week02
Table of Contents
Week 002
Thursday 24 June 2021
Ananda
Wednesday 23 June 2021
- Bill Gates - Co-founder of Microsoft
- there are many paths to success
- basic knowledge of sciences, economics
- not necessary to actually know how to do it, but to know what is possible or not
- Howard Schultz - CEO of Starbucks
- Believe you can succeed
- Reed Hastings - CEO and Co-founder of Netflix
- Hierarchy of factories had dominated
- creativity needs new ideas, lot more freedom, tolerate small mistakes
- manage on edge of chaos
- flexibility and innovation, not efficiency
- inspiring people instead of supervising them
- Richard Branson - Founder of Virgin Group
- Passion, enjoy what you do
Tuesday 22 June 2021
Herbert Lian
- (Re)Frame/Define Problem: SCQ first
- Situation: don't waste time, just align with what client wants
- Complication: what has changed ?
- Question: how to solve the problem arising from the change.
- Only when we have a good grasp of the problem framing before moving on to generating hypotheses. Otherwise, go back to fact-finding to be more sure of your diagnosis.
- We start off by Framing, then come back to ReFrame if our discussions find the original problem framed is not adequate/appropriate/too wide/narrow, i.e. when the team is stuck
- Generate Hypotheses: to Converge ideas: testable assumption/solution/option
- Six Sigma DMAIC is purist/comprehensive way of solving problems
- that's why for consultants, use hypotheses solving, place your bet by testing
- bet based on back of envelop testing
- if selected hypothesis is not proven, move on to next bet
- Options are always many, usually the problem is how to whittle down the many solutions into workable action plans
- Why turning possible solution into either it works or not, hence result in convergence of possible solutions, i.e. verify or falsify assumptions
- Pyramid Principle
- Sub-hypotheses: Breakdown the main hypothesis into its component parts
- e.g. create new sub-hypotheses to address the people, equipment and location/venue, i.e. pre-conditions
- to test the assumptions underlying assumptions
- identify the main categories of assumptions that are necessary for the Core Hypothesis
- MECE: Mutually Exclusive, Collectively Exhaustive
- Plan Your Work
- Check/Test hypotheses
- Prioritise analyses
- Back of envelope/ball park numbers
- prioritise: effort required x impact, 80/20 rule
- modelling
- Quick wins, Big wins(big impact), wild shot(low impact, high effort),possible traps
- estimate whether something in consideration is significant
- overcome fear of lack of numbers
Monday 21 June 2021
Andrew Osborne
Creative Problem Solving
- Deductive thinking
- Mental models
- Inductive thinking/approach
- illustrated by 95% drop of phone used, air travel
- a more accurate answer
- “We're always in a box”
- Shift from mental model to another
- Creative problem solving in Business
- Different perspective, e.g. Apples iPhone, iPad, etc, are not new
- Tools to shift mental models
- De-constrain
- Specify problem
- List inherent beliefs
- Challenge the beliefs
- Reframe problem
- Illustration: Ryan Air
- Re-formulate the question
- Be more specific/clearer, based on experience
- Well-crafted questions, needs to rigorous to frame the correct practical question
- Engaging and aligning
- Zoom in on situations that we can visualise
- identify target audience
- time-bound the issue/problem
- mention venue/location
- Shift perspective
- Generate ideas technique: shift personas/perspectives
- use personas representing each customer group
- competitor's perspective
- future perspective - think of where you want to be at a certain point in the future, then look back and think of what could have gotten you there
- think through the lens of a different company (not related)L philosophy, world view, e.g. Apple
- Making decisions
- Reframe:
- Diverge: quantity of ideas, crazy ideas, brainstorm
- Converge: running out of time, judge, analyse, selection criteria
- discuss/align/debate
- eliminate impractical options
- combine options
- edit options
- list pros and cons
- list “good” criteria to judge
- take to higher authority
- vote: green (low hanging fruits), amber (lay the groundwork for future), red
- identify cost(benefit) vs impact
- go for low-hanging fruits first
- Act:
- asd
Structuring & Problem Solving
Four stages:
- Frame/Define Problem
- Situation
- Complication
- Question
- Generate Hypotheses
- Pyramid Principle
- MECE: Mutually Exclusive, Collectively Exhaustive
- Making decisions
- Reframe
- Diverge
- Converge
- Act
week02.txt · Last modified: 2021/06/24 08:10 by suhaw