THE BOTTOM LINE
IDENTIFY WICKED PROBLEMS
Ruchitha Perera explains how to dissect wicked problems in the ‘new normal’
As businesses contend with the ramifications of COVID-19 that continues to pound the triple bottom line, economies are reeling and many organisations are struggling without adequate solutions.
A few have found the holy grail of achieving exponential growth in these uncertain times by identifying and acknowledging the ‘wicked problems’ that cloud over their businesses.
Wicked problems are ill-defined by nature, involve various power sharing stakeholders – and they are misunderstood until a solution is found. There is no singular solution and their continuous morphing makes them organic, requiring organisations to be agile and innovative in designing solutions.
Business solutions must be fluid, and have the flexibility and sustainability to charter a course less travelled. Customer experience must be at the core of the solution being designed – in fact, it must be the beginning, middle and end.
As for the most common wicked problems and solutions in the ‘new normal,’ lacklustre markets seem the norm. Stimulating retail spending appears a herculean task with the holiday season close at hand.
Retailers are among the hardest hit and desperate to have a semblance of an upswing in sales forecasts. But they must look to rework marketing strategies to yield returns and make strategic alliances with related products or services that were once shunned because no one wanted to share the pie.
In the present climate, strategic alliances may help avoid a blue Christmas and transform retail anxiety into retail therapy.
The negative impact has challenged organisations to spread losses due to months of shutting down active operations to remain afloat. Cutting costs for nonessentials, applying for government bailouts and increasing cash flow are worthwhile considerations. Negotiating with suppliers to cut or minimise deliveries and disposing of nonmoving stock through discounts are other possible solutions.
Stagnant product awareness appears to have organisations scrambling to find ways to make customers aware of products and services in a more innovative way.
Conventional marketing campaigns won’t work in this climate; to stand out from the advertising clutter, businesses should use influencers, and step up with Twitter and other popular social media. Needlessly throwing money at advertising must be reeled in through purpose driven brand awareness.
The financial burden of repositioning or redesigning capital and financing, to withstand the uncertainty and survive the gradual recovery, is significant. As traditional resilience will not work, businesses must pursue less conventional sources of financing and look for alternative means.
Low morale definitely needs attention. While job security cannot be guaranteed in the present climate, organisations must encourage employees by making them feel that ‘we can make it through together.’ Now is the time to listen to ideas bottom-up and change how employee interaction is designed, to encourage team members to share their thoughts and stay connected with peers.
Moving forward, organisations need to take a leap of faith and apply the golden solution; the value driven asset, which is human capital, needs to be realigned and reengineered to bring businesses out of the uncertainty of wicked problems – and create sustainable operational protocols to garner profits rather than merely surviving.
To protect, nurture and grow this value asset, we need to use a brand-new canvas instead of the old adage of ‘back to the drawing board.’ All too often, organisations define their people and style of working. The time is right to turn the tables and reach out to people.
Have we discovered, understood and utilised the almost kaleidoscopic abilities, behaviours and skills of our human capital?
As frustrating as people’s behavioural traits can be, they are also fascinating – and given the right environment, and a safe space to think and express themselves, their problem solving skills are infinite.
To dissect wicked problems, businesses must shift their focus of innovation from an engineering driven to a design led approach. There must also be a transformation from product centric to customer focussed and from marketing focussed
to user experience driven.
These shifts transform the way business leaders adopt strategies for organisational change. Moreover, if value driven assets are applied innovatively, it can transform the way a business creates value, thereby overcoming challenges posed by the pandemic.
Businesses must cultivate creativity and innovation, to boost user engagement and customer retention in the long term. Empathising with the wicked problems faced by customers will enable businesses to continue to save money.
Additionally, implementing a user centric approach would generate a reasonable ROI, leading to improved customer retention and loyalty to prepare for wicked problems that surface from time to time.
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