Deepak Wadhawan + 91 9818 020 587 deepakwadhawan@yahoo.com Applying Design thinking to facilitate disruptive innovation to achieve business objectives – a note for the internal auditor Deepak Wadhawan + 91 9818 020 587 deepakwadhawan@yahoo.com

Content Assess the impact so far from digital intervention in your company Using design thinking for transformation projects Internal Auditor to be an Assessor for business transformation projects – areas to focus upon

Assess the impact so far from digital intervention SEE HOW YOUR SCORE COMPARES WITH YOUR PEERS Developed by Genpact's Research Institute, this diagnostic helps you explore your organization's ability to derive real impact from digital interventions and visualize your results against a benchmark of your peers. http://ratio.genpact.com/

Using design thinking for business transformation projects Design thinking refers to creative strategies designers utilize during the process of designing. Design thinking is also an approach that can be used to consider issues and resolve problems more broadly than within professional design practice, and has been applied in business and to social issues. Design thinking in business uses the designer's sensibility and methods to match people's needs with what is technologically feasible and what a viable business strategy can convert into customer value and market opportunity. For further reading https://en.wikipedia.org/wiki/Design_thinking

How does your company plan to use digital agility in areas as Social Media,etc. HOW OTHERS ARE USING SOCIAL MEDIA To win elections By teenagers to let the world know every second as to what they are doing As a bulletin board to get a subject matter community get regular updates By students to disrupt current beliefs & thinking To garner funds through crowd funding DOES YOUR COMPANY WANT TO APPLY SOCIAL MEDIA TO ACHIEVE BUSINESS OBJECTIVES Increasing revenue Improving customer satisfaction & loyalty Recruiting & retraining best talent Product development & innovation Enchancing brand awareness & perception HOW IS YOUR COMPANY USING SOCIAL MEDIA OSTRICH TYPE APPROACH ME TOO APPROACH RISK & REWARD APPROACH HOW DOES YOUR COMPANY WANT TO USE DIGITAL AGILITY IN SOCIAL MEDIA While doing an assessment on how digital agile is your company’s social media initiative, internal auditors should ask for an internal document that compares the value that social media can bring to your company both in a traditional way and by the use of disruptive innovation ( digital agile approach)

Areas to focus upon while assessing Business Transformation projects Comparison between Design thinking & Process improvement The difference is forming disruptive innovation & technology as the basis and then drawing up the processes Understanding /applying disruption abilities of technology results in innovating Business models, finding new ways process teams work, etc. Impact areas The internal auditor should look for impact (planned/actual) to Business models, new ways process teams work, new ways to interact with customers, suppliers, etc.

Keep it simple Deepak Wadhawan FCA,CPA,CIA Chief Executive, The Institute of Internal Auditors – India Member, Global Executive Leadership Team, IIA Global Member of the Board of Directors, All India Heart Foundation Currently on CGA engagement for strengthening internal audit in Central Ministries of Govt Of India