Entrepreneurship and Innovation Today

REMINDER- 8 week course on Lateral and Critical Thinking for Students and Adults starts on Tuesday Oct 8th in Toronto

REMINDER

8 week course on Lateral and  Critical Thinking for Students and Adults starts on Tuesday Oct 8^th  at 7 pm at the Ukrainian Canadian Social Services in Toronto at the corner of Jane and Bloor. To register and for more information, contact Walter Derzko at  416-819-9667 or email [email protected]

 

Register on Facebook
 here https://www.facebook.com/events/573608119364560/?ref_dashboard_filter=upcoming

How to double and triple the success rate of all entrepreneurs in a country

What do creativity, problem-solving, conflict resolution, sense-making, innovation, discovery, design, invention,  entrepreneurship, recovery and job creation  all have in common? What's the common denominator here?

......THINKING SKILLS .....

This week I attended the Youth Entrepreneurship Summit in Toronto sponsored by cybf.ca  and Industry Canada as part of Global Entrepreneuship Week.

In discussions with participants and in the Q&A session I made the business case that we should be teaching both critical and creative/lateral thinking skills to all children starting in public school…and right through college and university and  especially to kids at risk such as our Native Indian population.

We’ve been teaching  lateral thinking skills to gifted kids across Canada for the past 40 years (so we know how to teach it and we know it works) and Corporate Canada regularly sends its top CEOs and managers  to attend courses on lateral thinking by Edward de Bono, yet we ignore the rest of the entire population-heaven forbid that we actually teach them to be effective thinkers. People who have paid property tax to support our education system should get refunds because the education system has failed us, since most kids exit the school system cognitively deficient !!

 In grade one, when we start to learn numbers, teachers first teach us the operacy skills behind numbers, which are plus, subtract, multiply and divide and then we go on to higher order operations which are based on these basic cognitive operations. But when we switch from numbers to ideas, notions, values and assumptions we somehow forget that we need to teach the corresponding critical and lateral thinking skills to invent and explore ideas.

 Research shows that kids who are taught lateral thinking as a separate subject as early as grade one or two, show a corresponding grade improvement across all subject areas.

 In the UK,  kids at risk(who are already full of street smarts) and  who were taught a ½ day workshop on lateral thinking skills as teens,  later grew up to become successful entrepreneurs or community leaders at a percentage rate that was far greater then the normal population. When I taught a course on lateral thinking skills in business at Conestoga College in Kitchener Ontario in the 1990s, it was one of the most popular as voted by students.

 Just think how much more successful all entrepreneurs would be if they all had a background and knew  how to overtly use and apply their cognitive skills..and we already have an under-utilized mentor network-gifted ed teachers can mentor entrepreneurship lectures and professors.

Walter Derzko

Invest North Ireland says: Now's your chance to develop those 'big ideas'

Invest Northern Ireland's head of entrepreneurship development Sharon Polson is urging local entrepreneurs with a "big idea" to get their applications in for its new Propel programme by the closing deadline this Friday.  The programme aims to cultivate up to 15 new hi-growth export intensive businesses within 12 months. 

 "Without doubt, there will be many local people who have been thinking about or working on really innovative and revolutionary concepts, but just don't have the know-how or confidence to get them off the ground," she said. 

Information can be found  here .

www.propelprogramme.co.uk

Source: Now's your chance to develop those 'big ideas' Anonymous.  Belfast Telegraph.  Belfast: Sep 16, 2009.  Pg.  36

Walter Derzko , Smart Economy, Toronto

Author - Opportunity -45 Scenarios to Drive Your Business in Challenging Times, published by J. Wiley and Sons ISBN13: 978-0-470-73761-3 ISBN10: 0-470-73761-1 Consumer Release Date: December 29, 2009

Panel: Are Resources Allocated to Entrepreneurship Education Wasteful or Efficient? A Global Perspective

A panel discussion at this year’s AoM conference caught my attention: Are Resources Allocated to Entrepreneurship Education Wasteful or Efficient? A Global Perspective

 

Abstract

World-wide, the teaching of entrepreneurship is a rapidly increasing phenomenon. In line with this increase, over 20 studies investigating the effectiveness of entrepreneurship courses and programs, across 14 countries, have been undertaken in the last decade alone (McNally et al., 2009). Unfortunately, there is little agreement among authors as to: 1) the most appropriate outcomes to measure; and 2) the most appropriate research methods to ensure meaningful, generalizable results.

