Dissecting Planning Further - Part 2: An Illustrated Example of Adaptive Planning

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En provenance du cours de Michigan State University

Planning: Principled, Proposing, Proofing, and Practicing to a Success Plan

19 notes

Michigan State University

Planning: Principled, Proposing, Proofing, and Practicing to a Success Plan

19 notes

Cours 3 sur 6 dans Specialization How to Start Your Own Business

According to Steven Blank a business startup, or any new venture startup is essentially a proto-type. Thus the startup process essentially becomes a learning process to refine that business proto-type into a scalable, replicable finished 'product'. At the end of this course learners will be able to: -complete a business model summarizing assumptions about what value they will offer to whom, and how they will make money. - systematically test and validate these assumptions within the constraints of their available resources, and - use these validated assumptions to generate financial projections that are based on actual resources and efforts expended. The days of the 40 page business plan have certainly passed, but the role of planning in the business creation process is one of extreme importance. In this course we will explore the important components that you need to explore in detail prior to business creation. Action without planning is a recipe for disaster and we will make sure you have a rock solid foundation for future actions. The planning here is focused on learning. It is unrealistic for anyone to document in detail all of the actions they should take to make a new venture or activity successful when they (and often no one else) has any experience with the new venture and the conditions which it is likely to face. Thus the business plan based largely on assumptions and aggregate, non-applicable data is replaced with the business model which organizes the key assumptions determining what value the business will offer to whom, and how it will make money. The course will guide learners through the process of systematically testing and validating these assumptions, and obtaining specific, applicable data. It will then show learners how to use these validated assumptions to generate pro-forma financial statements directly tied to actions and resources based on this business model.

À partir de la leçon

PRINCIPLED PLANNING

Planning is a critical part of the business development process. The planning required by the 'New Business Paradigm' requires a different perspective and processing than what is traditionally thought of as planning. It seeks continual discovery as opposed to a static right solution. Learning Goals: Steve Jobs famously said, "Think Different". He wasn't just referring to what you think, but also how you think. After successfully completing this module, you will be able to do the following. 1) You will be capable of thinking differently with respect to planning. 2) You will be able to provide a rationale for this different way of thinking based on your understanding of its conceptual foundations. 3) After reviewing several illustrative examples for this type of planning, and illustrative examples of its execution you will move towards mastering the principles of this new planning process. Note! Mastering the principles that underlie this planning approach is a 'profession skill' required for all professionals, not just entrepreneurs in our new economy.

Dissecting Planning Further - Part 1: An In Depth Examination of the Different Types of Planning5:38

Dissecting Planning Further - Part 2: An Illustrated Example of Adaptive Planning5:43

Dissecting Planning Further - Part 3: An Illustrated Example of Process Planning4:50

Dissecting Planning Further - Part 4: An Example of Principled Planning - - Putting it All Together6:50

Rencontrer les enseignants

Ken Szymusiak
Managing Director, Burgess Institute for Entrepreneurship & Innovation
Broad College of Business
Forrest S. Carter
Associate Professor, Faculty Director of Institute of Entrepreneurship and Innovation
Marketing
David Wheeler
Creative Research Faculty, The Hub for Innovation
Media and Information

[MUSIC]

Let's look at an example of adaptive planning

executed by an organization called Nordstrom Innovation.

[MUSIC]

>> I'm JB Brown, the Nordstrom Innovation lab manager, and this is the lab.

[MUSIC]

We work on one week experiments, somebody will have an idea and

we'll find a way to figure out how prove if the idea is going to work.

And this week the Innovation Lab is going to be building an iPad app

with customer feedback as we go through the week.

We wanted to work in a store to make sure the we were getting customer feedback

as we work.

So that we were never working on anything that wasn't valued by the customer and

only doing things that are delivering value.

So we'll be building a feature and testing it until we get to

the point where we have something that's good enough that we can just leave.

And leave the iPad behind and have this new thing that customers can use.

