Global Entrepreneurship and Innovation

Summer 2019
Lowell USA

Introduction
Notes 1
A few of logistics actions ….

Form Teams √

Set up WhatsApp and WeChat Groups √

Quick Survey

Start time √

Class Material…schedule, notes, …

Quick Survey
https://tinyurl.com/lowell19-1

Why?
Workshop Material
https://tinyurl.com/ge2files
Let’s start with a few questions

Why are you here?

What is Entrepreneurship?

What/who is an Entrepreneur?

Do you have an Idea?

What will you do next?

Building, and sustaining a Company –examples:

Henry Ford
• Many years of working on a vision of “Horseless
Carriage”
• “If I had asked what they wanted, they would
have said faster horses”
• Took him over 10 years to launch Ford Motor
Company
• New, uncontested market
• Interconnectedness of multiple stakeholders
• Long period of acceptance
Chase and Danielson: Playground Conversations to High Growth
Business – Zip Car
• Both 42-old mothers, children attending same school
• Danielson – Environmental PhD; visiting Berlin,
impressed with car-sharing catching on in Europe
• Chase-MBA from MIT – strategy consultant, looking for
flexible opportunity when children were born
• Both discussed the concept and developed a market
potential for Cambridge area
• Social and economic aspects of the venture; received full
support from the family
• Customer studies: customers at bus stops, subways college
campuses; contacted car manufacturers for leasing
• Developed a business plan and pitched to investors
• started with money from FFR; venture launched in 2000
• @IPO in 2011, $185 M revenue, 8,500 cars50 cities around
the world; Avis bought in 2013
Learning points:

Recognizing the Opportunity

• Associating.
• Questioning.
• Observing.
• Networking.
• Experimenting.

Shaping the Opportunity

• Business Model
• Unique strategy
• Context; Positioning; Ecosystem
• Resources and Capabilities to execute strategy
• Developing a Value Proposition
Entrepreneurship is not really building a
product,

it’s not having an idea,

it’s not being in the right place at the right

time.

It’s fundamentally company building

Eric Ries

That will last a long time

 What is a Business
&

How do you Create, build and Manage

a business?
What is this?
The beginning … How do you build a Good Business?
What is the single necessary and
sufficient condition for a business?

Who is my
What is their
Customer?
Pain? Need?
Idea

How do I
Satisfy
My
customer
Walmart (or Flipcart, Alibaba, etc. – let’s explore the
company
Who are they? What do they sell?

Who do they sell to?

What problems do they address? What value do they offer?

How do they serve these customers?

How do they generate revenue?

What is their cost of doing business?

If you can answer these many other questions, you can design a
Business --- or, Business Model
 Key Activities Customer
Key Partners Relationships
Inv Mgmt
Suppliers POS Offer Customer
Customer
eCommerce General Service
segments
merchandise Returns
Mass market
Food Suburban
Key Household etc. Channels Rural
Resources Income <$100K
Value Stores
Stores Lower prices Online
Web Many products TV/Print Ads
Supply chain Social media
IT

Costs Revenue Stream

Walmart’s Business Model

Learning Objectives

1. Understand innovation, entrepreneurship and the process

2. Link Innovation and Entrepreneurship
3. Discuss real world examples and cases
4. Experience group working through projects and exercises

5. Work in a multi-culture, inter-

disciplinary environment
 Global Entrepreneurship and Innovation Workshop
Alumni Hall
Day Morning Activity Afternoon Activity
July 6 and 7: Arrive
July 7 Lowell Tour Orientation/Introduction
Getting to know one another (Ice Breaker)
Class Schedule
July 8 9:00 – 9:30 Introduction 2:00 – 2:30 Dean Dr. Richtermeyer
9:30 – 11:00 Essentials of 2:30 – 3:30 Ideation and Class Exercise
Entrepreneurship & Innovation Instructions (Ciuchta)
(Mehta)

Class exercises
11:15 – 12:45 Global
Entrepreneurship (Wilson)
3:45: 5:15 Building and Managing Teams
(Jordan)

5:15 – 5:45 Wrap up (Ciuchta)

