Global firm IDEO incorporates human behavior into product design -- an innovative approach being taught at Stanford. Charlie Rose profiles the company's founder, David Kelley and "Design Thinking".
Global firm IDEO incorporates human behavior into product design -- an innovative approach being taught at Stanford. Charlie Rose profiles the company's founder, David Kelley and "Design Thinking".
Dean of Stanford Graduate Business School, Garth Saloner's mission has been to foster entrepreneurship across developing countries, which he believes will solve many of their global challenges. To achieve this, he has been promoting managers to become engines of growth for their economies.
THE WEEK caught up with Saloner to find out how innovation can be taught.
Why innovation, why India?
I think 'why India' is obvious. It is a rapidly growing economy. Why innovation? I have been coming to India for the last couple of years and I can see a shift in Indian business. Eight years ago, the conversation was about finding ways to match the emerging economies or how to meet their needs at a lower cost or more efficiently. Today, Indian businesses have become full-fledged and competitive. But, to be a global player, innovation is important. That is what we are targeting, and it is consistent with our own DNA as a business school.
How can innovation be taught?
Innovation can be taught [smiles], and we have learnt how to do that. Innovation requires three elements. First, you have to recognise the problem, and that needs analytical thinking. Business schools have been pretty good at that. Second, you have to come up with a solution, which is partly analytical and partly creative. I think business schools don't see themselves as teaching creativity. But, we have developed processes for creative thinking and on how to teach creative thinking. The third element is implementation, which is the biggest part of innovation. That is how you teach innovation, creativity and personal leadership.
When we think of innovation, it usually means putting two things together and coming up with a third one, something like jugaad. What is your take on this?
Karan Girotra is a professor at Insead in Fontainebleau, France. Serguei Netessine is the Timken Chaired Professor of Global Technology and Innovation at Insead.
With the Winter holiday shopping season, fashion apparel retailer Zara has been the focus of media attention — the New York Times recently profiled the innovative fast fashion business model pioneered by Zara, while Elizabeth Cline's book on the costs of fast fashion has climbed up the sales charts.
Despite this very recent popularity, the novel business model of Zara has gone virtually unnoticed for over 30 years, allowing Zara's parent company, Inditex, to grow from zero to almost $20B in revenues. Why wasn't it copied immediately? How can it be so sustainable and continue growing? The answer lies in a different type of innovation that Zara used: Business Model Innovation.
We have long been fans of the Zara business model...
"A group of business schools and business associations this year launched a postgraduate course offering formal, practical training for would-be managers of ex-Mafia concerns. The course, which included visits to see Mr Turchio and the San Paolo, aims to train a cadre of experienced managers to be deployed across Italy. “We need professional managers to come in not only to keep a business from closing but to develop it so we can demonstrate that when the state takes over from the Mafia, that doesn’t mean job losses,” says Marella Caramazza, director-general of Fondazione Istud, a business school located near Milan, which is leading the course along with two other business schools, Bocconi in Milan and Luiss in Rome. “We must show that when managed legally these can be profitable businesses that bring employment to the community.”
One of the most important keys to creating successful new products and services is finding a balance between invention and innovation. And this can best be found by making sure creative minds aren’t just coming up with cool ideas, but also by teaming up with strategists and business executives to understand their markets. So write Roger Martin, the dean of the Rotman School of Management at the University of Toronto, and James Milway, until recently executive director of the Institute for Competitiveness and Prosperity and the Martin Prosperity Institute at Rotman.
These are their conclusions in the recently published article “User-Driven Innovation: Putting an End to Inventing in the Dark,” which appears in the Fall 2012 issue of Rotman magazine. (The piece is not available for free online, but can be downloaded for a fee here.) Martin and Milway argue that companies need to also clearly understand the difference between “innovation” and “invention,” which the authors describe as two discrete concepts...
The world's 40 largest urban areas produce two-thirds of global economic output and 9 out of 10 patents:
3 Clues To How Geography Fuels Innovation, NPR, September 5, 2012
...What has surprised her is how immigrants who have marinated in the culture and ways of the valley have maintained their ties back home...
...Open-source textbooks, free for students to use and for professors to modify, are being developed by more companies and adopted in more classrooms. They may work hand-in-hand with the rise in free online courses to revolutionize the way we view—and pay for—higher education...
