Dan Kraemer: Growth Through Design and Business Strategy.

Summary

The speaker emphasizes the convergence of design and business thinking to drive innovation and growth. They discuss the importance of understanding unarticulated customer needs and behaviors through user-centered design research, which informs the creation of new business strategies. Examples include Allstate's shift into digital identity protection and a pharmaceutical company's move towards precision medicine. The talk highlights how combining design thinking with business acumen can lead to the development of new businesses and market opportunities.

Takeaways

• 🔗 The convergence of design and business thinking is essential for creating new growth strategies and building new businesses.
• 👥 Diverse teams including researchers, designers, business strategists, engineers, and architects collaborate to uncover new behaviors and needs through user-centered design research.
• 🚀 Growth is a top agenda for CEOs and senior leadership across industries due to its impact on attracting top talent and shareholder value.
• 📈 The stock price of a company is essentially the net present value of all expected future returns, making growth a key driver for shareholder satisfaction.
• 🆕 Creating new businesses is challenging and requires going beyond the core business, taking risks, and dealing with uncertainty.
• 🎯 Design thinking is crucial for its human-centered approach, prototyping to learn, and translating unmet needs into future demand.
• 💼 Business thinking is necessary for understanding market dynamics, aligning leadership, building cohesive business models, and allocating capital effectively.
• 🏆 Companies like Allstate are transforming by leveraging design and business thinking to move into new markets, such as digital identity protection.
• 🛠️ Prototypes are used to create data from the future, allowing companies to test and learn from new products or services before full-scale launch.
• 💡 The combination of design thinking and business thinking allows companies to answer key growth questions: where to play, how to win, what to build, and when to act.

Q & A

What is the primary focus of the convergence of design and business thinking?

The primary focus is to create new growth strategies, uncover new behaviors, and build new businesses by integrating design thinking and business thinking.

How does user-centered design-led research contribute to innovation?

User-centered design-led research contributes to innovation by uncovering unarticulated needs, motivations, and unsupported behaviors through observational research, which are opportunities for innovation.

What are the two main reasons why companies are obsessed with growth?

Companies are obsessed with growth because top performers are attracted to growing companies for exciting projects and advancement opportunities, and shareholders want growth as it influences stock price and future returns.

How does the concept of creating new businesses relate to delivering superior long-term results?

Creating new businesses allows for delivering superior long-term results by introducing new opportunities that analysts are not aware of, as they don't exist yet, thus exceeding expectations beyond current market analysis.

Why is design thinking important in the context of creating new businesses?

Design thinking is important because it is human-centered, focusing on unmet needs and translating current activities into future demand. It also allows for prototyping to learn and create data from the future, which is crucial for new and untested ideas.

What is the significance of business thinking in the process of creating new growth?

Business thinking is significant as it helps in understanding market dynamics, aligning leadership, building cohesive business models, and carefully allocating capital, which are essential for the successful growth of new businesses.

Can you explain the shift Allstate is making from an actuarial company to a technology company?

Allstate is shifting from an actuarial company focused on traditional insurance to a technology company that builds digital products aimed at protecting customers' digital identities, reflecting a future where digital assets are considered the most valuable.

What is the role of the MVP app created by Allstate Digital Ventures?

The MVP app created by Allstate Digital Ventures discovers and visualizes a customer's digital footprint by scanning the internet for all accounts the customer has interacted with, enabling them to see, know, and control their digital identity.

How does the convergence of design and business thinking help in creating new growth?

The convergence helps by identifying opportunities through design thinking and leveraging business thinking to strategize, build models, and allocate resources effectively, thus reducing risks and increasing chances for successful growth.

What is the significance of the framework that connects design thinking and business thinking?

The framework is significant as it provides a structured approach to repeatedly uncover new behaviors, create growth strategies, and build new businesses by connecting the tools and methodologies of both design and business thinking.

How does the example of a major pharmaceutical company leverage design and business thinking for growth?

The pharmaceutical company is leveraging design and business thinking to transition from traditional drug creation to precision medicine, which involves optimizing treatment based on an individual's genetic profile, aiming to improve patient outcomes and create new business opportunities.

