We are probably all too familiar with the consequences of unsuitably and impractically designed or implemented products and services. USB ports, in which the sticks are rarely put in the first attempt. Or airports where countless passengers don’t catch flights because it’s sometimes impossible to get to another terminal at the right time. Then, for example, there’s the Swiss knife and Google’s search engine, which is known for its simplicity, practicality and user friendliness. Or Ike’s system of purchasing and taking over goods. Quite a complete contradiction, isn’t it? So we see that the value of quality design is anything but marginal. On the one hand, it brings obvious commercial advantages, but there is much more to it. Let’s see how good design affects financial performance and corporate performance! McKinsey&Company has monitored 300 companies in the most comprehensive survey (on a concrete theme) over a five-year period, for which it collected more than 2,000,000 financial data and recorded more than 100,000 design actions. From the data collected, the use of t.im. The McKinsey Design Index (MDI) (we say more about this) has a link between the weight the company is putting on the “strong” design and the business performance it achieves. The results show that, according to MDI, solid design companies also have a 4-7% higher annual revenue growth than comparable companies in the industry and as much as 5-9% higher annual return capital growth to shareholders than comparable industry companies. When it comes to billions of dollars, such percentages represent figures that are anything but negligible. More than 40% of surveyed companies aren’t talking to their end users during development, and just over 50% admitted that they don’t possess an objective way to assess or set targets for their design teams’ output,
Now let’s see what MDI represents and how companies take care of and come up with quality and solid designs. In the survey, the most successful design companies are considered top-management, while companies that occupy lower positions on the performance scale represent design rather than subprime to-do or is considered a middle-management task. As 4 core MDI guides, McKinsey&Company listed the following thesis as 4 core guides of the MDI, thus citing the following:
More than a feeling;
It’s analytical leadership: Design should be ‘’measured’’(e.g. surveys regarding satisfaction, usability…) and pursued with the same commitment as the company’s revenues and business performance. For example, a gaming (computer games) company found that a small change in the functionality of their website brought a 25% increase in sales. Pretty good relationship, huh? However, there is still a huge proportion of companies whose governing bodies place shamefully little meaning on design.
More than a product; It’s User Experience:
Products and services must be design in such a way that they are consumer-friendly and to attract them to reuse. Users must experience a positive experience when used. In practice, for example, this means that before the “launch” of a new product, research and specifications need to be adjusted according to the latest feedback of users, rather than simply copying them from the last product that has been put on the market. It is also important to associate the user experience with other areas or other activities. For example, we can take, for example, a pre-prepared meal seller who has teamed up with Netflix to set up a food ordering system right through Netflix. Full-time film “odysseys” thus got a new element – at the same time, without any extra effort, viewers were able to get food and enjoy the evening even more.
More than a department; It’s cross-functional talent
It is important to cooperate between departments within the company. It makes sense to team-building and brainstorming, in short, actively connecting the company’s staff. The isolation of individual departments within the company does more harm than good. It’s true that order has to be, but it doesn’t hurt to have offices in the company of a more open type. Less insulation – more communication!
More Than a Phase, It’s Continuous Iteration:
From all things that have been said, we see that design is one of the key elements of the company’s performance. The McKinsey Design Index guides us through 4 key areas in the pursuit of quality design: first, it is necessary to take an analytical approach and to check and steer the design with the same commitment as we do with the company’s revenue and costs. Then we put the user experience at the forefront and the operating centre and blur the boundaries between internal departments as much as possible, because you are not interested in the end user – make the product comprehensive and verified from all possible perspectives. The third step is to maintain satisfaction and encourage staff, which is responsible for developing the design and integration of the company’s internal divisions. Finally, “test, perfect, repeat.” Companies pursuing the above objectives or following these procedures achieve better results than others and get through higher in the competitive world of entrepreneurship. How are you going to proceed?