Criticism of modern corporate capitalism in the wake of the current economic crisis is reawakening interest in alternative ownership and governance models such as employee owned businesses (EOBs). EOBs are well suited for knowledge intensive firms where their combination of ownership and employee participation in decision-making fosters initiative and commitment. However, the relationship between ownership and employee participation that is central to the EOB advantage is potentially undermined by growth and complexity. This article reports on the results of a survey and archival study on UK-based EOBs that examines this issue. Taking advantage of the economic crisis, the study also examines EOB performance under adverse business conditions. Analysis of the archival data shows that EOBs lose their performance advantage over non-EOBs as they grow larger. EOBs, however, performed better over the entire business cycle, including the onset of the current economic crisis, demonstrating resilience and business sustainability relative to non-EOBs.
A stream of corporate scandals followed by a financial crisis has ignited a debate on the potential pitfalls of modern corporate capitalism.1,2 In wake of this debate, increasing attention is being paid to ownership and governance models that represent an alternative to the publicly listed corporation. One model in particular is attracting renewed interest: Employee Owned Businesses (EOBs). EOBs have been part of the economic landscape since the industrial revolution. Until recently, however, they were viewed as an interesting governance model with certain advantages, but also with intrinsic limitations when compared to the growth and dynamism of publicly listed corporations...
About the authors
Joseph Lampel is Professor in Strategy and Innovation at Cass Business School. His current research explores (a) impact of ownership structure on strategic decision-making and performance in employee-owned business (b) how organizations boost creativity under constraints, and (c) how organizations learn through rare events. He is the author with Henry Mintzberg and Bruce Ahlstrand of the one of the best selling strategy books: “Strategy Safari“, Free Press, and has published in top journals such as Strategic Management Journal, Organization Science, Journal of Management, Journal of Management Studies and Sloan Management Review.
Ajay Bhalla is Professor of Global Innovation Management at Cass Business School. He has specific research interest in (a) How Ownership & Governance Structure influences strategic decision making, with specific focus on Employee Owned and Family Businesses, and (b) What makes firms innovate better and what are the implications of pursuing innovation across boundaries for firm configuration. He has published in journals such as Academy of Management Perspectives, Journal of Operations Management, and Journal of World Business.
Pushkar P. Jha is a lecturer in strategy at the Newcastle University Business School. He has contributed to leading journals like Academy of Management Perspectives and International Journal of Project Management. He has also published in practitioner-oriented books like the Project Management Handbook of Knowledge and the Evolution of Business Knowledge. He has a keen interest in the areas of project-based learning, innovation and employee ownership models. The interest stems from his work on design and monitoring studies on cooperatives and enterprise development in some major funding initiatives of the World Bank and the UNFPA.
Do Start-Ups Lure Students Out of School?
July 20, 2012 (Bloomberg) -- Stanford Business School Dean Garth Saloner talks about innovation and entrepreneurship at the school. He speaks on Bloomberg Television's "Money Moves." (Source: Bloomberg)
The European Commission has today announced the final and biggest ever set of calls for proposals for research under its Seventh Framework Programme (FP7). In total, €8.1 billion will support projects and ideas that will boost Europe's competitiveness and tackle issues such as human health, protecting the environment and finding new solutions to growing challenges linked to urbanisation and managing waste. The funding – which is open to organisations and businesses in all EU Member States and partner countries - makes up the lion's share of the EU's proposed €10.8 billion research budget for 2013...
But what if firms could raise money from anyone? Fred Wilson, a prominent venture capitalist, calculates that if Americans used just 1% of their investable assets to crowdfund business they would release a $300 billion surge of capital. But will regulators, who worry about Joe Sixpack being ripped off by unscrupulous fund-raisers, allow the crowd in? The Securities and Exchange Commission (SEC) is trying to come up with rules to implement the (American) JOBS Act. Some fear that it will impose onerous requirements on firms raising equity from the crowd.
June 16th "GO BEYOND" IE Business School
Madrid, 10:30 am, in Spanish.
El professor David Bach, IE Business School Dean of Programs will present the new MBA part-time (Global MBA+) specially adapted to you.
