Not a noun. Design is not a thing, it is a process. Design is form AND function, creating something that is not only beautiful, but useful. The best designs are like magic tricks, seemingly simple. Something that anyone would look at and say "I could do that." The New York Times logo is just a font. The Nike logo is just a fancy check mark. Five minutes in Illustrator, and let's call it a day. But the finished product isn't the whole story.
There's a story going around where Picasso sketched a woman's portrait in the park. When she asked the price, Picasso supposedly quoted her $5,000. The woman replied, "But it only took you a second to draw it." To which Picasso responded, “Madame, it took me my entire life.”
True or not, it makes the point. The finished product - a logo, a portrait, a website - has intrinsic value. But there is also value in the process.