Description
Abstract explain why is strategy, innovation and entrepreneurship so important.
0SYB IB0SSuu2 S12u1S
1
1ab|e of Contents
Week 1 - ................................................................................................................ 3
Limitations of peispectives ........................................................................................................................... S
Week 2 - Creat|v|ty, Innovat|on, and Lntrepreneursh|p .......................................... 3
Cieativity Befinition ......................................................................................................................................... S
Innovation Befinition ....................................................................................................................................... 4
Entiepieneuiship Befinition ........................................................................................................................ 6
Week 3 - Strategy, IC (M8V), k8V, ......................................................................... 7
What is stiategy. ................................................................................................................................................ 7
Schools of Stiategy: ........................................................................................................................................... 8
Putting stiategy in its place... ...................................................................................................................... 11
A mouel of stiategic entiepieneuiship .................................................................................................. 1S
Impoitance of giowth .................................................................................................................................... 1S
ueneializeu piouuct life cycle .................................................................................................................... 1S
Week 4 - .............................................................................................................. 16
Enviionment: PESTLN ................................................................................................................................... 16
Inuustiy: S foices, value Net ....................................................................................................................... 16
Week S - nambr|ck & Iredr|ckson strategy d|amond ........................................... 16
Bambiick - Aie you suie you have a stiategy. ................................................................................... 16
Ciitiquing the Bambiick ............................................................................................................................... 17
Week 7 - Stages of growth, f|rst mover, & |nnovat|on traps ................................. 19
Stages of giowth ............................................................................................................................................... 2u
Fiist movei auvantage ................................................................................................................................... 21
Segmentation, taigeting, positioning: unueistanu youi customei ............................................ 21
Classic Innovation tiaps (Kantei 2uu6) ................................................................................................. 22
Canals - Bow to Think About Coipoiate uiowth. (2uu1) ............................................................. 22
uuumunusson anu Lechnei - Cognitive biases, oiganisations, anu entiepieneuiial fiim
suivival (2u1S) ................................................................................................................................................. 24
Week 8 - Cha||enges of growth perspect|ves, IM, & Innovat|on radar .................. 2S
Reasons foi Failuie: ........................................................................................................................................ 26
Innovation Rauai (Sawhney, Wolcott anu Aiioniz 2uu6) ............................................................. 28
Infoimation Nemoianua (Business Plan) ............................................................................................. Su
Week 9 - 1urnarounds, ........................................................................................ 31
Stiategic Agility (Boz anu Kosonen, 2u1u) ........................................................................................... S1
0iganisational uesign .................................................................................................................................... S1
Nouels of stiategic piocess ......................................................................................................................... S2
Expeiiential economy (Pine & uilmoie 1999) .................................................................................... SS
Chesbiough - Business Nouel Innovation: 0ppoitunities & Baiiieis (2u1u) ...................... SS
Week 10 - case and conf||ct between entrepreneur and |nvestor ......................... 36
Steve vs. Richaiu consulting case ............................................................................................................. S6
Collewaeit anu Fassin - Conflicts between entiepieneuis anu investois (2u1S) .............. S7
Week 11 - *IMÞCk1AN1* debt, equ|ty, & se|f-funded growth ............................. 38
Which is cheapei: uebt oi equity. ............................................................................................................ S8
Stages of capital ................................................................................................................................................ S9
Level of contiol ................................................................................................................................................. S9
0SYB IB0SSuu2 S12u1S
2
Staitup cashflow summaiy .......................................................................................................................... S9
Souices of capital ............................................................................................................................................. S9
valuation methouologies of companies ................................................................................................. 4u
Woiking capital ................................................................................................................................................ 41
Bootstiapping .................................................................................................................................................... 41
SNEs vs. young fiims ...................................................................................................................................... 42
Nailow anu Patton - All Cieuit to Nen. Entiepieneuiship, Finance, anu uenuei (2uuS)
.................................................................................................................................................................................. 42
Week 12 - ............................................................................................................ 44
Infoimal sectoi .................................................................................................................................................. 44
vulneiabilities of sectoi ................................................................................................................................ 44
Theoiies suppoiting the sectoi ................................................................................................................. 46
Social entiepieneuiship ............................................................................................................................... 46
Exam Tips:
• Befinition
• Ciiticise
• Examples (one oi two anu shoulu be oiiginal)
• Suggest impiovements to theoiy
0SYB IB0SSuu2 S12u1S
S
Week 1 -
Why is stiategy, innovation anu entiepieneuiship so impoitant.
