Description
Understanding creativity and Innovation.
1 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
1
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
INNOVATION DRIVEN ENTREPRENEURSHIP
OMNI VIEW CONSULTANCY (M) SDN BHD
Presented by:
Dr Wilson Tay
CEO & Principal Consultant
MALAYSIA PRODUCTIVITY CORPORATION
2
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
OUTLINE OF PRESENTATION
Demonstration of Innovation Practices
Creativity & Innovation
Case Studies
Nature of Innovation & Opportunities
Non-Technological, Technological & Kids
Innovations
Innovation Driven Entrepreneurship
2 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
3
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
DEMONSTRATION
OF
INNOVATION PRACTICES
4
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
CREATIVITY
Creativity is about:
‘thinking out of the box’
‘making connection’
‘variations’
Creativity is for:
happiness and excitement
survival and progress
wealth creation
Creativity Involves:
knowledge
thinking
incubation
inspiration / Eureka
development
3 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
5
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
“Imagination is better than
knowledge.”
Albert Einstein
6
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
UNDERSTANDING CREATIVITY &
INNOVATION
4 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
7
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
“ ““ “Creativity and innovation is purely a Creativity and innovation is purely a Creativity and innovation is purely a Creativity and innovation is purely a
human activity. It starts and ends human activity. It starts and ends human activity. It starts and ends human activity. It starts and ends
with people because machines and with people because machines and with people because machines and with people because machines and
processes cannot think and imagine” processes cannot think and imagine” processes cannot think and imagine” processes cannot think and imagine”
Dr Wilson Tay
8
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
CREATIVITY AND INNOVATION
WHAT COMES TO MIND?
New Products CHANGES INVENTIONS
CRAZY IDEAS New Products & Services
DOING THINGS DIFFERENTLY UNIQUE
BUSINESS OPPORTUNITY Wealth Creation
NEW WAYS OF DOING THINGS Eureka Inspiration
THINKING BEYOND OUTSIDE THE BOX
ENTREPRENEURSHIP Progress
Competition
Survival CREATIVE DESTRUCTION
FIRST MOVER ADVANTAGE IMAGINATION Inspiration
RISKTAKING NEW VALUE CREATION
5 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
9
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Necessity Entrepreneurship – doing
business to survive or earn a basic living. Can
include informal business such as VCD sales,
person-to-person sales. Prevalent in less
developed economies e.g. Peru, Brazil,
Indonesia, India, South America etc
Opportunity Entrepreneurship – more
trained and educated people looking for
opportunistic ventures. Usually more
innovative, scalable and has global market
reach. Prevalent in more advanced economies
e.g. Europe, US, Japan, UK, Australia, etc
Two Main Types of Entrepreneurship
10
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
CREATIVITY & INNOVATION
Creativity
The ability to imagine and see things other
than they seem. It is a thinking process of
imagination and creating ideas
Innovation
The process of selecting / combining, refining,
and turning the best creative ideas into
commercial reality
It is the application of the idea to enhance or
improve a process, product or service, or it
could be the development of a new product,
service, process or model which would add
‘new’ value to the user or customer
6 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
11
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
CREATIVITY & INNOVATION
Creativity sparks the initial idea and plays a
critical role in innovation. It also help
improves the idea as it moves forward
Innovation begins with the creative act of
idea generation and opportunity recognition
Innovation as creative destruction
Innovation is invention plus exploitation
12
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
The Invention & Innovation Paradigms
Necessity is the Mother of Invention
(Serendipitous discovery or inventions)
The Innovation Paradigm
Opportunity is the Mother of Innovation
(Designed and purposeful value creation)
… By Dr Wilson Tay
7 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
13
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Innovation & Commercialisation Process
Idea
Generation
Opportunity
Recognition
Development
Commercialisation
Entrepreneurship
Idea
Evaluation
Adapted from: Managing Creativity & Innovation, HBE
The Innovation Funnel
For every 1,000 new ideas,
100 have potential, 10 get developed
and 1 becomes
a success!
