Design thinking and business model adaptation

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All the greats of science, management, or art were design thinkers, and they did not necessarily have a designer’s credentials. It is the way of solving problems innovatively. The creative approach to reworking a problem extracts it from conventional solutions, and steer out a non-traditional way of solving it.

Design Thinking is a name given to an alternative approach adopted by designers around the world to start thinking “out of the box” in a professional non-redundant style. This approach is now part of University curriculums worldwide. Global organizations, such as Google, Apple, and Samsung, adopt Design Thinking as a Business Model. Stanford and Harvard’s graduates are studying it, and it has become a popular concept lately.

Many organizations are transforming their decision making process and other business models to make it compatible with Design Thinking. Businesses are applying this strategy to improve their market positioning, multinational branding, customer perceptions, and reshaping consumer experience. Design Thinking is not to be confused with AI (Artificial Intelligence). The idea behind this systemic approach is to centralize around human beings. Organizations want a real person to use vivid imaginations based on prior experience to define a strategy, bring up innovation, and meet new challenges.

Take advertisements, for example. Designs should attract the customer’s attention, but it must also create a bond between a brand and a consumer. This approach to marketing is a result of Design Thinking. To make a message meaningful can be as simple as changing the location of a billboard. The public tends to stop looking at the ads they see on the exact spots every day. A design thinker could study the audience’s patterns and develop a strategy to “assist” a customer to look at the company’s promotional materials.

Enterprises, who have adopted the business model of innovation and design thinking, have had a rapid increase in sales. The primary reason for business growth is that the strategy uses consumer-based, empathizes with clients, and addresses the emotions of customers. The first stage is to identify the needs and problems of customers and turn them into opportunities for business growth. It is not about being a rebel against traditional methods. The alternative approach is used to challenge them in a healthy environment. Once the solutions are created, those are implemented after successful test runs.

Many researchers, deemed necessary to break the chains of conventions, consider business Model Adaptation. However, a study shows the negligibility of vague adaptation of business models. If an enterprise is going with Design Thinking, they must ensure the integrity of the thought process, a systemic approach backed by surveys, to deliver long-term results. The Design Thinking approach to Business Model adaptability is a success story if all cards are played right.

 

 

 

Sources:

Definition of Design Thinking

Design thinking by Hindu Business Line

Liu, Rebecca & Mannhardt, Luca. (2019). Design thinking and business model innovation.

The popularity of Design Thinking

Business Model Adaptation by Balboni and Brotoluzzi

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