L|m|tat|ons of perspect|ves
Stiategists' peispectives tenu to:
• Examine competition piimaiily fiom an intei-company peispective (eg.
Poitei´s S foices uoes not see complementois)
• Suffei fiom high level of abstiaction
• Beavy ieliance on micioeconomic concepts
• 0veisimplify ieality
• Explain events by cognitively lineai explanations
• See "Bonua Effect" by Pascale
Week 2 - Creat|v|ty, Innovat|on, and Lntrepreneursh|p
Creat|v|ty Def|n|t|on
'is the ability to piouuce woik that is both novel (i.e. oiiginal anu unexpecteu)
anu appiopiiate (i.e. useful, valuable oi meeting the task constiaints) to the
extent that the task is heuiistic iathei than algoiithmic (i.e. not having a cleai oi
iuentifiable path to solution)' (Amabile 1996, Steinbeig & Lubait 1996)
!"#"$%$"&'( * +,- .&"'$
• Cieativity uoes not mean you captuie the value of the piouuct
• Woikloau piessuie anu oiganizational impeuiments inhibit cieativity,
wheieas challenging woik suppoits cieativity.
! To test cieativity: Toiiance Tests of Cieative Thinking (TTCT) - this measuies
uiveigent thinking, which is uiffeient to cieativity.
! Bistoiy of cieativity: Ait, uiscoveiy (ancient uiee), mystic (gous anu
uaemons)! imagination, talent & genius (18
th
centuiy & Renaissance)
Þrotect|ng creat|v|ty: Þatent, Copyr|ght, trademarks, des|gn reg|strat|on, etc.
/%$,'$:
! A iight that is gianteu foi any uevice, substance, methou oi piocess that is
new, inventive, anu useful.
! A patent is legally enfoiceable anu gives you (the ownei), exclusive iights
to commeicially exploit the invention foi the life of the patent
0&.-1"23$
! Copyiight piotection is fiee anu automatic in Austialia anu piotects the
oiiginal expiession of iueas, anu not the iueas themselves
! Typical copyiight useu foi books, films, music, newspapeis, aitwoik etc.
! They also piotect oiiginally cieateu: incluuing typogiaphical aiiangements,
uatabases, meuia bioaucasts, computei piogiams, compositions of othei
people's woik such as acauemic jouinals oi CB compilations
0SYB IB0SSuu2 S12u1S
4
41%5,#%1+
! To uistinguish the goous anu seivices of one tiauei fiom those of anothei.
! A iight that is gianteu foi a lettei, numbei, woiu, phiase, sounu, smell,
shape, logo, pictuie anu¡ oi aspect of packaging
! A iegisteieu tiauemaik is legally enfoiceable anu gives you exclusive iights
to commeicially use, licence oi sell it foi the goous anu seivices that it is
iegisteieu unuei
6,("2'( 1,2"($1%$"&'
! To piotect uesigns which have an inuustiial oi commeicial use
! uives the ownei exclusive iights to commeicially use it, licence oi sell it
/7%'$ 81,,5,1(9 1"23$( etc.
See http:¡¡ipaustialia.gov.au
Innovat|on Def|n|t|on
"An innovation is the implementation of a new oi significantly impioveu piouuct
(goous oi seivices), oi piocess, a new maiketing methou, oi a new
oiganizational methou in business piactices, woikplace oigan"
To innovate is to make changes in something establisheu, oi intiouuce
something new (especially by intiouucing new methous, iueas, oi piouucts)
Innovation, unlike cieativity, is its !"#$%"%&'('!)&. Beie, the iuea is shaieu with
anu appieciateu by its auuience. It is the auuience that ueciues if the iuea is
cieative oi not.
Innovatois BNA:
https:¡¡www.youtube.com¡watch.v=FSxSinvvRLw&inuex=2S&list=WL
Incrementa| |nnovat|on
A seiies of small impiovements to an existing piouuct oi piouuct line that
usually helps maintain oi impiove its competitive position ovei time.
It is iegulaily useu within high technology business by companies that neeu to
continue to impiove theii piouucts to incluue new featuies incieasingly uesiieu
by consumeis.
Susta|n|ng |nnovat|on
Impioves the peifoimance of existing piouucts. They may be eithei
"uiscontinuous" (i.e. 'tiansfoimational') oi "continuous" (i.e. 'evolutionaiy'), anu
impiove the peifoimance that mainstieam customeis anu majoi maikets have
(histoiically) valueu.
Nost auvances in any given inuustiy aie sustaining in chaiactei, as paiticipants
leain consumei expectations anu 'iules of engagement' with theii competitois.
doc_195629911.pdf
Abstract explain why is strategy, innovation and entrepreneurship so important.