Outlines

00:00

🌐 Convergence of Design and Business for Growth

The speaker emphasizes the importance of combining design and business thinking to foster innovation and growth. They discuss the convergence of diverse teams including researchers, designers, and strategists to uncover new behaviors and needs through user-centered design research. This approach is used to create growth strategies and build new businesses with clients across various industries. The speaker highlights the obsession with growth in businesses, explaining that growth attracts top performers and shareholders. They also touch on the idea that creating new businesses is a way to achieve long-term superior results beyond analyst expectations.

05:01

🛠️ Reducing Risk through Design and Business Integration

The speaker explains how design thinking, with its human-centered approach, complements business thinking to reduce risks and increase growth opportunities. Design thinking helps in understanding unmet needs and motivations by prototyping and learning from future data. Business thinking contributes by understanding market dynamics and building cohesive business models. The speaker shares an example of Allstate, which is transitioning from a traditional insurance company to a technology company focused on protecting digital identities. This transformation involves creating a separate business unit and an MVP app to discover and visualize users' digital footprints.

10:02

🔍 Unveiling Digital Footprint and Identity Protection

The paragraph discusses the concept of digital footprint visualization and its importance in cybersecurity and digital identity protection. It details how Allstate, through its new business unit Allstate Digital Ventures, has developed a product that allows users to see and control their digital footprint. The product is designed to transform an ambiguous concept into a visible and manageable one, sparking curiosity and engagement. The speaker also highlights the new capabilities that Allstate had to develop, such as product strategy, design, and technology, and the creation of new roles and leadership opportunities within the company.

15:21

📈 Framework for Growth through Design and Business Convergence

The speaker introduces a detailed framework that illustrates how business thinking and design thinking intersect to uncover new behaviors, create growth strategies, and build new businesses. They discuss the process of identifying growth markets, aligning executives, defining capabilities gaps, and creating business models. The framework also incorporates design thinking tools such as research, prototyping, and experience design to address questions of market understanding, product differentiation, and user adoption. The speaker emphasizes the importance of this convergence in creating new businesses and staying competitive in the market.

20:23

💊 Precision Medicine and the Future of Healthcare

This section explores how a major pharmaceutical company is leveraging design and business thinking to move into precision medicine, which involves optimizing treatment based on an individual's genetic profile. The speaker discusses the potential of precision medicine to transform healthcare by allowing for hyper-personalization of doctor-patient interactions and the use of digital therapies. They also mention the challenges and opportunities in this field, such as the need for new business models and the importance of understanding true user behavior and willingness to pay for such services.

25:25

🎓 Embracing the Convergence for Future Success

The speaker concludes by emphasizing the advantages of understanding both design and business thinking, particularly for those coming out of business schools. They highlight how this convergence prepares individuals to tackle growth problems and create strategies in a holistic manner. The speaker encourages the audience to embrace this approach, as it is not only beneficial for personal career growth but also for the success of modern companies that value both design and business acumen.

🏆 Celebrating Achievements and Future Prospects

In the final paragraph, the speaker congratulates the audience for their achievements and participation in the competition. They acknowledge the hard work and the value of the collaborative efforts in designing and business thinking. The speaker also expresses excitement for the upcoming presentations and visions that the participants will share, looking forward to seeing the outcomes of their competitions.

Keywords

💡Convergence

Convergence in the context of the video refers to the merging of design thinking and business thinking to create innovative strategies and solutions. It is central to the theme as it describes the process of combining different disciplines to foster growth and innovation within businesses. The video emphasizes how diverse teams, including researchers, designers, and business strategists, collaborate to uncover new behaviors and opportunities for innovation.

💡Growth Strategies

Growth strategies are plans or approaches designed to expand a business's market share, customer base, or revenue. In the video, the speaker discusses the importance of growth for companies, particularly in attracting top talent and satisfying shareholders. Growth is depicted as a primary agenda for CEOs and senior leadership, with the speaker sharing examples of how companies like Allstate are creating new businesses to achieve this growth.

