Discovery Driven Planning
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Considering the reading on Discovery Driven Planning, how would you know whether the assumptions you've made in my business are faulty or correct and to what extent?
How can you assess whether the data are valid or reliable?
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Solution Summary
Discovery-driven planning can help to identify and test assumptions that managers have about the business, particularly in uncertain or unfamiliar environments. For example, when you first open a fast food business in another country (i.e. McDonald's), it assumed patrons would move in and out quickly as customers did in other parts of the world. But the first customers preferred to savor the foreign experience, and managers ultimately have to expand the size of the restaurant. In order to know whether or not assumptions made are faulty or correct, you must first identify and track assumptions about customer turnover and explicitly assess their impact on the business through tools such as a "reverse income statement. Managers can use discovery-driven planning to recognize and respond to such surprises and failed assumptions more quickly.
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Discovery-driven planning can help to identify and test assumptions that managers have about the business, particularly in uncertain or unfamiliar environments. For example, when you first open a fast food business in another country (i.e. McDonald's), it assumed patrons would move in and out quickly as customers did in other parts of the world. But the first customers preferred to savor the foreign experience, and managers ultimately have to expand the size of the ...
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