14
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Technological Innovations:
? R&D Driven
? Scientific discoveries & inventions
? Non-R&D Driven
? Acquisitions, Recombinations, Replications
Non-Technological Innovations:
? New Business Models
? Financial Products & Services
? Organisation Models
? Operations Strategies
? Human Resources Strategies
? Marketing / Branding Strategies
? Delivery Systems
? Strategic Alliances & Collaboration
? Trade Strategies
Types of Innovation
8 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
15
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Edison’s Five Competencies of Innovation
1. Solution-centered Mindset
2. Kaleidoscopic Thinking
3. Full-spectrum Engagement
4. Master-mind Collaboration
5. Super-value Creation
16
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
INNOVATION DRIVEN
ENTREPRENEURSHIP
9 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
17
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Malaysia’s Growth – Economic Eras & Paradigm
Shifts
1960’s
Labour
Driven
Export of
rubber, tin,
palm oil &
timber
1970’s
Labour
Driven
Manufacture
of import
substitution
goods
1980’s
Investment
Driven
Export
textile &
electronic
goods
1990’s
Productivity
Driven
Export high
value added
electrical &
electronic
goods
2000’s
Knowledge
Driven
Knowledge-
based goods
& services
Agriculture Era
Industrial Era
Technology Era
Knowledge Era
Agriculture-based
led by Government
Knowledge-based led by
Private Enterprises
Innovation Era
> 2000’s
Innovation
& Human
Capital
Driven
18
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
What’s Happening Around Us?
Increasing globalisation and liberalisation – increased
competition and clamour for markets
Open Economies (China, India, ASEAN, etc.)
Competition for FDIs
Changing and converging technologies – creative
destruction and innovative re-construction
Change in business models – traditional businesses being
challenged
New value innovation – new ways of creating and providing
value
Continuing cost containment and productivity push
Workforce mobility / brain drain / new competitors
Change from labour- and capital-intensive development to
productivity- and knowledge-based growth
10 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
19
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
For Client Companies:
•Access to resources
•Reduced risk & time to market
•Improved business skills
•Prestige & business growth
For Government:
• Economic development
• New jobs & SMEs
• Empowerment & equity
• Revenue generation
For Corporate Sector:
• Innovation – New
products & services
• Technology acquisition
• Return on capital
• Social responsibility
For R&D Community:
• R&D commercialisation
• IP generation
• Business synergy
• Links with business
community
National Impact
Why & Importance of Innovation System
20
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
“The entrepreneurial mystique? It’s not magic, “The entrepreneurial mystique? It’s not magic, “The entrepreneurial mystique? It’s not magic, “The entrepreneurial mystique? It’s not magic,
it’s not mysterious and it has nothing to do with it’s not mysterious and it has nothing to do with it’s not mysterious and it has nothing to do with it’s not mysterious and it has nothing to do with
the genes. It is a discipline. And like any the genes. It is a discipline. And like any the genes. It is a discipline. And like any the genes. It is a discipline. And like any
discipline, it can be learned.” discipline, it can be learned.” discipline, it can be learned.” discipline, it can be learned.”
…Peter Drucker
Entrepreneurs Are Made Not Born
11 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
21
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Paradigm shifters, innovators & opportunists – creative
destroyers
Key change catalysts & agents
Wealth & employment creators
Economic engine drivers
Key actors of the Malaysian Economy
Entrepreneurs are made not born – entrepreneurial
propensity
You can be the entrepreneur – if you have what it takes
People who like to be their own boss
People who have experienced “social disruption”
Necessity & opportunity entrepreneurs
Who are the Entrepreneurs?
