"Design-led companies increased their revenues and total returns to shareholders (TRS) substantially faster than their industry counterparts McKinsey is one of the top management consulting firms that solves some of the toughest challenges for leading businesses, governments, and institutions around the world. They're also a strategic thought leader where they publish their research & insights in the McKinsey Quarterly. Leading a pioneering study in 2018, McKinsey set out to link design and financial performance for the first time ever."
"From my experience working and consulting with these firms, the failure to embrace design comes from naive leaders with legacy mindsets, where they reward their teams for doing things the way they've always done them. There's also exogenous factors like our failing education system and societal norms - all have played a part in slowing the progress of design. However, I've found the number one reason that Fortune 500 executives don't fully buy into design as a catalyst for innovation and growth"
Design delivers catalytic change, innovative solutions, exponential business growth, and the capacity to solve difficult global problems. Most Fortune 500 firms limit design to art departments and fail to adopt meaningful design methodologies across organizations. Causes include naive leaders with legacy mindsets, reward systems that reinforce old habits, and exogenous factors such as a failing education system and societal norms that slow progress. The primary barrier is executive inability to understand or quantify design's value. McKinsey tracked 300 public companies over five years to measure the link between design practices and financial performance, revealing stronger revenue and shareholder returns for design-led firms.
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