Stories | Perspective
Why Good Design Is Good Business
10 Nov 2020 · 25 mins min read
10 Nov 2020 · 25 mins min read
Did you know that design has helped companies achieve almost 32 per cent higher in revenue and 56 per cent higher total returns to shareholders than their industry peers? This insight was revealed in a study done by McKinsey & Company with 300 publicly listed companies over five years.
In partnership with McKinsey Design and supported by the Economic Development Board (EDB), DesignSingapore Council (Dsg) has launched the Business Value of Design (BVoD) programme to help companies identify how they can use design to unlock value and improve their organisations through a human-centred approach.
Registrations for the programme have closed but interested companies may still complete the free MDI assessment (more information outlined below).
The BVoD programme is open to all companies, especially those keen on improving their current business operations or innovating in new business areas by becoming more user centric.
Companies that do not have a design team or function can also benefit from an assessment with the MDI.
Participating companies can look to:
The BVoD programme has two phases:
1) In the first Assess & Reflect phase, companies will assess their company's design performance and learn the key design behaviours most strongly correlated to improved business performance.
*Note: Before you embark on the assessment, and to help you and your team make the most out of it, you can download a copy of the Pre-MDI FAQ here.
2) In the second Aspire & Act phase, companies will develop a tailored action plan, with guidance from McKinsey Design experts, to shape their approach to a key business challenge or opportunity.
The MDI online assessment is open to all companies with an incorporated entity in Singapore. Selected companies will be invited to participate in subsequent stages of the programme.
Have more questions about the BVoD programme? View the frequently asked questions here. Alternatively, you can drop us an email at innovation@designsingapore.org.