22
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Entrepreneurship
• Innovation
• Fast growth
• Vision
• Employment creation
• Money making machine
• Higher risk
Small Business
• Little innovation
• Static growth
• Little vision
• Family business
• Earning a livelihood
• Low or minimum risk
Difference between Entrepreneurship & Small Business
12 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
23
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Different Types of Business Venture Vehicles
Sole proprietorship
Partnership
Joint Venture
Proprietary company (Sendirian Berhad)
Public company (Berhad)
BUSINESS VEHICLE
Small business / shop keepers
Franchise
Multi-level or Direct Marketing
FORMAT OF BUSINESS
24
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Types of Business Models
Manufacturer Model: Make & sell – distribution income
Merchant Model: Buy & sell – trading income
Brokerage Model: Commissions (stock brokers, real estate agents)
Services Model: Professional fees (doctors, lawyers, accountants,
etc)
Advertising Model: Services income & rebates
Infomediary Model: Sell information & other related new services
Affiliate Model: Agents & resellers (MLM, Direct marketing, etc)
Internet Models: Using the internet to create value and profits
Enterprise Business Models
The method of doing business by which an enterprise can sustain
itself. It spells out how the business can make money.
13 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
25
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Challenges of Entrepreneurship
Entrepreneurship / SMEs is the nation’s “engine of
economic” growth
Entrepreneurship thrives on strong eco-system – innovative
and R&D IHLs, funding community, capital market,
incubators and technology commercialisation
Lack of industry linked universities and technology brokers
– ‘crossing the chasm’
Shift to K-economy and building the ICT industry – creation
of the MSC
Identify young people with propensity and entrepreneurial
nature
Need to train young people early in their career and
exposure to entrepreneurship
26
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Q & A Q & A Q & A Q & A - -- - THANK YOU THANK YOU THANK YOU THANK YOU
Dr Wilson Tay
HP: 012 611 2218
Contact Details: [email protected]
www.omniview.net
Omni View Consultancy (M) Sdn Bhd
These presentation slides and its contents, unless otherwise stated, is the copyright of Dr Wilson Tay, CEO and Principal Consultant
of Omni View Consultancy (M) Sdn Bhd. These slides are made available only to Malaysia Productivity Corporation (MPC) for the
purpose of a talk on ‘Innovation Driven Entrepreneurship’ by Dr Wilson Tay on 4 March 2011. Reproduction or retransmission of the
materials, in whole or in part, in any manner, without the prior written consent of Dr Wilson Tay is not permitted.
14 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
27
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
A respected management leader, Dr Wilson Tay is also a well-established educator. He has risen through rank and file
roles as a manager to general manager and corporate chief executive in a career period spanning over thirty years in
Australasia and Malaysia. Dr Wilson has worked in many senior and diverse roles including Executive Director, Vice
President, Chief Operating Officer, Chief Knowledge Officer, Chief Executive Officer, Principal Consultant and Executive
Coach in well-known multinational corporations and public institutions overseas and locally.
His most recent role before re-careered into his current role was the CEO of the Malaysian Institute of Management.
Over the last 12 years, he has been involved in organizational development & turnaround, strategic & performance
management, entrepreneurs and executive coaching, and management consultancy and business advisory
assignments in Australasia and Malaysia. Prior to joining MIM, he was the Vice President of Multimedia Development
Corporation as the Head of the MSC Technopreneur Development Flagship responsible for the development of
technopreneurs and the ICT SMEs. Before that he was the CEO of TEC Asia Centre Sdn Bhd (now Vistage Malaysia), a
local partner organisation of TEC International which is involved in Chief Executive and Entrepreneurs coaching and
business advisory.
Dr Wilson possesses multiple professional and academic qualifications. He holds professional fellowship and
membership with the Institute of Chartered Accountants, the Australian Society of Certified Practicing Accountants,
the Institute of Chartered Secretaries and Administrators, the Institute of Corporate Managers and Administrators in
Australia, and is a Companion of the International Management Centres in United Kingdom and a registered US
Certified Financial Planner.
His academic qualifications include the Bachelor of Business, Graduate Diploma in Business & Administration, Master
of Business from the Curtin University of Technology and Doctor of Management (with Distinction) from IMC Southern
Cross University in Australia. He has been an adjunct Associate Professor and Faculty Member of several local and
overseas institutions of higher learning. His doctoral and post-doctoral areas of interest and research are in
entrepreneurship & innovation, knowledge management, human capital development, corporate performance and
change management.
Bio-Data of Dr Wilson Tay
doc_901822270.pdf
Understanding creativity and Innovation.
