jwendesign

[jwendesign]

What is stimulating new types of business models?

Response to “Rethinking the Business Model”, published by KPMG International, 2006

47% of executives review their business model plan once a year. Why? Companies need to reassess assumptions and regain sharp focus in this ever changing market. According to Rethinking the Business Model, published by KPMG International, the reasons for companies reevaluating business plans in the coming years is due to rapid change in the emerging markets, new technology expansion, and core customer needs. 

"The business model is distinct from strategy, although understanding each of its components and how they interrelate can help companies to make better strategic choices.” —Joan Magretta, senior associate at the Institute for Strategy and Competitiveness at Harvard Business School (pg.10)

I observed the differences in KPMG’s business model components with the Business Model Canvas structure: The KPMG model defined a business model as “the mechanism by which a business intends to generate revenue and profits”, and its core components include value proposition, market segment, revenue-generation model, cost structure, value chain.  

To my reflection, KPMG’s model is heavily market and revenue driven. However on the other hand, according to Business Model Generation, by Alexander Osterwalder & Yves Pigneur,— they defined “a business model describes the rationale of how an organization creates, delivers and capture value”, which to me is heavily focused on value as a gift to the end-customers. Although I would personally resonate with the value-driven alignment, from a statistical standpoint, KPMG’s report provides great value to peek into the current and future trends. 

Two interesting statistics stood out to me as I reviewed the report: 

1. One in five companies sees changing customer behavior as a threat, while a further 22% see it as a mixed blessing. 

I believe this statement reflects back to the rapid change in emerging markets & core customer needs. It is unavoidable that the ever changing market environment would only accelerate in our generation progress— thus, incorporating behavior change and emotional engagement consideration into the business planning process will only becoming more critical for future organizations. 

2. Over the past 3 years, the area where business models have been revised most has been in the area of cost efficiency (44%); secondly, value proposition (40%), and revenue streams (31%)

This report was published in 2006, which means the statistic was reflecting base on the market trends and activities from 2003-2006. I find this indicator very interesting that companies would prefer to "budget and save" rather than investing in new revenue streams. I wonder if there were recent studies on the similar topic, and how that would reflect our current economic performance on a regional and global scale. 

(Original article submitted for Timothy Smith’s Business Models & Stakeholders class)

[jwendesign]

Business Model Is Key

Here are couple key highlights that grounded my view on the importance of utilizing business models. Inspired by How to Design A Winning Business Model, Ramon Casadesus-Masanell and Joan E. Ricart, and Why Business Models Matter, Joan Magretta

What Is a Business Model?

A story that describes how one entity operates, creates, and captures value for stakeholders in a competitive marketplace. A business model helps an organization to operate more effectively.

How Is Business Model Different From Strategy and Tactic?

I appreciated the automobile metaphor in Casadesus-Masanell and Ricart’s writing: business model is the car itself; strategy is designing and building the car; tactic is how the car is being driven. We, as design strategist, are able to craft the vision, mission, and design the specific activities as of how to reach those goals — meanwhile, “tactic” will be up to “how does the organization drive its dream car”.

Business Models = Virtuous Cycles!

The main component of a business model includes, goal alignment, self-reinforcing (internal consistency), and robust framework. The example of American Express with its travelers’ check has demonstrated the win-win-win* outcome by utilizing a properly positioned business model (*win-win-win: AE’s innovative business model on generating profit in new market territory; travelers’ sense of security and convenience; local stores’ business opportunity with travelers) This is a successful example of how an effective virtuous cycle could benefit the organization.

Business Model vs. Scientific Method

There is a clear parallel between business model to a scientific method: start with a hypothesis, test in action, revise, and repeat. I’d argue this iterative process is the only way to keep up with our ever rapidly-changing* economy (*due to deregulation, technological change, globalization, and sustainability…etc). The statistic has shown that 70% of organizations are creating new innovative business models, and 98% are modifying their current existing business models.

Additional Thoughts:

To elaborate on the rapidly-changing economy and its iterative process — I have observed the similar pattern in both design-thinking and business model planning, and I’d credit the similarity to strategic, yet highly adaptable. In both articles, the key to business model planning is to closely observe ‘competition’. To embrace the fast-pace change in environment — and modify actions accordingly.

(Original article submitted for Timothy Smith’s Business Models & Stakeholders class)

[jwendesign]

1/4 DMBA Reflection

As I wrap up my very first semester of my DMBA career. I have couple key takeaways based on my experience working on Project Fote:

• Drop the industry experience ego. BUT, do share the skills to help each other grow

My team, team 4-sight, has the privilege that all team members are extremely diverse from the industry background, culture, personality, and age. The team dynamic is very unique. Coming into DMBA, a high collaborative environment, we were taught to drop our industry experience ego right away — no matter where we come from, we all start from zero in the classroom. There is a fine balance between staying humble, let go the ego, but also sharing particular skill sets to help the team advance at the right timing.

