Review our creative solutions made from design and systems thinking in New York, NY.
New Thinking Required
In theory, theory and practice are the same, in practice they are not...
The End of (Modern Finance) Theory...
During a visit to the London School of Economics as the 2008 financial crisis was reaching its climax, Queen Elizabeth asked the question that no doubt was on the mind of many of her subjects: "Why did nobody see it comong?" The response, at least by the University of Chicago economist Robert Lucas, was blunt: Economics could not give useful service for the 2008 crisis because economic theory has established that it cannot predict such crises. As John Kay writes, "Faced with such a response, a wise soverign will seek counsel elsewhere." And so Might we all.*
*Hat Tip ~ Richard Bookstaber, The End of Theory
Design & Systems Thinking in New York, NY
Introduction - Institute for New Economic Thinking
Design thinking is a formal method for a practical, creative resolution of problems and formation of solutions with the intent of an improved future result. In this regard, it is a form of solution-based or solution-focused thinking, starting with a goal (a better future situation) instead of a particular problem. By considering both present and future conditions and parameters of the problem, alternative solutions may be explored simultaneously.
This approach differs from the analytical scientific method, which begins with thoroughly defining all the parameters of the problem to create a solution. Design thinking identifies and investigates with known and ambiguous aspects of the current situation in order to discover hidden limitations and open alternative paths that may lead to the goal. Because design thinking is iterative, "intermediate solutions" are also potential starting points of alternative paths, including redefining of the initial problem.
Perhaps the most successful learning technique we are taught as we are growing up is the method of analysis by decomposition. This is when we break complex things down to the level where we can understand the individual parts. This works for many things, but for dynamic systems, particularly those that involve humans, the usual effect is to squeeze out some of the most important features.
Systems thinking is an approach that draws attention to connections among the parts. It particularly focuses on how the elements of a system feedback to one another, both creating extraordinary patterns of growth (amplifying feedback), and providing ways to control the system (regulating feedback).
Integrative Thinking / Integrative Complexity
Integrative complexity is the ability to develop and hold opposing traits, values, and ideas then integrate them into larger ones.
The prize goes to the one who can imangine a future that is different from the past... Star Trek, The Fourth Industrial Revolution, Amazon, Facebook, Apple...
Combinatory Play... Design Thinking Meets Systems & Futures Thinking
The 3-Body Problem...
If you're already familiar with systems thinking, but new to design thinking, you might find it equally valuable to explore the methodology. Systems thinking, in spending so much time analyzing what is and how it works, can sometimes get bogged down in the present tense. It's often used in fields where the goal is to better manage risky or threatening issues, such as conflict resolution, safety, reliability, and environmental sustainability.
By combining design thinking with systems thinking, we might create a hybrid discipline where conflicts are more often resolved through innovation, rather than incrementally improved; where we manage difficult issues by designing completely new solutions that are win-win for all the players in the system.
It's a marriage made for innovation.
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