The Importance of Design Thinking on the Development of Innovations in Digital Business in the 4th Industrial Revolution : How Design Thinking is transforming Companies and is inspiring Innovation
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2021
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Abstract
This paper highlights the necessity for new innovation methods in the digital transformation era. This study gives an overview of the impact and importance of Design Thinking - a method to approach the process of innovation - with the scope of digital business. It highlights the necessity of new modern methods to accelerate innovation in the modern digital world. In light of the increasingly diverse forms of the complexities of our world, the field of innovation strategy is in need of new approaches. Also the study will show that the ill-suitedness of traditional approaches are evident, therefore the study aims to determine how Design Thinking making valuable contributions. The literature review evaluates the impact of Design Thinking as a new approach for driving innovation and digital transformation at time of manic cycles of change. Cases will be introduced to show the application of Design Thinking and its positive outcome. Interviews will be conducted to get practical insights and experiences about Design Thinking. The study aims to provide a better understanding of the concept of Design Thinking and to extend the existing knowledge on how Design Thinking adds value to the innovation process and overall success