Conclusion

As such, it is not possible to say with any confidence, at this point, that we are employing educational resources to efficiently develop future entrepreneurs.

This workshop will bring together leading scholars in the field, who will work collaboratively with each other and with participants, to develop some common understanding regarding how to develop future comparative research, and from that, how to improve the effectiveness and efficiency of entrepreneurship education, world-wide. Participants will come to the workshop with research project ideas and issues, and through the combination of interactive discussion, group work, and collaborative plan development, leave with either specific research plans, or a greater understanding of potential for improvements in entrepreneurship education. The specific goals of the workshop are: 1. To develop common understanding of the development needs for research on measurable outcomes of entrepreneurship education. 2. To increase the generalizability of research in the field. 3. To develop more international linkages among entrepreneurship education researchers. 4. To increase the likelihood of getting future entrepreneurship education research accepted into top journals.

Participants will be paired with leading scholars to address key issues, build understanding on developing research and entrepreneurship education.

 Source: Are Resources Allocated to Entrepreneurship Education Wasteful or Efficient? A Global Perspective

Walter Derzko

Goal setting fine on paper & in text books, but not in the real world; Expert serial entrepreneurs and MBA's think differently

The notion of goal setting has been the core philosophy of countless MBA programs, thousands of self-help book and pop pshycology articles and magazines and the benchmark tactic promoted by legions of career counselors, business coaches and scores of consultants of all stripes.

Sounds rational and logical on paper and in MBA text book? Right? But does it work in all cases in real life? No...according to a new Swiss and US study that compared how successful expert serial entrpreneurs and novice MBA students think and approach problem-solving.

Traditional goal setting methodology may be fine in a stable world where your assumption hold true over time but not work as well in an ever changing turbulent world, with new emerging world views and ever-shifting mental models and business models of how things work.

The study asked 27 expert serial successful entrepreneurs and 37 novice MBA students to think “out load” continuously as they were given decision-making problems in creating a fictional  new venture. Transcripts were analysed and results showed that experts framed problems in dramatically different ways –in fact, diametrically opposed to the MBA students who followed the textbook. Experts framed problems more using “effectual”  logic, while MBA students largely used “predictive” logic.  Effectual logic ignores long term goals as the starting point for the time being and proceeds outward from means and causes to new effects and unanticipated ends. MBA students, as per their conventional goal-setting  training proceeded in the opposite direction, using predictive logic, starting with predetermined effects or goals and strived for means and causal paths that would direct them toward these pre-selected goals

Using effective logic, serial expert entrepreneurs identified more potential markets, focused more on building the venture as a whole, payed less attention to predictive information, worried more about making do with resources on hand to invest only what they could afford to lose, and emphasized stitching together networks of partnerships. Novice MBA students using “predictive frame” missed most of the above issues when tending  to “go by the textbook.”

This study argues that we need to challenge and rethink the standard business MBA curriculum- how and what we teach MBA students about entrepreneurship and urges researchers to better understand how and why seasoned serial entrepreneurs develop effectual framing logic through their years of experience.

