Impact Lab Problem Solving

TOSCA

A simple problem solving framework to help facilitate the development of the core question.

Trouble

What makes this a problem?

Identifying the root of the problem, understand the why, identify pain points, insufficiencies, or obstacles.

Owner

Whose problem is this? Determine who owns the problem or who is responsible for addressing it. This involves identifying the individual or group that has the authority and accountability to resolve the issue.

Success Criteria

What does success look like? Establishing measurable outcomes and objectives that indicate whether the problem has been effectively solved.

Constraints

What are the limits on measures taken for solutions? Constraints refer to the restrictions or limitations that affect the possible solutions to a problem, including resources, time, and policies that must be considered during the problem-solving process.

Actors

Who has a say in the way we solve this problem? Actors are the individuals or groups involved in the problem-solving process, influencing decisions and outcomes based on their interests, roles, or expertise. Who will our solution effect?

How TOSCA compares to other frameworks?

Broad range of application compared to 3C’s, 4P’s, and Porters Five Forces. It is also precursive to the process than other frameworks (bullet proof problem solving).

How is TOSCA similar to other frameworks?

breaks down problem in a structured way

clear goals set with the success criteria

Recognizes constraints in the problem solving process

Gives responsibility to the actors to execute the plan.

Cost Benefit Analysis

systematic approach used to evaluate the economic worth of a project, decision, or policy by comparing the cost involved with the benefits it will generate. It helps decision-makers determine the best course of action by weighing the total expected costs against the total expected benefits.

CBA Example

Buying a car

• the cost of a car include gas, insurance, and maintenance

• the benefits include convenient transportation and saving time.

How does CBA fit into problem solving

problem identification

• starts with clearly understanding the problem

Evaluating options

• provides as systematic way to compare options based on overall impact.

Decision making

• helps make informed decisions by providing a clear representation of tradeoffs.

What is unique about CBA

Involves balancing requests from multiple sources

Helps avoid over commitment

Helps Develop a strategic “no”

Helps maximize the impact of “yes”

How CBA compares to other frameworks

Works really well with SWOT analysis, noting potential improvements from a purchase.

Also fits in well with 3C’s

3C’s

a basic form of analysis used to create a marketing strategy. It is a framework used to ask questions which define a company’s niche in a market and identify existing advantages that can be used to be more competitive.

What are the 3Cs

1) Customer

2) Company

3) Competition

Customers

step 1: identify your primary customer

step 2: understand your primary customer values

step 3: allocate resources to win

• low price

• local value creation

• global standard of excellence

• dedicated service relationship

• expert knowledge

step 4: make the control process interactive

• be ready to adapt and change based on customers

Company

Being aware of the company’s position.

• unique selling proposition

• mission and vison

• competitive advantage

• Resource, capabilities and limitations

Competition

Direct Competitors: offer similar/identical products/services in the same market, same customer base. (ex. Netflix vs Hulu)

Indirect Competitors: solving same problem but different product/service. (ex. taco bell vs subway)

Replacement Competitors: offers alternative to your product/service, solve same points but different means. (ex. restaurant vs. coffee shop, smartphone vs digital cameras)

Porter’s 5 Forces

allows businesses to analyze their competitive environment, specifically forces they face. It is used to understand a companies threats and create an organizational strategy. It determines which force is the greatest threat to profitability and creates risk management skills.

Threat of New Entrants

potential new competitors have when it comes to entering an industry.

(brand loyalty, access to distribution channels, economies of sales, regulations, capital requirements, switching costs.)

Threat of Substitute Products

degree to which products or services can replace current offerings in the market. A high threat substitute means that customers can easily switch to alternative products, creating competition among companies. This is good for the consumer because it forces businesses to offer lower prices and keep quality standards in order to get customers.

Bargaining Power of Suppliers

How much influence suppliers have over the price in an industry. Fewer suppliers means more control over price.

Bargaining Power of Customers

powerful buyers can influence prices, demand higher quality or better services, and generally push for lower industry profitability by leveraging their bargaining power.

Competitive rivalry

looks at number of rivals, strengths of rivals, and how quality of products compare in an industry.