DESIGNING FINANCIAL LANGUAGE 2010 EACUBO Annual Meeting 10/12/2010 William E. Mea, Fraser Marshall Ph.D., Justin Witman a story from the field
Jul 14, 2015
DESIGNING FINANCIAL LANGUAGE
2010 EACUBO Annual Meeting10/12/2010
William E. Mea,Fraser Marshall Ph.D.,
Justin Witman
a story from the field
Designing Financial LanguageToday’s Presentation
1. Introduction2. Initial Research3. First Prototype4. Re-evaluation5. Stakeholder Interviews6. Story Development7. Finding a Collective Purpose8. Having a Conversation9. Leaving The Picture
With over 2,400 students and 500 faculty members, The University of the Arts in Philadelphia is the first and only university in the United States solely dedicated to educating creative individuals in the visual, performing and communication arts.
Opening conversations with designMID@UArts
At MID@UARTSOur goal is not to isolate and solve problems. It’s to connect issues – and to connect people – in order to fully understand the challenges we face in a broader context.
Only then can we find innovative ways to inspire changes that are economically, ecologically and socially responsible.
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Language
finding a mate
fair compensation
creative initiative
basic human drives
confusionAuthority
Direction
Roles
Humans have three innate drivers that direct their lives. These are:To find and mate; to earn fair compensation for work and to excercisecreative initiative. However, in work teams, confusion over Language,Authority, Direction and/or Roles is detrimental to creative initiative.
HUMANTIC DESIGN The three drivers of human function
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Pink, D. H. (2009). Drive : the surprising truth about what motivates us. New York, NY, Riverhead Books.
Three drivesFINANCIAL LANGUAGE
Conventional Group Collaboration and Conversations
Language
abc
Authority Direction Roles
Language Authority Direction Roles
High cognitive load
Conventional group collaboration
Designed group collaboration
Low cognitive load
Anxiety
Anxiety
Confusion
Cognitive tools
Weak Collaboration
Strong Collaboration
Collaboration
Collaboration
FINANCIAL LANGUAGE
Bion, W. R. (1961). Experiences in groups, and other papers. London, Tavistock Publications.
Bion, W. R. (1948). “Experiences in groups.” Human Relations I-VI. Highhouse, S. (2002). “A history of the T-Group and its early applications in management development.” Group Dynamics-Theory Research and Practice 6(4): 277-290.
Designed Group Collaboration and Conversations
Language
abc
Authority Direction Roles
Language Authority Direction Roles
High cognitive load
Conventional group collaboration
Designed group collaboration
Low cognitive load
Anxiety
Anxiety
Confusion
Cognitive tools
Weak Collaboration
Strong Collaboration
Collaboration
Collaboration
FINANCIAL LANGUAGE
Carroll, J. M. (1991). Designing interaction: psychology at the human-computer interface. Cambridge England ; New York, Cambridge University Press.
Simon, H. A. (1981). The sciences of the artificial. Cambridge, Mass., MIT Press.
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THE UNITED STATES OF AMERICA
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$= 100K
Annual Budget411K
Annual Actual623K
Extra Surplus+212K
Creation of a New LanguageFINANCIAL LANGUAGE
Operating Revenue-804K
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+19KNet tuition andfees for credit
+79KAuxiliary enterprises
-207KNet tuition and fees
for Cont. Studies
-461KAnnual fund
-166KOther investment
income
Infographic PrototypeFINANCIAL LANGUAGE
-135KGrad assistants/student employment
+475KNo Jan 1st salary increase
+405KHiring freeze
+84KContinuing Studiessavings
+200KReserved funds from Operations/IT
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+Saved Expenses
+1016KOperating Revenue
-804K
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THE UNITED STATES OF AMERICA
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THE UNITED STATES OF AMERICA
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100100 100
100ONE HUNDRED DOLLARS
$
THE UNITED STATES OF AMERICA
100
100100 100
100ONE HUNDRED DOLLARS
$
+19KNet tuition andfees for credit
+79KAuxiliary enterprises
-207KNet tuition and fees
for Cont. Studies
-461KAnnual fund
-166KOther investment
income
Infographic PrototypeFINANCIAL LANGUAGE
-135KGrad assistants/student employment
+475KNo Jan 1st salary increase
+405KHiring freeze
+84KContinuing Studiessavings
+200KReserved funds from Operations/IT
THE UNITED STATES OF AMERICA
100
100100 100
100ONE HUNDRED DOLLARS
$
THE UNITED STATES OF AMERICA
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100100 100
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THE UNITED STATES OF AMERICA
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100100 100
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THE UNITED STATES OF AMERICA
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100100 100
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THE UNITED STATES OF AMERICA
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THE UNITED STATES OF AMERICA
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THE UNITED STATES OF AMERICA
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THE UNITED STATES OF AMERICA
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100100 100
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$
THE UNITED STATES OF AMERICA
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100100 100
100ONE HUNDRED DOLLARS
$
THE UNITED STATES OF AMERICA
100
100100 100
100ONE HUNDRED DOLLARS
$
+Saved Expenses
+1016KOperating Revenue
-804K
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100
100100 100
100ONE HUNDRED DOLLARS
$
THE UNITED STATES OF AMERICA
100
100100 100
100ONE HUNDRED DOLLARS
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$
THE UNITED STATES OF AMERICA
100
100100 100
100ONE HUNDRED DOLLARS
$
THE UNITED STATES OF AMERICA
100
100100 100
100ONE HUNDRED DOLLARS
$
+19KNet tuition andfees for credit
+79KAuxiliary enterprises
-207KNet tuition and fees
for Cont. Studies
-461KAnnual fund
-166KOther investment
income
Extra Revenue+212K
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100100 100
100ONE HUNDRED DOLLARS
$
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=
Infographic PrototypeFINANCIAL LANGUAGE
Presentation - all not happyFINANCIAL LANGUAGE
Phase 1developing language
Bill
CLIENTS
DESIGNERS
School Community
studioNEXT PresentationInfographics
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benefits?sabaticals?
