Insight

4 Essential Benefits of Design Thinking for Your Business
Dr. Agus Setiawan

PhD Graduate and result-oriented Director with 25 years experience with involvement in all levels of Business Strategy, Sales and Marketing, Managing Project and Product Development. Aside of managing a company, he is also the best corporate trainer and public speaker in seminar and conference.

4 Essential Benefits of Design Thinking for Your Business

One of the solutions that can help organizations to approach digital transformation with the right mindset might be design thinking. Design thinking helps businesses to be better in identifying, understanding, and addressing the problems that plague businesses and customers. It values solutions over processes, as well as creativity and innovation over traditions. Furthermore, here are some benefits of design thinking, namely.

Fosters Creativity and Innovation

Businesses often fall into the trap of internally creating ideas that are just incremental improvements on existing products and services. Incremental improvements are fine, but they can leave a business at risk of being disrupted from the outside. Design Thinking engages creativity through a process designed to surface truly innovative ideas and then test them quickly.

Reduced Risk of Launching New Ideas

Design Thinking focuses on showing prototypes to sponsor users early and often. This ensures that new ideas stay on a course that will actually meet user needs, while reducing risk and cost of bad ideas. The end result is product launches backed by more data and imbued with more confidence.

Improves Customer Retention and Loyalty

Design Thinking ensures a user-centric approach, which ultimately boosts user engagement and customer retention in the long term. The goal is to develop useful products and solutions that fit the needs of the user, to see where their frustrations lie and how we can make their lives and experiences better and more fulfilling.

More Revenue and Returns

A recent McKinsey study identified significant financial benefits of a human-centered design approach: 32% more revenue and 56% higher total returns. This extensive study goes to show that there can be a significant financial, measurable outcomes and ROI that result from a consistent Design Thinking approach to business.



Conclusion

By understanding these benefits of design thinking for organizations, it will be beneficial for business to create an excellent experience for the customer, to remain competitive, and to drive business growth which could improve overall organizational efficiency and productivity.

Reference:
Müller-Roterberg, Christian. (2018). Handbook of Design Thinking.
(2021). Retrieved 1 September 2021, from https://www.mckinsey.com/business-functions/mckinsey-design/our-insights/the-business-value-of-design

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