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part 10: Global entrepreneurship class

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part 10: Global entrepreneurship class

part 10: Global entrepreneurship class

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    part 10: Global entrepreneurship class part 10: Global entrepreneurship class Presentation Transcript

    • Developing Global Mindset for Entrepreneurs
    • Class #10 Saturday June 12th , 2010 * MAYBE ON THURSDAY (?)
    • Professor of international finance and global entrepreneurship with Forum-Nexus Study Abroad. Guest lecturer with the IQS Business School of the Ramon Llull University in Barcelona, and the Catholic University of Milan. Previously, Brian taught finance, economics and global trade courses at Thunderbird’s Global MBA program in Miami, and worked as a research analyst at the Columbia University Business School in New York City. briandbutler@gmail.com A global citizen, Brian was born in Canada, raised in LinkedIn/briandbutler Switzerland (where he attended international British school), educated through university in the U.S., started his career with a Japanese company, moved to New York to work as an Skype: briandbutler analyst, married a Brazilian, and has traveled extensively in Latin America, Asia, Europe and North America. Brian currently lives in Recife, Brazil where he is teaching classes on “Global Entrepreneurship” at the university FBV.
    •  Today- last lecture before exam  Exam 30% of your grade!! ▪ Need to decide: ▪ Saturday - June 19th (?) -- OR -- ▪ Thursday – June 17th  One week later – team project due  Saturday June 26th - submit by EMAIL 25% of your grade!!
    •  You MUST return Exam#1 BEFORE taking Exam #2  You will not be allowed to take exam #2 without turning in Exam #1  If you forget it… you will be asked to go home, and return with it!!!! Please don’t forget!!!
    •  Social networks & Entrepreneurs  Entrepreneurship Clusters + Economic Development  International IQ – Brazil – risks / opportunities
    •  Homework / assignments:  I f you missed any homework… you may still submit them!  How? Review slides from previous lectures. Look for homework assignments. If you didn’t do any… DO THEM NOW!!!!  Group Project  Get together and start working today!  Don’t wait till the last second!!
    • overview
    • Entrepreneurship and Economic Development  Economic development through innovation and entrepreneurship  Development through transfers of technology and business models  Geographic Clusters of innovation: What makes Silicon Valley work?  Is India the next emerging competitor to Silicon Valley?  VC and innovation clusters – Silicon Valley, Boston, Israel. What’s missing in Europe? Latin America? A look at cultural, political, and economics issues.  Innovation Eco-systems: innovative potential of places
    •  “The rise of Silicon Valley has garnered worldwide attention because it seemed to offer the possibility that a region with no prior industrial history could make a direct leap to a leading-edge industrial economy, given the right set of elements, without the time and effort required to pass through any intermediate stages of development. “ Helga Tawil, “Silicon Valley's Table of Elements” , Dec. 2000
    •  “The idea that so much growth could occur in so short a time within such a small geographic area has sent planning bodies and government agencies from Albuquerque to Zimbabwe scramming to grow the next Silicon Valley in their backyards (Miller and Cote 1985). “ Helga Tawil, “Silicon Valley's Table of Elements” , Dec. 2000
    •  “The model of Silicon Valley has become the Holy Grail of economic development.”  “Nowadays, virtually every government in the world seems to want to create its own Silicon Valley. “ Helga Tawil, “Silicon Valley's Table of Elements” , Dec. 2000
    •  One article mentions that “at the last count, no fewer than 72 places had billed themselves as the “next” silicon Valley  The U.S. alone is home to Silicon Desert (Utah), Silicon Alley (New York), Silicon Hills (Austin) and Silicon Forest (title fought over between Seattle and Portland), among many others.  Taiwan, Israel, India and Britain all boast respectable imitations.  Some of the more unlikely aspirants include: ▪ France's Cote d'Azur (“Europe's California”), ▪ Egypt's Pyramid Technology Park, and ▪ Malaysia's “Multimedia Super Corridor,” a 478 square mile area and $40 billion set aside by the Prime Minister for his own version of Silicon Valley, that will include an IT city of 100,000 people. (Mickelthwait 1997). Helga Tawil, “Silicon Valley's Table of Elements” , Dec. 2000
    •  Silicon Valley of Europe?  “Will it be "in Romania, Sweden, Holland, Ireland, France?". When I asked which region was most likely to emerge as Europe’s Silicon Valley, the answers were all over the map: London, Munich, Berlin, Zurich, Geneva, even Barcelona. …” http://kookyplan.pbworks.com/Silicon-Valley-of-Europe
    •  The cluster effect is similar to (but not the same as) the network effect.  A business cluster is a geographic concentration of interconnected businesses, suppliers, and associated institutions in a particular field.  Clusters are considered to increase the productivity with which companies can compete, nationally and globally.