IE Business School's Global MBA+ and Executive MBA+ allow you to personalize your MBA experience according to your personal needs.
www.redinnova.com/en/, 14/15 June 2012.
is one of "Supporters" (first in list at end of page).
The 20 finalists for the 4th BBVA Open Talent & Red Innova competition have been chosen. 500 projects from Spain and Latin America were submitted for the “Technology and innovation” and “Financial services” categories of this competition. This prestigious international programme for entrepreneurs and start-ups supports development of innovative technology projects.
The projects chosen will be presented to a specialist jury at Red Innova 2012, which will be held at Madrid’s Circo Price on 14 and 15 June. The entrepreneurs will have an opportunity to explain their projects to leading businesspeople and others interested in the digital world.
This year, the 20 finalists have been divided into two categories:
Technology and innovation
- MoveinBlue (Spain)
- Wideoos (Argentina)
- TeDa! GalaxyMovil (Colombia)
- Kalakai (Chile)
- Clic Educa (Chile)
- Buguroo Offensive Security (Spain)
- AgentBot (Argentina)
- OxoBox (Argentina)
- Energywe (Spain)
- Socialare (Argentina)
- Meddoc (Colombia)
- Gamisfaction (Spain)
- StartBull (Colombia)
- MProjects Soluções em Informática Ltda (Brazil)
- Bolsa.com (Spain)
- BULL4ALL (Spain)
- Ventura MatchMakers (Colombia)
- RinPay (Spain)
- Ahorro.net (Spain)
- Mykey Acceso Autorizações Virtuais Ltda (Brazil)
You can find out more about these projects on the BBVA Innovation Centre website.
BBVA will give 100,000 euros to two initiatives, in return for a 10% holding in their share capital. The two winners will be announced at the end of Red Innova. Through this competition, the Bank is demonstrating its commitment to technology-based projects and talent. Through programmes such as Open Talent, BBVA supports internationalisation and the development and visibility of projects and companies committed to new business models for banking, technology and the Internet.
Tel: +34 91 374 01 16
Red Innova is an international meeting place for innovation, the Internet, creativity and the entrepreneurial spirit where Latin America meets the world. With presentations on the latest issues, Red Innova is an essential opportunity for finding out about the future of the digital world, developing international networking opportunities and getting to know leaders in technology, innovation and Internet.
Over 2000 visitors from Europe, Latin America and the USA will be able to attend presentations and workshops on the latest tools, new business projects, international investment opportunities and international success stories; there will also be a session dedicated to leading developers.
BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid leadership position in Spain, it is the largest financial institution in Mexico and it has leading franchises in South America and the Sunbelt Region of the United States. Its diversified business is biased to high-growth markets and it relies on technology as a key sustainable competitive advantage. BBVA ranks among the leading eurozone banks in terms of ROE and efficiency. Corporate responsibility is inherent to its business model, and it promotes inclusiveness and supports research and culture. BBVA operates with the utmost integrity, long-term vision and best practices, and is included in the main sustainability indexes.
Adrian Wooldridge (Management Editor, The Economist), Alexander von Gabain (Chair of the European Institute for Innovation and Technology - EIT and Santiago Iniguez (President of IE Business School and President of IE University) gave opening statements at the EFMD April Roundtable: Management Skills for Growth. A full report on the roundtable is available here and video highlights are below. Readers are also invited to comment on the EFMD Call To Action “Management Capacity: The Missing Link to set up value creation and innovation in Europe” by mid June 2012.
Three key suggestions concluded from this roundtable are:
The Call to Action addresses key issues such as the inclusions of management education in scientific and engineering studies, supporting entrepreneurial mind-sets and values from school-level onwards, and providing community research funding for important fields such as design thinking, open innovation and organisational sociology. This paper is to be used as the essential basis for EFMD EU Affairs’ interactions with the EU policy makers as well as relevant consultation and networking activities in the coming future. You are invited to comment on the EFMD Call to Action, please send your comments and feedback to: email@example.com
Martine Plompen, Associate Director, Research & Surveys Unit, EFMD
Jocelyne Wang, Manager, EU Affairs Unit, EFMD
Ernst & Young: Toward a smarter and streamlined innovation policy in the EU "Growing beyond Summit" (PDF)
• 27% are aware of the European Commission’s efforts to promote innovation
Few senior business leaders across Europe are aware of the European Union’s significant investment in innovation in recent years according to a study launched today by Ernst & Young and the Centre for European Policy Studies, The Power of Simplicity. The study surveyed 680 business leaders from 15 EU Member States and found that 73% of respondents, many of whom have to make the key decisions about private sector investment in Europe such as presidents and chief executives, were not aware of EU policies to improve innovation. In addition, 69% believe innovation policy in the EU has not matched industry needs.