0SYB IB0SSuu2 S12u1S
1
1ab|e of Contents
Week 1 - ................................................................................................................ 3
Limitations of peispectives ........................................................................................................................... S
Week 2 - Creat|v|ty, Innovat|on, and Lntrepreneursh|p .......................................... 3
Cieativity Befinition ......................................................................................................................................... S
Innovation Befinition ....................................................................................................................................... 4
Entiepieneuiship Befinition ........................................................................................................................ 6
Week 3 - Strategy, IC (M8V), k8V, ......................................................................... 7
What is stiategy. ................................................................................................................................................ 7
Schools of Stiategy: ........................................................................................................................................... 8
Putting stiategy in its place... ...................................................................................................................... 11
A mouel of stiategic entiepieneuiship .................................................................................................. 1S
Impoitance of giowth .................................................................................................................................... 1S
ueneializeu piouuct life cycle .................................................................................................................... 1S
Week 4 - .............................................................................................................. 16
Enviionment: PESTLN ................................................................................................................................... 16
Inuustiy: S foices, value Net ....................................................................................................................... 16
Week S - nambr|ck & Iredr|ckson strategy d|amond ........................................... 16
Bambiick - Aie you suie you have a stiategy. ................................................................................... 16
Ciitiquing the Bambiick ............................................................................................................................... 17
Week 7 - Stages of growth, f|rst mover, & |nnovat|on traps ................................. 19
Stages of giowth ............................................................................................................................................... 2u
Fiist movei auvantage ................................................................................................................................... 21
Segmentation, taigeting, positioning: unueistanu youi customei ............................................ 21
Classic Innovation tiaps (Kantei 2uu6) ................................................................................................. 22
Canals - Bow to Think About Coipoiate uiowth. (2uu1) ............................................................. 22
uuumunusson anu Lechnei - Cognitive biases, oiganisations, anu entiepieneuiial fiim
suivival (2u1S) ................................................................................................................................................. 24
Week 8 - Cha||enges of growth perspect|ves, IM, & Innovat|on radar .................. 2S
Reasons foi Failuie: ........................................................................................................................................ 26
Innovation Rauai (Sawhney, Wolcott anu Aiioniz 2uu6) ............................................................. 28
Infoimation Nemoianua (Business Plan) ............................................................................................. Su
Week 9 - 1urnarounds, ........................................................................................ 31
Stiategic Agility (Boz anu Kosonen, 2u1u) ........................................................................................... S1
0iganisational uesign .................................................................................................................................... S1
Nouels of stiategic piocess ......................................................................................................................... S2
Expeiiential economy (Pine & uilmoie 1999) .................................................................................... SS
Chesbiough - Business Nouel Innovation: 0ppoitunities & Baiiieis (2u1u) ...................... SS
Week 10 - case and conf||ct between entrepreneur and |nvestor ......................... 36
Steve vs. Richaiu consulting case ............................................................................................................. S6
Collewaeit anu Fassin - Conflicts between entiepieneuis anu investois (2u1S) .............. S7
Week 11 - *IMÞCk1AN1* debt, equ|ty, & se|f-funded growth ............................. 38
Which is cheapei: uebt oi equity. ............................................................................................................ S8
Stages of capital ................................................................................................................................................ S9
Level of contiol ................................................................................................................................................. S9
0SYB IB0SSuu2 S12u1S
2
Staitup cashflow summaiy .......................................................................................................................... S9
Souices of capital ............................................................................................................................................. S9
valuation methouologies of companies ................................................................................................. 4u
Woiking capital ................................................................................................................................................ 41
Bootstiapping .................................................................................................................................................... 41
SNEs vs. young fiims ...................................................................................................................................... 42
Nailow anu Patton - All Cieuit to Nen. Entiepieneuiship, Finance, anu uenuei (2uuS)
.................................................................................................................................................................................. 42
Week 12 - ............................................................................................................ 44
Infoimal sectoi .................................................................................................................................................. 44
vulneiabilities of sectoi ................................................................................................................................ 44
Theoiies suppoiting the sectoi ................................................................................................................. 46
Social entiepieneuiship ............................................................................................................................... 46
Exam Tips:
• Befinition
• Ciiticise
• Examples (one oi two anu shoulu be oiiginal)
• Suggest impiovements to theoiy
0SYB IB0SSuu2 S12u1S
S
Week 1 -
Why is stiategy, innovation anu entiepieneuiship so impoitant.