    •  Governments and companies often try to use the cluster effect to promote a particular place as good for a certain type of business.  For example, the city of Bangalore, India has utilized the cluster effect in order to convince a number of high-tech companies to setup shop there.  Similarly, Las Vegas has benefited through the cluster effect of the gambling industry.
    •  The Silicon valley, in California in the field of computer technology  The Napa Valley wine-producing region in California  Paris, in France, for Haute couture  U.S. movie production in Hollywood  London's financial sector, known as "the City of London" or just as "the City“  Can you think of any others???…. http://en.wikipedia.org/wiki/Business_cluster
    • This guy clearly was thinking about “clusters” http://www.scribd.com/word/view/24617
    • http://www.scribd.com/word/view/24617
    • Trying to re- create Silicon Valley’s success in Recife???!?! http://www.scribd.com/word/view/24617
    •  Additional (optional) readings for FBV class Global Entreprenership:
    •  INTRODUCTION  It started 40 years ago with the Traitorous Eight, a handful of disgruntled engineers. Here's what happened...  HOW IT REALLY WORKS  "What matters is how smart you are." The fuel behind Silicon Valley's growth is brainpower  MOVERS AND SHAKERS  We all know the kings, but who are the kingmakers?
    •  BEYOND THE VALLEY  Many regions have tried to recreate the magic, but none has succeeded.  Applying the lessons of Silicon Valley to companies of all stripes  THE NEXT GENERATION  Who'll replace Steve, Larry, and Andy?  Here's a look at 16 potential leaders of Silicon Valley's Next Generation.
    •  Silicon Wannabes  TAIWAN'S NEW GRAIL: INNOVATION  AMID THE RUBBER TREES, A MULTIMEDIA SUPER CORRIDOR?  SCREEN: Prime Minister of Malaysia's Web Site  CAMBRIDGE: THE HALLOWED HALLS OF HOMEGROWN TECH  AUSTIN: A THRIVING CLONE OF THE VALLEY  TABLE: Austin's Top Entrepreneurs  TABLE: Austin's Top Tech Companies  BOSTON'S ROUTE 128: COMPLEMENTING SILICON VALLEY  NEW YORK'S SILICON ALLEY: A STEEP ROAD AHEAD
    •  Additional (optional) readings for FBV class Global Entreprenership:
    • http://paulgraham.com/siliconvalley.html
    •  At least one question on the exam will come from this article http://paulgraham.com/siliconvalley.html
    • overview
    • Social Media for global entrepreneurs  Using Social Media to create global presence (twitter, facebook, etc)  “Flat-world” strategies for competing globally
    •  To get ready for class presentation on how global entrepreneurs can use social media to attract global clients:  All students must signup for  Twitter, facebook, linkedin  Be prepared for discussion about “social media” and entrepreneurship  Extra credit +1 point for class participation: available to student that finds & connects with me on the most number of locations  Due: Tursday, May 1st (before easter)
    •  Question: who has signed up?  Who got the most? (extra credit for most)  What benefits do you think cold be found in social networks for entrepreneurs?  Discuss….
    •  Why lecture on “social networks” in a class on global entrepreneurship?  Why? To…  Project SIZE (small appears large)  World is flat – talk to anyone, anywhere  But… how do you use social networks for this?  Class discuss…
    •  Social networks are about communication.  Creating communication, creating community  The goal is to create community AROUND your company / idea / brand / startup  Why?
    •  Why?  Repeat customers: Website visitors visit one time, and leave. A community stays around, talks, comes back.  Viral loop – more people talking, referring, talking more, referring more…. Etc  Give you a chance to LISTEN!! -- feedback, find problems before by listening to your community, and responding.  Google ranking. Based on links + social activity
    •  Do you remember our class discussion on the “3R’s” of entrepreneurship?
