolved or mitigated in relevant markets.
Experientially, a key benefit to business leaders’ receptivity to engage in ‘design thinking’ is to recognize, mitigate, and resolve potential challenges and/or risks (in advance) which customers, clients, consumers may experience.
In this context, design thinking can serve as a…
- practical – repeatable process to differentiate, articulate, expand, advance, and market the relevance of a business-specific operating culture, and its products and services…by legitimately drawing (customer-client) attention to foundational – underlying inputs + effects of particular-intangible assets, e.g., intellectual, structural, and relationship capital.
- legitimate – distinguishable process for enhancing customer, consumer, and/or client appreciation of, reliance on, and loyalty to a business’ offerings and connection to operating culture that is…
- responsive to foresees (potential) criticisms and challenges and addresses (mitigates – resolves) same.
- receptive to recognizing – monitoring – assessing its identity, brand, and personality to ensure each is relevant to projecting – developing – introducing…new product, service variations for new markets with (new) different sets of intangible assets, introduced – applied in different-ways, at the right time, at the right places and at the right cost.
I encourage readers to try it, you will probably-like it, and benefit from it. Please contact Mr. Moberly for suggestions and/or guidance.
The ‘Business Intangible Asset Blog’ is experientially-researched, written, and produced by Michael D. Moberly, to provide practical insights, and sometimes alternative perspectives to readers, ala business leaders, management teams, boards, stakeholders, and investors, etc., to aid in identifying, distinguishing, assessing, valuing, safeguarding, and lucratively – competitively developing – applying their ‘mission essential’ intangible assets.
Readers are-encouraged to review and comment on this, and other posts.