1 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
1
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
INNOVATION DRIVEN ENTREPRENEURSHIP
OMNI VIEW CONSULTANCY (M) SDN BHD
Presented by:
Dr Wilson Tay
CEO & Principal Consultant
MALAYSIA PRODUCTIVITY CORPORATION
2
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
OUTLINE OF PRESENTATION
Demonstration of Innovation Practices
Creativity & Innovation
Case Studies
Nature of Innovation & Opportunities
Non-Technological, Technological & Kids
Innovations
Innovation Driven Entrepreneurship
2 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
3
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
DEMONSTRATION
OF
INNOVATION PRACTICES
4
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
CREATIVITY
Creativity is about:
‘thinking out of the box’
‘making connection’
‘variations’
Creativity is for:
happiness and excitement
survival and progress
wealth creation
Creativity Involves:
knowledge
thinking
incubation
inspiration / Eureka
development
3 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
5
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
“Imagination is better than
knowledge.”
Albert Einstein
6
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
UNDERSTANDING CREATIVITY &
INNOVATION
4 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
7
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
“ ““ “Creativity and innovation is purely a Creativity and innovation is purely a Creativity and innovation is purely a Creativity and innovation is purely a
human activity. It starts and ends human activity. It starts and ends human activity. It starts and ends human activity. It starts and ends
with people because machines and with people because machines and with people because machines and with people because machines and
processes cannot think and imagine” processes cannot think and imagine” processes cannot think and imagine” processes cannot think and imagine”
Dr Wilson Tay
8
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
CREATIVITY AND INNOVATION
WHAT COMES TO MIND?
New Products CHANGES INVENTIONS
CRAZY IDEAS New Products & Services
DOING THINGS DIFFERENTLY UNIQUE
BUSINESS OPPORTUNITY Wealth Creation
NEW WAYS OF DOING THINGS Eureka Inspiration
THINKING BEYOND OUTSIDE THE BOX
ENTREPRENEURSHIP Progress
Competition
Survival CREATIVE DESTRUCTION
FIRST MOVER ADVANTAGE IMAGINATION Inspiration
RISKTAKING NEW VALUE CREATION
5 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
9
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Necessity Entrepreneurship – doing
business to survive or earn a basic living. Can
include informal business such as VCD sales,
person-to-person sales. Prevalent in less
developed economies e.g. Peru, Brazil,
Indonesia, India, South America etc
Opportunity Entrepreneurship – more
trained and educated people looking for
opportunistic ventures. Usually more
innovative, scalable and has global market
reach. Prevalent in more advanced economies
e.g. Europe, US, Japan, UK, Australia, etc
Two Main Types of Entrepreneurship
10
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
CREATIVITY & INNOVATION
Creativity
The ability to imagine and see things other
than they seem. It is a thinking process of
imagination and creating ideas
Innovation
The process of selecting / combining, refining,
and turning the best creative ideas into
commercial reality
It is the application of the idea to enhance or
improve a process, product or service, or it
could be the development of a new product,
service, process or model which would add
‘new’ value to the user or customer
6 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
11
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
CREATIVITY & INNOVATION
Creativity sparks the initial idea and plays a
critical role in innovation. It also help
improves the idea as it moves forward
Innovation begins with the creative act of
idea generation and opportunity recognition
Innovation as creative destruction
Innovation is invention plus exploitation
12
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
The Invention & Innovation Paradigms
Necessity is the Mother of Invention
(Serendipitous discovery or inventions)
The Innovation Paradigm
Opportunity is the Mother of Innovation
(Designed and purposeful value creation)
… By Dr Wilson Tay
7 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
13
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Innovation & Commercialisation Process
Idea
Generation
Opportunity
Recognition
Development
Commercialisation
Entrepreneurship
Idea
Evaluation
Adapted from: Managing Creativity & Innovation, HBE
The Innovation Funnel
For every 1,000 new ideas,
100 have potential, 10 get developed
and 1 becomes
a success!
