ENTREPRENEURSHIP AS EMPOWERMENT & TRANSFORMATION Michael H. Morris, Ph.D. George and Lisa Etheridge...
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Transcript of ENTREPRENEURSHIP AS EMPOWERMENT & TRANSFORMATION Michael H. Morris, Ph.D. George and Lisa Etheridge...
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ENTREPRENEURSHIP AS EMPOWERMENT & TRANSFORMATION
Michael H. Morris, Ph.D.
George and Lisa Etheridge Professor
Academic Director of Entrepreneurship Program
Warrington College of Business Administration
University of Florida
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“The reasonable man (woman) adapts himself (herself) to the world. The unreasonable one persists in trying to adapt the world to himself (herself). Therefore, all progress depends on unreasonable men (and women).”
-George Bernard Shaw
University of Florida Imagine > Believe > Create
![Page 3: ENTREPRENEURSHIP AS EMPOWERMENT & TRANSFORMATION Michael H. Morris, Ph.D. George and Lisa Etheridge Professor Academic Director of Entrepreneurship Program.](https://reader030.fdocuments.in/reader030/viewer/2022032600/56649da15503460f94a8e1e0/html5/thumbnails/3.jpg)
An entrepreneurial revolution
• Up to 1 million new for profit and non-profit ventures a year in U.S.
• Over 80% of the new jobs• New product/service introduction rate• New patent issuance rate• Rate of wealth creation• Women and minorities now lead the pack• And it’s a global revolution
University of Florida Imagine > Believe > Create
![Page 4: ENTREPRENEURSHIP AS EMPOWERMENT & TRANSFORMATION Michael H. Morris, Ph.D. George and Lisa Etheridge Professor Academic Director of Entrepreneurship Program.](https://reader030.fdocuments.in/reader030/viewer/2022032600/56649da15503460f94a8e1e0/html5/thumbnails/4.jpg)
The revolution…
It is an age of omnipresent entrepreneurship: more choices, more innovation, more technological advances, more change, more opportunity, more possibilities
University of Florida Imagine > Believe > Create
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Entrepreneurs are the heroes---they make the world livable for everyone else…
-they are the ones who question, who challenge
-they are the ones who take responsibility for change
-they are what the human spirit is all about
-they are the hope for a better life, for the end of poverty, for the destruction of discrimination---
-they are the quiet revolutionaries
…entrepreneurship is the most empowering, the most democratic, the most freedom-creating phenomenon is the history of the human race
University of Florida Imagine > Believe > Create
![Page 6: ENTREPRENEURSHIP AS EMPOWERMENT & TRANSFORMATION Michael H. Morris, Ph.D. George and Lisa Etheridge Professor Academic Director of Entrepreneurship Program.](https://reader030.fdocuments.in/reader030/viewer/2022032600/56649da15503460f94a8e1e0/html5/thumbnails/6.jpg)
The at-risk student is the student that is not prepared for the entrepreneurial age
Entrepreneurship is the ultimate source of advantage
University of Florida Imagine > Believe > Create
![Page 7: ENTREPRENEURSHIP AS EMPOWERMENT & TRANSFORMATION Michael H. Morris, Ph.D. George and Lisa Etheridge Professor Academic Director of Entrepreneurship Program.](https://reader030.fdocuments.in/reader030/viewer/2022032600/56649da15503460f94a8e1e0/html5/thumbnails/7.jpg)
So what does this mean for the focus of your programs?
• business basics, the mechanics of starting a venture, and borrowed content
vs.
• entrepreneurship as a distinct discipline with a distinct content
vs.
• entrepreneurship as a way of thinking and acting
University of Florida Imagine > Believe > Create
![Page 8: ENTREPRENEURSHIP AS EMPOWERMENT & TRANSFORMATION Michael H. Morris, Ph.D. George and Lisa Etheridge Professor Academic Director of Entrepreneurship Program.](https://reader030.fdocuments.in/reader030/viewer/2022032600/56649da15503460f94a8e1e0/html5/thumbnails/8.jpg)
What’s your relative focus? Business basics Entrepreneurship basics Entrepreneurial thinking & acting
Setting up the books Entrepreneurship defined Opportunity alertness
How to sell The entrepreneurial process Risk mitigation
Hiring of staff Characteristics of entrepreneurs Resource leveraging
Forms of enterprise Types of entrepreneurs Conveying a vision
Cash flow management Contexts for entrepreneurship Innovating
Formulating strategy Innovative business models Passion
Market analysis Entrepreneurial cognition Persistence and tenacity
Setting up operations The nature of opportunity Creative problem-solving
Pricing Ethics and entrepreneurship Guerrilla behavior
Promotion & advertising Seed and venture capital Optimism
Financial statements Lean start up Learning from failure
Franchising Entrepreneurial orientation Effecting change
Management control Entrepreneurship and society Adaptation
Cost analysis Exit strategies Resilience
Protecting IPUniversity of Florida Imagine > Believe > Create
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The entrepreneurial mindset
Attitude- You can affect change- There is a better way- Opportunities are everywhere- Embrace innovation, change & growth- Failure is learning
Behavior- Act on opportunity- Continuously innovate- Persevere- Leverage resources - Act as a guerrilla - Mitigate risks
Professionally
-Entrepreneuring in different ways over one’s career cycle
corporate E
social E
public sector E
family business E
E in a profession
In One’s Life
- In the family
- In church activities- In communityinvolvement
-In personal relationships
- In managing personal finances
- In dealing with personal change
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I think we have to go further…
• More than simply ‘a process’
• More than ‘opportunity recognition and exploitation’
• Fire in a bottle
• Unleashing the potential of E
entrepreneurship as empowerment entrepreneurship as transformation
University of Florida Imagine > Believe > Create
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Empowerment
“The process of increasing the capacity of individuals or groups to make choices and to transform those choices into desired actions and outcomes”
-World Bank
• To create your own job• To create your own future• To create your own wealth• To create your own sense of pride and self-worth• To create your own identity• To create your own facilities and operations• To create jobs for others• To create your own contribution to the world• To create your own ability to give back
University of Florida Imagine > Believe > Create
