| Good morning. "It's been a great decade" for design in business, IDEO CEO Tim Brown told the group that gathered today at Fortune's Brainstorm Design in Singapore. Only a decade and a half ago, he said, "there was no discussion of design at business schools anywhere in the world." Today, it has become a standard part of the business curriculum. But Brown says design is still rare in the C-suite. He cited ex-Pepsi CEO Indra Nooyi and Ford CEO Jim Hackett as exceptions, but said most companies are still in a gradual process of change. Why does it matter? Because "we are at this moment where there is almost no societal institution that doesn't need redesign." McKinsey's Ben Sheppard followed Brown with research showing the business value of design. In a study of 300 companies over five years, McKinsey found that the quarter of companies that elevated design in their decision making had 56% higher return to shareholders. Top performers, Sheppard said, showed the following characteristics: – They analyzed design with the same rigor that they analyzed cost and revenue;
– They treated design, not as a separate department, but as a capability across departments.
– Design was not just a phase of product development, but a continuing process of iteration.
– Design involved not just product, but also services and digital capabilities, to provide increased value to customers. You can read more about Brainstorm Design here. Other news below. | 
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