💡User-Centered Design

User-centered design is a design approach that focuses on the user's needs, context, and behaviors to guide the creation of products. The video mentions how this approach is used to conduct research that uncovers unarticulated needs and motivations, which are then translated into opportunities for innovation. This concept is integral to the video's message about understanding and addressing user behaviors to drive business growth.

💡Innovation

Innovation in the video is discussed as the process of translating identified opportunities into new products, services, or business models. It is closely tied to the theme of growth, as the speaker explains that innovation is a key driver for business expansion and is often the result of combining design thinking and business acumen. The video showcases how companies innovate by creating new businesses that address emerging market needs.

💡Prototyping

Prototyping in the video is described as a method used by designers to create early versions of a product to test its feasibility and gather user feedback. It is a critical component of the design thinking process, allowing for learning and iteration before a full-scale launch. The speaker uses Allstate's development of a digital identity protection product as an example of how prototyping helps to reduce risk and inform business decisions.

💡Market Dynamics

Market dynamics refer to the forces and trends that influence the market environment in which a business operates. The video discusses the importance of understanding market dynamics for business thinking, as it helps in aligning leadership, building business models, and allocating resources effectively. It is a key factor in determining how to enter new markets and compete successfully.

💡Capital Allocation

Capital allocation in the video is the process of distributing financial resources within a company to fund its operations and growth initiatives. The speaker emphasizes the importance of careful capital allocation, particularly when creating new businesses that involve high uncertainty. The video illustrates how research and prototyping can provide the confidence needed to make informed capital investment decisions.

💡Design Thinking

Design thinking is a problem-solving approach that emphasizes empathy for the user, experimentation, and iterative design. In the video, design thinking is highlighted as a valuable tool for uncovering unmet needs and translating them into innovative solutions. It is portrayed as complementary to business thinking, with the two converging to drive growth and create new businesses.

💡Business Thinking

Business thinking in the video involves strategic planning, market analysis, and financial management to achieve business objectives. It is presented as a critical component in the process of creating new growth opportunities, alongside design thinking. The video illustrates how business thinking helps in understanding market dynamics, aligning leadership, and building cohesive business models.

💡Collaboration

Collaboration is a recurring theme in the video, emphasizing the importance of diverse teams working together to uncover new behaviors and create innovative solutions. The speaker shares examples of how collaboration across different disciplines, such as design and business, leads to the development of new growth strategies and businesses. It is depicted as a key driver for innovation and growth within organizations.

💡Precision Medicine

Precision medicine, as mentioned in the video, is an approach to medical treatment that takes into account individual variability in genes, environment, and lifestyle. The video uses the pharmaceutical company Lilly as an example of how design and business thinking are converging to move from traditional drug development to personalized medicine, aiming to optimize treatment based on an individual's genetic profile.

Highlights

Convergence of design and business thinking is essential for creating new growth strategies and building new businesses.

Diverse teams including researchers, designers, and strategists collaborate to uncover new behaviors through user-centered design research.

Innovation opportunities arise from understanding unarticulated needs and motivations through observational research.

Growth is a top agenda for CEOs and senior leadership across industries.

Top performers are attracted to growing companies due to exciting projects and opportunities for advancement.

Shareholders seek growth, which is reflected in the stock price and the expected value of all future returns.

Creating new businesses is a strategy to deliver superior long-term results beyond analyst expectations.

Design thinking is crucial for its human-centered approach and ability to prototype to learn.

Business thinking is necessary for understanding market dynamics, building business models, and allocating capital.

Allstate is transforming from an insurance company to a technology company to protect digital identities.

Allstate Digital Ventures was created to build digital products, demonstrating the convergence of design and business thinking.

An MVP app was developed to discover and visualize an individual's digital footprint, turning ambiguity into control.

New capabilities like product strategy, design, and technology were required for Allstate's shift into digital identity protection.

The framework connecting design thinking and business thinking was introduced to identify growth opportunities and build new businesses.

Lilly, a pharmaceutical company, is leveraging design and business thinking to move into precision medicine.

Precision medicine focuses on optimizing treatment based on an individual's genetic profile.

