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Small business capabilities and customer interactions are particularly susceptible to market disruptions. Small businesses must pivot quickly to build or grow their capabilities and manage diverse strategies to deal with crises. This ability to quickly adapt and formulate strategies is necessary to help small businesses maintain sales and continue to engage with their clients, especially in light of disruption and crises. This work uses design thinking strategies to provide insight into how businesses can navigate such disruptions.

This research investigates how design thinking can help small businesses address crises. The focus is on leveraging design thinking strategies such as empathizing, defining, ideating, prototyping and testing (EDIPT), divergence/convergence and customer journey mapping design thinking tools.

The authors provide propositions and strategies to help firms adapt their strategies to the demands of clients during crises.

This piece provides an accessible introduction to three design thinking strategies (general EDIPT model, convergence/divergence and consumer journey mapping). The authors present this in the context of disruption, especially the recent pandemic, specifically focusing on small businesses.

Kaleidofin was co-founded in 2017 by Puneet Gupta and Sucharita Mukherjee; former CFO and CEO of IFMR (Institute for Financial Management and Research) Holdings Pvt Ltd. As part of their roles at IFMR, Gupta and Mukherjee focused on designing products and developing technology to push for financial inclusion. In their field interactions, the co-founders had an epiphany of the challenges faced by people while trying to save towards important life goals. They saw an opportunity in the large segment of financially under-served people in India and quit their jobs to start Kaleidofin. Kaleidofin was conceptualised as a digital platform that offers customised financial solutions to help customers meet their life goals. The start-up partnered with mutual fund companies for solutions on one hand and network partners (NGOs, microfinance organizations, cooperative banks) on the other for access to their existing customers.

Kaleidofin grew from 50 customers in January 2018 to 15,000 customers by March 2019. Aiming to grow to 1 million customers in the next 30 months Kaleidofin faces a dilemma about its future course. The start-up could continue to grow by expanding its current target segment which is the low-income households and preserve its vision at the risk of increasing costs. The second option would be to look at other potential target segments, such as, middle-income households and risk diluting their vision. The case study highlights the unique customer-centric model of Kaleidofin and the need for start-ups to understand the value proposition of their products/services.

This study addresses the challenge of integrating entrepreneurial competences development into the traditionally structured engineering curriculum, recognizing its potential contribution to job creation. Specifically, this study proposes a course design that intersects project management and entrepreneurial disciplines, adopting a challenge-based learning approach.

Considering a list of common features that entrepreneurs and engineers—in the role of project managers—should excel at, and building upon the principles of experiential learning, this study proposes and describes a course design that is expected to help engineering students develop entrepreneurial competences. Through a series of assessment instruments and descriptive statistics, the study evaluates its implementation in a pilot test applied in a Project Management course at a Spanish university.

The results demonstrate a significant improvement in students' entrepreneurial competences after completing the course. Noteworthy variations in receptiveness to skill development among different personality profiles are observed. Gender differences are minimal, with the exception of women exhibiting heightened self-perception in the autonomy dimension.

This study explores the common features shared by two often-disconnected disciplines, namely engineering and entrepreneurship. It suggests that integrating both perspectives through a challenge-based course design can enhance entrepreneurial competences among engineering students without compromising the specific knowledge gained from engineering programs. Engaging students in such pedagogical experiences not only fosters entrepreneurial competences but also contributes to their professional and personal growth.