1.     What is design thinking?

Design thinking is a methodology that focuses on providing solutions for identified problems by encouraging innovation and creativity by taking on the perspective of the consumer. The design thinking framework consists of five steps. The first is to understand or empathize with consumers to identify their needs. The second is to ideate and attempt to explore ideas and possible solutions. Once an entrepreneur moves to the third step to select which ideas to pursue generated from the previous step. The fourth step of the design thinking framework consists of prototyping the selected ideas. Prototyping involves the initial creation of the product and testing if the product is a viable solution to the problem. Once the prototype has been tested, the final step of the framework involves validation. During this part, the entrepreneur would attempt to test their product externally with consumers or others within the industry. Outside sources may provide valuable feedback that might have been missed during prototyping, and entrepreneurs can begin observing the real-world application of their product by potential users.   

2.     How has design thinking influenced a product I use?

Many products used daily within the average household have demonstrated influence from design thinking. For example, streaming services introduced the convenience and accessibility of watching movies. I remember as a kid going to Blockbuster to rent a movie or video game and on many occasions, the movie or game would be unavailable. So, I would have to check back occasionally after school to see if anyone returned the rental. Then once I got the rental, I only had a limited amount of time before I would have to walk back and return it. The creators of Netflix focused on bringing entertainment to users right at home eliminating the need for them to travel. It also allowed users more flexibility on when to watch movies without an expiration date.

3.     What are the connections between opportunities and planning?

Opportunities and planning are essential to create a successful business and are closely tied together. An entrepreneur would first identify opportunities in the market for a product. This could be in the form of identifying the target demographic for the product, emerging trends, or even attempting to discover gaps in the market that competitors have overlooked. Once opportunities have been evaluated, the entrepreneur could begin planning on how to capitalize on the identified opportunities. Planning allows entrepreneurs to establish goals and allocate resources efficiently.

4.     What opportunities have I missed?

One opportunity I missed out on was starting college immediately after high school. After high school, I was given the option to continue school with the help of my parents. At the time I was wary of loans or borrowing money from anyone. Rather than going to school, I decided to just start working. After a few years working at a gym and wanting more with my life I eventually joined the Navy. The military allowed me the opportunity to go to school or should I have stayed with the Navy, a promising career path. Honestly, I do not regret missing the opportunity of starting school earlier, and through taking other opportunities I experienced many things I may have missed out on should I have gone to college earlier.

5.     Can a successful venture be unethical?

Yes, a successful venture can be unethical in multiple ways. For instance, the exploitation of employees within a company. A successful venture may create unsafe working conditions to cut costs or in an attempt to increase productivity. Another example would be the product or service itself the company provides. A company may participate in an illicit activity such as illegal drug production or human trafficking. Lastly, if the company produces a byproduct harmful to the surrounding environment or requires the exploitation of natural resources in the immediate area. Recently, this issue has been reduced in many developed countries with many big corporations making efforts to reduce waste and increase environmental awareness. However, many underdeveloped nations continue this practice simply because they don’t have the resources or technology available.