Design thinking helps in understanding true user behavior and willingness to pay, crucial for market sizing and investment decisions.

The convergence of design and business thinking is a competitive advantage for modern companies seeking growth.

Business school graduates with design thinking skills are well-rounded and highly sought after in the job market.

Collaboration between design and business professionals results in a holistic approach to solving growth problems.

Transcripts

so a tie a collaborative we are

converging design in business thinking

in order to create new growth strategies

uncover new behaviors and build new

businesses the first thing I'll do today

is share what this convergence of design

and business looks and feels like

[Music]

[Applause]

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so what you saw there were diverse teams

researchers designers business

strategists engineers architects all

collaborating to uncover new behaviors

through user centered design led

research observational research that

gets to what people are doing not just

what they're saying uncovering

unarticulated needs and motivations and

unsupported behaviors these are

opportunities for innovation we

understand these opportunities through

this type of research we create growth

strategies and then we build new

businesses collaboratively with our

clients in clients that we have include

global 100 clients people that are

across multiple industries you know tech

insurance pharmaceutical companies

leaders of their industries what do you

think the one thing is that is at the

top of these agendas the top of the

agenda for the CEO and the senior

leadership at every single company on

this slide its growth but why growth why

are we always obsessed with growth this

whole competition is about growth I

think it's one really important thing

and also a secondary thing but the most

important thing is teams top performers

love being at growing companies there's

great projects exciting things to work

on opportunities for advancement and

importantly opportunities to lead had a

growing organization consistently people

with subject matter expertise in the

area which the company is growing

regardless of tenure or hierarchy have

opportunities to lead and that attracts

the best people the second reason

shareholders and shareholders of course

want growth they want growth of things

like this stock price but the thing is

about this number that everybody

obsesses about you know people said the

chief executive officer really should

just recall the chief earnings officer

but the number that's up there is the

expected value of all future returns

future returns of every business that

you're in so you think about this an

analyst might be following avid

Fed Ex Pepsi any publicly held company

and they understand every business that

that company is in they understand what

the growth rates are they've figured out

what you're gonna earn next quarter most

likely next year five years from now

they're discounting all that growth back

to present day they come up with an NPV

and that is essentially your stock price

we know there's other things going on

but that's really how it works so if

you're an executive and you're

anticipating growth it's all baked into

the current day price so what do you do

how do you deliver superior long-term

results they're above and beyond what

analysts think is actually possible I

think the only reasonable way to do this

is to create new businesses things that

analysts don't know about because they

don't exist yet so creating new

businesses creating new growth is not

easy it requires us to go beyond our

core to take risks to place really big

bets in areas that have a lot of

uncertainty and because of this that's

why I collaborative we are converging

design thinking and business thinking in

order to reduce the risk increase the

opportunities to create new growth

design thinking is really important

because of a few reasons one is it's

incredibly human centered we look at

unmet needs we look at unarticulated

motivations and we translate current day

activities that are unsupported into

future demand the other thing that

design does really well is it prototypes

to learn if you're creating something

that's entirely new to your business or

perhaps to the world there's no data out

there about that so what we do as

designers is we prototype essentially to

create data from the future you get

things that are not quite baked you get

them in front of users you understand

how they are interact with them and then

all of a sudden you have an idea of how

people might interact with this once it

gets into the real world

you also need business thinking

understanding market dynamics aligning

leadership building cohesive business

models and of course carefully

allocating capital so the combination of

these two is incredibly powerful and

today I'm going to share a few examples

of how we converge design thinking and

business thinking in order to help

range of clients so the first one I want

to talk about is Allstate its Allstate

in a growth market not exactly IBISWorld

thinks it's growing about 1.9 percent

roughly so what are they gonna do

they're gonna build entirely new

businesses and that's what all they did

in collaboration with them they don't

want to talk about today so Allstate is

typically in the insurance business of

cars and autos your most valuable things

but if you talk to senior leadership at

all-state they think that your most

valuable things in the future won't be

physical assets but they will be digital

your personal identity all the things

that are out there about you on the

Internet so if you think about it today

companies are selling your data without

your permission and that's the best case

scenario worst case it's on the dark web

somewhere and if bad things are

happening to it but in the future

companies will be paying you for your

data and you will want to protect it you

want to protect it now so in order to do

this Tom Wilson has set out a bold

vision he says we all gave up our data

without knowing what it's worth I'd like

to change that data marketplace and turn

it on its head and that's exactly what

all states done but in order to do that

they had to transform from an actuarial

company creating an insurance policies

to protect your things into a technology

company that builds digital products for

to protect your digital identity

it's a massive shift so I'm going to

share another 90 second video with you

which demonstrates what this looks and

feels like and it's narrated by Tom

Wilson when he is talking about this and

announcing it at CES earlier this year

in January are you announcing what is

also announcing this year we're

basically gonna help customers figure

out the digital footprint is

[Music]

most people when you get hacked then

that's like about 16 million got hacked

last year you gotta figure out how to

remediate with your credit card

companies your banks aren't as tough but

we help people do that that's in the

rearview mirror

we're doing is help you look out the

front windshield and say what's your

digital footprint so if you bought

something from the store three years ago

you don't realize you're still

collecting information I use so first

thing as we help you figure that out

[Music]

most people think they have about 50

accounts it's three times that most

people have 150 account 152 accounts I

didn't see that coming trying to is

empower the customer take control at the

digital life okay cool there's one done

[Music]

