technology & the · agenda •technology has unleashed innovation & entrepreneurship...
TRANSCRIPT
Technology & the Entrepreneurial Revolution
Dr Gorkan Ahmetoglu
AGENDA
• Technology has unleashed Innovation & Entrepreneurship
• Competitive advantage is a function of innovation
• Which is a function of people and the ecosystem they’re in
Start-up rate as % of total employment (OECD, 1955-2013)
Is the world becoming more Entrepreneurial?
Source: Thomson Reuters, Derwent World Patents Index, 2017
Source: Thomson Reuters, Derwent World Patents Index, 2017
Innovation Diffusion
Time-span for innovation reaching 50% household penetration
• Telephones 70 years
• Radio 28 years
• Internet access 10 years
Innovation Diffusion
Time-span for innovation reaching 10 million users
• Facebook (2004) 852 days
• Twitter (2006) 780 days
• Google+ (2011) 16 days
Technological Effects
1. Efficiency/Productivity
2. Changing workforce
3. Changing Business models
4. Exponential innovation
FALC?
Technological Side-Effects
52% of the companies in the Fortune 500 have gone bankrupt, been acquired or ceased to exist since 2000 (2015)
My company will need to become more innovative to survive and thrive in the next 10 to 15 years
Y/N?
To what extent is your company’s success dependent on innovation?
Source: Accenture
My company has a clear strategy for becoming more innovative in the next 10 to 15 years
Y/N?
• Only 7% of executives consider their companies capable of addressing the effects of technology-driven changes
• Only 27% say that innovation is fully integrated into their strategic planning
Sources: Ernst & Young, McKinsey, Harvard Business Review
How do companies become more
entrepreneurial?
First rule
Second rule
• People can only innovate if they have the tools (resources), are allowed to, and encouraged to innovate
“Entrepreneurial Ecosystem”
Innovation output =
Entrepreneurial Talent X Ecosystem
Entrepreneurial Talent X Ecosystem
Relative and Contextual
Not Absolute and General
Conditional Element
Key Questions
1. How do I compare to my competitors in entrepreneurial talent?
2. How do I compare to my competitors in entrepreneurial ecosystem?
Identifying the Entrepreneurial
What do 70% of entrepreneurs have in
common?
They fail
9 years of research with UCL, Harvard, NYU
Studies with over ¼ million people in 25 countries
More than 100 empirical studies
Identifying Entrepreneurial Talent
Identifying Entrepreneurial Talent
Original
Opportunistic Proactive
Visionary
https://www.amazon.co.uk/Handbook-Entrepreneurship-2-V-Set/dp/1118970837
Brain Activation of High vs. Low META Scorers
Assessments
Identifying Entrepreneurial Talent with 85% accuracy
But can you nurture/handle them?
The Innovation Ecosystem
SENIOR LEADERSHIP
LINE MANAGEMENT
TEAMWORK
IDEATION
KNOWLEDGE
DECISION MAKING
REWARD
Ecosystem Components
To what extent do you agree with the following statements?
Leaders in my organisation...
1. Have a bolder, more inspiring vision for the business than competitors Y / N
2. Are more open to testing new ideas than competitors, even when these ideas are challenging or risky to implement Y / N
3. React quicker to market threats and opportunities than competitors Y / N
In my organisation…
1. Rewards for teams that come up with innovative new ideas are higher than that of competitors Y / N
2. We are less afraid of taking risks than competitor organisations Y / N
3. People are less afraid to do things differently than in competitor organisations Y / N
Where do you stand relatively?
Component Relative score
Senior Leadership Above
Line Leadership Above
Teamwork Average
Decision-Making Average
Knowledge Average
Ideation Below
Reward Average
Where do you stand relatively?
Component Relative score
Senior Leadership Below
Line Leadership Below
Teamwork Average
Decision-Making Below
Knowledge Average
Ideation Below
Reward Average
High EngagementLow Turnover
Modest innovation
Modest innovationLow Engagement
High Turnover
Low InnovationModest Engagement
High InnovationHigh Engagement
Low TurnoverIn
no
vati
on
Eco
syst
em
Entrepreneurial TalentLow High
Low
High
Akhtar, Ahmetoglu, Tsivrikos, & Chamorro-Premuzic (2018)
Disruption is Real…
and
In every industry changed by disruption,
the net effect has been total market growth
Thank [email protected]