Economic Development Futures Journal

Saturday, June 25, 2005

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It's All About Product Design

When people talked about innovation in the '90s, they invariably meant technology. When people speak about innovation today, it is more than likely they mean design. Consumers, who are choking on choice, look at design as the new differentiator. In a sea of look-alike products and services, design creates the "Wow!" factor. Managers, facing fierce global competition, look to design for the kind of innovation that generates organic growth, new revenues, and wider profit margins.

Design is fast becoming a must-have competency for corporations. It has evolved from a simple way of giving form and color to products into a powerful tool for "C" suite executives. Design methods get managers close to their customers, design research helps top execs visualize the future, and design strategies help companies innovate.

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