you've traded away our individual

information without really knowing what

it's worth and so what we want to do is

empower customers give them that choice

and take control of the digital life so

in order to launch this entirely new

business at all-state they created a

separate business unit called Allstate

Digital Ventures and they built an MVP

app which discovers your digital

footprint so it scans the Internet and

says what are the all the accounts that

you've ever interacted with for the

entire time you've been on the Internet

so not just the ones you remember but

everything and then enables you to see

know and control all of your digital

footprint so it's an insight driven

product we understood from research like

I showed in that first video where we're

getting out there and understanding

people's behaviors we understood that

people needed to take this kind of

ambiguous and visible thing which is

your cybersecurity and your digital

identity transform it into something you

can see which is this digital footprint

visualization back there in order to

control it

we also learned from research that

curiosity is a force for learning but

yet fear paralyzes you here is excited

to go and look at their digital security

and their cyber security and the threats

that they have most okay there's a few

of you most people are not we learn from

research that people just when they

thought about this they just seized up

and they did nothing but when you create

a visualization you take the invisible

and make it visible

it's sparked curiosity and curiosity

drove engagement and this otherwise kind

of scary place we also leveraged all

states brand which is renowned in order

to build trust in this otherwise kind of

nebulous space it required entirely new

capabilities at all state things that

they didn't have before things like

product strategy design DevOps

technology and I was talking earlier

about how growing companies are places

that top performers want to be this is

an example of that 200 new roles in two

years and many of them were thrust into

leadership opportunities regardless of

tenure or hierarchy

so that's why top performers want to be

part of growing companies it required a

lot of rapid onboarding make sure people

understood the values and the vision of

all state digital ventures and of course

entirely new ways of doing work taking a

prototype approach like design does 16

sprints in two years in order to iterate

and figure out exactly what users want

and what they might really adopt and

then also all that research gives great

confidence in terms of what to invest in

prioritizing what users need and what

the business needs so for example we

knew from research that online account

discovery and proactive account

management was really critical though so

that is something that allstate

committed to building internally

building machine learning and AI K ie

I capabilities creating proprietary

algorithms that don't exist in the

industry they also learned that users

want total identity monitoring's have a

one-stop shop and allstate found a

company info armor which does dark web

scanning sounds exciting identity

remediation and they also have in have

expertise within the sales channel of

employee benefits which opens up new

business models so sure you could sell

this and they are right now as

individual subscription models for like

an app store but this partnership this

this acquisition which was about a half

a half a billion dollars enabled them to

get in into entirely new sales channels

as well so Design Thinking Plus business

thinking converging in order to create

new growth so we're going to look at

this in a framework that connects the

two so design thinking plus business

thinking in order to identify where to

play what we did is observe new

behaviors in the hyper growth market of

cyber security 15 billion on market in

terms of how to win we understood from

that research that people wanted to see

protect and control the digital identity

and that visualization was key which

gained alignment to create an entirely

new division called Allstate digital

ventures in terms of what to build

discovering your account and visualizing

it sparking that curiosity and creating

engagement and something where

engagement was incredibly low before

I'll say got into this and it unlocked

new business models direct to consumer

as well as as well as b2b and then

multiple sprints

prototyping to learn which gives

confidence to allocate capital at a half

a billion dollars and also making

massive investments in terms of machine

learning and AI within all statement and

I'll show one video here which just

launched last week this is the digital

footprint I just signed up myself you

should check it out

[Music]

