Page 104 - Transforming an Idea Into a Business with Design Thinking
P. 104
S tage 3: Craft Business to Know Viability ◾ 83
macroeconomy. At the smallest level, the neighborhood, the commu-
nity and city and, on the larger level the county, state, country and
beyond are influenced by numerous trends, including political climate,
environmental changes, economic situation and demographic trends.
In addition, your business model may also be affected by evolving
demographic trends which includes behavioral expectations of various
demographics. Understanding these short-term and long-term mac-
roeconomic trends will help you craft a business model that is more
sustainable.
◾◾ Others, including regulatory environment. Beyond the ones just men-
tioned, there could be several other local or global trends that might
be of relevance to your business model. Thinking about any trend that
might impact any aspect of your business model helps you be better
prepared in warding off unexpected obstacles.
5.1.1 Business Context Template
Use template in Figure 5.1a to explore the business context for your idea.
Figure 5.1 (a) Business context template.
