More than a feeling: Design practices to deliver business value
As design thinking nears its 50th birthday, many companies still struggle to realise value from design. Those that succeed often follow these best practices.
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AMAZON Prime. Apple iPhone. Netflix. Tesla. For those companies that get design right, the prizes are rich. The S&P 500 companies that invested most in design processes, capabilities, and leadership over the past decade, including design stalwarts such as Disney, Nike, and P&G, outperformed the rest of the index by 211 per cent.
The importance of design is only increasing. Consumers have instant access to global marketplaces and ever higher expectations of service. They no longer distinguish between physical and digital experiences. This makes it increasingly difficult to make your product or service stand out from the crowd.
We have begun to explore the underlying design practices that allow some firms to succeed above others. Our research into global companies across multiple industries aims to uncover the connections between business value and design. We see ten design actions across three themes that appear to correlate with improved financial performance.
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