• Cultural sensitivity

We chose our target user to be Latino 25–35 years old — which means, nobody from our group fits into our target group; /and/ there is only one team member who shares a firm understanding of Latino culture. We, as a team, needed to put in the extra effort to understand the core of the culture differences by conducting many user interviews from various view points. I credit a big part of our project to team’s capability of being culturally sensitive.

• Welcome feedback & allow pivot

We went into R4 feeling confident about our progress, and yet, we walked out of residency feeling defeated and panic due to a major pivot. As a creative who works in high stress, tight deadline environment — the emotional intelligence control is absolutely critical. Instead of allowing the panic the grow, the team instantly re-organized our thoughts and move on at a much faster speed.

• Keep the momentum going

Keeping the energy high, making sure people are happy — the positive vibes yield concentration and productivity for self and the team. I am grateful for witnessing the team opened up to each other as the semester unfold. The inside jokes and laughter certainly get the job done much more enjoyable than the stiff business-talk.

Meanwhile, I thought this may be the best way to capture this meaningful experience:

(Original article submitted for Lisa K. Solomon & Susan Worthman’s Innovation Studio class)

[jwendesign]

Why Pro-Bono

by Jessica Y. Wen

If we were to start with the good old “Asking WHY 5 times is the fundamental problem-solving technique that helps to get to the core of the problem.” then… it shall all start with, WHY do I believe in Pro-Bono?

My most immediate response was “why NOT pro bono?” There is something uniquely beautiful in this genuine exchange of professional skills and environment of mutual trust. The idea of ‘helping society’ is often very abstract. Pro-bono helps define one act of giving. It is simply, contributing a little bit of your time and knowledge in order to benefit someone else.  “Doing good” suddenly becomes a lot more comprehendible.

Matthew Manos, founder and partner at verynice, mentioned in his recent GiveHalf writing that “There are far more of us with valuable skills than there are people with extraordinary wealth.”  As a young designer myself, it is very empowering to discover that I, too, can have the ability to give back to the society by participating pro-bono projects through design.

WHY Free? Don’t you have to pay rent and bills?

The short answer is: yes, rent and bills are waiting for me just like they are waiting for everyone else! However, it is really rewarding to practice the pro-bono model in our heavy capitalist society. It almost makes me feel like that rebellious badass kid who chases her dream for good.

I personally believe that “philanthropist”, a person who seeks to promote the welfare of others, especially by the generous donation of time/money/skills to good causes, is not only a belief system, but, an act of social activism— it challenges society to progress in a positive direction by his/her professional practice and behavioral decision.

Philanthropy does not only apply for older, successful, and wealthy people; in fact, it doesn't require large amount of capital donation either. By incorporating pro-bono projects into  the professional world, we can all contribute and ‘donate’ a little bit of our skills everyday for a good cause. At the end of the day, money does not define someone’s happiness; but that sense of fulfillment that comes from helping others could really brighten someone’s professional life.

WHY is it important to participate in social activism?

ACTIVIST: a person who campaigns for some kind of social change. When you participate in a march protesting the closing of a neighborhood library, you're an activist. Someone who's actively involved in a protest or a political or social cause can be called an activist.

I believe that in order to have a sustainable business model, one must make his/her decision base on social courteousness and empathy. Or, simply, the gut feeling of trusting and connecting with others.

Maximizing profit has always been the first priority in our society in the past decades. However, with the recent culture of progress—we have been made aware of issues such as environmental welfare, population growth, as well as various serious problems in our very own communities— domestic and international. With that, I believe each and every single one of us is responsible for making sustainable decisions to support our society’s progress in a positive direction.

WHY is that related to you as a designer?

I received my undergraduate degree from Maryland Institute College of Art (MICA) in Graphic Design. At the early stage of my design practice, I thought design was only about problem-solving in a visual way: the detail nitpicking of color, typography, and hierarchy to name a few.

As my design journey progresses, I started to engage my design skills with real-world, complex issues. The problem I try to solve is no longer solely based on “how to make this poster LOOK sexy”, but rather, “who are my audiences? what kind of neighborhood/environment is this presented in? what is the potential impact my design could make on audiences/community? how do they FEEL about the issue?”

I have always found myself attracted to topics in sociology and cultural behavior. Discovering the human-centered thinking methodology was the turning point on my perspective. The sudden realization that my design skills can benefit a larger audience group and support social causes that I care about was the most liberating feeling. EVER.

I love my career as a creative; and the fact that I could bridge my design skills and my heart for social innovation by participating in pro-bono projects is honestly the greatest career track I could choose for myself.

With that, I will conclude my last but not least WHY as: WHY ain’t you participating in pro-bono (yet)?

