The US and in many countries across the globe is facing a pending challenge in an aging population, falling birth rate and economic recession caused by the coronavirus pandemic. These issues will have huge implications on the size of the workforce and the consumer base with ramifications on a global basis.
Your team has been hired by a global private equity firm to investigate the implications of an aging population, isolate a problem area, and propose a compelling product or service that they can invest in. The assumption is that they are willing to invest in projects that are “long term bets” but they must have compelling insights, data and strategic plans in order to make these investments. They want an innovative solution, something that isn’t just an extension of the past. Your mission is to deliver these insights, data and plan.
In order to succeed you need to dig deep into the societal, economic, environmental and technological contexts to identify the underlying problem(s). In particular, your client (the global private equity firm) is interested in learning about global market trends and opportunities related (but not limited to):
- Life expectancy and health care
- Transfer and consolidation of wealth
- Movement of people, including immigration
- Connection to external environment
- Future of work
- Future of retirement
- Consumer behavior
The Trends Matrix is a high-level summary of the trends that you are exploring and how they impact your project. The Trends Matrix can also show how trends happening in one area may have influenced others. You may submit from 1-3 Pages of the Trends Matrix, giving you a chance to explore different trends or dimensions.
Then use the Opportunities Map as a way to start thinking about how these trends can show opportunities and challenges in the future. We will look at this twice – once in this (A3) assignment at a high level and once as part of the A4 assignment in more depth. For this assignment (A3) I will not be emphasizing the Opportunities Map in grading but please include a single diagram showing how you are starting to make sense of the trends you are seeing.
From here, you will write an Intent Statement that outlines your initial intentions for the work you are undertaking.
Be sure to refer to Chapter 1 in 101 Design Methods to structure your work. What are the dimensions for your matrix? What are the relevant trends and how do they compare to one another? Define a high-level overview of changes. Include your insights about trend patterns and possible impacts and future directions.
The Intent Statment will begin to provide structure to your work and should outline:
– What is the problem and how does it relate to the overall future challenge?
– Who is the customer?
– What are their needs?
– What are the opportunities?
– What new values can be created?
A well-constructed submission will thoroughly address the trends and your intent for the project. You will also outline the approach that you will take in developing your Research Plan.