When you apply design principles to innovation and strategy, it drastically improves the success rate for innovation. Many Design-led industries have outshined the S&P 500 over ten years remarkably by 211% as recorded by the Design Value Index 2015 established by the Design Management Institute and Motiv Strategies. A great design carries an oomph factor that makes the services of the products more desiring and appealing to the users.
The old top-down corporate strategy model is no longer effective. It frequently misaligns companies, provides flimsy, generally ignored guidance, and fails to follow through. Senior executives immersing themselves at a strategy retreat, developing a vanity deck, and expecting it to fit in when they return seems outdated. You can call it an elaborating affair, but it does not help change complex circumstances.
Design is a formal response to a strategic question. – Mariona Lopez
However, when Design comes into the picture with reimagining strategy, it is transformative that helps leading industries create value. It has changed the definition of innovation, and now it has become design-driven from being engineering-driven. It is user-centric, and user-experienced focused. An increasing number of CEOs now take Design Thinking as the core of organizational change and strategic development.