Martes, Disyembre 6, 2011
Archive for the 'Innovation' Category
John Sunderland, the former CEO of Cadbury Schweppes, often responded with a parable when an executive argued that the business could increase either margins or sales, but not both. Sunderland would remind the executive of a time when people lived in mud huts and struggled to get both light and heat: Put a hole in the side of your hut, and you let the daylight in, but also the cold; block the opening, and you stayed warm, but sat in the dark. The invention of glass made it possible to have both light and heat. He would then ask, “Where is the glass?”
Skipping Design Research Can Be Costly
Skipping Design Research Can Be Costly
Skipping design research can be costly. For example, high-end German automobile manufacturers were stunned when U.S. customers would not buy cars without cup holders. While drinking coffee in the car seemed unthinkable to Europeans, it wouldn’t have taken much design research to learn how important it is to U.S. car buyers. The manufacturers, forced to retrofit, created some of the most complex, expensive, unreliable and least user-friendly cup holders ever produced. Design research findings are not typically assembled in the form of data and reports but are instead stories and characters, often captured on video. Such findings resemble and evoke real experience more powerfully than data and reports can, vividly conveying the desired emotional connections between people, products and services, and they help a company to triangulate these findings with appropriate technologies and economic objectives.
Encouraging Creativity and Innovation
In 1945 the Raytheon Company faced a tremendous demand for magnetron tubes to power the new radar system used to detect enemy aircraft. One day when a Raytheon engineer named Percy L. Spencer stepped too close to a magnetron tube, he noticed that the chocolate bar in his pocket had melted.
Other engineers had noticed the same thing, but didn’t give it much thought. Spencer, on the other hand, despite having only a grammar-school education, was intensely curious. He tried placing popcorn kernels in front of the tube—and a few minutes later, for the first time since cave-dwellers tamed fire, human beings cooked food in a new way.
A year earlier, anyone might have laughed at the idea of Raytheon selling ovens driven by magnetrons to restaurants and, eventually, households. “Absurd!” “Ridiculous!” “We’re in the defense business!” The Raytheon organization took a chance and listened to Percy Spencer. He wasn’t just a resident weirdo providing comic relief—on the contrary, Spencer’s input was constantly solicited, and he eventually served as a senior member of Raytheon’s board. In this case, his idea was rewarded with a shift in production, and within two years the company took the first Radarange® to the market.
History books rightly credit Percy Spencer with the invention of the microwave oven, but in fact his story also includes dozens of unsung heroes, starting with members of Raytheon’s management. They’d hired and promoted Spencer despite his lack of education. They didn’t chastise him for playing with his food in the middle of a serious engineering laboratory. They listened to him and built the Radarange—and then they searched within that market for new discontinuities.
Raytheon tried licensing the technology to other companies, such as Tappan Stove. (Its $3,000 refrigerator-sized microwave ovens were sold to customers with gigantic commercial kitchens, such as on ocean liners, that had to heat a lot of food quickly.) Raytheon then purchased its own domestic-appliance distributor, Amana Refrigeration, in 1965. In addition, Raytheon continually encouraged engineers to tinker with the magnetrons. Finally they figured out that an expensive, military-grade magnetron unit was somewhat over-engineered for the task of thawing frozen steaks and popping popcorn. They developed a smaller, cheaper, simpler, safer and more reliable oven for household use. Amana’s first countertop microwave oven, sold for $495 in 1967, represented a serious discontinuity in household kitchen behavior. In taking risks, Raytheon and Amana were uniquely prepared to take advantage of the huge societal discontinuities of the 1960s: urbanization, women entering the workforce and families devoting less time to meal preparation. Again, it seems obvious in retrospect: cheap and ubiquitous ovens, microwaveable food categories representing $75 billion in annual sales based on the premise of quickly thawing and cooking food. But at the time, the discontinuous mindset at Raytheon and Amana gave them long-term dominance in the home microwave oven business. There are plenty of other examples of unconventional thinkers thriving within traditional companies: Art Fry and Spencer Silver invented the Post-it note while working at 3M, and teams at Apple, amazon.com and General Foods invented the iPhone, Kindle and Tang, respectively. On the other side of the coin, there are also plenty of examples of people like A.P. Giannini—mavericks and free spirits who made their fortunes as entrepreneurs because they were not rewarded in traditional organizations. To encourage a discontinuous mindset, companies must have the proper reward structure to make the maverick’s suggestion of new ideas worthwhile.