14
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Technological Innovations:
? R&D Driven
? Scientific discoveries & inventions
? Non-R&D Driven
? Acquisitions, Recombinations, Replications
Non-Technological Innovations:
? New Business Models
? Financial Products & Services
? Organisation Models
? Operations Strategies
? Human Resources Strategies
? Marketing / Branding Strategies
? Delivery Systems
? Strategic Alliances & Collaboration
? Trade Strategies
Types of Innovation
8 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
15
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Edison’s Five Competencies of Innovation
1. Solution-centered Mindset
2. Kaleidoscopic Thinking
3. Full-spectrum Engagement
4. Master-mind Collaboration
5. Super-value Creation
16
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
INNOVATION DRIVEN
ENTREPRENEURSHIP
9 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
17
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Malaysia’s Growth – Economic Eras & Paradigm
Shifts
1960’s
Labour
Driven
Export of
rubber, tin,
palm oil &
timber
1970’s
Labour
Driven
Manufacture
of import
substitution
goods
1980’s
Investment
Driven
Export
textile &
electronic
goods
1990’s
Productivity
Driven
Export high
value added
electrical &
electronic
goods
2000’s
Knowledge
Driven
Knowledge-
based goods
& services
Agriculture Era
Industrial Era
Technology Era
Knowledge Era
Agriculture-based
led by Government
Knowledge-based led by
Private Enterprises
Innovation Era
> 2000’s
Innovation
& Human
Capital
Driven
18
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
What’s Happening Around Us?
Increasing globalisation and liberalisation – increased
competition and clamour for markets
Open Economies (China, India, ASEAN, etc.)
Competition for FDIs
Changing and converging technologies – creative
destruction and innovative re-construction
Change in business models – traditional businesses being
challenged
New value innovation – new ways of creating and providing
value
Continuing cost containment and productivity push
Workforce mobility / brain drain / new competitors
Change from labour- and capital-intensive development to
productivity- and knowledge-based growth
10 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
19
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
For Client Companies:
•Access to resources
•Reduced risk & time to market
•Improved business skills
•Prestige & business growth
For Government:
• Economic development
• New jobs & SMEs
• Empowerment & equity
• Revenue generation
For Corporate Sector:
• Innovation – New
products & services
• Technology acquisition
• Return on capital
• Social responsibility
For R&D Community:
• R&D commercialisation
• IP generation
• Business synergy
• Links with business
community
National Impact
Why & Importance of Innovation System
20
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
“The entrepreneurial mystique? It’s not magic, “The entrepreneurial mystique? It’s not magic, “The entrepreneurial mystique? It’s not magic, “The entrepreneurial mystique? It’s not magic,
it’s not mysterious and it has nothing to do with it’s not mysterious and it has nothing to do with it’s not mysterious and it has nothing to do with it’s not mysterious and it has nothing to do with
the genes. It is a discipline. And like any the genes. It is a discipline. And like any the genes. It is a discipline. And like any the genes. It is a discipline. And like any
discipline, it can be learned.” discipline, it can be learned.” discipline, it can be learned.” discipline, it can be learned.”
…Peter Drucker
Entrepreneurs Are Made Not Born
11 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
21
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Paradigm shifters, innovators & opportunists – creative
destroyers
Key change catalysts & agents
Wealth & employment creators
Economic engine drivers
Key actors of the Malaysian Economy
Entrepreneurs are made not born – entrepreneurial
propensity
You can be the entrepreneur – if you have what it takes
People who like to be their own boss
People who have experienced “social disruption”
Necessity & opportunity entrepreneurs
Who are the Entrepreneurs?
22
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Entrepreneurship
• Innovation
• Fast growth
• Vision
• Employment creation
• Money making machine
• Higher risk
Small Business
• Little innovation
• Static growth
• Little vision
• Family business
• Earning a livelihood
• Low or minimum risk
Difference between Entrepreneurship & Small Business
12 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
23
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Different Types of Business Venture Vehicles
Sole proprietorship
Partnership
Joint Venture
Proprietary company (Sendirian Berhad)
Public company (Berhad)
BUSINESS VEHICLE
Small business / shop keepers
Franchise
Multi-level or Direct Marketing
FORMAT OF BUSINESS
24
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Types of Business Models
Manufacturer Model: Make & sell – distribution income
Merchant Model: Buy & sell – trading income
Brokerage Model: Commissions (stock brokers, real estate agents)
Services Model: Professional fees (doctors, lawyers, accountants,
etc)
Advertising Model: Services income & rebates
Infomediary Model: Sell information & other related new services
Affiliate Model: Agents & resellers (MLM, Direct marketing, etc)
Internet Models: Using the internet to create value and profits
Enterprise Business Models
The method of doing business by which an enterprise can sustain
itself. It spells out how the business can make money.