This is the worlds first flash build, it's a flash mob where a software team shows up

and builds an application in a surprise location.

This is a Nordstrom Innovation Lab, and

we're at the flagship store in downtown Seattle.

Right now the team is just setting up their equipment to get started.

We're going to build an iPad app that helps customers

pick the best pair of sunglasses for them.

We really don't know what the features are yet.

We're going to use customer feedback as we go along throughout the day and

the rest of the week in order to build the best thing.

>> So the next thing we're going to do is a user story map.

So we are going to sit here and together outline all the steps that a customer will

take, and actually even beforehand how they buy sunglasses.

Like what are the different things that they might do and

how that process might change if we have this application.

>> And then we'll actually dig into what we have to build in order to support

that process.

>> So, now that we've done a card mapping we're going to do a paper prototype.

And this is something that we commonly do in the Innovation Lab.

It's a great way to show what we'd like to do in a rough prototype that

we can easily throw out, change, alter, based on feedback from the customers.

I'll continue building individual paper slides.

And our user experience specialist, Telle, will bring the prototype to a customer and

say, okay, I have this app, and this is a paper version.

I'd like you to kind of use it like you would normally use an app.

And you can press things, interact with them, and

then she'll change out the pages based on how the customer uses it.

So it's a similar experience to the iPad, only an analog version.

>> So it's day two and we have our first working prototype of this app.

And how it works is I take my first pair of sunglasses,

put it on, a picture, all right.

And then I want to compare it to this other pair I've got right here.

Put these on.

[MUSIC]

Take another picture.

And I can just pull these up like this and see which one I like better.

>> While Telle and Kim have been talking to people and doing paper prototypes,

we've been coding, building an iPad.

We take a stab at something.

We look at the paper prototypes that they put together.

We might take one at a time.

Usually, we come to the board and we grabbed the most important feature and

we started implementing it.

The really cool thing with this flash build is that we have actual,

real customers.

Just today we delivered four or five different, separate features, and

I've delivered it, swapped the iPad with Telle.

She'd go and talk to a customer, and ten minutes later I had feedback

from real customers about this thing that I delivered, and

it changed how we did the next thing.

>> Okay, so I'm going to show you what we've been working on the last five days.

We've added quite a few features over the week.

You take a picture, multiple pictures of the customer.

And then you can pull them up, and tap the first one, you can see it larger.

And then tap the second and

do a side by side comparison of each glass next to each other.

We also added a feature where you can rename the picture.

Because we heard from salespeople if a customer is trying on quite a lot of

glasses, it's helpful to be able to know what order they were taken in, and also

rename if you want with the brand or some distinguishing feature about the glass.

Another feature we added was the ability to zoom.

You can zoom in and really get a good detailed look at the frames side-by-side.

Also, you see one of the pictures larger if you want, to just,

better view of one frame.

You can flip the camera view as well.

Face it forward so the salesperson can take a picture of it like this, or

you can flip the camera so you can take a picture of yourself facing forward.

And then at the end of it all we have a button called New Customer, which just

erases all of the images and allows the salesperson to start with a new customer.

>> One of the challenges with software is when are you done, right?

And I think the answer's really it depends on how much time you have.

At least the most important things got done.

So this was time box to a week, and we did a weeks worth of work and

it seems like what we have now is something that makes customers happy, and

addresses the main problems and something that we can track, we have metrics on.

So, I think we're going to call that a day.

>> Now, it's more than likely you don't have the resources of Nordstrom Lab, or

the cooperation of a major retailer as shown in this video.

That doesn't keep you from replicating the process though.

You may not be able to do it in five days.

Okay, do it in five months, a year, whatever.

You may not be able to use a retail store, or you may.

But you can do it at the beach,

at a sports arena, at a barbecue in the backyard.

The point is, design a process around your resources

that allows you to take action in a designed disciplined way

that generates information, that allows you to learn.

To gain insights so that you move closer to some optimal solution.

[MUSIC]

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