Product Design and Design Thinking

I have been thinking about product design and how design thinking goes way beyond UI/UX.  Product design takes into account the entire ecosystem.  It is more than can we do something, but should we do it, and are we doing it in a viable and accessible manner. 
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For an introduction to design thinking, I recommend the article "What is design thinking?" by Thuwarakesh Murallie. 

What are your thoughts on product design?  Do you have examples of companies that are doing it well or who have missed the mark?  Let me know in the comments.