At a time when the world around us is changing faster than ever, DBA alumnus Dr Cai Jin, CEO of Sing Tao News Corporation (Sing Tao), shared his views towards rapid digital transformation in the media industry, industry collaboration with PolyU, and the importance of talent development.

Embracing Digital Transformation

Sing Tao has built an irreplaceable reputation over 85 years but now finds itself part of a media industry undergoing significant transformation due to the rapid advancement of technology. “Embracing digital transformation was a big challenge for print-based media,” says Dr Cai. “The greatest ‘opponent’ we faced was ourselves. But businesses need to be resilient and adapt quickly to the ever-changing technology landscape.”

Applying new technology and adapting quickly was crucial to maintaining market share. But Dr Cai insisted that rapid change should not be at the expense of upholding the company’s vision and goals. “Sing Tao plays a very important role in reporting based on the twin principles of truth and fairness,” says Dr Cai. “It’s important that we use our credibility and influence to promote positive values and thinking about the betterment of society.” This is why Sing Tao seeks collaborations, including ESG-related initiatives with the Center for Economic Sustainability and Entrepreneurial Finance (CESEF) at PolyU.

Collaboration with PolyU

"PolyU has strong research teams whose research results are useful for businesses," observes Dr Cai, who in addition to his role as CEO of Sing Tao has since 2021 also been an Adjunct Professor at FB’s School of Accounting and Finance, where he teaches ESG-related topics. "Businesses observe practical performance in their own operations. This creates a wealth of data that can be gathered for further research, which is a valuable opportunity for synergy between business and universities.” Through knowledge transfer, he believes PolyU's research results and industry practices can work together to make businesses more resilient and adaptable to the ever-changing technology landscape.

“I have a close relationship with the university,” says Dr Cai. “I regularly exchange views with academic staff and have had many conversations with them about Sing Tao’s development and planning. When I teach, I draw on my own industry experience. Every company has its own characteristics, strengths and competitive edge, so I share industry examples and practices to help students overcome their limited experience. For example, we might explore the impact that a certain course of action may have on society. In this way, I hope to enable them to be more creative and innovative.”

Dr Cai says that he would like to see PolyU arrange more exchanges, discussions and visits for alumni to learn more about other industries, and about company development and planning. “Not only when there are projects, internships or employment opportunities for graduates,” he says. “It’s always a win-win relationship. On the one hand, the university can recommend, or even provide, talented individuals as every company finds it difficult to recruit the right people. On the other hand, when alumni have a close relationship with the university, the university, its graduates and the companies they work for can develop and advance together through the graduate network.”

Talent Development

According to Dr Cai, it’s crucial for students to understand both the process of business operations and the importance that teamwork plays in success. “Start-ups and entrepreneurship are often promoted, and many students may think that it’s easy to run a business and be their own boss. Unfortunately, due to a lack of thorough planning, they’re often unaware that they face high risks and are unlikely to succeed in making a living through what they do,” he says. Instead, he believes students need a long-term vision. “Gaining some initial experience of working in corporations can help students understand real business practices and help them set long-term goals beyond more short-sighted aspirations,” he says.

Recently, Dr Cai has been thinking of establishing a management trainee programme. "Talent development is crucial for the growth of any business," he says. “Being disciplined and responsible is crucial for success and individual growth. My intention is to attract talented aspirational youth to an all-round programme covering interpersonal skills, communication skills, social skills, and most importantly, problem-solving skills. These are the skills they will need if they want to progress to senior management.”

DBA Experience and Recommendations for PolyU

Dr Cai's DBA experience was very challenging, and the most difficult period in his life as a student. “Time management was crucial,” he says. “I was working and studying part-time concurrently, and it was no easy task to produce a high-quality thesis. Especially, it took some time and effort to learn research methodology, then apply it to data collection and processing. Twice I wanted to give up as I was struggling to strike a balance between work, study, and family. Through self-encouragement and commitment to academic pursuits, and the realisation that I might regret it if I gave up, I eventually overcame the hurdles. In the end, it was a very valuable experience.”

To improve the DBA experience for future cohorts, Dr Cai recommends that PolyU enables a better exchange of resources among DBA students. He would also like to see more regular opportunities for knowledge transfer, such as small-scale forums and DBA networks.

When asked what little bit extra the university can do for alumni, Dr Cai suggests that it could act as a facilitator, arranging visits to corporations and other organisations among alumni, thus providing opportunities for exchange and collaboration. He mentioned an excellent example of this, when some students assisted Sing Tao’s HR department with robotic process automation.

Dr Cai's experience and recommendations highlight the importance of adapting quickly to the ever-changing technology landscape, with businesses and universities working together in ways that benefit both parties, and graduates such as Dr Cai playing a significant role by bringing their own knowledge and experience back to the university.