 

The table below summarizes the differences between effectual logic and predictive logic

 

Causal Predictive Logic	Effectual Logic
View of the future Predictive. Causal logic frames the future as a continuation of the past. Hence accurate prediction is both necessary and useful.	View of the future Creative. Effectual logic frames the future as shaped (at least partially) by willful agents. Prediction is  therefore neither easy nor useful.
Basis for taking action Goal-oriented. In the causal frame, goals, even when constrained by limited means, determine sub-goals. Goals determine actions, including which individuals to bring on board.	Basis for taking action Means-oriented. In the effectual frame, goals emerge by imagining courses of action based on given means. Similarly, who comes on board determines what can be and needs to be done. And not vice versa.
Predisposition toward risk and resources Expected return. Causal Logic frames the new venture creation problem as one of pursuing the (risk-adjusted) maximum opportunity and raising required resources to do so. The focus here is on the upside potential.	Predisposition toward risk and resources Affordable loss. Effectual logic frames the problem as one of pursuing adequately satisfactory opportunities without investing more resources than stakeholders can afford to lose. The focus here is on limiting downside potential.
Attitude toward outsiders Competitive analysis. Causal frames promulgate a competitive attitude toward outsiders. Relationships are driven by competitive analyses and the desire to limit dilution of ownership as far as possible	Attitude toward outsiders Partnerships.  Effectual frames advocate stitching together partnerships to create new markets. Relationships, particularly equity partnerships drive the shape and trajectory of the new venture.
Attitudes toward unexpected  contingencies Avoiding. Accurate predictions, careful planning and unwavering focus on targets form hallmarks of causal frames. Contingencies,  therefore, are seen as obstacles to be avoided.	Attitudes toward unexpected contingencies Leveraging. Eschewing predictions, imaginative re-thinking of possibilities and continual transformations of targets characterize effectual frames. Contingencies, \therefore, are seen as opportunities for novelty creation — and hence to be leveraged.

Source: The Opportunity Clinic and Effectual versus predictive logics in entrepreneurial decision-making. Differences between experts and novices. Dew, Read, Sarasvathy and Witbank. Journal of Business Venturing, 24 (4)  (July 2009) 287-309

Walter Derzko

 

Entrepreneurial & Opportunity Brain Drain in USA and Europe**

People create opportunities. So any abrupt changes in migration and immigration flows and patterns matters a great deal. Many studies have shown that highly educated immigrants have a higher likelihood of starting new business ventures then the general population at large, so immigrant influx into Canada and the USA are critical in maintaining a global competitive edge. Immigrant entrepreneurs where largely responsible for many of the startups in Silicon Valley.

So it’s disturbing to see a study [1] that reports  that immigrants with advance education are increasingly likely to return home after taking advanced degrees in the US, leaving the country that trained them facing potential skills shortages and increased competition. This bodes well for emerging markets but not for western developed economies. “A combination of changing perceptions about where opportunity lies, rising nationalist sentiment in the face of a global recession, and poorly thought-out immigration policies, is said to have caused the shift in sentiment and behavior” observe researchers. Among the other reasons given for leaving the U.S.were better economic opportunities at home, a desire to be with friends and family, and concerns about job prospects and the availability of visas

Data also supports that the same is happening with foreign students studying in Europe. Researchers see a fair amount of returnees from Europe, attracted back to China and India due to the opportunities in their home countries. If countries do not provide an innovation-friendly overall environment, where highly skilled workers can use, create and disseminate knowledge, then attracting more workers might not lead to better innovation and economic growth outcomes anyway.

In October 2008, the above researchers [1] polled 1,224 foreign nationals from Facebook, who were either studying in U.S. institutions of higher learning, or recent graduates. They found that only 25% of Indian students, 9% of European students and  7% of Chinese students, thought the best days for the American economy lay ahead. More significantly,  74% of Chinese students and 86% of Indian students felt the best days for their home country's economies lay ahead.

Other disturbing results for America showed that only 6% of Indian, 10% of Chinese and 15% of Europeans intended to settle permanently in the United States. The number of graduates who wanted to stay in the U.S.for a few years also fell, with only 58% of Indian, 54% of Chinese and 40% of European students wanting to stay on. Earlier National Science Foundation research showed that 92% of Chinese students and 85% for Indian students stayed for five years or more. [2]

The students polled were also more of an entrepreneurial group; 64% of Indian, 66% of European and 68% of Chinese students said they wanted to start a business in the next decade, with most of the Indian and Chinese students hoping to do so in their home countries.