    •  R - risk  R- relationships  R – reputation  This lecture:  Using social media –to build network, project Reputation (3 R’s) Reputation  Tools: ▪ – linkedin – facebook – twitter – google – orkut, etc…
    •  Reputation ▪ Not just among your friends & family… ▪ But, how is your reputation online? ▪ If a future employer were to GOOGLE your name, what would he / she find? ▪ Note: everyone in today's world has TONS of photos online they would rather employers not see (remember that spring- break vacation? Once content is online, its there forever!) ▪ The goal is not to remove all traces of your past from online, but to make sure that there is enough professional material that will come FIRST. ▪ So if an employer/ partner / business associate… if they were to google your name… what would they find? Are you giving off the right image? Are you MANAGING THAT IMAGE?
    •  Reputation ▪ Investors invest in competent entrepreneurs ▪ Business partners join reputable leaders ▪ Employees risk working for an entrepreneurs if they believe in them ▪ Reputation is essential ▪ Embrace risk, don’t fear failure, but manage your reputation (online especially!!) ▪ Build with online tools ▪ LinkedIn ▪ Blogs, networks ▪ In a future class (coming soon) we will look at social media (online tools) that you can use to manage your online REPUTATION
    •  Relationships ▪ With clients, bosses, teachers, alumni, networks ▪ Entrepreneurs must be the PR department, the marketing department, the sales department ▪ You are the face of the company (so keep smiling) ▪ Build your network of influential people, and ASK THEM TO HELP YOU!! ▪ Maintain with online tools
    • ▪ Suggestion: actively try to take risk everyday (get into habit) + work to build your reputation + relationships
    • http://www.slideshare.net/alex_dc
    • http://www.slideshare.net/alex_dc
    • http://www.slideshare.net/alex_dc
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    • http://www.slideshare.net/alex_dc
    • overview
    •  Twitter:  100 million+ users, with 50 million tweets sent each day.  Facebook :  nearing 500 million users. The average user has 130 friends, spends 55 minutes a day on the site and receives three "event invitations" to real-life gatherings every month (in December 2009, the company stated that 3.5 million events were created every month).  Next? According to The New York Times, Facebook will soon incorporate 'location' in two ways: its own features for sharing location  LinkedIn :  over 65 million members. A new member joins LinkedIn approximately every second. http://www.trendwatching.com/briefing/
    •  Nearly three quarters (73%) of online teens and an equal number (72%) of young adults* use social network sites. 73% of adult profile owners use Facebook, 48% have a profile on MySpace and 14% use LinkedIn. (Source: Pew, Feb 2010.) http://www.trendwatching.com/briefing/
    • What are you waiting for?!?!!?
    •  (Reuters) - Social media company Twitter is struggling to craft a profitable business model, but the Web-based service has helped Dell Inc chalk up millions of dollars in sales.  Dell said on Thursday it has raked in more than $3 million from Twitter followers who clicked through its posts to its Web sites to make purchases. The company, which has posted to Twitter about two years and tracks the sales with proprietary software, made more than $1 million in the past 6 months. Reuters.com, “Twitter helps Dell rake in sales”, Fri Jun 12, 2009
    •  Dell said it posts 6 to 10 times a week to its DellOutlet account, which is where the majority of Twitter-based sales have come from. Stephanie Nelson, who manages the account, said almost every post includes a coupon or a link to a sale, and about half of the posts are Twitter-exclusive deals.  The PC maker, which has about 600,000 followers, is one of the Top 100 most-followed accounts on Twitter, according to private trackers TwitterCounter and Twitterholic.  Other non-media companies ranked in the Top 100 include Whole Foods Market Inc, Woot.com, Zappos.com, JetBlue Airways Corp. Reuters.com, “Twitter helps Dell rake in sales”, Fri Jun 12, 2009
    • Different ways to communicate… Examples…  Simple: Post and broadcast 1 to many  @forumnexus – to send message to staff  #forumnexus – to talk to group ▪ Other name for this trip?
    •  Twitter had approximately 17 million unique U.S.-based visitors in April, and about 24 million worldwide, according to Nielsen. Its number of users has grown by more than a thousand percent over the last year. Reuters.com, “Twitter helps Dell rake in sales”, Fri Jun 12, 2009
    •  Check out this fun video: "United Breaks Guitars", and if you are taking our "International Marketing" class, think about how much $ a company like United would need to pay in traditional advertising to compensate for the reputational-damage caused by one angry (and very talented) customer. (note: this song went to #1 in Apple iTunes, and has been viewed by millions on YouTube)
    •  Search “intercambio” (study abroad in Portuguese)  “CETUSA is a terrible organization, never do intercambio with them!!)….  I hope they are watching twitter, and know how to respond!!
