Publication

Design Thinking: A competency that every EMBA must have

December 20 2017
Executive Education INCAE

The disruption that technology is generating in dozens of industries and companies is no longer a novelty and is today an undeniable reality.

Peter Diamandis, Co-Founder of Singularity University expresses it clearly in the data that it shares in Your Website. Of note is the marked reduction in the cost of processor performance (measured in dollars per million transistors), which went from US $ 222 in 1992 to less than 6 cents in 2012, or the cost to create a technology company, which was around US $ 5. US $ 2000 million in 2011 and by 5 it was less than US $ 000. 

These are just two data of the dozens that account for the speed and forcefulness of the changes we are experiencing and that, as we said at the beginning of this note, are no longer a surprise to anyone. 

Its main consequence is a boom in innovation and creativity in almost all human activities. Consider the countless companies that, supported by recent technological development, have emerged and transformed entire industries. Examples such as Über, Airbnb and Netflix, to mention only 3 cases that are known to all. 

This new reality offers Latin American entrepreneurs and leaders the opportunity to transform their companies and industries, thereby promoting the growth and development of the region. 

As he comments William Cardoza, Ph.D. and full professor at INCAE Business School, the only way to promote the development of the region and escape the dependence that our countries have had on commodities is with "medium and long-term strategies focused on the adoption of a new growth pattern based on industries with higher added value ”. 

Seizing this opportunity, however, requires more than favorable external conditions. Entrepreneurs need to have the ability to ask new questions and produce new ideas that respond to the needs and concerns of consumers today. 

They must also have the ability to innovate and dare to break old schemes. It is there where the Design Thinking charges immense value and the reason why your teaching plays a central role in our programs, especially in the Executive MBA.

El Design Thinking was born as a work methodology for designers and creatives, whose center is always the final consumer. Empathy is one of the most important concepts in the methodology and the tools used are qualitative in nature, thus complementing the more traditional data-centric analysis. 

The ultimate goal is to rethink problems to achieve innovative solutions that add value. Today, Design Thinking is used consistently by the most innovative companies on the planet. 

Reciente en un Financial Times article, the prestigious British publication cites companies such as BMW, PepsiCo and Deutsche Bank, whose innovation process is carried out under this methodology. States that "Teaching Design Thinking is teaching by doing" and highlights empathy as "one of the most powerful but underestimated leadership skills in today's business environment," which is why its incorporation into academic programs for executives is indispensable today.

At INCAE we have been teaching this important methodology for several years as part of the our Executive MBA. Through workshops, master classes and talks or panels with entrepreneurs, our students acquire the central tools of the Design Thinking

The above is reinforced by the alliance we have built with Babson College, the # 1 school in entrepreneurship in the world, with whom we work hand in hand to take our students directly to one of the most important innovation ecosystems on the planet and learn, first-hand, the latest in the world of innovation and entrepreneurship.

Never before have entrepreneurs and executives in our region had such a clear opportunity to drive change in their industries and companies. 

It would be unforgivable not to take advantage of it. 

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