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Business Design: The Formula for Success in the Design Age

CXO Today

October 19, 2021

Do businesses get a competitive advantage by combining design and customer experience? Is it worth the hype? Research shows that companies emphasizing design have fared significantly better than their peers who haven’t done so. 

The secret sauce is to combine business and design, popularly known as ‘Business Design.’ It helps define a business’ economics, which are two-sided—the money coming in and the money it takes to create it. Business Design has already become the new rage, and it is undeniably the next big thing. 

Where Business Design scores over Design Thinking

Business design is not the same as traditional or pure design thinking. Traditional design thinking aids in the creation of products that users adore. Business Design, on the other hand, is comprehensive. It assists organizations in developing a viable business model by quickly testing its riskiest assumptions against the market and designing products and services that thrive in the marketplace. 

From creating user-centric products and services to bringing a new spin to traditional or pure design thinking, ‘Business Design’ has the potential to develop viable business models and transform customer experience. Organizations can see significant benefits in the form of increased revenues from products or services, improved market positioning, higher customer loyalty, and fewer customer complaints. It also helps build a stronger brand identity for your company, faster time to market for new products and services. 

The author, Priyank Kapadia is Head, Digital Practice, Accolite Digital.

The article has been originally published in CXO Today.

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