Enough with the GFC already…

Despite the emerging optimism and need to carry on “business as usual”, the global economic crisis has put some serious pressure on product development programs globally.

Whilst we may be through the worst of the downturn, the business and economic communities are treading carefully and avoiding making any substantial claims of economic recovery. Budgets are being carefully guarded, and money spent cautiously. Projects that may have been a “sure thing” in terms of budget and strategic approvals may now be “discretionary” or just simply put on the back-burner altogether.

This is a good thing. It is fundamentally sound business practice to carefully evaluate and prioritise your product development projects, and only pursue those which add value, growth and sustainability to your business, society and the environment.

Design can be utilised in numerous ways to achieve these aims. Here are five ideas for start:

1. New and improved products: Designing new products can be a risky business, but new product development has the potential to define and differentiate your business because it enables you to leverage your knowledge of your market, your competitors and your customers, and deliver new products and services that your customers want & need, as well as deliver genuine bottom-line profits and growth. Even minor tweaks and enhancements can give your current products a fresh look or functionality and can pay dividends when your competition may be bunkered down and cutting their R&D investments.

1. System improvement: Every successful business continually develops and refines their systems and processes. Design thinking can enable you to objectively analyse and map your systems; develop / prototype / test alternative concepts, and engage staff and management in the ultimate common purpose – the future of your company!

1. Fresh, unrestricted thinking: We all sometimes have the “blinkers” on… you know, when we keep doing and thinking in the same way because “that’s the way we’ve always done it”. Design thinking and processes can help open up new directions and ways of tackling common daily problems – giving your team the ability to capture and develop some fresh ideas and possibilities.

1. Creative focus: As the saying goes: “What you focus on, happens”. Creative design processes can yield exciting and useful results when we commit to them with heart and mind… and in these uncertain times, you may not have the luxury of time to wonder about using Design as a means for protecting your business… you need to act fast, be decisive and enable a designer to focus on your specific problem, whilst you get on with running your business.

1. Virtual prototyping: Modern multi-media and design analysis tools, such as animations, photo-realistic imagery, plastic moulding and structural analysis (FEA) programs – can be particularly useful to visualise new products, processes and operational improvements as well as supporting new marketing and sales initiatives. Industrial and graphic design capabilities can be used to visualise and enhance the look, feel and function of your products and promotional materials, and provide you with a range of options without having to spend a cent on costly printing or production of physical objects… all can be presented electronically.

Remember… nothing changes if nothing changes… so, get thinking about how you can improve, develop, refine and change the way you develop, manufacture, promote and sell your products and use design thinking to identify, investigate and test new ideas and possibilities. Let’s leave the GFC in the past.

If you have any tips or advice for your fellow readers, please add them to the comments below. Thanks!