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Luca Berchicci_Entrepreneurship Innovation & Industrial Design Luca Berchicci_Entrepreneurship Innovation & Industrial Design Presentation Transcript

  • course/learning collection G. SUSTAINABLE ENTREPRENEURSHIP & SYSTEM INNOVATION subject G1. Sustainable Entrepreneurship learning resource Entrepreneurship Innovation & Industrial Design contributors: Luca Berchicci Erasmus University / Rotterdam School of Management / The Netherlands LeNS, the Learning Network on Sustainability: Asian-European multi-polar network for curricula development on Design for Sustainability focused on product service system innovation. Funded by the Asia-Link Programme, EuroAid, European Commission.
  • Schedule
    • What are and how are they related?
      • Industrial design
      • Entrepreneurship
      • Sustainable Entrepreneurship
  • Made by a Syracuse University student in 2002
  • Some elements of ID
    • Defining problems
    • Proposing functional and aesthetic solutions
    • Executing design solutions
  • Who is an industrial designer?
    • between an engineer and an artist
    • they improve connections between
      • function and form
      • product and user
    • they partner with engineers and marketers to identify and fulfill needs
  • What is entrepreneurship?
    • The process through which opportunities are discovered, exploited and commercialized
  • What do Entrepreneurs do?
    • They see an opportunity
      • He / She recognizes a customer’s pain
  • What do Entrepreneurs do?
    • They have a vision
      • He / She wants to provide customers with something different and better
  • What do Entrepreneurs do?
    • They are obsessed with the opportunity and pursue it without regard to the resources they currently control
      • Resources are instrumental
      • Innovation is instrumental
      • Products are instrumental
      • Customers are instrumental
      • and employees, yes the are…
  • What do Entrepreneurs do?
    • They exploit the opportunity…
      • often by starting a new company
      • within an existing company
    • … not alone!
      • often with a multifunctional team/network
  • What do Entrepreneurs do?
    • Problem is Opportunity
    • No problem, no opportunity, no business
  • Who is THE Entrepreneur?
    • Founder
    • Owner
    • Managing director
    • Those who take the initiative
    • Those who innovate
  • When does entrepreneurial innovation fail?
    • No value proposition to customer
    • No value proposition to entrepreneur / company
    • Too ambitious
    • Poor preparation
    • Poor execution
    • Bad timing
    • Legal obstacles
  • What drives entrepreneurship?
    • Is one born as an entrepreneur?
      • traits, experience, conditions
    • Can it be triggered?
      • role models, heroes, experiential learning
    • Can it be frustrated?
      • ambitions, budgeting, targets
  • Converging: ID ≈ Entrepreneur?
    • from problem to an opportunity
    • improving existing products/services with new/better products/services
    • obsession / determination
    • eureka!
    • team effort
  • Entrepreneur… One step more…
    • just do it!
    • a good strategy without execution is worthless
    • daring, dreaming, doing
    • failing & perseverating
    • multitasking
    • resources? No problema, amigo
  • Senz Umbrellas BV, Delft
  • Opportunities
    • Where opportunities come from?
      • Ability to indentify them: personal motivation/ experience
      • Ability to generate them: macro changes
    • Environmental/sustainable opportunities
      • The role of market failure
      • When are markets not efficient?
  • Market
    • the market is quasi perfect
      • if there is an unmet need in the market someone will figure it out (the entrepreneur!)
    • customer is willing to pay the cost of new product = cost of production + profit
    • the big question is: do producers pay the full cost of the product production?
      • NO!! the market fails to take into account of the cost of productions!!
  • Understanding market failure
    • Private costs: cost incurred by the private firm in producing a given good
      • for a steel producer: production costs
    • Social costs: costs incurred by society at large but not by the producer (include private costs)
      • the additional social costs not incurred by the steel producer include, for example, such consequences as health and environmental effects of the factory’s smoke or of the scrap.
  • Understanding market failure
    • when social costs ≠ private costs then no (socially) optimal allocations of resources, no market perfection!
      • if a steel producer does not incur the full costs of production (e.g., the health damage from pollution), then the producer is unlikely to consider these costs in its production function and will produce too great a quantity of both the factory’s product and its smoke.
  • Market failure and entrepreneurship
    • Market failure creates environmental degradation
    • But market failure implies opportunities for entrepreneurial action
      • firm’s (in-) efficiency
      • externalities
  • Sustainable entrepreneurship
    • The process of discovering, evaluating, and exploiting economic opportunities that are present in environmentally and socially relevant market failures.
    • Environmental entrepreneurs enhance ecological sustainability by ameliorating environmentally relevant market failures
  • Sustainable entrepreneurs
    • Discover opportunities from market failures
    • Has in mind two types of customer’s pain
      • Nature’s pain
        • sustainable
      • Regular customer’s pain
        • sustainable & better solution
      • Environmental concerned customer’s pain?
        • sustainable
        • very small niche
        • they often do not walk the talk
  • Sustainable entrepreneurs
    • Opportunities from market failure
      • what is generally considered WASTE (valueless) for many is great opportunity (value creation) for sustainable entrepreneurs
  • What is a Business model?
    • It is a framework explaining how to create value though the business venture
    • “ It depicts the content, structure and governance of transactions designed so as to create value through the exploration of business opportunities”
  • What is a Business model?
    • What do you offer? Value proposition
      • why and how your product/service create value for a specific customer segment
      • Why and how you do better and different from your competitors
    • What do you need to execute?
      • You: Team, competences & capabilities
      • Partners: they complement some aspects of you business
    • Value configuration? Cost structure & revenue
      • Is the business beneficial for your venture and your customer
  • What is a Business plan?
    • It is a formal statement of how you are going to execute your business model
    • Elements:
      • Product idea
      • Management team
      • Industry analysis
      • Market analysis
      • Business system and organization (value chain)
      • Schedule
      • Risks
      • Resources
      • Financing
  • RSM students: What are they doing?
    • 2 courses:
      • New Business Development
        • 8 teams of about 3
      • New Venture Planning
        • 14 teams of about 3