Slides Hans Crijns - Experience Vlerick Day 25/09/2014

1. ENTREPRENEURS STAY ON TOP OF THE WORLD
EXPERIENCE VLERICK 2014
PROF. HANS CRIJNS, PARTNER

2. VLERICK BUSINESS SCHOOL
Vlerick Business School is to substantially contribute to the
development of management and entrepreneurship in an
International context by carrying out Academic Research -
Knowledge Creation - and by offering high quality
Management Education - Knowledge Transfer.
Vlerick Business School intends to actively contribute to
networking amongst its current and former participants and
to create forum action for the Management Community,
Government and Society.
© Vlerick Business School
2

3. ENTREPRENEURSHIP AND MANAGEMENT
© Vlerick Business School
3
ENTREPRENEURSHIP
MANAGEMENT
Initial
discovery
Opportunity
refinement
Market
making
Resource
acquisition
(New) co-ordination
of
(new) resources
Co-ordination
of old
resources/on-going
activity
Discovery process
Exploitation process

4. Today’s businesses, especially
the large ones, simply will not
survive in this period of rapid
change and innovation unless
they acquire entrepreneurial
competences.
Peter Drucker
1985 (!)
© Vlerick Business School
4
AG - The Entrepreneurial Manager
200
5

5. The economy as a thundercloud
Job creation Job destruction
Bron: David Birch, MIT and Cognetics Inc., USA in ‘Dynamic Entrepreneurship in Central and Eastern Europe’, 1993.
Top 500
Big
Small

6. “FORTUNE TOP 500” COMPANIES
1996
Mitsubishi 1
Mitsui 2
Itochu 3
Wal-mart 4
Microsoft 219
2006
137
348
328
1
41

7. “FORBES” MOST VALUABLE CO’S
October 2011
Apple 1
Exxon Mobil 2
Nestlé 5
Microsoft 6
Google 12
General Electric 20

9. “Every morning in Africa, a gazelle wakes up.
It knows it must run faster than the fastest lion or it will
be killed.
Every morning a lion wakes up.
It knows it must run faster than the slowest gazelle or it
will starve to death.
It doesn’t matter whether you are a lion or a gazelle.
When the sun comes up, you better start running”.
- Thomas L. Friedman (in “The World Is Flat”) -

10. IMAGES OF “ENTREPRENEURSHIP”?
© Vlerick Business School

11. STUDENT’S INTEREST IN ENTREPRENEURSHIP
© Vlerick Business School
11
12%
10%
7%
15%
19%
33%
10%
67%
Vlerick
USA
EU
B
Within 30
years after
completing studies
Within 3
years after
completing studies
Source: Ministry of Economical Affairs/Netherlands

12. ENTREPRENEURS ?
© Vlerick Business School

13. What is in your view a « good»
entrepreneur?
Important characteristics?
Conditions for a « good idea » ?
13

14. ENTREPRENEURIAL ATTRIBUTES
Initiative
Strong persuasive powers
Moderate rather than high risk-taking ability
Flexibility
Creativity
Problem-solving ability
Need for achievement
Imagination
High belief in control of one’s own destiny
Leadership
Hard work
N° 1 Predicting value : ????
© Vlerick Business School

15. © Vlerick Business School

16. 16
“The reasonable man adapts
himself to the world,
the unreasonable one persists in trying
to adapt the … to ….
Therefore all progress depends
on the …….. man”
(G.B. Shaw)

19. FAILURE?
“The greatest glory in living
lies not in never falling,
but in rising every time we fall."
© Vlerick Business School
(Nelson Mandela)

20. How entrepreneurial is your
organisation/company/business
unit/department… ?
20
E.O. Perception “As is”?

21. ENTREPRENEURSHIP AND MANAGEMENT
© Vlerick Business School
21
ENTREPRENEURSHIP
MANAGEMENT
Initial
discovery
Opportunity
refinement
Market
making
Resource
acquisition
(New) co-ordination
of
(new)
resources
Co-ordination
of old
resources/on-going
activity
Discovery process
Exploitation process

22. STRATEGY  ENTREPRENEURIAL ORIENTATION
An entrepreneurial firm is one that engages in
product-market innovation, undertakes somewhat
risky ventures, and is first to come up with
“proactive” innovations, beating competitors to the
punch.
A non-entrepreneurial firm is one that innovates very little, is
highly risk averse, and imitates the moves of competitors instead
of leading the way.
Danny MILLER
(Canada)
© Vlerick Business School
Entrepreneurial Orientation (EO) =
Risk Taking
Proactiveness
Innovativeness
22 AG - The Entrepreneurial Manager

23. INNOVATIVENESS
“A willingness to introduce novelty through
experimentation and creative processes
aimed at developing new products and
services as well as new processes”
Your score :
1 low 2 medium 3 high
© Vlerick Business School

24. PROACTIVENESS
“A forward-looking perspective characteristic of a
marketplace leader that has the foresight to
seize opportunities in anticipation of future
demand”
Your score :
1 low 2 medium 3 high
© Vlerick Business School

25. RISK TAKING
“Making decisions and taking action without
certain knowledge of probable outcomes; some
undertakings may also involve making
substantial resource commitments in the process
of venturing forward”
Your score :
1 low 2 medium 3 high
© Vlerick Business School

26. LEO HEO
Stable
Reliable quality
Secure
Risk Averse
Proven Track Record
Continuous improvement
© Vlerick Business School
Opportunistic
Dynamic
Out of the box
Risk taking and sharing
New challenges
Drastic change
LEO VS HEO

27. INGREDIENTS OF E.O.
Imagination and creativity
Promoting creation, distribution and usage of knowledge
Supporting information and communication infrastructure
Social architecture
Under no circumstances will all innovations succeed!
=> Matching Internal capabilities & External
opportunities
© Vlerick Business School
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28. DECLINE OF THE GENIUS
© Vlerick Business School
28
Age % divergent thinking
3 -5 98 %
8 -10 32 %
13 -15 10 %
(from Ken Robertson, 2006)
+25 2 %

29. External
environment
Ingredients
of EO
What does
it require?
Entrepreneurial
orientation
EO
Performance

30. WHAT DOES IT REQUIRE ?
(LINK WITH PERFORMANCE !)
Devise a coherent strategic focus
Assessment of emerging entrepreneurial opportunities
Integration entrepreneurial pathways with existing activities
Timing of strategic decisions in line with environmental
requirements ( = speed)
Excellence in project execution: 5% inspiration and 95% perspiration
© Vlerick Business School

31. THE PARADOX
“Nothing can start / be created without
enthousiasm and creativity …,
… but nothing can last without systems and
control”
© Vlerick Business School

33. FEEL LIKE SOME MORE?
• In search of new business Opportunities (start 2
October)
• SME Excellence (start 12 November)
• Executive Master Class Entrepreneurship &
Innovation (start 22 October)
© Vlerick Business School
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34. ENTREPRENEURS,
STAY ON TOP OF THE
WORLD
HANS CRIJNS
Multi room 2
DEFINING YOUR PATH
TO SUCCESS
INGE DECLIPPELEER
Lecture room 1
LEVERAGING YOUR
CUSTOMERS
MARION DEBRUYNE
Lecture room 5