July 9 9:00 – 10:15 Class exercises - 2:00 – 4:00 Business Model Canvas (Yang)
presentation
Class Projects Instructions (Ciuchta)
4:00 – 5:30 Group projects (Ciuchta/Mehta)
10:30 – 12:30 Market Research and
Customer Discovery (Xia Xu)
July 10 Group Project (Ciuchta/Mehta) 2:00 – 4:00 Design Thinking (O’Donnell)

4:15– 5:15 Lean Launchpad (Mehta)

Group Project
 July 11 9:00 – 10:15 Innovation & Creativity 2:00 – 4:00 Group Project (Ciuchta)
Class Activities (Butler)

Meet & Greet (social event)

10:30 – 12:00 Digital Marketing
(Ross)

July 12 Tech Companies Visits Incubators visits (Lowell, Boston)

July 13 and 14: Visit Boston and other weekend activities
July 15 Group Projects (Mehta/Ciuchta) 2:00 – 4:30 Financing Ventures (Ciuchta)
Guest Entrepreneur (TBD) Group Projects (Ciuchta/mehta)
July 16 Group Projects (Ciuchta/Mehta) 2:00 – 4:30 Venture Implementation and
Management (Mehta)
Guest Entrepreneur (TBD)
Group Projects (Ciuchta/Mehta)

July 17 Group Projects (Ciuchta/Mehta) 2:00 – 4:00 Making Presentations (Casey)

Group Projects (Ciuchta/Mehta)

July 18 9:00 – 11:00 Entrepreneurship in 2:00 – 4:00 Entrepreneurship in India (KLE)
China (NUPT)
Finalize presentations and report
Finalize presentations and report (Ciuchta/Mehta)
(Ciuchta/Mehta)
July 19 Student presentations; Certificate Award Ceremony
Experience Survey (on-line)
July 20 Leave Boston or attend post session workshop
 Introduction to

Innovation

and

Entrepreneurship
Innovation?

1: the introduction of something new

2: a new idea, method, or device
https://www.merriam-webster.com/dictionary/innovation

The process of translating an idea or invention into a good or

service that creates value or for which customers will pay.

www.businessdictionary.com/definition/innovation.html

1.something new or different introduced

2.the act of innovating; introduction of new things or methods.
http://www.dictionary.com/browse/innovation

Many more ….
A burger under 30 seconds in 1948
1991 Radio Shack
Catalog Ad
What Is Entrepreneurship? A Few Definitions

The capacity and willingness to develop, organize and manage a business

venture along with any of its risks in order to make a profit.
The most obvious example of entrepreneurship is the starting of new businesses.
http://www.businessdictionary.com/definition/entrepreneurship.html

a person who organizes and manages any enterprise, especially a business,

usually with considerable initiative and risk.
http://www.dictionary.com/browse/entrepreneurship

entrepreneurship is the pursuit of opportunity beyond resources controlled.

“Pursuit” implies a singular, relentless focus
“Opportunity” implies an offering that is novel
- pioneering a truly innovative product, &/or
-devising a new business model, &/or
-creating a better or cheaper version of an existing product, &/or
-targeting an existing product to new sets of customers.
“Beyond resources controlled” implies resource constraints
Howard Stevenson, Harvard Business school
https://hbr.org/2013/01/what-is-entrepreneurship
Entrepreneurship Definitions – some more

Venture-backed? Small Businesses? SME’s?

one who organizes, manages, and assumes the risks of a business

or enterprise
Merriam-Webster Dictionary

Entrepreneurship is seen as new combinations, which include

the introduction of new goods, new methods of production,
opening of new markets, new sources of supply, or a new
organization.
Joseph Schumpeter, Austrian Economist

Entrepreneurship is an act of innovation that involves endowing

existing resources with new wealth producing capacity
Peter Drucker
What is Entrepreneurship?

Typical Local Single Unit

Pizzeria

Year 1 Year 2 Year 3 Year 4 Year 5

Revenue Profit
 +
Franchising =
 Introduction to Entrepreneurship

• Peter F. Drucker
entrepreneurship is not:-
– Magic
– Mysterious

But It is a DISCIPLINE and it can be LEARNED.

 What is Entrepreneurship?

