Researcher to Entrepreneur! - University of Birmingham · PDF file• Entrepreneurial...
Transcript of Researcher to Entrepreneur! - University of Birmingham · PDF file• Entrepreneurial...
• Introduction • The Enterprise Cycle • How Research and Business Progress • Drivers of Innovation • Entrepreneurial Skills
Researcher to Entrepreneur!
Introduction to Terms
A connected process in which many activities from research through to support are coupled together in an integrated way for a common goal.
Innovation:
Creativity: Ideas that are original and useful. A novel and appropriate response to an open-ended challenge or problem.
Imagination
Intuition
Ingenuity
Insight
Inspiration
Serendipity or end goal? An Entrepreneur: “Searches for change, responds to it and exploits opportunities.
Innovation is a specific tool of an entrepreneur .”
“Most of what you hear about entrepreneurship is all wrong. It’s not magic, it’s not mysterious, it’s a discipline, and like any discipline, it can be learnt.” Peter Drucker (Business Expert)
Managerial vs Entrepreneurial Thinking
Entrepreneurial Thinking (Effectual)
Imagined Ends
M1 M2
M3 M4
M5
Given Means
Managerial Thinking (Causal)
M1
M2
M3
M4
M5
Given Goal
Given Means
Saras Sarasvathy: University of Virginia
• Introduction • The Enterprise Cycle • How Research and Business Progress • Drivers of Innovation • Entrepreneurial Skills
Questions
The Enquiry Cycle
Reflecting on the Findings
Forming the Question
Defining the Problem
Investigating the Known
Articulating the Expectation
Society
The Scientific Community
Communicating the Findings
Carrying out the Study
Interpreting the Results
Observing
Harwood, W.S., Reiff, R., & Phillipson, T. Voices from the frontline: Scientists’ conceptions of scientific inquiry. J.Chem Edu (2004)
The Enterprise Cycle*
Questions & Decisions
Observing
Defining the Problem or Challenge
Transforming the Challenge with a new Business Idea
Researching the Market
Developing the Business
Testing the Market
Reflecting on the Market response
The Marketplace
Launching the Business
More Creativity More Innovation
Articulating the Business Proposition
* K. Byron; IEEC Conference, Cardiff, 2010.
• Introduction • The Enterprise Cycle • How Research and Business Progress • Drivers of Innovation • Entrepreneurial Skills
Pro
gre
ss
Effort (Time)
Next Development
Maturity
Rapid Development
Progress
Infancy
Valley of Death
Cu
mu
lati
ve
Pro
fit/
Loss
Maturity
Re
sear
ch P
rogr
ess
Effort (Time)
Rapid Development
Next Development
Infancy
Research Progress
Creative Steps
Delays
Setbacks
2 Sources: Incubation (Creativity) Res Management (Innovation)
Evolution of Optical Fibre Communication
2000 1980 1990 1985 1995 1975
1966 Kao & Hockham first propose optical fibre
First Commercial system
Pro
gre
ss
Lab on a chip
Optical Computing
Copper Cables
Field trials
5 Generations of Technology
Identifying Entrepreneurial Opportunities in Research
Gas Cell
Lens
Built using a retort stand, a school protractor, masking tape and two large microscope slides
High Power Pulsed LASER
When solving lesser problems as part of a larger research project – ask:
Who Else? Where Else?
Power Adjuster (Attenuator)
Delays to Innovation 1
The Discovery of Buckminsterfullerine (Buckyballs)
Harold Kroto (University of Sussex) – Microwave spectroscopy of Carbon rich red giants
Richard Smalley (Rice University, Houston) - Research on cluster chemistry
Realising the potential of new discoveries
Delays to Innovation 3
• Introduction • The Enterprise Cycle • How Research and Business Progress • Drivers of Innovation • Entrepreneurial Skills
“We must no longer wait for tomorrow - it has to be invented” - Gaston Berger
“ Tomorrow is not what it used to be“ - Paul Valery
Drivers of Innovation
• Boom & Bust Cycles
• Relationship Marketing
• Rise of Global Competition
• Accelerating Change
• The ‘Open’ World
6-32 15-20
1-5 1-5
• Introduction • The Enterprise Cycle • How Research and Business Progress • Drivers of Innovation • Entrepreneurial Skills
Specialised Knowledge and ‘Technical Skills’
Transferable Skills
Market Research Creativity/Critical Thinking
IPR & Confidentiality Personal Effectiveness
Business Model Innovation Influence
Business Plan Preparation Communication
Finance Negotiation
Setting up a Business Management/Leadership
Marketing and Sales Team Working
Project Management Networking
Distribution Customer Awareness
Exit Strategy
The Skills and Specialist Knowledge associated with Entrepreneurship
What?
How?
Why?
“People don’t always remember what you say, but they always remember how you make them feel.”
How people usually describe themselves
Simon Sinek: ‘Start with Why?’
What inspires the Listener (eg in Public Engagement and entrepreneurial pitches)
The Key to Influence
Nu
mb
er a
nd
Qu
alit
y o
f Id
eas
Better Brainstorming!
Drive Arousal Self-Attention Social Anxiety Production Blocking Social Loafing The Sucker Effect Shared Common Knowledge Gender Culture Differences
Nominal Group Brainstorm Group
Productivity Gap } Skilled Facilitator Regular Breaks Guidelines Brain-writing Idea-Generation Tools
Idea- Generation - Transformation
• Ask “ What if ?”
Substitute
Combine
Adapt
Modify (Magnify/Minify/Multiply)
Put to other uses
Eliminate
Reverse
ENTRE: Creative Problem Solving
Identify & Clarify the Challenge
Find Ideas & Evaluate
Plan for Action
One clear statement
that gets to the heart
of a selected challenge
1. Identify Criteria to
evaluate Ideas
2. Evaluate best Ideas
by testing against
criteria
Idea-finding Tools Association Transformation Combination Analogy
How is acceptance gained?
What needs to be done?
What resources are required?
What needs to be
Done?
How? & When?
ENquire Transform REalise
Statements that describe
the future vision of
challenges/problems.
Tools: Diagnosing,
Abstracting
Innovation and the Customer Experience
Understanding the Customer Experience, New Observations, Identification of Product & Service gaps.
(1)
New Business Challenges and Idea-generation
(2)
New Product/Service Concepts (Selected Ideas) IPR protection
(3)
Concept Screening (Commercial and technical feasibility, compatibility with company objectives and brand)
(4)
Selected Product/Service Development /Prototyping
(5)
Market Testing /Beta-Testing/ Customer Trials
(6)
Commercialisation (Marketing ,Distribution Sales etc)
(7)
Customer Added Value (Improved Experience)
(8)
• Entrepreneurial Behaviour!!
Concluding Remarks
“Most of what you hear about entrepreneurship is all wrong. It’s not magic, it’s not mysterious, it’s a discipline, and like any discipline, it can be learnt.”
Peter Drucker (Business Expert)
“Inspiration is like fresh fruit or milk: It has an expiration date. If you want to do something, you’ve got to do it now. You can’t put it on a shelf and wait two months to get around to it. You can’t just say you’ll do it later. Later, you won’t be pumped up about it anymore.” –Jason Fried and David Heinemeier-Hansson, Rework