Even today, many companies claim to encourage creativity and innovation, but their measurement and reward systems rarely support it. Creativity is messy. It leads to mistakes. (In Raytheon’s case, it took nearly 20 years of mistakes and “not-quite-enoughs” before the microwave’s big payout.) However, measuring results, rather than effort—and rewarding certainty, rather than potential—forces out the unconventional thinkers. It promotes those with modest aspirations, those who are slow and plodding. Reward mediocrity and you never exceed the mediocre.
Other engineers had noticed the same thing, but didn’t give it much thought. Spencer, on the other hand, despite having only a grammar-school education, was intensely curious. He tried placing popcorn kernels in front of the tube—and a few minutes later, for the first time since cave-dwellers tamed fire, human beings cooked food in a new way.
A year earlier, anyone might have laughed at the idea of Raytheon selling ovens driven by magnetrons to restaurants and, eventually, households. “Absurd!” “Ridiculous!” “We’re in the defense business!” The Raytheon organization took a chance and listened to Percy Spencer. He wasn’t just a resident weirdo providing comic relief—on the contrary, Spencer’s input was constantly solicited, and he eventually served as a senior member of Raytheon’s board. In this case, his idea was rewarded with a shift in production, and within two years the company took the first Radarange® to the market.
History books rightly credit Percy Spencer with the invention of the microwave oven, but in fact his story also includes dozens of unsung heroes, starting with members of Raytheon’s management. They’d hired and promoted Spencer despite his lack of education. They didn’t chastise him for playing with his food in the middle of a serious engineering laboratory. They listened to him and built the Radarange—and then they searched within that market for new discontinuities.
Raytheon tried licensing the technology to other companies, such as Tappan Stove. (Its $3,000 refrigerator-sized microwave ovens were sold to customers with gigantic commercial kitchens, such as on ocean liners, that had to heat a lot of food quickly.) Raytheon then purchased its own domestic-appliance distributor, Amana Refrigeration, in 1965. In addition, Raytheon continually encouraged engineers to tinker with the magnetrons. Finally they figured out that an expensive, military-grade magnetron unit was somewhat over-engineered for the task of thawing frozen steaks and popping popcorn. They developed a smaller, cheaper, simpler, safer and more reliable oven for household use. Amana’s first countertop microwave oven, sold for $495 in 1967, represented a serious discontinuity in household kitchen behavior. In taking risks, Raytheon and Amana were uniquely prepared to take advantage of the huge societal discontinuities of the 1960s: urbanization, women entering the workforce and families devoting less time to meal preparation. Again, it seems obvious in retrospect: cheap and ubiquitous ovens, microwaveable food categories representing $75 billion in annual sales based on the premise of quickly thawing and cooking food. But at the time, the discontinuous mindset at Raytheon and Amana gave them long-term dominance in the home microwave oven business. There are plenty of other examples of unconventional thinkers thriving within traditional companies: Art Fry and Spencer Silver invented the Post-it note while working at 3M, and teams at Apple, amazon.com and General Foods invented the iPhone, Kindle and Tang, respectively. On the other side of the coin, there are also plenty of examples of people like A.P. Giannini—mavericks and free spirits who made their fortunes as entrepreneurs because they were not rewarded in traditional organizations. To encourage a discontinuous mindset, companies must have the proper reward structure to make the maverick’s suggestion of new ideas worthwhile.
Even today, many companies claim to encourage creativity and innovation, but their measurement and reward systems rarely support it. Creativity is messy. It leads to mistakes. (In Raytheon’s case, it took nearly 20 years of mistakes and “not-quite-enoughs” before the microwave’s big payout.) However, measuring results, rather than effort—and rewarding certainty, rather than potential—forces out the unconventional thinkers. It promotes those with modest aspirations, those who are slow and plodding. Reward mediocrity and you never exceed the mediocre.
