Business Design means using "Design Thinking in Business". It involves Problem Recognition, Problem (2) Designing the next-generation offering for companies.
ABOUT BUSINESS DESIGN
Innovation is hard because "solving problems people didn't know they had" & "building something no one needs" look identical at first.
- Aaron Levie, CEO at Box
Whenever a company designs a new product, service, or experience, it is essentially designing its business. When done well, Business Design creates offerings that inspire organizations
and excite customers. It combines design thinking and traditional corporate strategies to help companies create avenues for market growth. By shifting focus from linear practices to iterative processes, we can shed light on new options and explore the various alternatives. The methods include qualitative and quantitative research, ethnographic mapping, business model prototyping, financial management, data visualization, organizational design etc. Business Design can help address a broad range of challenges, such as –
(1) Deep diving to identify underlying, and many times unstated, market needs and opportunities. (3) Creating specific strategies and new product development for businesses. We believe that every part of a business can be prototyped, including projected financials. Thus, even as part of our curriculum we design all the way to market, iterating potential solutions from initial concept through final consumer delivery. We look at innovations across industries to find inspiration and viable new patterns of thinking and operating. The Business Design methodology begins with an understanding of what customers really need. This is followed by a broad exploration of new solutions and culminates with a business strategy that creates competitive advantage. A leader always searches for change, responds to it, and exploits it as an opportunity.."
- PETER DRUCKER
