A business model describes how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts. For a business, it describes the specific way in which it conducts itself, spends, and earns money in a way that generates profit. The process of business model construction and modification is also called business model innovation and forms a part of business strategy.
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning.
Service design is the activity of planning and arranging people, infrastructure, communication and material components of a service in order to improve its quality, and the interaction between the service provider and its users. Service design may function as a way to inform changes to an existing service or create a new service entirely.
Rosabeth Moss Kanter is an American economist who is a professor of business at Harvard Business School. She co-founded the Harvard University Advanced Leadership Initiative and served as Director and Founding Chair from 2008 to 2018. She was the top-ranking woman—No. 11 overall—in a 2002 study of Top Business Intellectuals by citation in several sources. She was named one of the "50 most powerful women in Boston" by Boston Magazine and named one of "125 women who changed our world" over the past 125 years by Good Housekeeping magazine in May 2010.
The Weatherhead School of Management is a private business school of Case Western Reserve University located in Cleveland, Ohio. Weatherhead offers programs concentrated in sustainability, design innovation, healthcare, organizational behavior, global entrepreneurship, and executive education. The school is named for benefactor and Weatherchem owner Albert J. Weatherhead III, and its principal facility is the Peter B. Lewis Building.
In futurology, especially in Europe, the term foresight has become widely used to describe activities such as:
Design management is a field of inquiry that uses design, strategy, project management and supply chain techniques to control a creative process, support a culture of creativity, and build a structure and organization for design. The objective of design management is to develop and maintain an efficient business environment in which an organization can achieve its strategic and mission goals through design. Design management is a comprehensive activity at all levels of business, from the discovery phase to the execution phase. "Simply put, design management is the business side of design. Design management encompasses the ongoing processes, business decisions, and strategies that enable innovation and create effectively-designed products, services, communications, environments, and brands that enhance our quality of life and provide organizational success." The discipline of design management overlaps with marketing management, operations management, and strategic management.
Strategic thinking is a mental or thinking process applied by an individual in the context of achieving a goal or set of goals. As a cognitive activity, it produces thought.
Design thinking refers to the set of cognitive, strategic and practical procedures used by designers in the process of designing, and to the body of knowledge that has been developed about how people reason when engaging with design problems.
Catalyst Code: The Strategies Behind the World's Most Dynamic Companies is a book by Market Platform Dynamics founder David S. Evans and MIT economist Richard L. Schmalensee published in 2007.
Strategic design is the application of future-oriented design principles in order to increase an organization's innovative and competitive qualities. Its foundations lie in the analysis of external and internal trends and data, which enables design decisions to be made on the basis of facts rather than aesthetics or intuition. The discipline is mostly practiced by design agencies or by internal development departments.
Rita Gunther McGrath is an American strategic management scholar and professor of management at the Columbia Business School. She is known for her work on strategy, innovation, and entrepreneurship, including the development of discovery-driven planning.
Lynda Gratton a British organizational theorist, consultant, and Professor of Management Practice at London Business School and the founder of HSM Advisory, known for her work on organisational behaviour.
W. Chan Kim is a South Korean business theorist. He is a Professor of Strategy and Management at INSEAD, and co-director of the INSEAD Blue Ocean Strategy Institute in Fontainebleau, France. He is known as co-author of the 2005 book Blue Ocean Strategy.
Michael J. Lenox is an American strategist and professor of business administration at the Darden School of the University of Virginia, particularly known for his work on business strategy, technology strategy, corporate sustainability and industry self-regulation. Lenox was also a visiting professor at Oxford University, Harvard University and Stanford University. He is a contributor at Forbes magazine.
Systemic design is an interdiscipline that integrates systems thinking and design practices. It is a pluralistic field, with several dialects including systems-oriented design. Influences have included critical systems thinking and second-order cybernetics. In 2021, the Design Council (UK) began advocating for a systemic design approach and embedded it in a revision of their double diamond model.
Edward D. Hess is an American author and professor.
Design culture is an organizational culture focused on approaches that improve customer experiences through design. In every firm, the design culture is of significance as it allows the company to understand users and their needs. Integration of design culture in any organisation aims at creating experiences that add value to their respective users. In general, design culture entails undertaking design as the forefront of every operation in the organisation, from strategy formulation to execution. Every organisation is responsible for ensuring a healthy design culture through the application of numerous strategies. For instance, an organisation should provide a platform that allows every stakeholder to engage in design recesses. Consequently, employees across board need to incorporate design thinking, which is associated with innovation and critical thinking.
Saras D. Sarasvathy is an American entrepreneurship professor and recipient of the 2022 Global Award for Entrepreneurship Research. She is currently the Paul M. Hammaker Professor in Business Administration at the University of Virginia Darden School of Business and the Jamuna Raghavan Chair Professor in Entrepreneurship, Indian Institute of Management, Bangalore. She serves on the editorial boards or as associate editor of several academic journals as well as serving as an outside director to the public company LendingTree. She is best known for her conception of Effectuation, a theory of Entrepreneurial action based on the study of Expert Entrepreneurs. Her award-winning journal article - "Causation and Effectuation: Toward a Theoretical Shift from Economic Inevitability to Entrepreneurial Contingency" is one of the most highly cited academic articles about entrepreneurship of all time.
Cara Wrigley is an Australian industrial designer, design researcher and author. She is professor of design innovation at The University of Queensland. Her research interests include design thinking, design-led innovation, design education, and emotional design.