    • http://www.unionsquareventures.com/2009/06/bring_the_world.html
    • ▪ Question – If I search for you online today… what will I find? (assume Im a future employer, partner, boss, etc)…
    • Google profile! YouTube! slideshare! Twitter! groups
    • http://www.google.com/profiles/briandbutler
    • http://www.roubini.com/author/brian_butler
    • Next Step: connect Twitter to other social sites: facebook, LinkedIn ,etc
    • http://learn.linkedin.com/twitter/
    • http://learn.linkedin.com/twitter/
    • #in
    •  Read the news, search the internet just as you normally would.  Highlight text  Click “share on tumblr” button
    •  A window pops up  Click “advanced” button, and  select “share on twitter”
    • http://forumnexus.tumblr.com/
    • And, select which account to send it from …twitter, facebook or Linkedin
    • And, select which account to send it from …twitter, facebook or Linkedin
    • Why? In the future, they may If you find stuff you like… try re- share yours… the social web in tweeting (sharing someone else’s action!!! post with your readers).
    • Search for “study abroad” and Europe Find kids looking for study abroad in Europe and start a conversation!!!
    • Conversion Tracking Conversion tracking allows you to track activity that happens on your website as a result of someone on Facebook seeing or clicking on your Facebook Ad. In combination with your ad statistics like impressions and clicks, conversion tracking will help you better understand the value of your Facebook ad campaign. You can find more information in our Conversion Tracking Guide
    • Promoting your company / idea
    • Create a YouTube page for your new company
    • Brazil + macro economy
    •  How is Brazil effected by:  Crisis in Europe outlined earlier this semester?  China-America issues outlined in last class?  Why important for global entrepreneurs in Brazil to be aware of this issue?
    • • “currencies either pegged to the dollar or more or less actively managed against it (a group that includes Japan)”  Oil Exporters  Bahrain  Oman  Qatar  Saudi Arabia  UAE (Dubai included)  China  Japan  Russia  Singapore  Taiwan  Malaysia  Hong Kong  Thailand  India  Others: Ecuador, Panama, more…. Used to be Argentina! Sources: figure 6.6 from Wolf “Fixing Global Finance” And, Economist.com, May 23 2009, “Monetary Union in theGulf”
    •  Key point: there is NO “best” system  It all depends on what you want to achieve…  History: Cycle from Fixed to Flexible to Fixed to Flexible……(future?) 1970’s –today: Great Depression era since U.S. left the gold/dollar standard Flexible Flexible ????? Fixed Fixed The gold standard (~1850–1914) Post WWII Fixed exchange rates during the 1920s Bretton Woods / IMF system (1944–1971)
    • • Future… if crisis brought terrible volatility… • Will we move toward era of FIXED FX? ▫ emerging markets DOLLARIZE? ▫ More countries to join the EURO? ▫ US / euro move to fixed? ▫ New Breton Woods? • Or, move toward more flexibility? ▫ “Dollar Bloc” move toward flexibility? ▫ Europe abandon the Euro? ▫ Answer: no body knows what will happen, but HISTORY tells us the CHANGE = the only CONSTANT!!
    • Next time we meet…
    •  Today- last lecture before exam  Exam 30% of your grade!! ▪ Need to decide: ▪ Saturday - June 19th (?) -- OR -- ▪ Thursday – June 17th  One week later – team project due  Saturday June 26th - submit by EMAIL 25% of your grade!!
    •  You MUST return Exam#1 BEFORE taking Exam #2  You will not be allowed to take exam #2 without turning in Exam #1  If you forget it… you will be asked to go home, and return with it!!!! Please don’t forget!!!
    •  Social networks & Entrepreneurs  Entrepreneurship Clusters + Economic Development  International IQ – Brazil – risks / opportunities
    •  Homework / assignments:  I f you missed any homework… you may still submit them!  How? Review slides from previous lectures. Look for homework assignments. If you didn’t do any… DO THEM NOW!!!!  Group Project  Get together and start working today!  Don’t wait till the last second!!
    • Next time we meet…
    • http://paulgraham.com/siliconvalley.html
    •  At least one question on the exam will come from this article http://paulgraham.com/siliconvalley.html
    • Challenge to students: keep learning after the class is done!!!