[1} Losing the World's Best and Brightest: America's New Immigrant Entrepreneurs, Part V, a study sponsored by the Ewing Marion Kauffman Foundation

[2] West 'Hemorrhaging' Its Best Brains, Study Claims Luke Collins. Research Technology Management. Arlington: Jul/Aug 2009. Vol. 52, Iss. 4; pg. 2, 4 pgs

 

**An excerpt From the soon-to-be-released book -Hard Times, Golden Opportunites by Walter Derzko;  publisher-J Wiley and Sons

CfP-The Great Recession of 2008 and its Impact on International Business.

Thunderbird International Business Review

Special Issue – Call for Papers:The Great Recession of 2008 and its Impact on International Business.

Guest Editor: Amir Shoham, College of Management – Academic Studies, Israel.

This special issue will include studies dealing with the current economic crisis and the lessons that it can teach about the international environment and management of international businesses.

The perspective on the development of the global economic crisis is still short-term and provides a look straight from the eye of the storm.

Understanding the sources of the crisis and its impact can teach us much about how to manage, what to do and not to do and, perhaps, how to avoid similar complex events in the future. Since the crisis is global and encompasses so many different sectors and countries, it is important to present research on a broad variety of topics related to its socio-political and economic antecedents and impact. Some topics suitable for inclusion in the Special Issue include:

•Company, national, industry and regional factors associated with

global economic crises

•Impact of the global economic crisis on emerging markets

•Impact of the crisis on select local and global industries

•How companies have managed the great recession

•Strategies to deal with structural and cyclical fluctuations in the global economy

•Do we need to change or adapt theories in light of new evidence?

The Editor of the Special Issue has intentionally kept the list of suggested topics short so as to stimulate creativity and encourage prospective authors to adopt a variety of perspectives when approaching this subject. The Special Issue will include a state-of-the art collection of papers relating what we can learn about impact of the crisis and business management in an international environment.

DEADLINE: The Special Issue will be published in 2010. Submissions should be sent no later than December 1, 2009.

All articles will be submitted to a process of peer evaluation, in accordance with the editorial policy of TIBR. They must conform with TIBR’s editorial policy, which is available at

www.thunderbird.edu/tibr

For questions regarding this special issue, authors are invited to contact: [email protected]

Submissions for this issue should be submitted electronically to TIBR at

http://mc.manuscriptcentral.com/tibr. Please indicate that the submission is for this special issue. IMPORTANT NOTE: Do NOT upload your title/cover page when submitting the manuscript.

###########################################

Suzy Howell

Managing Editor

Thunderbird International Business Review

1 Global Place

Glendale, AZ 85306 USA

P: 602.978.7659

F: 602.978.7001

http://mc.manuscriptcentral.com/tibrfor submissions to TIBR ____________________________________

Thunderbird School of Global Management

Educating Global Leaders

Who Create Sustainable Prosperity Worldwide

www.thunderbird.edu/tibr

Opportunity Clinic Workshop at OCAD Friday June 19, 2009

Recession-proofing your business, NGO, not-for-profit  for difficult economic times.

Learn how to not just survive, but thrive in a recession.

 Sponsored by the Canadian Innovation Center, Waterloo (www.innovationcenter.ca) 

The Opportunity Clinic© workshop by Walter Derzko  is based on the book-Hard Times Golden Opportunities 45 Great Business Scenarios to Show You How to Profit from Opportunities that Arise in Challenging Times. The workshop profiles the forty-five Opportunity Windows specific to the recession that are presented in detail in the book. These generic  Opportunity Windows, which can be used and applied by any business, not-for-profit, NGO or government are the product of the Opportunity Clinic© which enables entrepreneurs and managers to 1) navigate the uncertainties in economic downturns; 2) use the Clinic’s framework to scan for, design and evaluate emerging new opportunity spaces; and 3) thrive and not just survive in a recession.