An encompassing definition of entrepreneurship

“Entrepreneurship is the process of
creating value by bringing together
a unique combination of resources
to exploit an opportunity.”
Entrepreneurship is a planned activity
Managed as a process
Involves innovation
Applies to any organization
Dedication, perseverance, adaptability
Linkage – Innovation and Entrepreneurship

Entrepreneurship
Invention Mindset
Innovation Opportunity Culture
Creativity Risk taking
Value creation
 ‘Desh’ Deshpande
Thomas Edison Henry Ford

Jeff Bezos

Hewlett - Packard Page and Brin

Vinod Khosla

Over two-thirds of U.S. economic growth is attributable to

technological innovation & entrepreneurship
 Fast Food
Retail Airlines

Steel
Social

…Entrepreneurship also present in many

other fields …..
A few Prominent Indian Entrepreneurs
A few Prominent Chinese Entrepreneurs
Myanmar
Kenya
Thailand
 Who ARE these people?

• Make money?
• Change the world?
• Make a difference?
• Do their own thing?
• Be their own boss?
• Be a widely recognized public figure?
• Take tremendous risks?
• Ordinary people?
• Doing extraordinary things?
• Visionary?
• Opportunistic?
• Optimist?
Where do Entrepreneurs come from?
Corporate Life Academia Dissatisfaction
 Why Learn Entrepreneurship?
Environment – Changing Landscape

 Change
 Complexity
 Chaos
 Contradiction
The Search for a “Perfect” Solution to
Communication continues ….. Why?
Continuing Changes in environment …
Inter-related Factors

New technologies leading to new

solutions & applications

Social and Cultural Changes

Governmental Laws and Regulations

Economic Conditions

Competition
Why Learn Entrepreneurship?

Entrepreneurship
Learning
Entrepreneurship – 8 Perspectives

Global

Wealth
Growth

Entrepreneurship

Enterprise

Change 3
Are you an Entrepreneur?

http://www.forbes.com/sites/tompost/2012/06/04/are-
you-an-entrepreneur-startup/

!!!Have Fun!!!
Problems:
Noise? Pollution? Injuries?
Business Opportunity

Living Lawn Mowers: Goats for Rent

http://abcnews.go.com/Nightline/video/living-lawn-mowers-goats-
rent-12157420

Amazon will rent you goats to mow your lawn;

Geek.com. Apr. 28, 2015 9:30 am
Hire a Goat Grazer, Amazon.com
Three of the glasses below are filled with orange juice and
the other three are empty. By moving just one glass, can
you arrange the glasses so that the full and empty glasses
alternate?
Join all the 9 dots on the right using four straight lines or less,
without lifting your pen and without tracing the same line
more than once. Do copy this onto paper if you wish to make it
easier.
A graduate applying for pilot training with a major
airline was asked what he would do if, after a long-haul
flight to Sydney, he met the captain wearing a dress in
the hotel bar. What would you do?
Class Exercise 1

Idea Generation
Problems?

Solutions?
Problems?

Solutions?
Solutions?
Any more problems?
Any more problems?
What did we learn?

• There is no such thing as a perfect

solution?
• A solution leads to additional problems?
• Or, Opportunities?
• Keep your mind open?
• Accept and Evaluate ALL solutions?
What is this product?

Who are the users?

What are its

applications?

What are the problems?

For each problem, what

is the solution(s)
Amazon ships 1.6 million packages a day

Problems?
Opportunities?
The obstacle in the path becomes the path. Never
forget, within every obstacle is an opportunity to
improve our condition…………………….Zen story

Alter Your Perspective

Stay Moving, Always
Fail Cheaply and Quickly
Follow The Process
What’s Right Is What Works
Use The Flank Attack
Seize The Offensive
Focus On Something Bigger Than Yourself
Class Exercise

GOTB – Get Out of The Building

Teams go around the campus to observe
surroundings and/or talk to people;

spot a problem, develop a problem statement,

define scope, and

think of dumbest (craziest) ideas to solve, make a

list of at least 10 “dumbest ideas” and then rank 1
to 10 (1=most to 10 least dumb)

Present/Improvise Tomorrow, July 9