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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).
Who this is for
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:
- Assess their current state of design performance via the McKinsey Design Index (MDI) online assessment;
- Learn the top 12 key design behaviours showing the greatest correlation of design actions to business performance of leading companies;
- Identify key areas of improvement in the organisation to adopt these behaviours; and
- Receive guidance to set the next steps for a key opportunity.
Programme outline
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.
- Take the online assessment using MDI*
- Attend the BVoD Forum to better understand how your organisation fared and the areas of improvement
*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.
Eligibility criteria
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.
How to apply
- Register through the BVoD application form here
- Within the form, nominate other senior members of your organisation to take the 45-minute MDI assessment. Your team members will receive an email with the link to sign up and take the assessment.
- Complete the MDI assessment. You should receive a copy of your individual MDI report if the survey has been successfully completed.
- Upon completion of the online assessment, Dsg will be in touch with you on the next steps.
Frequently asked questions
Have more questions about the BVoD programme? View the frequently asked questions here. Alternatively, you can drop us an email at innovation@designsingapore.org.
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