The January19th 2009 issue of Business Week states:

“History has shown that crisis breeds opportunity… in times of turmoil, opportunities abound. But taking advantage of them will require [a new mindset], fast reflexes, an aggressive attitude, and serious changes [challenges] to the status quo … bold moves in bad times can pay off big.”

Difficult economic times present challenges, risks and threats for most business owners, and especially science and technology-based enterprises that might have disruptive or unproven technology. Decisions that made sense as little as six months ago may turn disastrous in this climate. Chaos, change and uncertainty may lead to turmoil, but at the same time they present opportunity windows or scenarios for entrepreneurs who are opportunity-sensitive and opportunity-savvy to act on the change.

Date: Friday June 19, 2009; 8:30am to 3:30pm

Location: Ontario College of Art and Design, (OCAD), 100 McCaul  St, Toronto

Cost: $149 plus GST

Online registration:  <http://www.innovationcenter.ca/events/opportunity-clinic-workshop>

Printable form: <http://innovationcenter.ca/files/upload/Opportunity_Clinic_workshop_registration.pdf>

For information: call 416-819-9667

Bio....Walter Derzko, is the founder of The Opportunity Clinic and president of Smart Economy in Toronto. He was Lateral-Thinker-in-Residence, McLuhan Program in Culture and Technology, School of  Graduate Studies, University of Toronto, 1990-1994 and the former director of the Idea Lab, Design Exchange, Toronto

Since 2005, he has been blogging on smart technologies, innovation and entrepreneurship, and has lectured and taught at Conestoga College and the University of Toronto, School of Continuing Studies and, in 2009, at George Brown College and the Master’s Program in Strategic Foresight & Innovation at OCAD. He is a consultant to private-sector companies, technology startups and government agencies and is often called upon for keynote addresses in areas of technology foresight, innovation, research, and future trends

2009 Entrepreneurship Division Doctoral Consortium

Announcement and Application Information

2009 Entrepreneurship Division Doctoral Consortium

 

The Entrepreneurship Division will sponsor its annual consortium for doctoral students during the 2009 annual meetings of the Academy of Management in Chicago, IL.  The Consortium brings together doctoral students and experienced faculty to discuss opportunities and challenges as scholars in the field.  This year, the program will include panels and discussions on first job and career path considerations, job and service expectations in different contexts, theory development, and a host of other topics.  Students will also receive detailed and constructive feedback on their work from an accomplished scholar in the field. The Consortium will begin at 8:30 a.m. on Friday, August 7, 2009 and continue until 5:00 p.m. on Saturday, August 8, 2009. 

The Consortium is open to doctoral students who have completed approximately two years of their Ph.D. program.  The ideal candidate will have finished his/her coursework and be engaged in preparing a dissertation proposal.  To apply, please submit the following four separate documents electronically to both Ted Baker ([email protected]) and Sharon Alvarez ([email protected]).

(1) An electronic file/Word document in which you furnish…

(a) Complete contact information (address, phone number, fax, and e-mail address),

(b) A statement of whether you have attended other doctoral consortia and, if so, which consortia and when, and

(c)   A statement saying that if you are admitted to the Consortium, you commit to attend ALL sessions (including dinner Friday night).

(2) A recommendation letter from your dean, department chair, or major advisor that verifies your (a) status/progress and (b) year in your school’s doctoral program.

(3) A current resume/CV.

(4) A “working paper.”  This paper must be on an entrepreneurship topic and is best a paper that you are moving towards publication or a detailed overview of your intended dissertation research.  The paper must NOT (a) exceed 35 pages (all inclusive), (b) be an accepted-for-publication/published manuscript, or (c) be a defended dissertation proposal.  The working paper is a key requirement for admission. 

Applications must be received on or before June 16, 2009.  Review of the application materials will begin on June 16, 2009.   The consortium will be limited to 30 Ph.D. students, with slots allocated based on application materials.  Questions should be sent to the Consortium Co-chairs, Ted Baker ([email protected]) and Sharon Alvarez ([email protected] ).