Failing to see the road to the future
Examples of those who fail to see the road to the future are often cited with hilarity. Take Harry Warner of Warner Brothers Studios, who commented in 1927 on the advent of soundtracks for moving pictures: “Who the hell wants to hear actors talk?“
Or take the senior management at Procter & Gamble when the disposable diaper was first suggested. According to diaper business folklore, P&G was conducting market research to find out what housewives liked about their cleaning products for soiled diapers. Inspired by comments of the form, “We don’t like anything about washing diapers,“ a P&G team came up with the idea for the disposable diaper. The team set about assessing the opportunity, estimating market volumes, projecting cash flows and profit margins, and preparing a presentation for P&G top management. The latter sat patiently through all the material, reviewed the market projections, and made it clear that they were impressed with all the work the team had done in analyzing the opportunity. “Just one question,“ they asked finally, “Where’s the soap?“
Or take the senior management at Procter & Gamble when the disposable diaper was first suggested. According to diaper business folklore, P&G was conducting market research to find out what housewives liked about their cleaning products for soiled diapers. Inspired by comments of the form, “We don’t like anything about washing diapers,“ a P&G team came up with the idea for the disposable diaper. The team set about assessing the opportunity, estimating market volumes, projecting cash flows and profit margins, and preparing a presentation for P&G top management. The latter sat patiently through all the material, reviewed the market projections, and made it clear that they were impressed with all the work the team had done in analyzing the opportunity. “Just one question,“ they asked finally, “Where’s the soap?“
Successful Failures
In a small pub in the highlands of Scotland a group of fishermen gathered one afternoon to swap tales over a round of ale. One of them stretched his arms apart to show the big one that got away. At that very point, a waitress walked past carrying a tray of full ale glasses. The fisherman’s wild gestures sent the tray smashing against the wall. The dark brew splashed on the white wall of the pub and began running down. The waitress and the fisherman tried to wipe the mess off the wall, but it had left an ugly dark stain. A man who had watched the whole scene from another table walked quietly over to the wall. With a brown pastel crayon he took from his pocket, he began to sketch. The entire pub watched in silent awe as a majestic stag with great spreading antlers magically took shape around the stain. The artist was Sir Edwin Henry Landseer, the top 19th British painter of animals.
Think Outside the Box
You are driving along in your car on a wild, stormy night, it’s raining heavily, when suddenly you pass by a bus stop, and you see three people waiting for a bus:
This is a dilemma that was once used as part of a job application.
He simply answered:
“I would give the car keys to my Old friend and let him take the lady to the hospital. I would stay behind and wait for the bus with the partner of my dreams.”
Sometimes, we gain more if we are able to give up our stubborn thought limitations. Never forget to “Think Outside the Box.”
- An old lady who looks as if she is about to die.
- An old friend who once saved your life.
- The perfect partner you have been dreaming about.
This is a dilemma that was once used as part of a job application.
- You could pick up the old lady, because she is going to die, and thus you
should save her first; - * or you could take the old friend because he once saved your life, and this
would be the perfect chance to ! pay him back. - However, you may never be able to find your perfect mate again.
He simply answered:
“I would give the car keys to my Old friend and let him take the lady to the hospital. I would stay behind and wait for the bus with the partner of my dreams.”
Sometimes, we gain more if we are able to give up our stubborn thought limitations. Never forget to “Think Outside the Box.”
Stop looking under the light for innovation
There’s an old story about a man searching for his lost keys under the light on a dark night, even though they were last seen elsewhere. When a passerby asks why he continues to search in the wrong spot, the man replies, “Because the light’s better over here.” Too often, companies search within their own sphere of knowledge rather than seeking solutions wherever they may be found.
The “Sneaker Game”
The date was December 9, 1934. The New York Giants were playing the Chicago Bears for the championship of the National Football League. The two teams were thought to be evenly matched, but there was a special factor that day that changed the dynamics of the game: heavy rains and cold temperatures had turned the field at New York’s Polo Grounds stadium into a virtual sheet of ice. The home team trailed 10-3 after two quarters and looked done for, as the visiting Bears were doing a much better job of slip-sliding up and down the field.