[jwendesign]

My Camera Collection: 

Nikon FM10 35mm SLR

Nikon 35~70mm, F/3.5~4.8 (Lens)

Canon Rebel T1i 35mm DSLR

Canon 18~55mm, F/3.5~5.6 (Lens)

Canon 55~250mm, F/4~5.6 (Lens)

Canon 50mm, F/1.8 (Lens)

Panasonic LUMIX TS20

Ikelite 6270.20 underwater housing

Panasonic LUMIX LX100

[jwendesign]

December 5-6, 2014

Social Enterprise Bootcamp 

New Voices: Integrating Fresh Perspectives on Social Entrepreneurship

Social Enterprise Bootcamp 2014 is a 2-day series of entrepreneurship and practical skill-building workshops for students, social entrepreneurs, and anyone interested in learning how to do the social swivel!

[jwendesign]

Nov.2014 | On the topic of Child Boxing

Recently had a (heated) conversation with one of my friends on the topic of child boxing. My point was— the act of child boxing itself is a positive and healthy outlet for stress; however, with a different culture context and economic background, it is an act that is beyond awful (especially when it involves gambling and physical damage for the kids).  With that, I did some research on the topic and organized some thoughts through this diagram.

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Related links (USA):

• NBC News <http://goo.gl/dsqUiM> • NationalSwell <http://goo.gl/KGn2LI> 

Related links (THAILAND):

• Muay Thai Culture Documentary<http://goo.gl/lis0PH> • FORBES <http://goo.gl/lYmynE> • HUFFPOST<http://goo.gl/dBjpFR> • ESPN <http://goo.gl/JJ8IPs>

[jwendesign]

Nov.2014 | Brand Positioning Workshop Flowchart

A flowchart I made base on my experience teaching branding workshops with students at Ashoka's Catapult. The initial curriculum and workshop structure was provided by the verynice team, however, after working with the students at both locations (Philly & Boston), I revised the structure based on my observation of the students and most commonly asked questions. In addition to that, the blue annotation reflects my experience on how to most effectively explain the workshop exercises to students. 

[jwendesign]

Nov.2014 | #Beverynice w. Ashoka's Catapult

verynice's partnership with Ashoka's Catapult program gave me an amazing opportunity to teach a branding workshop with group of talented young individuals at UPenn & Harvard (Nov.08 +15).

Ashoka, the largest global network of social entrepreneurs and platform for those looking to enact change, is certainly well respected in the field of social innovation— being able to support such a program with topics that are close to my heart: youth engagement & design, was beyond humbling. 

Students who joined the Catapult program were high school age. It was fascinating to see these youth venture concept ideas and how much the students have dedicated their time and energy towards the project. The #Beverynice (volunteers from the verynice's network) team was on site working with individual group of students for the initial kick off branding workshop. As the students further develop their concept and their brand, I will continue my support by working with the students and creating logo/brand identity iteration for each team. I took the experience of working with these high school students and reflected on my own journey: I relocated myself here in the United States when I was high school age. It was an eye-opening, life-changing (and scared sh!tless) experience to live in a boarding school, readjusting to new language and culture, and being away— far-far away from family (they are literally across the planet from me as the time difference between EST and Taiwanese time are exactly 12 hours difference) Looking back, I didn't know anything about 'social innovation', 'social/impact design', 'entrepreneurship'— intact, my english level wasn't even at the level to understand these terminology even if I googled them. However, aside from my regular high school classes (and my cultural adjustment curve), I was a competitive equestrienne jumper. I spend all my after school hours at the barn hanging out with horses and poop...  With that, I'm happy to say I didn't have these brilliant social entrepreneurship concept like these Catapult kids, but... those days when I was in a saddle taught me everything about GRIT.

[jwendesign]

Aug.2014 | Annual Manhattan Circumnavigation

Ninety-eight sea kayakers participated in the nearly 10 hours, 30 miles paddling journey. 

I was contacted by one of my professors (whom I had a very close relationship with) about this opportunity to document this trip behind the lens, and I agreed to volunteer my time without any hesitation.  The journey for me started at 5am— getting camera equipment ready and travel to the designated site. I spent half a day on a 28ft coast guard safety boat, and the other half of the day on land to document a different view point. Turned out the shooting experience was  from 5am to 8pm— exhausting, but extremely rewarding! 

When the paddlers were done with their trip, this one older gentleman came up with me to introduce himself. He told me that he is 77 years old, and he has been participating the annual kayaking trip every year. He then shook my hand and thanked me for volunteering my time for the whole day... it was indeed a heart warming moment. With that, I have a lot of respect for him, and all the other participants who had the determination to accomplish such long mileage paddling trip. 

To see more photos from the trip, please click here! 

