5C Framework - I in Formulating Hypothesis

Till now, you have had a basic idea of how to use frameworks to form hypotheses. You have seen the issue tree framework and the 4Ps of marketing. In this segment, you will learn about the 5C framework. For this purpose, you will again use the problem of revenue returns from the previous lectures and try to formulate different hypotheses for the issue.

With the help of 5W, 5 WHYs and the SPIN framework, you would have developed some understanding of the problem and the company. However, this information will not be sufficient to formulate hypotheses. For that purpose, Amit discusses more details about the project and the company. In this video, he tries to explain the lifecycle of a project at the IT consulting firm.

All the projects at the firm follow the same typical path. The understanding of this flow will help you to identify the potential areas where things can go wrong. Apart from the flow, you should also be aware of all the teams involved in the process, along with what their role is in the firm. The video below helps you understand the personas involved here.

The points mentioned above will again be the outcome of your self-research or the interviews with the people from different teams. You are now equipped with the following knowledge about the problem:

• The problem that the IT consulting firm is facing - Revenue returns more than 20%
• 5 W’s around the problem (Refer to the previous session)
• 5 WHYs (Refer to the previous session)
• SPIN selling framework (Refer to the previous session)
• The lifecycle of a project at the firm
• Different personas involved in a project

NOTE: When you  try to understand different business problems yourself, you would need to find information similar to what you have learnt in this segment through research and by interviewing different internal as well as external customers 

Now, the next step is to identify possible problem areas by asking questions. The constraint here is to cover all the domains of the problem, and for that, you need a framework which in this case is '5C'. The 5C framework is covered in the next segment.