But in the Giants’ locker room at halftime, somebody had an idea. It had little to do with the sort of midgame adjustments that were common in football, such as changing offensive plays or defensive formations. This was completely different. The notion was that maybe the Giants would be more successful not by changing their game plan but by changing their shoes-specifically, by taking off their football cleats and wearing sneakers for better traction. A mad scramble turned up enough pairs to accommodate the team, and the sneakers ended up providing the Giants with sure footing that led to 27 second-half points and a 30-13 victory. The “Sneaker Game” became part of sporting lore.
The lesson to be learned from the Giants that day is that challenging the accepted way of doing things-daring to be different-is critical to progress and can bring great success.
But in the Giants’ locker room at halftime, somebody had an idea. It had little to do with the sort of midgame adjustments that were common in football, such as changing offensive plays or defensive formations. This was completely different. The notion was that maybe the Giants would be more successful not by changing their game plan but by changing their shoes-specifically, by taking off their football cleats and wearing sneakers for better traction. A mad scramble turned up enough pairs to accommodate the team, and the sneakers ended up providing the Giants with sure footing that led to 27 second-half points and a 30-13 victory. The “Sneaker Game” became part of sporting lore.
The lesson to be learned from the Giants that day is that challenging the accepted way of doing things-daring to be different-is critical to progress and can bring great success.
Biyernes, Disyembre 2, 2011
The 50 Best Inventions of 2010
Amtrak's Beef-Powered Train
Compared with its ultramodern counterparts in Europe and Japan, Amtrak is not a font of innovation. But on its Heartland Flyer — a daily service between Oklahoma City and Fort Worth, Texas — Amtrak is taking tentative steps toward a greener, low-carbon future. Since spring, the Heartland Flyer has been running on 20% biodiesel rather than the carbon-heavy diesel fuel on which Amtrak's other trains — with the exception of the electric Acela Express — currently operate. The biodiesel reduces air pollution and helps cash-strapped Amtrak save on fuel. And appropriately for a train in cow country, the biodiesel is made from rendered cattle fat. Biodiesel from beef burns cleaner than plant biodiesel, though it may not be scalable outside the beef belt.Google's Driver less Car
Is it an autoautomobile? An aut2.0mobile? Whatever you call it, Google's new Prius — tricked out with radar sensors, video cameras and a laser range finder — has driven itself 140,000 miles without an unscheduled meeting with a light pole. Other geek squads have been running driverless vehicles in the California desert for years, partly at the behest of the U.S. Department of Defense. But only Google can rev the petabyte-sucking mapping technology that guides its car along busy streets and highways. The goal is safety — an admirable one given the world's million-plus auto fatalities each year. Driverless technology is logical and efficient, and in the near future, it could transform your commute into stress-free transport on a motorized sofa. The sad part for road hogs: if Google is successful in marketing its technology to automakers, you may never get to flip the bird at another driver again.
Huwebes, Disyembre 1, 2011
APPROACH OF INNOVATION....New Approaches to Flood Hazard in Asian Cities
New Approaches to Flood Hazard in Asian Cities
The summer monsoon season of 2010 wrought havoc across many parts of Asia. Unprecedented floods in Pakistan unleashed a humanitarian disaster. China experienced widespread floods in the South and rain-induced slope instability in the North-west. Severe floods occurred in the central part of the Irrawaddy basin in Myanmar, induced by strong incursions of moist air from the Bay of Bengal. Even Singapore suffered from three incidents in June and July that caused significant damage to property. Images of Orchard Road underwater caused local embarrassment, reigniting debate about the role and responsibility of authorities to ensure flood protection. The aftermath of floods tends to focus attention upon the performance of engineered systems, typically invoking approaches such as widening drains or raising road levels. However, this is not the only solution to flood hazard, and emerging approaches to flood risk minimization has framed this issue in a much broader context. Such thinking builds upon continuing battle between flood hazard and technical solutions. Integrated approaches to river management increasingly frame these issues in relation to the concept of river repair. It is timely to consider new approaches to the management of flood hazards in Asian cities.