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“I need the right language”
Phase 2refining language and developing the story
Bill GraphicDesign
Prototype 1 Co-design Prototype 2
FacultyCouncil
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“we want more story”
“graphics needwork”
Phase 1developing language
Bill
CLIENTS
DESIGNERS
School Community
studioNEXT PresentationInfographics
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100100 100
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THE UNITED STATES OF AMERICA
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100100
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benefits?sabaticals?
THE UNITED STATES OF AMERICA
100
100100 100
100ONE HUNDRED DOLLARS$
THE UNITED STATES OF AMERICA
100
100100
100ONE HUNDRED DOLLARS$
“I need the right language”
Phase 2refining language and developing the story
Bill GraphicDesign
Prototype 1 Co-design Prototype 2
FacultyCouncil
THE UNITED STATES OF AMERICA
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100100 100
100ONE HUNDRED DOLLARS$
THE UNITED STATES OF AMERICA
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100100
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“we want more story”
“graphics needwork”
ProcessFINANCIAL LANGUAGE
Phase 1developing language
Bill
CLIENTS
DESIGNERS
School Community
studioNEXT PresentationInfographics
THE UNITED STATES OF AMERICA
100
100100 100
100ONE HUNDRED DOLLARS$
THE UNITED STATES OF AMERICA
100
100100
100ONE HUNDRED DOLLARS$
benefits?sabaticals?
THE UNITED STATES OF AMERICA
100
100100 100
100ONE HUNDRED DOLLARS$
THE UNITED STATES OF AMERICA
100
100100
100ONE HUNDRED DOLLARS$
“I need the right language”
Phase 2refining language and developing the story
Bill GraphicDesign
Prototype 1 Co-design Prototype 2
FacultyCouncil
THE UNITED STATES OF AMERICA
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100100 100
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“we want more story”
“graphics needwork”
ProcessFINANCIAL LANGUAGE
“Speak about restoration, not gifts”
“It would be great to use the Faculty Council as a sounding board”
“We need a clearer distillation method for financial information”
“More of a dialogue, even if we cant change the reality of the numbers”
“It would be great to have a full picture of the options”
Bill Larry Anna
DetailsClarity
SensitivityAcknowledgementPrioritizingAwareness
DeliveryMethodologyDetails
DeliveryMethodologyClarity
DeliveryMethodologyAesthetics
DeliveryMethodologyClarity
Jack Mary Peter Amy Sara
Faculty CouncilFacultyFinance Staff Council
Anxieties and NeedsFINANCIAL LANGUAGE
Accountancy AdministrationDesign Liberal Arts Film + Media
Phase I
an incomplete story questions about the storyPragmatic(visual language)
infographics
Pragmatic(visual language)
infographics refinement
contentprioritytoneawarenesssensitivityacknowledgement
Psychology(verbal language)
Phase 2
+ conversation about the story
a more complete story
Story DevelopmentFINANCIAL LANGUAGE
Creating a shared storyFINANCIAL LANGUAGE
Talking about money can be emotional and stressful.
Design helped stakeholders have a conversation to find collective financial interests deemed most important for discussion.
FINDING COLLECTIVE PURPOSE BETWEEN FINANCE & FACULTY
Strong Interest
SEEING EYE TO EYE
THE BIG PICTURE
Agree
28%Similar65%Difference
7%
Agree
14%Similar14%Difference
72%
Agree
11%Similar22%Difference
67%
9/22
9/22
Slight Interest No Interest
SEEING EYE TO EYE SEEING EYE TO EYE
Results of a meeting between the Finance Office CFO at The University of The Arts & the Faculty Council head. The goal was to identify points of common interest to aid in creating a more democratized dialogue about finances.
Each group was given 22 cards with topics pulled from interviews.They were then asked to prioritize Interests and find common threads.
COLLECTIVE AGREED & SIMILAR INTEREST 93%
WHERE THE CARDS FALLFaculty Council
Finance Office
41%
41%
9/22
7/22
WHERE THE CARDS FALLFaculty Council
Finance Office
41% 4/22
6/22
WHERE THE CARDS FALLFaculty Council
Finance Office
18%
27%32%
• TRANSPARENCY OF INFORMATION
• MORE VISUAL COMMUNICATION
• FEELING AS IF THERE IS A LACK OF TRUST
• INFORAMTION ABOUT INSTUTUTIONAL HEALTH
• IMPORTANCE OF A DIALOGUE
• COMMUNCATION IS OFTEN PERCIEVED DIFFERENTLY
This created CFO level understanding of stakeholder experience. We subsequently designed information that encouraged shared conversations.
Moving ForwardKeeping the conversation open
INTERVIEWEDCOMMON GOALS
past present future
RELATIONSHIPSCONVERSATIONSBUILDING TRUST
FRASERJUSTIN
BUILDING TRUSTCOLLABORATION
SELF-SUFFICIENCY
NEW DESIGNERS+ STAKEHOLDERS
Design can provide an innovative method to help overcome the challenges of financial communication.
To communicate effectively, a shared language is a must. However, it is also important to consider the underlying psychology that occurs during financial discussions.
Key to this process is the creation of tools that can be used to reduce the anxiety of “talking money”, allowing a more open, productive and successful conversations.
FINANCIAL LANGUAGESummary points