Design Thinking for Innovation

The design thinking tool applied in this assignment is the storytelling tool.

1. The Challenge:

As a newly opened company, a lot of the directors were/are worried about how the business would be  run, funding for the business, winning contracts with respect to the services we provide. There is no  doubt these challenges can be discouraging. A company into procurements, trading, logistics and  agriculture requires quite a lot of funding.

2. The Selection:

While we understand the challenge we face as a new company, we have also thought about how we can  approach this challenge, what is the challenge and why it has been considered a challenge. To answer  the what (in terms of challenge), as a company we understand the challenge is based on the fact that  the company is a start up and funding, staff recruitment and winning big contracts are very important.  To this end, we then answer the Why has this been selected as a challenge. This has been selected as a  challenge because we understand the importance of funding and winning contracts. As sited in the class  module, trying to be a sustainable brand as well as making profits and surviving the business clime can  be very challenging.

As a tool, we proceeded to subcontracting jobs to other companies with the capacity to handle so as to  reduce our cost as a company, adding additional directors with the ability of increase the funding gap of  the company, talking to investors and ensuring our services are top notch to ensure we win more  contracts. The storytelling tool was applied in this case.

3. The Application:

As a new start up, we needed to apply for funding, write business proposals for investors, attended gigs  that could provide funding, recruited more directors with the ability to increase the funding gap of the  company. All this was done while using the story telling tool. The challenges with regards to funding was  presented to investors and what we could achieve and how to overcome the challenges.

4. The Insight:

The insight and the tool as regards story telling was very effective. This also opened the team to more  opportunities and a broader designing thinking approach

The insight basically made me and my team more open to the challenges, gave broader approach as to  how the business can grow and ways to handle these challenges. The whole story telling actually made a  lot of investor more informed, calmer and willing to assist.