The recent history of flood management in Asian cities has largely been approached as a technical exercise. Floods are regarded as a threat requiring control through infrastructure and management by institutions. Such a reaction differs markedly from traditional land use practices that adapted to monsoon flood regimes across Asia. Settlement patterns and cultural practices evolved to accommodate the annual flood cycle. However, flood management is a moving target. Rapid urbanization has imposed increasingly difficult flood management challenges. Impermeable surfaces generate rapid runoff and flash flooding. Flood protection works have encouraged the expansion of cities into flood-prone areas. Land use zoning has often been ineffective in preventing settlement in these locations, placing property and communities at greater risk. Approaches to flood management in expanding urban areas have reallocated risk as channel and floodplain modification has altered flood regimes, and demands for flood protection in some locations have redistributed risks to other areas downstream. To date, this question of how structural intervention at one location redistributes risks and results in some groups being more vulnerable to flooding than others has received limited attention in Asian cities. Impacts of climate change will likely exacerbate these concerns through enhanced extremes of rainfall intensity. Viewed in this way, the prospect of addressing flood hazard solely through so called “command and control” engineering solutions looks problematic. From an earth science perspective, a longer term understanding of river flow dynamics is necessary. Outside China, few Asian countries have river discharge records going back more than a century. But the record of past floods can also be uncovered from the sediments preserved in depositional environments such as floodplains and wetlands. Interpreting the recent geological record for information about flood hazard over millennial scales would enhance our assessment of contemporary risk, providing clearer guidance upon the natural range of variability of these systems, and the recurrence intervals of large flood events.
An integrated approach to flood hazard management in Asian cities is the subject of a new research project being funded through the NUS Global Asia Institute (GAI). The mission of GAI is to provide in-depth insights to shape agendas for Asia in the twenty-first century. It focuses on integrative studies cutting across boundaries of disciplinary knowledge to focus on issues critical to Asia. The research project will examine the potential for integrated approaches to flood management through selected case studies of Asian cities. For example, the Ping River flows through the northern Thai city of Chiang Mai. Flooding is a frequent problem and appears to relate to urban encroachment onto the floodplain in recent years. Analysis of river flow records suggests a strong influence of El Nino events and typhoon disturbances on rainfall totals. Jakarta has a significant flood problem compounded by rapid rates of subsidence which increase risk from high tides as well as from storm events from the Ciliwung River. The river is an extreme example of floodplain encroachment with many squatter settlements building houses on the banks of the river.
In the aftermath of the 2010 floods across Asia, it may seem that the imperative of structural intervention to improve drainage and a broader concern with the ecological health of the river are working at cross purposes. Asia, some might contend, cannot afford to be sentimental about the aquatic ecology when dealing with the reality of flood hazard. The goals of a command and control strategy are typically focused on a single issue (flood control) approached primarily as a technical problem. This is manifested in the way that rivers in many Asian cities have been conceptualised as conduits whose function is to remove waste products (excess water, sediment and associated contaminants). Often these conduits are hydraulically smooth artificial channels which are separated visually and physically from surrounding human activities. This situation was typical in Singapore where straightened monsoon drains were constructed as part of new town development to serve flood control purposes. With changing perceptions of water as both a valuable resource (and the need to retain as much as possible for potable supply) and as a landscape feature integral to the image of a green (eco) city, the traditional approach to channel construction is being challenged. There are signs that the river repair paradigm can be established in the region. In Singapore, the ABC Waters Programme developed by the Public Utilities Board contains many elements of the philosophy of river repair. It repositions the focus from traditional functions of command-and-control engineering towards a more ecosystem-based approach. Perhaps pragmatically, much of the emphasis of the programme has focussed on aesthetics – the idea of making the engineered river landscape more attractive and, by doing so, more amenable to recreational and community use. The Asian River Restoration Network (ARRN) was established as a non-governmental organisation in 2006 to promote the exchange of knowledge and technology, particularly in relation to the Asian monsoon. National networks have been established in China, Korea and Japan, with the latter country providing secretariat support for the Asian network. ARRN argues for the necessity of countries in the Asian monsoon region to develop and share strategies for river restoration given the dense populations, regime of frequent flooding and abundant rice paddy.
DESPITE OF MANY FLOODS ........AN INNOVATION IS BEING CARRIED OUT IN DIFFERENT PATHS FOR LESS HAZARD DURING FLOODS.