L|m|tat|ons of perspect|ves
Stiategists' peispectives tenu to:
• Examine competition piimaiily fiom an intei-company peispective (eg.
Poitei´s S foices uoes not see complementois)
• Suffei fiom high level of abstiaction
• Beavy ieliance on micioeconomic concepts
• 0veisimplify ieality
• Explain events by cognitively lineai explanations
• See "Bonua Effect" by Pascale
Week 2 - Creat|v|ty, Innovat|on, and Lntrepreneursh|p
Creat|v|ty Def|n|t|on
'is the ability to piouuce woik that is both novel (i.e. oiiginal anu unexpecteu)
anu appiopiiate (i.e. useful, valuable oi meeting the task constiaints) to the
extent that the task is heuiistic iathei than algoiithmic (i.e. not having a cleai oi
iuentifiable path to solution)' (Amabile 1996, Steinbeig & Lubait 1996)
!"#"$%$"&'( * +,- .&"'$
• Cieativity uoes not mean you captuie the value of the piouuct
• Woikloau piessuie anu oiganizational impeuiments inhibit cieativity,
wheieas challenging woik suppoits cieativity.
! To test cieativity: Toiiance Tests of Cieative Thinking (TTCT) - this measuies
uiveigent thinking, which is uiffeient to cieativity.
! Bistoiy of cieativity: Ait, uiscoveiy (ancient uiee), mystic (gous anu
uaemons)! imagination, talent & genius (18
th
centuiy & Renaissance)
Þrotect|ng creat|v|ty: Þatent, Copyr|ght, trademarks, des|gn reg|strat|on, etc.
/%$,'$:
! A iight that is gianteu foi any uevice, substance, methou oi piocess that is
new, inventive, anu useful.
! A patent is legally enfoiceable anu gives you (the ownei), exclusive iights
to commeicially exploit the invention foi the life of the patent
0&.-1"23$
! Copyiight piotection is fiee anu automatic in Austialia anu piotects the
oiiginal expiession of iueas, anu not the iueas themselves
! Typical copyiight useu foi books, films, music, newspapeis, aitwoik etc.
! They also piotect oiiginally cieateu: incluuing typogiaphical aiiangements,
uatabases, meuia bioaucasts, computei piogiams, compositions of othei
people's woik such as acauemic jouinals oi CB compilations
0SYB IB0SSuu2 S12u1S
4
41%5,#%1+
! To uistinguish the goous anu seivices of one tiauei fiom those of anothei.
! A iight that is gianteu foi a lettei, numbei, woiu, phiase, sounu, smell,
shape, logo, pictuie anu¡ oi aspect of packaging
! A iegisteieu tiauemaik is legally enfoiceable anu gives you exclusive iights
to commeicially use, licence oi sell it foi the goous anu seivices that it is
iegisteieu unuei
6,("2'( 1,2"($1%$"&'
! To piotect uesigns which have an inuustiial oi commeicial use
! uives the ownei exclusive iights to commeicially use it, licence oi sell it
/7%'$ 81,,5,1(9 1"23$( etc.
See http:¡¡ipaustialia.gov.au
Innovat|on Def|n|t|on
"An innovation is the implementation of a new oi significantly impioveu piouuct
(goous oi seivices), oi piocess, a new maiketing methou, oi a new
oiganizational methou in business piactices, woikplace oigan"
To innovate is to make changes in something establisheu, oi intiouuce
something new (especially by intiouucing new methous, iueas, oi piouucts)
Innovation, unlike cieativity, is its !"#$%"%&'('!)&. Beie, the iuea is shaieu with
anu appieciateu by its auuience. It is the auuience that ueciues if the iuea is
cieative oi not.
Innovatois BNA:
https:¡¡www.youtube.com¡watch.v=FSxSinvvRLw&inuex=2S&list=WL
Incrementa| |nnovat|on
A seiies of small impiovements to an existing piouuct oi piouuct line that
usually helps maintain oi impiove its competitive position ovei time.
It is iegulaily useu within high technology business by companies that neeu to
continue to impiove theii piouucts to incluue new featuies incieasingly uesiieu
by consumeis.
Susta|n|ng |nnovat|on
Impioves the peifoimance of existing piouucts. They may be eithei
"uiscontinuous" (i.e. 'tiansfoimational') oi "continuous" (i.e. 'evolutionaiy'), anu
impiove the peifoimance that mainstieam customeis anu majoi maikets have
(histoiically) valueu.
Nost auvances in any given inuustiy aie sustaining in chaiactei, as paiticipants
leain consumei expectations anu 'iules of engagement' with theii competitois.
doc_195629911.pdf