Welcome to the new Global Peter Drucker Forum Blog.
As President of the Peter Drucker Society Europe I would like to introduce myself with this short bio. While I will be the main author I will also invite distinguished guest authors to contribute. The blog will cover key management subjects mainly related to the Drucker Forum.
When we discuss management as a key issue for society these days the word has a mostly negative connotation – we tend to talk about management in terms of the damages that short-termism, off-shoring, greed and bad management (in particular in the financial services sector) are inflicting on society.
The theme “Management Skills for Growth” pointed to a great opportunity. Opening statements came from Adrian Wooldridge (Management Editor, The Economist), Alexander von Gabain (Chair of the European Institute for Innovation and Technology – EIT) and Santiago Iniguez (President of IE Business School and President of IE University). You can access the Live Tweets from the session via the Drucker Forum Twitter @GDruckerForum and via the hashtag #ebs2012.
The discussion focused on how to increase innovation as an aid to moving Europe back to growth. Alexander von Gabain made the point that most Europeans seem to believe that top-class research will per se lead to innovation. Rather, he emphasised the managerial and entrepreneurial capacity that is essential to transform research results into value.
There was a strong feeling in the meeting that European policy makers had a blind spot in this field. While it may be right to pump billions into R&D, they do not seem to realise that without a proper focus on building management and entrepreneurial capacity in our societies we will not get the best return from these huge investments.
Management capacity is the “missing link” in policy makers’ perception of how to achieve innovation and growth. According to Adrian Wooldridge, management sciences must be recognised as an essential field of research while Santiago Iniguez showed how business schools are in the process of reinventing themselves to become key players in the “knowledge triangle” (business, education and research).
A Call to Action resulting from the EBS round table addresses key issues such as the inclusions of management education in scientific and engineering studies, supporting entrepreneurial mindsets and values from school-level onwards, and providing community research funding for important fields such as design thinking, open innovation and organisational sociology.
With Capitalism 2.0 we have chosen a theme essential to the future of our society. A changing capitalism must be powered by evolving management practices – let us call those Management 2.0. An increased recognition of the importance of good and effective management practice, not just within a single organisation but for all society, will lead to a new synergy between public, semi-public and the private sectors in the field of management, innovation and entrepreneurship.
I will keep you posted in future blog entries about the next developments in the European level discussion.
Your comments will be highly appreciated.
President Peter Drucker Society Europe
NPR article, 23 April, 2012, "America's 12 million amateur innovators"
In his latest New York Times Magazine column, Adam Davidson reports that independent inventors are creating products faster than ever, but few are succeeding at patenting and selling their work. We asked Eric Von Hippel of MIT to explain why so many Americans are inventing new products at home when the odds of commercial success are stacked against them. His response is below.
(EvH): Nearly 12 million Americans create or modify products they use at home, according to our research. But the vast majority – more than 90 percent – will never get a patent on their innovations. So what motivates them?
The innovators we studied (their innovations may or may not meet the criteria for inventions) are user innovators – a very different breed than independent inventors...
...In one compilation of studies by him of 1193 commercially successful innovations across nine industries, 737 (60%) came from customers ("lead users")..
Most widely cited paper: "The Promise of Research on Open Source Software", Georg von Krogh; Eric von Hippel, Management Science, 52, 7. Jul 2006.