so the convergence of design business

they can enable this to be possible so

I'm going to introduce a detailed

framework here that shows how business

thinking and design thinking converge

and where those connection points in

order to repeatedly uncover new

behaviors great growth strategies and

build new businesses let's start with

business thinking guys are in business

school hopefully you know this this is

common practice that we the first thing

you do is you identify a growth market

right this is usually something that's

adjacent to your core probably as a

higher growth rate maybe as a little bit

of fragmentation so you can come in and

earn market share next thing you do is

you align executives on the promise of

this opportunity you define what

capabilities gaps exists and you define

a plan to fill them in in order to

capture the opportunity you create

business models that leverage your

earned advantages and ensure

profitability you size the market you

figure out what your fair share is you

figure out what those cash flows might

be you discounting them back and you say

this is what we should allocate in terms

of capital and to in order to get that

return our investment this works it

makes sense that's why we teach it here

in business schools we're leveraging

marketing strategy leadership ops all

the things that you're learning but in

growth markets there's new behaviors you

know

it's new to your company for sure

because you're growing into a new market

but it might even be new to the world

depending how much of a growth market it

is do you understand those behaviors

you're aligning executives but are you

aligning them on a unique and salient

insight that will give you a competitive

advantage you're creating business

models but are they are they based on

differentiated products and services in

the marketplace that users will really

want as a substitute for how they're

accomplishing that need right now and

then finally you think you know how big

the market is and what your fair share

might be but do you really know how

users are going to adopt it and how

they're gonna choose yours versus

another opportunity what is their

willingness to pay so these things use a

research problem reframing experience

design prototyping these are the tools

of design thinking that when hey

shared with and converged with the tools

of business thinking you're able to

answer the four questions of growth

which is where to play how to win what

to build

and when defined and repeatedly create

new businesses so Allstate is using this

we're using this with other clients I'm

going to share with you two more

examples of how we're leveraging this

framework and converging design and

business thinking in order to create new

growth Lily a very different example a

major pharmaceutical company they're in

the business of creating blockbuster

drugs by creating new molecules but they

are leveraging design and business

thinking to go beyond molecules into

precision medicine so if you don't want

know what precision medicine I'll tell

you what it is it's about optimizing

treatment based on an individual's

genetic profile it sounds a little

sci-fi we know about 23andme but this is

becoming super affordable and this is

the new way then medicines are going to

be created so Lilly is taking this huge

leap into precision medicine I'll show a

quick example of what this means so for

example there are 3,000 endocrinologists

in the in the in the country there are

30 million diabetics so if you do a

simple math that's one endocrinologist

per 10,000 patients or 12 minutes per

patient per year that does not sound

like precision medicine I don't think

you can get to know somebody and

actually diagnose them and prescribe the

right things to them in 12 minutes

so Lilly is asking questions like how

might we hyper personalize every minute

of those doctor visits how could we do

that this is through the lens of

precision medicine so example what if we

map every individual's genome what if we

track their behavior 24/7 obviously in

an opt-in basis we all have the devices

on us that enable us to do that I think

I have three of them on me right now

monitor their adherence which enables us

to provide very precision dosing exactly

what they need nothing more nothing less

for their genetic makeup and then the

output of that can be longitudinal

health insights for that twelve minutes

out of the year you get your doctor

there you're not subject to availability

bias what I what I did this week or last

week you're getting a full picture of

what they're doing genetically with the

medication lifestyle so you can make

those 12 minutes really count and

finally you can use maybe digital

therapies as proxy in those 364 days

when you're not at the doctor so when

you think about this the way therapy has

worked traditionally is you have

symptoms that eventually are observable

and they present eventually you get

diagnosed hopefully correctly and then

you get on a therapy and that's how you

manage your condition in the world of

precision medicine now of a sudden you

know so much about these patients that

