In Quirky, NYU Stern School of Business professor Melissa Schilling embraces the “great person” view of innovation, which focuses more on the individual rather than the organization. Yet, her work has implications for organizational practices to become more innovative. Many recent studies of innovation have focused on the importance of collaboration and social setting, and…
In my last newsletter, I discussed entrepreneurial ecosystems. Related to the ecosystems is the idea of using a geographic location as a source of competitive advantage. Some location issues are overcome by clusters, innovation hubs, and economic agglomerations (terms that are used interchangeably). These location solutions derive from thick labor markets (with plenty of skilled…
Businesses must frequently make decisions about where to locate operations, home offices, and sales locations. These decisions impact the design of supply chains and the ability of companies to reach important customers, attract and retain employees, improve their environmental outcomes, and to manage their cost structures. Many firms must decide whether to centralize operations to…
One can find advice in many places. For example, the Kaufmann Foundation has a robust set of materials and even a yearly conference called the ESHIP Summit. The Kaufmann Foundation states the following: The two biggest threats to entrepreneurial ecosystems are leader burnout and community stagnation. A more robust peer community of ecosystem builders can…
by Ivan Regueira, Sr. Procurement Manager & Supply Strategist for Power, CB&I Inc. Recently GE Renewable Energy announced its plans to develop a 12 MW offshore wind turbine. From my perspective, this announcement was monumental because it would double the output of the largest wind turbines available today and dramatically reduce the installed cost of offshore…
“Ecosystem” is the go-to metaphor for regional entrepreneurship. The Kaufman Foundation, popular press commentary, Charlotte,North Carolina, and San Francisco, California all make references to creating an entrepreneurial ecosystem to facilitate economic growth, impact upward mobility, and build a strong regional economy. The entrepreneurial ecosystems metaphor means that new firms emerge and grow due to talented entrepreneurs and…
Design Thinking is a methodology that has gained popularity as a solution-based approach to solving problems that are ill-defined, have limited data available, and involve human interactions. I have covered considerable material related to design thinking in previous blogs. A certificate program at Wake Forest University taught this material to students seeking to address social and…
This week, I take a break from discussing entrepreneurship and explore an issue that seems to be in the minds of many in higher education. Higher education is currently under attack for its political correctness. In 2013, the Foundation for Individual Rights in Education counted 34 speaker disinvitation attempts. For example, The University of Pennsylvania…
Many people are often confused about where to go for information related to climate change and actions they can take to increase the likelihood of a decarbonized world. Therefore, I have compiled a list of sites that may be of interest to individuals looking to learn more about climate change and also take action. These…
Entrepreneurs are often seen as engines of growth (i.e., they harness opportunities and innovation to fuel economic advancement). Social entrepreneurs, like their business counterparts, are similarly focused; they tap into vast reserves of ambition, creativity, and resourcefulness to solve large, intractable problems. [i] Social entrepreneurs pioneer innovative, effective, and sustainable approaches to meet the needs…
