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Value-adding, Value-enhancing, and Value-creating

27th July 2018

We discussed the different transformation of value and the “function” of design thisweek. New terminologies have been introduced to us from the lectures and guest speeches. The concepts are a bit confusing to understand without cases.

When design enhances the product in a process, it adds value. Rocks are turned into iron, and the utility of iron is better than the utility of rocks, so smelting adds value. For the strategy of an online store, packaging, assembling, and delivering just in time add value. In most cases, design adding value to functionality, usability, and customer pleasure.

Creation is not equal to enhancement. It is to make something new where there was nothing before. The results can be new opportunities, new jobs, new capabilities and new products, even community wealth and welfare of the people. Good examples have been presented by Dr. Cees de Bont, from whom we knew what we would do in the future. Designers can contribute to new products, put forward new concepts and systems, interpret product specifications and create a new system. In my opinion, crowdfunding is an excellent example of value creation. It was a breakthrough in the process of raising money.

One of the reasons why it is challenging to make the design case for business is because the investments are often objective and quantifiable, which costs money and time, while the returns are subjective and qualitative, we get customer satisfaction. When we combine design and business, we are comparing different forms of value and develop a strategy to let design contributes.

New Design Practices: Ignite Innovation

 

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Source: Bont, C.J.P.M. de (2015), “The Ignite Innovation Program: A Design-driven Modelfor Social Innovation from Hong Kong”. International Journal of Cultural and CreativeIndustries, Volume 2, Issue 2, March 2015, 54-67.

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