King Fahd University of Petroleum & Minerals | Presentation to Students
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Transcript of King Fahd University of Petroleum & Minerals | Presentation to Students
THE JOURNEY TO
Michael Burcham President & CEO The Nashville Entrepreneur Center [email protected] Professor of Entrepreneurship Owen Graduate School of Management, Vanderbilt University [email protected]
SUCCESSFUL ENTREPRENEURSHIP
THE CAREER ESCALATOR
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We finish college, get on the corporate escalator, gain experience, whisked up the organizational hierarchy, clearing
room for ambitious young graduates to follow. We move steadily up the escalator till time to step off and retire,
making room for the next level of folks to take our place.!
CULTIVATING AN ENTREPRENEURIAL MINDSET
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Whether you work for a 10-person company, a giant multinational corporation, a not-for-profit, government agency
or any type of organization in between !to seize the new opportunities and !
meet the challenges of today’s market !we need to think and act like we’re running a startup.!
!!!
WHY DO WE NEED AN ENTREPRENEURIAL MINDSET?
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!• We are all making decisions with limited information !• In a time-compressed and resource constrained environment !• There are no guarantees or safety nets!• We take on a certain amount of risk!• Competition is changing !• The Market is changing!• Product and Service lifecycles are shorter and shorter!!!
THE TOOL KIT TO DEVELOP AN ENTREPRENEURIAL MINDSET
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"Develop your own competitive advantage by combining 3 puzzle pieces:!
!
Your Assets
Your Aspirations
The Market
Realities
1.
THE TOOL KIT TO DEVELOP AN ENTREPRENEURIAL MINDSET
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"Plan to Adapt. Use the ABZ method so that you can adapt based on feedback and lessons learned.!
2.
THE TOOL KIT TO DEVELOP AN ENTREPRENEURIAL MINDSET
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"Build real, lasting relationships and deploy these into a powerful professional network built on trust.!
3.
BUILD & MANAGE YOUR PROFESSIONAL NETWORK
A Successful Leader has to have a broader horizon that goes outside the business. And the only way you are going to get that broader perspective is to make sure that you are out there in your networks. In those networks you pick up information and bring it back into the business.
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THE TOOL KIT TO DEVELOP AN ENTREPRENEURIAL MINDSET
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"Develop a method to evaluate options and ideas to determine the best new products and services for your client or the organization.!
4.
F Frame the Opportunity or Issue
O Organize the Information you Have
C Clarify What You Know and Do Not Know
U Understand Your Options. Develop a “Plan A” and a “Plan B” Validation of Options: • ROI (Return on Investment) • Value • Projected Growth in Revenue, Margin, Customer Volume
S Select Your Best Option. Execute it Well. Does your solution Address the Client’s or Organization’s “Pain”? Does it match the Company’s Strategic Objective (s)? Is it a realistic? Is it affordable? Is it an executable solution?
PDCA In struct io na l C y cle
PLAN
A CT
DO
CHECK
• Data Disagg regation
• Calendar Development• Direct Instructional
Focus
• Tutoria ls
• Enrichment
• Assessment
• Maintenance
• Monitoring
FOCUS MODEL
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• WE DO NOT LEAD an organization, department or group; and your people do not follow strategic plans, fancy goals or year-end reports | THEY FOLLOW A PERSON
• Often, our understanding id diluted with operational plans, goal setting, revenue and sales forecasting, cash flow, HR, compliance and the company’s bottom line.
• How You Influence Others is the Most Important Part of Leadership
IQ: I must know who I am & where I want my team to go
EQ: I must know how I am seen, I must learn to relate well to others, and I must know how to attract talented people "
LESSONS LEARNED IN LEADERSHIP
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Team Leader
Team Member
Team Member
Team Member
Team Member Team Member Team Member
Team Member Team Member
North LESSONS LEARNED IN LEADERSHIP
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Team Leader
Team Member Team Member
Team Member
Team Member Team Member
North LESSONS LEARNED IN LEADERSHIP
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Delivery Skills
Emotional Intelligence
Discovery Skills
Innovation: Compelling vision of the future that attracts others
Outcomes: Ability to show others how to get things done
Relationships: Capable people actually choose to follow you
LESSONS LEARNED IN LEADERSHIP
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LESSONS LEARNED IN LEADERSHIP
Leadership is an"Autobiography"…its about character"
Leadership is an agreement.
You lead with permission..
People need to know who you are and what you stand for before they agree to be led by you.
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We Become
ü What we Eat ü What we Read ü The People with whom we spend 0me Knowing this, I use the following tool to map out my on personal development plan – to ensure I have an ac0ve part in the person I am becoming…
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