One of the blogs that I follow on a daily basis is Tim Brown from IDEO. Tim's definition from a Harvard Business Review article states:
Design thinking can be described as a discipline that uses the designer’s sensibility and methods to match people’s needs with what is technologically feasible and what a viable business strategy can convert into customer value and market opportunity.
Most of you might be thinking...sounds simple enough so why do we need another term for this. Well like most things in life, the simple things are the hardest things for people and companies to do well.
You can subscribe to his blog here: Design Thinking