entrepreneurs stay on top of the world - prof. hans crijns

ENTREPRENEURS STAY ON TOP OF THE WORLDEXPERIENCE VLERICK 2014

PROF. HANS CRIJNS, PARTNER

© Vlerick Business School

VLERICK BUSINESS SCHOOL

Vlerick Business School is to substantially contribute to the development of management and entrepreneurship in an International context by carrying out Academic Research - Knowledge Creation - and by offering high quality Management Education - Knowledge Transfer.

Vlerick Business School intends to actively contribute to networking amongst its current and former participants and to create forum action for the Management Community, Government and Society.

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ENTREPRENEURSHIP AND MANAGEMENT

3

EN

TR

EPR

EN

EU

RSH

IP

MA

NA

GEM

EN

T

Initialdiscovery

Opportunityrefinement

Marketmaking

Resourceacquisition

(New) co-ordination of(new) resources

Co-ordinationof oldresources/on-going activity

Discovery process

Exploitation process


Today’s businesses, especially the large ones, simply will not survive in this period of rapid change and innovation unless they acquire entrepreneurial competences.

Peter Drucker

1985 (!)

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AG - The Entrepreneurial Manager

2005

Bron: David Birch, MIT and Cognetics Inc., USA in ‘Dynamic Entrepreneurship in Central and Eastern Europe’, 1993.

Job creation Job destruction

Top 500

Big

Small

The economy as a thundercloud

“FORTUNE TOP 500” COMPANIES

1996

Mitsubishi 1

Mitsui 2

Itochu 3

Wal-mart 4

Microsoft 219

2006

137

348

328

1

41

“FORBES” MOST VALUABLE CO’S

October 2011

Apple1

Exxon Mobil 2

Nestlé 5

Microsoft 6

Google 12

General Electric 20

“Every morning in Africa, a gazelle wakes up.

It knows it must run faster than the fastest lion or it will be killed.

Every morning a lion wakes up.

It knows it must run faster than the slowest gazelle or it will starve to death.

It doesn’t matter whether you are a lion or a gazelle.

When the sun comes up, you better start running”.

- Thomas L. Friedman (in “The World Is Flat”) -


IMAGES OF “ENTREPRENEURSHIP”?


STUDENT’S INTEREST IN ENTREPRENEURSHIP

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7%

12%

10%

15%

19%

33%

10%

67%

Vlerick

USA

EU

B

Within 30years aftercompleting studies

Within 3years aftercompleting studies

Source: Ministry of Economical Affairs/Netherlands


ENTREPRENEURS ?

http://www.google.be/url?sa=i&rct=j&q=jbc&source=images&cd=&cad=rja&docid=9DniiFN6JJ9gVM&tbnid=sK6pGiSewdb9_M:&ved=0CAUQjRw&url=http://jobs.jbc.be/EN_jobsvacatures/achter-de-schermen/jbcteams.html&ei=cqIwUfryFIm-0QWl7YGIAg&bvm=bv.43148975,d.d2k&psig=AFQjCNGUKS0suVwi5QHhXd-4ixQ-PMQMPA&ust=1362228170912143

What is in your view a « good» entrepreneur?

Important characteristics?Conditions for a « good

idea » ?

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ENTREPRENEURIAL ATTRIBUTES

Initiative

Strong persuasive powers

Moderate rather than high risk-taking ability

Flexibility

Creativity

Problem-solving ability

Need for achievement

Imagination

High belief in control of one’s own destiny

Leadership

Hard work

N° 1 Predicting value : ????

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(G.B. Shaw)

“The reasonable man adapts himself to the world,

the unreasonable one persists in trying to adapt the … to ….

Therefore all progress depends on the …….. man”


FAILURE?

“The greatest glory in living lies not in never falling,

but in rising every time we fall."

(Nelson Mandela)

How entrepreneurial is your organisation/company/busin

ess unit/department… ?

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E.O. Perception “As is”?


ENTREPRENEURSHIP AND MANAGEMENT

21

EN

TR

EPR

EN

EU

RSH

IP MA

NA

GEM

EN

T

Initialdiscovery

Opportunityrefinement

Marketmaking

Resourceacquisition

(New) co-ordination of(new) resources

Co-ordinationof oldresources/on-going activity

Discovery process

Exploitation process

http://www.google.be/url?sa=i&rct=j&q=u+?&source=images&cd=&cad=rja&docid=aNJUBMb32wcgJM&tbnid=k9UtRM7vYMURuM:&ved=0CAUQjRw&url=http://www.ams-sourcing.com/AMSMembers/SystemeU.aspx&ei=J7heUZyLOOnJ0QXg6ICoBg&bvm=bv.44770516,d.d2k&psig=AFQjCNFwTYDbb6GR9zM3IoGcIGl-DQk51w&ust=1365248398123518


STRATEGY ENTREPRENEURIAL ORIENTATION

An entrepreneurial firm is one that engages in product-market innovation, undertakes somewhat risky ventures, and is first to come up with “proactive” innovations, beating competitors to the punch.A non-entrepreneurial firm is one that innovates very little, is highly risk averse, and imitates the moves of competitors instead of leading the way.

Entrepreneurial Orientation (EO) =

Risk Taking

Proactiveness

Innovativeness

22 AG - The Entrepreneurial Manager

Danny MILLER (Canada)


INNOVATIVENESS

“A willingness to introduce novelty through experimentation and creative processes aimed at developing new products and services as well as new processes”

Your score : 1 low 2 medium 3 high


PROACTIVENESS

“A forward-looking perspective characteristic of a marketplace leader that has the foresight to seize opportunities in anticipation of future demand”



RISK TAKING

“Making decisions and taking action without certain knowledge of probable outcomes; some undertakings may also involve making substantial resource commitments in the process of venturing forward”



LEO HEOStable

Reliable quality

Secure

Risk Averse

Proven Track Record

Continuous improvement

Opportunistic

Dynamic

Out of the box

Risk taking and sharing

New challenges

Drastic change

LEO VS HEO


INGREDIENTS OF E.O.

Imagination and creativity

Promoting creation, distribution and usage of knowledge

Supporting information and communication infrastructure

Social architecture

Under no circumstances will all innovations succeed!

=> Matching Internal capabilities & External opportunities

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DECLINE OF THE GENIUS

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Age % divergent thinking

3 -5 98 %8 -10 32 %13 -15 10 %

(from Ken Robertson, 2006)

+25 2 %

External environment

Ingredientsof EO

What does it require?

Entrepreneurial orientation

EO

Performance


WHAT DOES IT REQUIRE ? (LINK WITH PERFORMANCE !)

Devise a coherent strategic focus

Assessment of emerging entrepreneurial opportunities

Integration entrepreneurial pathways with existing activities

Timing of strategic decisions in line with environmental requirements ( = speed)

Excellence in project execution: 5% inspiration and 95% perspiration


THE PARADOX

“Nothing can start / be created without enthousiasm and creativity …,

… but nothing can last without systems and control”


FEEL LIKE SOME MORE?

• In search of new business Opportunities (start 2 October)

• SME Excellence (start 12 November)

• Executive Master Class Entrepreneurship & Innovation (start 22 October)

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ENTREPRENEURS,STAY ON TOP OF THEWORLD

HANS CRIJNS

Multi room 2

DEFINING YOUR PATHTO SUCCESS

INGE DECLIPPELEER

Lecture room 1

LEVERAGING YOURCUSTOMERS

MARION DEBRUYNE

Lecture room 5