![Page 12: ENTREPRENEURSHIP AS EMPOWERMENT & TRANSFORMATION Michael H. Morris, Ph.D. George and Lisa Etheridge Professor Academic Director of Entrepreneurship Program.](https://reader030.fdocuments.in/reader030/viewer/2022032600/56649da15503460f94a8e1e0/html5/thumbnails/12.jpg)
Transformation
“An underlying change in the appearance, character, form or structure of someone or something”
Entrepreneurs are:• transforming markets• transforming business practices• transforming industries• transforming oneself• transforming families • transforming communities• transforming economies
University of Florida Imagine > Believe > Create
![Page 13: ENTREPRENEURSHIP AS EMPOWERMENT & TRANSFORMATION Michael H. Morris, Ph.D. George and Lisa Etheridge Professor Academic Director of Entrepreneurship Program.](https://reader030.fdocuments.in/reader030/viewer/2022032600/56649da15503460f94a8e1e0/html5/thumbnails/13.jpg)
Realizing the power of E in our programs
• Empowering and transforming students
• Empowering and transforming the campus
• Empowering and transforming our communities
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Realizing the power of E in our programs
7 C’s: - concept for your program
- convictions that drive your approach
- competencies being developed
- connections being leveraged
- creative edge in program design
- challenging convention in program implementation
- concept for yourself
University of Florida Imagine > Believe > Create
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What’s your core program concept?
• The center as an administrative unit• The center as an academic unit• The center as a venture• The center as an innovation factory• The center as a platform for empowerment and
transformation
University of Florida Imagine > Believe > Create
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What are your convictions?
• Every student an entrepreneur• Total student immersion—more learning occurs outside
the classroom• Students want to be part of something bigger than
themselves• Students really can change the world• Students really can start things (getting past execution
phobia)• Students really can run components of your program• Students really can consult to entrepreneurs
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Entrepreneurial competencies• Recognizing opportunity• Assessing opportunity• Mastering your creativity• Leveraging resources• Guerrilla skills• Mitigating and managing risk• Planning when nothing exists• Innovation---developing ideas that work• Formulating and conveying a compelling vision• Building and exploiting networks• Ability to maintain focus yet adapt• Tenacity and resilience• Implementation of something novel or newUniversity of Florida Imagine > Believe > Create
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Making connections: the components of an E program
Curriculum and Degree Programs
Co-Curricular Student
Programming
Cross-campus & Interdisciplinary
Initiatives
Engagement with Entrepreneurial
Community
Research Agenda
University of Florida Imagine > Believe > Create
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Connecting the dots
Classroom
Experiential learning
Community engagement
University of Florida Imagine > Believe > Create
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Connections: the university-wide mandate
health care entrepreneurship community-based entrepreneurship
hospitality entrepreneurship arts entrepreneurship
historical entrepreneurship green or sustainable entrepreneurship
public sector entrepreneurship social entrepreneurship
engineering entrepreneurship agricultural entrepreneurship pharmacy entrepreneurship
women, ethnic and minority entrepreneurship sports entrepreneurship
quality of life entrepreneurship global entrepreneurship
University of Florida Imagine > Believe > Create
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What’s your self-concept?
Are you an academic entrepreneur…-discovering opportunity in the academic setting
-developing innovations to capitalize on opportunity
-implementing a constant stream of innovation
-taking calculated risks in a university environment
-leveraging resources
-acting as a guerrilla
University of Florida Imagine > Believe > Create
![Page 22: ENTREPRENEURSHIP AS EMPOWERMENT & TRANSFORMATION Michael H. Morris, Ph.D. George and Lisa Etheridge Professor Academic Director of Entrepreneurship Program.](https://reader030.fdocuments.in/reader030/viewer/2022032600/56649da15503460f94a8e1e0/html5/thumbnails/22.jpg)
It’s about being entrepreneurial
University of Florida Imagine > Believe > Create
EO of your center
Innovativeness Risk-taking
Willingness to pursue
initiatives having
reasonable chance of
failure; clever approaches to
mitigating risks
Proactiveness
An action orientation, being a first mover, rule-
bending, tenacity,
leveraging, tolerance of
failure
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Example: EESA
• 25 U.S. students join 20 African students in helping historically disadvantaged entrepreneurs over six weeks
• Intense engagement resulting in four tangible deliverables per client
• Fundamental transformation both in the students and in the ventures
• Students empowered to create value, entrepreneurs grow as managers and see new opportunities
University of Florida Imagine > Believe > Create
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Example: VEP
• Disabled veterans get intensive assistance in starting and growing ventures
• Three-stage program unfolding over 11 months
• Costs the veteran nothing
• 75% success rate: empowered and transformed
• Expanding to a consortium of schools
University of Florida Imagine > Believe > Create
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Example: the SSIC
• University-run innovation center/incubator in the inner city
• Intervention model
• Consulting initiative
• Training programs
• Microcredit program
• Students involved in delivery
• Departments across the campus engagedUniversity of Florida Imagine > Believe > Create
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The greatest job in the world…
• We get to encourage students to dream --- and dream big
• We get to give them the tools to make those dreams come true
• We get to challenge them to do things that are bigger than themselves
• We get to let them fail
• Our programs can empower and transform them
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“Be the change you wish to see in the world”
-M. Gandhi