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Design Thinking for Business Model Innovation

avathar By Srushti Malunde
date 1st February, 2022

Business Model Design

Digital Business Transformation

Business Model Evolution

New Revenue Models

The world is evolving at an ever-growing right to change. The rise of economies, emerging technologies such as IoT, and the commoditization of knowledge are driving changes in the way we work. While forcing businesses to reinvent business mottos and the methods, they use a creative design and human-centric solution approach.

Complex problem solving has emerged as the top skill in this list. Business models seek professionals with the ability to unpack the problems and successfully navigate to a solution that isn’t necessarily obvious to the naked eye. Design Thinking has come into force with a discipline that many believe, will help businesses to solve complex problems.

Where is this new wave of Design Thinking seed, when lined up against the traditional disciplines and definitions of design?

The Design Thinking approach is based on the type of problems being solved. Traditional design techniques focus largely on the 1st and 2nd orders of design. The first-order deals with graphic design and visual representation while the second-order deals with physical solutions and industrial designs like mobile apps.

The third and the fourth-order of design thinking leads to complex problems where experiential and strategic design comes into play. These complex problems need to address services and large-scale issues which require a deep understanding of the needs of the customers and deliver more value and successful solutions.

For many designers, this is a fundamental shift from a fixed mindset to a growth mindset. To solve complex problems, designers tackle traditional and linear ways of thinking about the problems and find ways to solve them.

Design Thinking Model and Implementation

Design Thinking follows a six-step process. Embarking these steps into the businesses leads to embracing new situations and seeking profit growth opportunities in the market. Integrating solutions into the businesses through architecture and agile delivery ensures the successful incorporation of new products and services into business operations with a rapid rate of increase.

The six-step process used to solve real-time problems in the Design Thinking approach is

Prepare Stage: Designers get everything ready to start the design journey by understanding which problems are best suited to tackle using the Design Thinking process.

Discovery Phase: Designers focus on research and exploring the problems in more detail.

Definition Phase: Designers synthesize all the data and get insights, arrive at a validation point of view, and take it forward into ideation.

Develop Phase: Designers generate, concepts and rapid prototyping into test ideas.

Delivery Phase: In this stage, the prototypes are taken into the real world before refining and creating a final version of the product, that is ready for production.

Launch: Designers thoroughly know how the product or the solution is integrated into the existing operation, services, or product offerings of the businesses, and the customers, thus enabling the businesses to scale fast when required.

We at Inovar view Design Thinking as a deep-rooted approach to embark on resolving problems with tailored solutions that hold relevance for a wider scope of challenges than simply using the traditional design arena.