Please note: Acceptance into the consortium is via application only. Please do not register online.  We will notify all those accepted into the consortium, and they will be given a registration code to use.

 Ted Baker,Associate Professor; Management, Innovation & Entrepreneurship , College of Management , NC State University. Raleigh, NC 27695; 919-513-7943; [email protected]

9th International Entrepreneurship Forum in Istanbul;16th-18th September 2009

Dear colleagues, Greetings from Istanbul!  The 9^th IEF (International Entrepreneurship Forum) with the theme “Technology and Entrepreneurship: New Ventures and the Creative Use of Technologies” will be held in Istanbul, Turkey from 16^th to 18^th September 2009 jointly with Essex University and Sabanci University Faculty of Management.   The conference venue is the beautiful Conrad Hotel overlooking the Bosphorus (which recently hosted President Obama).

The conference aims to provide a platform for researchers, policy makers and practitioners in recognition of the increasing flow of ideas, resources and knowledge between businesses, institutions and public organizations. The particular role of technology in the generation of entrepreneurial opportunities for new venture creation, growth based on collaboration, networking and alliances, and possibilities of new organizational forms emerging from cross-border linkages are some of the themes we hope to explore. Several eminent speakers from across the globe have accepted invitations to the conference including Mr. Sergio Arzeni, Director of the Centre for Entrepreneurship, Small and Medium-sized Enterprises and Local Development from OECD, Professor Claudia Bird Schoonhoven, University of California, Irvine, Mr. Bulent Celebi, Founder and CEO of Airties and Mr. Pier Carlo Padoan, OECD Deputy Secretary General. You can find more information about IEF and the conference at http://www.essex.ac.uk/conferences/ief.

We look forward to your participation at this exciting conference.

Sincerely,

Nakiye Boyacigiller; Dean Sabanci University Faculty of Management

P.S. Please make sure to register early, especially for your hotel registrations.  We have a great deal from the Conrad, but only a limited number of rooms.

Developing a taxonomy of cultural/cross-cultural body language

I’m cross posting this query from an international management list server that I belong too. I strongly suspect that this would have intrigued Marshal McLuhan—Walter Derzko.

Romie F. Littrell from New Zealand asks:

"I am a member of another group that is attempting development of a taxonomy of cultural/cross-cultural body language and/or dimensions of body language. Of interest is, when you enter a new societal culture, where and how do you look for clues and queues to gain knowledge and understanding of that culture's body language?

As a start, considering semasiology and indexicality, seeking a useful number of dimensions when discussing body language, the human body moves in at least 4 dimensions,
1-Three in space,
2-the fourth being time.

However,
3-If you wish to consider the “personal space bubble” of body language, then this is a fifth dimension, distance from another person or other people.
4- Considering distance, one could add a sixth dimension, the relationship one has with the other(s).

A seventh dimension? public and private environments, where we would normally include the immediate local environment as defining appropriate body language, e.g, in a restaurant, driving/riding in a vehicle, in a meeting; we need to know appropriate body language in the environment to notice inappropriate body language (however, we could be watching just another confused foreigner). Those who are experienced at misdirection using body language, poker players, politicians, and courtroom lawyers, for example, still tend to have leaks due to the complexity of the systems; what are likely leaks?

This has been a peripheral area of interest for me, but I think from recent reading identifying a taxonomy of cross-cultural body language is feasible.

When responses trickle off, I'll summarise and broadcast."
 

Romie F. Littrell, BA, MBA,PhD, FIAIR, An fánaí fiáin
AUT Business School N.Z., [email protected]
http://www.romielittrellpubs.homestead.com/
http://www.crossculturalcentre.homestead.com/
Facilitator, Leadership & Management in Sub-Sahara Africa Conferences
Contents copyright Romie F. Littrell

 

Walter Derzko

Author of the soon-to-be-released book: Hard Times Golden Opportunities..about opportunity recognition in a recession/ depression.