Dr. CJ Meadows, head of the Innovation & Entrepreneurship Center at SP Jain, says design-thinking startups with designers in leadership secure more funding because they prioritize user needs. Women often self-select out of job applications and pitch ventures focused on fundamentals rather than the big vision that attracts investors. Future education must blend AI and robotics with human skills like need-finding and collaborative problem-solving.
Chapters
Good evening, ma'am. My name is Praful Bele and I am from CollegeDunia.com. Very warm welcome to you on our interview series which is called Thoughts on Education where we interview various signatories such as the owners, directors, deans, and HODs of various universities and colleges. Before starting the interview, I would request you to kindly give a brief introduction of yourself, and then we can proceed ahead with the interview.
Hi, I'm Dr. Cj Meadows. I am a professor and the head of I2E, the Innovation and Entrepreneurship Center, at SP Jain School of Global Management. My background is as an Accenture IT consultant Accenture Strategy, entrepreneur for a couple of decades, and doctorate in business administration from Harvard Business School.
Ma'am, that was really great to hear your introductory part. Now let's go to the first question of this interview series, and that is, what factors do you believe have contributed to the increase in women's participation in higher education, and how might this trend impact future workforce dynamics?
Hmm, well, first of all, there are a lot more women in the workforce and bringing business opportunities with them. As they do so and as they take on more and more responsibilities, they need skills. But it's not just about the skills to get the job done. Women also need the approach, the presentation, how to navigate a world of business. For example, if there's a job available and there are job requirements posted, women, women tend not to apply for the job unless they meet all the criteria. On the other hand, men will apply on average if they meet about half. So who gets the job? So women need to learn to put themselves out there, and even if they don't they could be a very valuable resource and they need to present themselves for that. Also entrepreneurship. Why do women's entrepreneurial ventures attract less funding? Well, one reason is because when men present to venture capitalists, they focus on the world of opportunity and all the value they could potentially create, whereas women tend to focus on tend to talk about business fundamentals and how they're going to keep the business strong as they grow. What do venture capitalists want? They want the big rosy picture. So who gets the funding?
Ma'am, how do you envision the future of education evolving considering advancements in technology, changes in social needs, and other relevant factors?
I would, as a design thinker, I always start with the needs. So in this new age of advanced technologies, artificial intelligence, robotics, and so forth, we don't only need digital skills for those particular technologies. What's going to happen is those technologies are going to take over a lot of what humans do and even a lot of what we think, but we We still need the human element to handle situations that the technologies themselves don't handle. We need humans with good skills for finding needs, designing solutions, structuring unstructured situations, collaborating with tech and with each other, and more.
Ma'am, in what ways does SP Jain School of Global Management foster mindsets among its students, and what specific programs or initiatives are in place to support this cultivation?
Oh my, so SP Jain fosters adaptability, um, in its people. And frankly, according to LinkedIn research, that's the most growing skill in 2023, um, and in an age of change We need people who are adaptable. We also need people who can deal with people around the globe, new situations, new technologies. Embedded in all the programs is technology, teamwork, and applying new ideas in real situations. Not only in case situations that are discussed in case rooms, but also in projects done for real companies.
Ma'am, what strategies do design thinking startups employ to excel and attract increased funding, and how might these strategies differ from traditional business models?
Well, funny enough, startups with designers in the leadership team or on the board attract more funding and succeed better because inherent in approach is the focus on user needs and what the business offers to fulfill those needs 10 times better than anything else available. That's what helps the business succeed.
Could you provide examples of how leadership teams practically implement design thinking strategies within their organizations to drive innovation and solve complex challenges?
Oh, well, there are a lot of organizations that do this. As a matter of fact, there's a lot of research on design-led companies. They achieve superior results, for example, 3 times return on assets, twice the growth in operating income, and more. Design-led companies like Apple, like Procter Gamble, like even like UBS, the bank, and more. They focus on new needs and grow the business based on those needs. They keep technology at the back of their heads, understanding that that gives us capabilities, but technology itself does not drive business. Business growth. It's how you use it to serve people.
Ma'am, any suggestions you would like to give to the current youth and the aspiring students?
Given that your world of work will be enabled with advanced technologies, you need to focus on what makes you human and what is valuable about you as human. You need to be able to explore, grow yourself, lead your own development, find needs, fulfill them, launch offerings, expand what you do. You need to collaborate with technology and with other people. First work on yourself, transforming you, and add in all of the advanced technology and human skills to make you successful.
Ma'am, it was really great to meet you and to listen to your views on our interview series, that is Thoughts on Education. We thank you on behalf of the College Dunia team, and we wish you all the very best for your future endeavors. Thank you, ma'am.