13 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
25
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Challenges of Entrepreneurship
Entrepreneurship / SMEs is the nation’s “engine of
economic” growth
Entrepreneurship thrives on strong eco-system – innovative
and R&D IHLs, funding community, capital market,
incubators and technology commercialisation
Lack of industry linked universities and technology brokers
– ‘crossing the chasm’
Shift to K-economy and building the ICT industry – creation
of the MSC
Identify young people with propensity and entrepreneurial
nature
Need to train young people early in their career and
exposure to entrepreneurship
26
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
Q & A Q & A Q & A Q & A - -- - THANK YOU THANK YOU THANK YOU THANK YOU
Dr Wilson Tay
HP: 012 611 2218
Contact Details: [email protected]
www.omniview.net
Omni View Consultancy (M) Sdn Bhd
These presentation slides and its contents, unless otherwise stated, is the copyright of Dr Wilson Tay, CEO and Principal Consultant
of Omni View Consultancy (M) Sdn Bhd. These slides are made available only to Malaysia Productivity Corporation (MPC) for the
purpose of a talk on ‘Innovation Driven Entrepreneurship’ by Dr Wilson Tay on 4 March 2011. Reproduction or retransmission of the
materials, in whole or in part, in any manner, without the prior written consent of Dr Wilson Tay is not permitted.
14 ©2010 Dr Wilson Tay, Omni View Consultancy (M) Sdn Bhd
27
Innovation Driven Entrepreneurship presented by Dr Wilson Tay
© 2011 Omni View Consultancy
A respected management leader, Dr Wilson Tay is also a well-established educator. He has risen through rank and file
roles as a manager to general manager and corporate chief executive in a career period spanning over thirty years in
Australasia and Malaysia. Dr Wilson has worked in many senior and diverse roles including Executive Director, Vice
President, Chief Operating Officer, Chief Knowledge Officer, Chief Executive Officer, Principal Consultant and Executive
Coach in well-known multinational corporations and public institutions overseas and locally.
His most recent role before re-careered into his current role was the CEO of the Malaysian Institute of Management.
Over the last 12 years, he has been involved in organizational development & turnaround, strategic & performance
management, entrepreneurs and executive coaching, and management consultancy and business advisory
assignments in Australasia and Malaysia. Prior to joining MIM, he was the Vice President of Multimedia Development
Corporation as the Head of the MSC Technopreneur Development Flagship responsible for the development of
technopreneurs and the ICT SMEs. Before that he was the CEO of TEC Asia Centre Sdn Bhd (now Vistage Malaysia), a
local partner organisation of TEC International which is involved in Chief Executive and Entrepreneurs coaching and
business advisory.
Dr Wilson possesses multiple professional and academic qualifications. He holds professional fellowship and
membership with the Institute of Chartered Accountants, the Australian Society of Certified Practicing Accountants,
the Institute of Chartered Secretaries and Administrators, the Institute of Corporate Managers and Administrators in
Australia, and is a Companion of the International Management Centres in United Kingdom and a registered US
Certified Financial Planner.
His academic qualifications include the Bachelor of Business, Graduate Diploma in Business & Administration, Master
of Business from the Curtin University of Technology and Doctor of Management (with Distinction) from IMC Southern
Cross University in Australia. He has been an adjunct Associate Professor and Faculty Member of several local and
overseas institutions of higher learning. His doctoral and post-doctoral areas of interest and research are in
entrepreneurship & innovation, knowledge management, human capital development, corporate performance and
change management.
Bio-Data of Dr Wilson Tay
doc_901822270.pdf