"The guru of customer-centered innovation blazes new ground in this masterpiece. He shows managers how to get the most out of a world where customers and communities pioneer new ideas and reconfigure what they buy. Other books tell you that co-creating innovations with customers is important. Von Hippel tells you how to make it happen." Philip Anderson, INSEAD Alumni Fund Professor of Entrepreneurship, and Director, International Centre for Entrepreneurship
"In a concise 200 pages, von Hippel traces the empirical studies on user innovation, determining that between 10 and 40 percent of users engage in developing or modifying products. These 'lead users' are ahead of the curve and often create improvements that other users will want to share." HBS Working Knowledge
"Future Works" (Wikipedia)
Professor Von Hippel’s plans for the future include getting concepts into government statistics to measure how many users innovate and what types of people do this type of work.
Then he would like to show that most innovation is still user innovation. He finds it interesting that in the UK, 8% (3-4 million people) of consumers modify the product that they use. He also noted that hospitals have the right to develop and use ideas as long as they do not sell them and he would like to get the institutional review board to approve development in hospital use. In this way, doctors would do innovation first, and then companies would harness this innovation in order to develop. He stressed the fact that the number of consumers modifying products and thereby innovating outweighs the number of people doing this in companies! We should be able to harness this natural innovation and use it to our benefit to market!
It seems that nearly every week we report on groundbreaking news from TED, the global nonprofit known for its “Ideas Worth Spreading”. Today, it announced its latest efforts in the education space: a dynamic TED-Ed site with new teacher tools for customized learning experiences....
“The new website is all about what teachers and students can do with those videos,” explains TED-Ed catalyst Logan Smalley. “The goal of TED-Ed is for each great lesson to reach and motivate as many learners as possible. The new website goes a step further, allowing any teacher to tailor video content, create unique lesson plans, and monitor students’ progress. By putting this new technology to use, we hope to maximize time in class and give teachers an exciting tool for customizing – and encouraging – learning.”
...One of the platform’s major features is the ability for teachers to “Flip” video content — from YouTube or the TED-Ed platform — and create tailored lesson plans. The term “Flip” is a nod to a method of teaching called Flip Teaching...(The role of the classroom teacher is then to tutor/coach the student when they become stuck, rather than to impart the initial lesson)
If you've not yet heard of telemedicine or think that it's not a great way to deliver quality health care, you may want to read this. Telemedicine, made possible by the availability of mobile networks, is revolutionizing health care. But not in the U.S.
You have to look to India, where telemedicine is already widely used in the delivery of health care — and is saving lives even in the most rural corners of the country...
The goal of the Health Data Initiative is to be the NOAA of health data.
One of the most important open government initiatives started over the past couple of years is the Health Data Initiative. Unlike many open government data initiatives, which throw open various datasets, and just hope they will become useful, the Department of Health and Human Services (HHS) has done a great job of reaching out to developers to build great healthcare applications.
The idea is to make data from the vaults of HHS (and other sources) available in electronic, machine-readable, downloadable, easily accessible form, and promote its availability to entrepreneurs and innovators (via meetups, challenges, and codeathons) who can turn it into all kinds of applications and services that can help improve health and create jobs at the same time.
This is a great example of what I've called "Government as a platform," in which government provides key capabilities that are then expanded upon by the private sector for delivery to the public in a variety of ways. We're all familiar with this model for weather data. The National Oceanic and Atmospheric Administration (NOAA) launches weather satellites, tracking buoys, and all kinds of other tools for measuring weather, and releases the data to be delivered by commercial companies via television, web applications, and smartphones. The goal of the Health Data Initiative is to be the NOAA of health data.
Machine-readable data resources available from HHS include health care provider quality information, health and human service provider directories, community health performance statistics, the latest and greatest medical knowledge from the National Library of Medicine, Medicare claims data in a variety of forms, and much more.
Many companies have built new or upgraded products and services using this data that are already helping millions of Americans.
Each year, the initiative hosts a conference (the "Health Datapalooza") in June to feature the latest and best open health data applications. The deadline for applications for this year's event is March 30. There's more information here.
Roger L. Martin, Chairman of Task Force on Competitiveness, Productivity and Economic Progress
Dean, Joseph L. Rotman School of Management, University of Toronto
I am pleased to present Working Paper 15 of the Institute for Competitiveness & Prosperity. In this Working Paper, we examine the importance of small business and entrepreneurship to our prosperity in Ontario and Canada...
