The Business Design Cube

Rajagopal Rajagopal

Description

This book discusses the three facets of the design-cube identified as design-to-market, design-to-society, and design-to-value through theoretical foundations, design arguments, managerial analysis, and best practices of companies.

The design-to-market concept has been critically examined for customer-centric companies with focus on the current trend of coevolution and crowdsourcing approaches that drives the companies to practice critical thinking.

Sujets

• Marketing
• Research
• Business
• Economics
• Marketing et communication

Informations

• Publié par: Business Expert Press
• Date de parution: 22 mars 2021
• Nombre de lectures: 0
• EAN13: 9781637420171
• Langue: English
• Poids de l'ouvrage: 1 Mo

Extrait

The Business Design Cube
The Business Design Cube
Converging Markets, Society, and Customer Values to Grow Firms Competitive in Business
Rajagopal
The Business Design Cube: Converging Markets, Society, and Customer Values to Grow Firms Competitive in Business
Copyright © Business Expert Press, LLC, 2021.
Cover design credit: Charlene Kronstedt
Interior design by Exeter Premedia Services Private Ltd., Chennai, India
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means—electronic, mechanical, photocopy, recording, or any other except for brief quotations, not to exceed 400 words, without the prior permission of the publisher.
First published in 2021 by
Business Expert Press, LLC
222 East 46th Street, New York, NY 10017
www.businessexpertpress.com
ISBN-13: 978-1-63742-016-4 (paperback)
ISBN-13: 978-1-63742-017-1 (e-book)
Business Expert Press Marketing Collection
Collection ISSN: 2169-3978 (print)
Collection ISSN: 2169-3986 (electronic)
First edition: 2021
10 9 8 7 6 5 4 3 2 1
With love to Arati
Description
This book discusses the three facets of the design-cube identified as design-to-market, design-to-society, and design-to-value through theoretical foundations, design arguments, managerial analysis, and best practices of companies. The design-to-market concept has been critically examined for customer-centric companies with focus on the current trend of coevolution and crowdsourcing approaches that drives the companies to practice critical thinking.
Keywords
design-to-market; design-to-society; design-to-value; business modeling; market competition; marketing strategy; socialization; co-creation; and coevolution
Contents
Preface
Acknowledgments
Chapter 1 The Concept Map
Chapter 2 Design-to-Market
Chapter 3 Design-to-Society
Chapter 4 Design-to-Value
Chapter 5 The Helix Effect
About the Author
Index
Preface
Businesses are growing selectively across industries and destinations despite most companies addressing the customer needs amidst the rising complexities of competition in the market. Darwinism can be well explained in the global business scenario as multinational companies are exploring remote markets while the hatched niche markets are seeking a way out to wider congregations. In this business dynamics, success is not guaranteed to the companies irrespective of their size, resources, and power. Reviewing several attributes of business today, a few questions often arise like why businesses fail, and, does design matter. SMART (strategic, measurable, accessible, responsive, and trustworthy), connected business designs raise a broad set of new strategic choices converging the attributes of markets, social responsiveness, and customer values to help companies perform as a corporate citizen. Creating social and customer values and securing competitive advantage by acquiring new capabilities to reshape industries have been the growing challenges for companies in emerging markets.
In large organizations, design perspectives are becoming central to the process of business modeling and strategy implementation. The concept of business design has emerged over time as a collective approach in an organization involving customers, stakeholders, and key functional partners. Most organizations have realized today that staying in business as learning organizations helps them grow competitively and consistently in the marketplace. Such business maxim has been described as “systems thinking” that leads to the design principle in business, known as “design thinking.” Companies pursue this concept as a response to the mounting complexities in business operations. Design thinking in business has been conceived as an essential tool for simplifying the business operation by interlinking organization, society, and stakeholders, and more comprehensively humanizing the business. The extended principles of design thinking in business converge with the market attributes (market players, ethics, and business growth), social responsiveness (marketing with purpose), and customers’ (stakeholders’) value propositions. Such integrated, interlinked, and interlocked business philosophy guides the new business architecture as the “Design Cube.” A design-centric business grows socially involving stakeholders, and evolves by inculcating high value among customers. The design cube advocates the cooperative philosophy as a win-win business model to manage the competitors and lead the market.
Market trends and consumer behavior are continuously changing, and social media is playing a critical role in determining marketing decisions. Volatility of consumer markets can have significant negative effects on risk-averse market share, profitability, and brand equity of the companies. However, volatility is one of the most important concepts in the competitive growth theory. The argument central to the theory of change management is that the companies operating in a competitive business environment consider consumer preferences, innovation, technology, and growth-related investments. Customer-centric companies, therefore, tend to build simpler products to help consumers choose the right product. In the design cube, companies that opt to stay customer-centric in business develop product design characterized by the emotional appeal of customers, and mend the market competition in their favor to improve performance. The best practicing companies develop emotional connections with the stakeholders through value-based design. Consumers exhibit positive behavior for products and services that ensure social pricing. Social interactions often motivate a sustainable and social consumption of products. The interplay of consumers within the social (inter-personal) and digital (remote response) platforms also helps companies go social and stay distinctive in the competitive marketplace. Consumers today are increasingly looking for brands that have a social purpose above functional benefit. As a result, most companies are taking social stands in highly visible ways. An effective, convergent business strategy creates social and customer values by coevolving the brand in the society. The connecting thread between society and business consists in developing cognitive ergonomics among the stakeholders and stimulating co-creation of business design. It is argued in the book that the socio-business convergence can be better understood through continuous learning about the consumer behavior.
Value is often measured in either economic or social terms. The blended-value proposition emphasizes that true value, which is a blend of economic, social, and environmental components, is indivisible. After the success of networking practices of business activities with social media over decades, profit-seeking firms have laid explicit emphasis on the creation of social value. This business philosophy has grown in nonprofit organizations as well. Social value is dynamic, and customer-centric companies continuously monitor the perpetual changes in social values, culture, and ethnicity. Consequently, companies have developed social corporate entrepreneurship, which intends to create social as well as financial value. The social business value is therefore defined as a function of corporate social initiatives to support business and the extent of social values absorbed in the society and the market. In order to drive the business deep into the social environment, companies adapt to the triadic philosophy of gaining social insights, ideation on blending business values in the society, and co-creating innovative socio-business strategies. The best practices reveal that these elements boost business results by driving business social and solving complex.
Successful companies like Nestlé, Whole Foods, and Apple bring business and society back together by creating shared value and generating economic value. Thus, companies deliver value for society by addressing its challenges. The social and value-oriented business designs tend to reconceive products and markets based on the social needs redefine productivity in the value chain and build social innovation clusters at their business hubs. Social collaborations focus on improving both business processes and performance. Social orientation of a business starts from a niche, links corporate-interest to shared interest, encourages productive competition, co-creates values, and builds trust among customers.
Accordingly, this book discusses attributes of the design-cube in creating social and customer values, and enhancing business performance of customer-centric companies. The effects of the design cube on managerial decision-making process and business performance constitute the core discussion in this book. Coevolution and value creation have been explained as the people’s business approach, which benefits the companies in the long term. This book argues various dimensions of design-to-market, design-to-society, and design-to-value, and suggests developing innovative business models with alternate thinking to build market competitiveness. The discussion model of the book is depicted in Figure P.1 .

Figure P.1 Discussion paradigm of the book
Source: Author
This book discusses the three facets of the design cube identified as design-to-market, design-to-society, and design-to-value through theoretical foundations, design arguments, managerial analysis, and best practices of companies, as illustrated in Figure P.1 . The concept on design-to-market are discussed in the book in the context of innovation, technology, a