maybe you can prevent it altogether

through the right lifestyle interactions

and in knowing what they're doing

tracking their data you can maybe really

diagnose before symptoms are observable

so your data and your trackers might

know this before a doctor or healthcare

practitioner or you might even notice

and then maybe there are digital

therapies that you engage with before

you actually get on medication and then

when you do get on medication you can

augment it with other digital

experiences that make that that

experience much better for you

ultimately that shifts you from therapy

to an overall wellness of the patient so

how does design a business thinking come

together in this case new possibilities

to improve outcomes using a design

thinking lens and then you've identified

that this is within a trillion-dollar

precision medicine growth market how to

win ubiquity of low-cost gene mapping

this is something that we can leverage

and extend for the good of the world and

the good of the business right and that

gets alignment at a company like Lilly

on precision medicine what to build

patient relationships you have a patient

relationship about therapy this extends

your relationship across a much wider

expanse which gives you a better

opportunity in a larger marketplace and

you do this through new digital and

service models and then finally you know

if anybody knows about clinical research

and how this works it's like a seven

year process if you go into it and you

don't it doesn't work you can have to go

back to square one so we're working with

Lilly to use design lead research in

order to understand what might work

before you get into clinical

rales understanding true behavior and

true like behavioral change through this

unusual and new methods of digital

therapy and precision medicine which is

enabling Lily to make much smarter

investments to expand the scope of what

medicine means in medicine delivery so

Design Thinking plus business thinking

hopefully you're a believer right now

right in summary what do we do we

uncover new behaviors in growth markets

we create and identify unique insights

to align leadership we create

differentiated products and services for

sustainable business models and then you

understand true adoption for things

through things like prototyping in order

to give confidence in the right capital

allocation so you might be asking

yourself did this guy just double my

responsibilities and workload yes I did

but that's okay because this is how the

world is happening the convergence of

design and business is how future

companies will succeed I've shown you a

few examples of how companies are

succeeding right now in radically

different industries but the thing is

you have an advantage everyone in this

room you've been working with design

methods and competitions like this in

design clubs at your top business

schools you have an incredible advantage

in this space you know if you come out

of business school you might look a

little bit like this right

you have marketing finance econ ops

leadership strategy experience and you

have maybe varying levels of competency

from having a shared mindset around this

building proficiency to becoming an

expert you know maybe maybe you look

like this maybe you look like this if

you overslept in Finn 3 1 too many times

I doubt that's I doubt that you but if

you come out of Business School you

probably look like this but you you look

different

you're more dimensionalized you not only

have the domains and the skill sets of

traditional MBA you also understand

research reframing experience design and

prototyping you've worked

these things and you you know some of

you might have more or less of either

either of these things but it's you're

more well-rounded more holistic and

you're you're who people want you're who

modern companies like a collaborative

one like Amazon like people who are

using design and business to grow so we

want you to come and work with

collaborative teams that look not just

like you you know content strategists

engineers graphic designers

ethnographers and when you collaborate

you become stronger as do they you know

you might be working with a data

scientist who is really strong at

prototyping and research an interaction

designer who's really great experience

design and problem reframing and you

bring the viability piece and together

you represent a holistic picture of how

to attack any growth problem a perfect

merger of design and business to create

growth strategies and build new

businesses so this is what you've been

doing that's what you've been doing in

this competition you your team's the

collaborations that you've been having I

can't wait in the next few hours to

understand and take in all the visions

that you've you've created for for this

competition and I do just want to say

congratulations making it here to this

day is a huge accomplishment in and of

itself so you know I say congratulations

to every single person here and also

good luck to the contenders it's going

to be a great great experience

[Applause]

[Music]