New research by the Institute for Competitiveness & Prosperity shows that public policy should focus on truly entrepreneurial firms to strengthen innovation capabilities in Ontario and Canada
Smaller businesses are the backbone of Ontario’s and Canada’s economies. But not all smaller businesses are the same. Our economy would be better served if public policy focused on assisting the relatively small number of entrepreneurial high-growth, high-impact firms that will drive innovation, productivity, and prosperity. Thus the emphasis in taxation and broader economic policy should shift from smaller to growing firms.
These are the key conclusions of the Working Paper, Small business, entrepreneurship, and innovation
The trend toward “active learning” may overthrow the style of teaching that has ruled universities for 600 years.
Wired Campus, of The Chronicle of Higher Education, February 6, 2012
The recent announcement that Massachusetts Institute of Technology would give certificates around free online course materials has fueled further debate about whether employers may soon welcome new kinds of low-cost credentials. Questions remain about how MIT’s new service will work, and what it means for traditional college programs...
Q. You refer to what’s being given by MITx as a certificate. But there’s also this trend of educational badges...
A growing body of evidence from the classroom, coupled with emerging research in cognitive psychology and neuroscience, is lending insight into how people learn, but teaching on most college campuses has not changed much, several speakers said here at Harvard University at a daylong conference dedicated to teaching and learning...
It is almost obligatory for business schools to trumpet their love of innovation, but Spain’s IE has a better claim than many for trying fresh approaches to business education.
Established in 1973 in Madrid, and now ranked as one of Europe’s leading schools, IE was among the first to offer an executive MBA 20 years ago, and later spearheaded a move into online education.
The school’s international reputation now helps it attract about 2,000 students from more than 90 countries each year, and it has built an alumni network of more than 40,000 with links to 25 offices spread from India to Chile.
“When we ask our students why they chose IE, they often say it is entrepreneurialism first, and diversity second,” says Santiago Íñiguez de Onzoño, the dean. “We have one of the highest-diversity environments, not just in terms of the numbers of passports, but in terms of gender, culture and different visions of the world.”
These aims are well demonstrated by IE University’s cross-disciplinary approach to teaching law, architecture and business and by the combined executive MBA programme with Brown University in the US, which sees students take courses in social sciences, literature and philosophy...
The European Cluster Observatory is an online platform that provides a single access point to information and analysis of clusters and cluster policy in Europe. Originally launched in 2007, the Observatory is now offering a range of new services. It provides data and analysis on clusters and competitiveness, a cluster library, and a classroom for cluster education.
The European Cluster Observatory also produces analysis and reports on regional competitiveness conditions, transnational cluster networks, clusters in emerging industries, and studies on better practices in cluster organisations. It provides information about clusters, cluster initiatives, and cluster policy throughout 32 European countries.
The Observatory is aimed at three main target groups:
The European Cluster Observatory is managed by the Center for Strategy and Competitiveness (CSC) at the Stockholm School of Economics, and is financed by the European Commission, DG Enterprise and Industry, under the Europe INNOVA initiative, and the Competitiveness and Innovation Framework Programme (CIP) (€ 3621 million), which aims to encourage the competitiveness of European enterprises.
Live Plenary 1 (also live feed of Plenary 2)
December 9, 09h15
Dec 7, 2011 Video: A quick chat with…Brent Hoberman
WSJ, Nov 21, 2011, Video: LinkedIn’s Hoffman Says U.K. Has Woken Up to Entrepreneur Culture
FastCompany, Nov 17, 2011 LinkedIn Cofounder Reid Hoffman In The U.K.: Silicon Valley Can Be Exported (svc2uk.com)
Brookings Institution Wikipedia, Foreign Policy magazine's No.1 US Think tank 2009.
Press release of the United States Hispanic Chamber of Commerce, November 10, 2011
The Brookings Institution will undertake unprecedented levels of research and analysis into metropolitan economies. Findings from the Initiative will serve as a platform for a series of joint forums, which will help promote the exchange of ideas and best practices for delivering jobs and development in cities at home and abroad. This work will provide U.S. metropolitan leaders with tangible ideas for how to expand their competitive position, building on policy and practice innovations from across the nation and around the world...
...The first lesson is that commercial success and impact is more about innovation than about invention...