[jwendesign]

Aug.2014 | Capoeria Roda

Ever since moving to NYC, I've been doing a lot more personal photo work than ever before. To me, seeing the world behind the view finder brings refreshing perspective to my daily design tasks. Let alone NYC has so much happening at all time— it has been a great experience catching street photography as well as initiate a conversation with someone by offering free photo service: it is a wonderful way to meet new friends in the gigantic city. I met this Capoeria group at Bryant Park one evening after work. As soon as the drumming beat starts, I was able to identity that was Capoeria (from previous Brazilian culture and martial arts exposure)— I initiated the conversation with one of the Capoeiristas, and asked for their monthly gathering routine. Two weeks from that brief evening encounter, I went out to Brooklyn Museum on a Saturday Morning and did this shoot for the group. Great people & wonderful energy. 

To see more photos from the shoot, click here! 

[jwendesign]

Mar.2014 | TEDxBaltimore 2014 • Pioneers o' Pioneers! 

Among all the amazing inspirational individuals— Margarita Anderson & Molly McGrath Tierney's talk stood out to me as they touch on the topic of racial equality & child welfare. I purchased Margarita' book "Our Black Year" during intermission and had a chance to chat with her about her experience on her research. TEDxBaltimore is such a humbling experience. 

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Margarita Anderson is a leader of the conscious consumerism movement uniting consumers, corporations, and the quality Black businesses that can rescue struggling communities and provide role models to Black youth. She’s the author of “Our Black Year: One Family's Quest to Buy Black in America's Racially Divided Economy.”

Molly McGrath Tierney is the Director for the Baltimore City Department of Social Services, managing the City’s child welfare and public assistance programs. Over the past six years, she has led a massive reform effort to dramatically improve the impact of services to vulnerable citizens of Baltimore. Molly’s work is considered a national model for modern social services.

[jwendesign]

Mar.2014 | Thesis Project, information for internationals. Weekly research board pin-up & UX/UI sketch book moment.  "good design is a lot like clear thinking"—Edward Tufte 

[jwendesign]

Mar.2014 | Baltimore City Ain't Breaking Hearts Some recent articles floating around the internet started a while discussion about Baltimore City and its struggle. After reading various responses online, discussing the topic with many other critical thinker friends— I take my stand with the following quote:

Crime is not 'the elephant in the room'; the elephant in the room is inequality. 

Baltimore City will forever hold a special place in my heart. It is a beautiful city with its very unique raw energy. Some corners and blocks might not be so polished— but, the city, and people, the vibe have taught me so much and allow me to see a whole another perspective in the day-to-day life. Nonetheless, despite the controversy and debates on Baltimore City— I think it is a good sign that people are expressing their option towards this piece of land. As always, conversations leads up to something bigger.... I am not talking about 'change' as of the stereotypical gentrification, but rather, more attention and awareness of the difference voices within the Baltimore community itself. 

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Links to some interesting reads on the topic,

"Baltimore City, You Are Breaking My Heart" by Tracey Halvorsen

"Whose Heart Is Baltimore Breaking, Really?" by Lawrense Lanahan

"Too Poor For Pop Culture" by D. Watkins

[jwendesign]

Mar.2014 | #ThinkBig Post-It session for National Wildlife Federation's Grow Wild Baltimore Campaign.  Project was done during my participation at MICA Center for Design Practice.  Note: Center for Design Practice (CDP) is a multi-disciplinary, social design studio dedicated to preparing the next generation of creative changemakers. The program brings MICA students from different disciplines together with faculty and outside partners from government, nonprofit and business sectors to collaborate on the development of innovative solutions to complex social problems. The CDP program was the winner of 2014 Ashoka U-Cordes Innovation Award.

[jwendesign]

Mar.2014 | Parkway Theater Exterior Signage Proposal

The Parkway Theatre (Baltimore, MD) was built in 1915 at the corner of North Charles Street and North Avenue. The theatre was in business, but struggled, from the 50s to the 70s. and it was finally closed in the mid 1970s. Recently, the Maryland Film Festival Council has purchased the theater from the Baltimore City. The Parkway Theatre is now ready for a renovation to not only support the Maryland Film Festival events, but also develop a greater interests and attraction to the Station North Arts District here at Baltimore. 

The Parkway Theater is aiming to reopen in 2016— it surely is an exciting news for the Baltimore arts and culture community. I did this concept proposal project during my study at Maryland Institute College of Art (MICA) in early 2014. Thanks to my previous training in environmental design and former internship experience at CannonDesign— I was able to come up with a proposal with site analysis, concept sketches, various 3D perspective rendering.  To view the full proposal, please visit jwendesign.com

[jwendesign]

Feb.2014 | Pictograms for JWenDesign:  a certified scuba diver, a competitive equestrienne,  a martial arts practitioner, a designer, and a world traveler.