We see Business Design as the art of ensuring long-term business viability. Business Design combines a customer-centric approach to innovation with strategic analysis and financial modeling to enable sustainable value creation for customers and the business.
Designing for growth is a relevant topic for many of our clients across industries. For some it is a question of finding new growth areas in a saturated business landscape and for others it is a question of responding to changing market conditions and industry disruption. Many companies have launched innovation accelerators to find new growth opportunities, but are struggling to generate true business impact.
Based on our experience, there are a couple of typical reasons why the benefits of Business Design are not realized:
These challenges manifest themselves for example as an insufficient understanding of business value capture, tendency to start considerations from technological opportunities instead of customer problems, or lack of understanding of execution feasibility during the Business Design process.
We believe that more extensive use of Business Design practices and tools including business strategy, customer-centric design and capability assessment will help companies deliver significant business impact through innovation and new business development activities.
Business Design is about proving business viability. Ensuring business viability requires strategic direction, market understanding, business model definition, and business opportunity size and business case definition. In the business design process strategic analysis is done in a systematic but agile manner, where business understanding is constantly iterated based on learnings received.
There is no business that can achieve its full potential without understanding who their customers are and what their problems are. Today when customer expectations are shifting rapidly, Business Design must be driven by human needs, always deciphering a customer’s pain points, needs and expectations. With the help of Service Design principles and methodologies, continuous dialogue with customers can be ensured through the design process.
Understanding how the business works and what the customer wants means nothing for a business without the ability to execute the ideas in a commercially viable way. And to do this, you need to identify the capabilities needed (be it technical or non-technical) and find resources with the right capabilities. In an effective Business Design approach execution feasibility is continuously assessed taking into account technology, people (competences and resources) and operational capabilities.
We believe that Business Design enables companies to deliver real business impact when companies learn to use the three lenses of business, design and capability in a balanced way. If you want to hear more about our approach to Business Design and how we have helped our clients, we are happy to share our experiences. Also, remember to follow our latest thinking around Business Design, and other fascinating topics, through our blog.
Antti Maunula, Head of Digital & Strategy, BearingPoint Finland
Sami Loikala, Head of Customer Experience and Design, BearingPoint Finland
Jani Ristimäki, Manager, BearingPoint Digital & Strategy
Max Knuts, Consultant, BearingPoint Digital & Strategy