The summer monsoon season of 2010 wrought havoc across many parts of Asia. Unprecedented floods in Pakistan unleashed a humanitarian disaster. China experienced widespread floods in the South and rain-induced slope instability in the North-west. Severe floods occurred in the central part of the Irrawaddy basin in Myanmar, induced by strong incursions of moist air from the Bay of Bengal. Even Singapore suffered from three incidents in June and July that caused significant damage to property. Images of Orchard Road underwater caused local embarrassment, reigniting debate about the role and responsibility of authorities to ensure flood protection. The aftermath of floods tends to focus attention upon the performance of engineered systems, typically invoking approaches such as widening drains or raising road levels. However, this is not the only solution to flood hazard, and emerging approaches to flood risk minimization has framed this issue in a much broader context. Such thinking builds upon continuing battle between flood hazard and technical solutions. Integrated approaches to river management increasingly frame these issues in relation to the concept of river repair. It is timely to consider new approaches to the management of flood hazards in Asian cities.
An integrated approach to flood hazard management in Asian cities is the subject of a new research project being funded through the NUS Global Asia Institute (GAI). The mission of GAI is to provide in-depth insights to shape agendas for Asia in the twenty-first century. It focuses on integrative studies cutting across boundaries of disciplinary knowledge to focus on issues critical to Asia. The research project will examine the potential for integrated approaches to flood management through selected case studies of Asian cities. For example, the Ping River flows through the northern Thai city of Chiang Mai. Flooding is a frequent problem and appears to relate to urban encroachment onto the floodplain in recent years. Analysis of river flow records suggests a strong influence of El Nino events and typhoon disturbances on rainfall totals. Jakarta has a significant flood problem compounded by rapid rates of subsidence which increase risk from high tides as well as from storm events from the Ciliwung River. The river is an extreme example of floodplain encroachment with many squatter settlements building houses on the banks of the river.
DESPITE OF MANY FLOODS ........AN INNOVATION IS BEING CARRIED OUT IN DIFFERENT PATHS FOR LESS HAZARD DURING FLOODS.
Miyerkules, Nobyembre 30, 2011
...EXTENT OF INNOVATION....How to board a non-stop train while it's moving
Do you always struggle to reach the platform in time when catching a train? Then how about a platform which comes to your house before catching up with a non-stop high-speed locomotive?
That's the idea behind Moving Platforms, a transport concept dreamt up Paul Priestman, director of British design group Priestmangoode.
The high-speed train would run non-stop between two ends of a continent, such as from Los Angeles to New York, never actually entering cities or towns. Instead, a network of trams would carry passengers out of the city to a line outside.
Jump on board a moving train (Image: Priestmangoode)
Artist's depiction of the local tram and non-stop high speed train docking to allow passengers to transfer from one train to another. (Image: Priestmangoode)
"You could get onto a tram on your street and then seamlessly travel from that onto the high-speed line and then get off at your destination in another city, then onto a tram and then end up at your destination without ever having gone in your car or perhaps got on a bus,"Priestman told CNN.
The tram would speed up while the train slowed down, allowing the two to safely dock for the same time a train would normally spend sitting in a station. Passengers could also use trams to transfer from one high-speed train to another.
But while the idea sounds innovative - New Scientist first featured it in an article in 1969.
Artist's depiction of the docking system viewed from the inside of the local tram (Image: Priestmangoode)
The idea echoes a similar scheme created by Taiwanese inventor Peng Yu-lun in 2007. Yu-lun's concept keeps regular platforms, but passengers use them to board a small shuttle that attaches to the roof of a high-speed train.
THIS IS CALLED ENDLESS INNOVATION..................................
The Entrepreneur
Manage the risk of starting a business by learning how different entrepreneurs overcome the hurdles of new businesses through actual cases and success stories. Gain powerful concepts and tools that create successful entrepreneurs, learn how to find opportunities and create workable business plans that will help you pursue your dream business. This program will teach you "how to" of setting up a business: the investment involved; the operations of the business; the market you need to target and the proper management of finances.
1. Packaging oneself
Becoming an entrepreneur entails effective packaging of one's talents and capabilities. The topic helps would-be entrepreneur to gain the self-confidence needed to start, sustain, and grow a business.
2. Entrepreneurial Mindset
Gets the students in touch with their strengths and weaknesses. It includes the development of whole-brain thinking (e.g. creative and logic).
3. Marketing for startups
An in-depth marketing knowledge is essential in establishing a business. The topic teaches the students to use IT as a tool for finding and evaluating opportunities in the market.
