The article highlights the periodization of the history of the formation of design management, which during its 50-year history has passed a difficult path from the methodology of managing product aesthetics and corporate design; design management to be recognized as a strategic asset of business organizations and the basis for the search and implementation of innovations. The modern paradigm interprets design-management as a new approach to managing the development of new products and services, as well as strategies, organizational design and business model, which is based on the design thinking methodology, ensures that the interests of the consumer (user) are taken into account and provides active participation in the search processes and implementation of various innovations. The combination of customer-oriented design thinking with strategic management methodology and the concept of "open innovation" creates a synergistic effect that ensures the growth of customer (user) satisfaction, but also of all stakeholder groups and the success of the business organization as a whole. The article systematizes the theoretical and methodological foundations of the modern understanding of the content of the design management methodology, in particular, the goals and objectives, functions and results of implementation in the context of 3 levels (operational, tactical and strategic) are disclosed. Based on the international standard BS 7000: 2008 "Design Management Systems", possible subjects of design management have been identified depending on its level, range of tasks and organizational functions that are performed. Priority areas of application of design management are identified (product, brand, service, engineering, business design), as well as business processes (internal business processes, learning process, customer relations and brand positioning, search for growth reserves of financial results of management and business value). Triggers (incentives) of design processes and organizational prerequisites for its successful implementation are determined. The basic provisions of supporting design as an activity aimed at bringing new ideas to the market are presented in the documents of the European Union. The results of studies of the leading consulting companies in the world are introduced regarding the effectiveness of design and its impact on the financial performance of companies, in particular, the results of calculating the Design Value Index and McKinsey Design Index, which characterize the relationship between success in design and the growth of financial indicators. The typology of companies is described depending on the maturity of mastering design management technologies (manufacturers, intermediaries, scientists, architects, visionaries). The practical significance of mastering design management for the growth of the competitiveness of business organizations, the search for new innovative ideas for products, services and business models is revealed.