...The second lesson is that successful innovation actually means trying things that are unproven – optimally that have never been tried before...
...“Social enterprises generate a process of innovation in society by addressing problems that are neglected by the other institutions in our society, mainly the governments and markets and to some extent the social charity sector”...
...But social entrepreneurship shouldn’t just be written off as a comfortable add-on to the activities of established profit-oriented companies. It’s a strategy for value creation in its own right and a phenomenon that is increasingly becoming a focus of academic research...
...“Regulatory frameworks tend to keep things apart and regulate separately (things) that actually social entrepreneurs blend,”...
Development with Impact: Innovation and Partnerships, Nov 03, 2011 | By Bill Gates
Development with Impact: Innovation and Partnerships from The Gates Notes
In a report presented to world leaders at the G20 summit in Cannes, France, Bill outlined recommendations to encourage innovation and new partnerships that increase the value and delivery of development aid. Read the report and download a copy (PDF)...
Why should a person who wishes to bring the world a better mousetrap be able to know that he can get wealthy if he does it, while the person who wants to end hunger must know that he cannot?
Dan Pallotta is an expert in nonprofit sector innovation and a pioneering social entrepreneur. He is the founder of Pallotta TeamWorks, which invented the multiday AIDSRides and Breast Cancer 3-Days. He is the president of Advertising for Humanity and the author of Uncharitable: How Restraints on Nonprofits Undermine Their Potential.
Book on Amazon, (August 24, 2009) R. Glenn Hubbard and William Duggan, two leading scholars in business and finance
Over the past twenty years more citizens in China and India have raised themselves out of poverty than anywhere else at any time in history. They accomplished this through the local business sector—the leading source of prosperity for all rich countries. In most of Africa and other poor regions the business sector is weak, but foreign aid continues to fund government and NGOs. Switching aid to the local business sector in order to cultivate a middle class is the oldest, surest, and only way to eliminate poverty in poor countries.
The key finding: culture is key to innovation success, and its impact on performance is measurable.
Every year since 2005, Booz & Company has conducted the Global Innovation 1000 study, which investigates the relationship between how much companies spend on R&D and their overall financial performance — and every year, we reinforce the conclusion that there is no correlation between the two.
Our findings and further analysis of what makes the most successful innovators great led The Economist to call the Global Innovation 1000 "the most comprehensive assessment of the relationship between R&D investment and corporate performance," and Tom Peters praised it as a "provocative, research-based article that is sure to get you thinking."
Since its inception, the study has been mentioned in more than 150 publications in 27 countries, including The New York Times, The Wall Street Journal and the Financial Times, and was recognized by the Innovate Forum, the Product Development & Management Association, and the National Academy of Sciences & Engineering.
...The voting rights associated with each share would be that share times the number of days it has been held by that shareholder...
...A time-based voting system would cumulate the shares from the longest held shares to the shortest and determine the purchase price of the median share. That median purchase price (let's assume $60/share for the above company) would define the share price on which management should feel obligated to earn a return above the cost of equity (let's assume 10%, so $6/share). This definition of shareholder value creation would help keep management from taking extreme and risky action to earn a return on the shareholder who has just purchased the last share at the highest price. This would re-establish the focus of management on creating long-term value for the shareholders who are willing to hold their shares for the long run — a perfect match.
Via @CambridgeJBS, 13 September, 2011
Research by Cambridge Judge Business School's Centre for Business Research (CBR) explodes three major myths that have underpinned innovation policy thinking in the UK and elsewhere for decades and identifies the importance of 'lead customers' in the innovation process. CBR Senior Research Associate David Connell explains why the American Small Business Innovation Research (SBIR) programme is the model to follow...
is a United States Government program, coordinated by the Small Business Administration, in which 2.5% of the total extramural research budgets of all federal agencies with extramural research budgets in excess of $100 million are reserved for contracts or grants to small businesses. In 2010, that represented over $1Billion in research funds. Over half the awards are to firms with fewer than 25 people and a third to firms of fewer than 10. A fifth are minority or women-owned businesses. A quarter of the companies in FY10 were first-time winners
For a brief moment during a recent day of volatile trading on Wall Street, Apple overtook Exxon Mobil as the most valuable company on the stock market. This was quite an accomplishment, considering Exxon’s giant global footprint in energy exploration, extraction and sales, and that Apple nearly went out of business in the mid-1990s. The turnaround that delivered Apple to the pinnacle of the technology business began in 1997, when Steven P. Jobs became CEO of the company he co-founded but was ousted from in 1985. How did the company’s ascendance come about?...
