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Continuing the post...
Our approach so far, on the design side, is as follows:
1. We want to (and already started to) create a new project in Figma for this global design system (DS)
2. This project will have a separate file for each component, published as libraries. Doing this will allow teams to work and conceptualise individual components, but also link only the needed component libraries to your product's DS
3. Each product will create a design system in which they link only the needed libraries from the global DS, and publish it as a library
4. Here, they will add the instances, style them as per project's theme and create new components out of it.
5. On the files teams will only link to their product's DS
Doing this will allow us to work on the global components without affecting any Uls. There will be a higher team that will discuss new components at the global level and any updates on the existing components, based on each project's requirements.
This all sounds good but don’t you guys have someone senior in design like a director or VP to help guide this at scale?
I'm the senior product designer in charge, not a director or VP though. Our products work as individual startups, all having all (and separate) departments. And that's where all started to come at the surface: we started a new product, and after a short amount of time their demo was kind of a disaster. And we (a group of people from various products) realized that the new product cold have used the time better if, for their capabilities, they would have used the already conceptualised, designed and developed components and patterns that other products already have.
Agree w/ DPM that design ops-level oversight would be helpful here. Otherwise I would recommend abstracting a level before diving into component definition in Figma et al. That is, map out the components as a user need/goal & product benefit/value level, then clarify and fit your components to those. This will clarify what you should have, what you do have, and where you have redundancies or gaps.