4. Creating networks
Creates guidelines to develop valuable network essential for entrepreneurs. It teaches students to effectively create business networks.
5. Starting a business and sustaining operations
Discusses the procedures and step-by-step action in putting up and sustaining the operations of a venture.
6. Basic management of people
Teaches the students with insights to create effective organizational setups, define their functions, and provide guidelines in hiring the right personnel.
7. Basic accounting for startups
Provides practical knowledge in recording business transactions, basic theories of accounting, and understanding financial statements.
8. Finance for startups
Includes understanding the flow of funds and how to raise funds to start up the business.
9. Planning for startups
Integrates the various concepts learned and guide the students in a process for choosing the business, formulating a vision statement and specific objectives.
10. Paper on the Action plan
Requires students to submit a schema of their plan on starting their freelance venture or startup business integrating the knowledge they learned.
1. Packaging oneself
Becoming an entrepreneur entails effective packaging of one's talents and capabilities. The topic helps would-be entrepreneur to gain the self-confidence needed to start, sustain, and grow a business.
2. Entrepreneurial Mindset
Gets the students in touch with their strengths and weaknesses. It includes the development of whole-brain thinking (e.g. creative and logic).
3. Marketing for startups
An in-depth marketing knowledge is essential in establishing a business. The topic teaches the students to use IT as a tool for finding and evaluating opportunities in the market.
4. Creating networks
Creates guidelines to develop valuable network essential for entrepreneurs. It teaches students to effectively create business networks.
5. Starting a business and sustaining operations
Discusses the procedures and step-by-step action in putting up and sustaining the operations of a venture.
6. Basic management of people
Teaches the students with insights to create effective organizational setups, define their functions, and provide guidelines in hiring the right personnel.
7. Basic accounting for startups
Provides practical knowledge in recording business transactions, basic theories of accounting, and understanding financial statements.
8. Finance for startups
Includes understanding the flow of funds and how to raise funds to start up the business.
9. Planning for startups
Integrates the various concepts learned and guide the students in a process for choosing the business, formulating a vision statement and specific objectives.
10. Paper on the Action plan
Requires students to submit a schema of their plan on starting their freelance venture or startup business integrating the knowledge they learned.
Martes, Nobyembre 29, 2011
Innovation
The process by which an idea or invention is translated into a good or service for which people will pay, or something that results from this process.
To be called an innovation, an idea must be replicable at an economical cost and must satisfy a specific need. Innovation involves deliberate application of information, imagination, and initiative in deriving greater or different value from resources, and encompasses all processes by which new ideas are generated and converted into useful products. In business, innovation often results from the application of a scientific or technical idea in decreasing the gap between the needs or expectations of the customers and the performance of a company's products. In a social context, innovation is equally important in devising new collaborative methods such as alliance creation, joint venturing, flexible working hours, and in creating buyers' purchasing power through methods such as layaway plans. Innovations are divided into two broad categories: (1) Evolutionary innovations are brought about by numerous incremental advances in technology or processes and are of two types (a) Continuous evolutionary innovations result in an alteration in product characteristics instead of in a new product, and do not require any user-learning or changes in his or her routine. Examples are the multiblade shaving razor, fluoride toothpaste, and laptop computers. (b) Dynamic continuous evolutionary innovations require some user-learning but do not disrupts his or her routine. Examples are fax machines, instant photography, and handheld computers. (2) Revolutionary innovations (also called discontinuous innovations) require a good deal of user-learning, often disrupt his or her routine, and may even require new behavior patterns. Examples are photocopier (xerography) machines, personal computers, and the Internet. Innovation is synonymous with risk-taking and organizations that introduce revolutionary products or technologies take on the greatest risk because they have to create new markets. A less risky innovation strategy is that of the imitator who starts with a new product (usually created by a revolutionary-innovator) having a large and growing demand. The imitator then proceeds to satisfy that demand better with a more effective approach. Examples are IBM with its PC against Apple Computer, Compaq with its cheaper PCs against IBM, and Dell with its still-cheaper clones (sold directly to the customer) against Compaq. Although many innovations are created from inventions, it is possible to innovate without inventing, and to invent without innovating.
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