Top-20 Business School Aims to Extend Its Global Reach With Internet M.B.A.
The University of North Carolina's Kenan-Flagler Business School is taking its brand online.
While online programs are still mostly seen as the purview of for-profit schools, like the University of Phoenix and Capella University, UNC is hoping to change that image.
The business school this Monday launched an online M.B.A. program with 19 students, dubbed MBA@UNC, that will offer the same core curriculum as its regular full-time M.B.A. program. It is the first online program of its kind from a top-20 U.S. business school.
Nitin Nohria celebrated his first anniversary as dean of Harvard Business School on July 1, making it a fitting time to reflect on the considerable changes underway at the venerable b-school. From major innovations to its curriculum and shifts both subtle and major within the class of 2013 profile, to huge surprises—some might say upsets—in M.B.A. admissions, the past 12 months have been anything but business as usual...
Clarkson University has a new model for attracting and developing young entrepreneurs: free tuition for a stake in the company
In this year's Energy for Tomorrow competition, graduate students from top business, environmental, public policy and engineering schools from around the globe were invited to discuss energy innovations in the urban environment and how this will affect consumer behaviour.
TIME, FORTUNE and Shell would like to thank all the participants...
Includes rankings by variables:
Business Environment - time/cost to start a business
Quality of research institutions
Knowledge - Creation, Impact, Diffusion
Hardcover: 512 pages
Publisher: Jossey-Bass; 1 edition (July 26, 2011)
"The language of crisis is nothing new in higher education—for years critics have raised alarms about rising tuition, compromised access, out of control costs, and a host of other issues. Yet, though those issues are still part of the current crisis, it is not the same as past ones. For the first time, disruptive technologies are at work in higher education. For most of their histories, traditional universities and colleges have had no serious competition except from institutions with similar operating models. Now, though, there are disruptive competitors offering online degrees. Many of these institutions operate as for-profit entities, emphasizing marketable degrees for working adults. Traditional colleges and universities have valuable qualities and capacities that can offset those disruptors' advantages—but not for everyone who aspires to higher education, and not without real innovation. How can institutions of higher education think constructively and creatively about their response to impending disruption?"
Management Education for Tomorrow (MET) Fund
Created in 2008 with a US$10 million commitment, the GMAC® Management Education for Tomorrow (MET) Fund formalizes and enhances the Graduate Management Admission Council's long-standing commitment to investing in strategic philanthropic initiatives that benefit business and management education globally.
Ideas to Innovation (i2i) Challenge
The GMAC MET Fund Ideas to Innovation (i2i) Challenge seeks to find the world’s best ideas for improving graduate management education and then to fund the top proposals, turning the best ideas into active innovation.
So how do we support, nurture and encourage entrepreneurs? Start an entrepreneurial hub, tap into your businesses’ talent pool and match business leaders of today with the emerging entrepreneurs of tomorrow.
"Since its inception in 1996 the Global Award for Entrepreneurship Research (on Wikipedia) has become firmly established as the foremost global award for research on entrepreneurship. This Prize is awarded annually and it consists of the statuette "The Hand of God”, created by Swedish Sculptor Carl Milles, and a Prize sum of 100,000 euros".
According to the statutes the Award should be given to “a person who has produced scientific work of outstanding quality and importance, thereby giving a significant contribution to theory-building concerning entrepreneurship and small business development, the role and importance of new firm formation and the role of SMEs in economic development"
2011 award winner Steven Klepper presented 2011-06-16.
...In looking at the evolution of industries, Klepper explores regularities in the time paths of entry of new producers, exit of incumbent firms, industry output and price, and the rate of product and process innovation. To explain these regularities, he develops theories that feature differences in firm capabilities and the advantages of large firms in appropriating the returns from their innovative efforts. The theories are also used to explain differences in firms' innovative efforts, the composition of their innovative effort and their innovative success...