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Risk and Entrepreneurship
in aTime of Uncertainty
Joyce L. Ogburn
University Librarian
Director, J.Willard Marriott Library
University of Utah
June 3, 2009
1
Themes
• Innovation and Entrepreneurship
• Risk Management
• The Library Environment
• Focus on Knowledge
• Opportunities
• Leading the Way
• Examples and Strategies
2
Swimming in a sea of risk
3
Entrepreneurs
4
• Find partners
• Build teams
• Hard work, passions, persistence
• No guarantees of success
Entrepreneurs and Innovation
• Peter Drucker:
• “What all successful entrepreneurs I have met have in
common is not a certain kind of personality but a
commitment to the systematic practice of innovation.”
• Innovation is “the effort to create purposeful, focused
change in an enterprise’s economic or social potential.”
• Innovation is simple and focused
• Entrepreneurs are opportunity focused
5
Risk Management
• Think of risk management rather than risk
taking
• Financial investment strategies
• Inflation, time and risk
• Conservative and aggressive strategies
• Planning diversifying, rebalancing, reserves
• Don’t panic
6
• Risk mitigation strategies
• Determine what’s at risk
• Policies
• Find partners
• Seek resources and assistance
• Size and risk
• Leverage our investments to help each other
• Understand what you are doing
7
Library Environment
• Support for entrepreneurs
• Resisting order and completeness
• Managing for exceptions
• Dealing with ambiguity and authority
• Fear of failure
• Fear of success
• Never stop anything
8
Organizational work
ExperimentationAdaptation
Assimilation Evaluation
Where we spend most
of our resources
9
Knowledge Management
• Differs from business
• Open and collaborative
• Bifurcates:
• Institutional business data
• Mission-based scholarly assets
10
Knowledge & Information Arts & Sciences
11
Knowledge Technology
• Interoperable
• Contextual
• Semantic
• Interpretive
• Integrative
• Evaluative
• Synthetic
• Extractive
• Analytical
• Interdisciplinary
12
Open, shared, dynamic knowledge systems
13
E-science and data curation
• Intersections of
knowledge
management, scholarly
communication and
cyberinfrastructure
• Growing aspect of
scholarship, literacy and
decision-making
• Collaboration of IT,
Office of Research and
Library
14
Other opportunities
• Open Movement
• Social Networks - services and research
• Teaching new literacies and the digitally
challenged
• The advantage of location and relationships
• The challenge of tradition and competition
15
New skills and contributions
• Data mining for trends, meta-analysis, and textual and
numerical studies
• Adding content, layers of service, and contextual information
• Running multimedia and visualization labs, recording studios,
text conversion and mining operations, publishing and editing
arms, metadata services, repository audits, digital formatting
and curation centers, and copyright offices
• Building a complex, interwoven, open system of data,
software, and ideas presented in text, images, charts,
spreadsheets, and more
16
Leadership
• Build a supportive environment
• Instill principles and values
• Provide resources, rewards, incentives
• Use data but take a leap of faith
• Celebrate
17
Leadership at the U
• Technology (cyberinfrastructure, digitization, hosting,
capturing, streaming, teaching, multimedia, podcasting)
• Special Collections (oral histories, science and technology
archives, media, rare books, design and printing)
• Literacy (visual, information, technology, book arts,
scholarly communication)
• Publishing (U of U press, Bonneville Books, Red Butte
Press,Tanner Trust Series)
• Preservation (conservation, workshops, disaster planning
and recovery)
• Teaching, lectures, and outreach (on campus, in the
community, K-12, iTunes U)
• Sustainability and green initiatives
18
Approaches at the U
• Find Solutions (knowledge management, digital
scholarship, open source software)
• Pursue collaborations (Internal: OIT, CHPC,
Office of Research,American West Center,
Writing Center, Graduate School,
Interdisciplinary Studies, Undergraduate
Studies, Hinckley Institute of Politics. External:
GWLA, UALC, local business, donors)
• Get grants (IMLS, NEH, LSTA, Mellon)
19
Faculty response to our Innovative Directions
Ellen Bromberg-Modern Dance
20
Exciting place of
research, technology
and creation.
Exited about the
future. Up to our own
imaginations as to what
we can make that be.
Library is at the table
with you to help
envision what is
possible.
Innovation and Program
Enrichment Grants
• Mobile Computing
• Digital Stotytelling
• GIS
• Multimodal learning
• Television archives and media
• OA undergraduate research journal
21
Marriott Library & CHPC
New Learning Environments
Second Life
Interplay: AnARTomy
22
BusinessVentures and Partnerships
e-commerce
23
On Demand Books The Espresso Book Machine 2.0®
OVERVIEW
OPERATION
The Espresso Book Machine® (“EBM”), a Time Magazine “Best Invention
of 2007,” provides a revolutionary direct-to-consumer distribution and
print model for books. Described as “the ATM of books,” the EBM Version 2.0 is a fully
integrated patented book-making machine that can automatically print, bind, and trim on
demand at point of sale perfect-bound library-quality paperback books with 4-color covers
(indistinguishable from a book on a bookstore shelf) in minutes for a production cost of a
penny a page. The EBM’s software automatically tracks all jobs and remits all royalty
payments. The EBM makes it possible to distribute virtually every book ever
published, in any language, anywhere on earth, as easily, quickly, and cheaply as e-mail.
Designed to operate in a variety of environments, the EBM requires
minimal human intervention and only occasional maintenance, such as
refilling paper trays, replacing toner cartridges, emptying the trim-paper receptacle, and
clearing paper jams. An onboard computer controls the EBM’s operation and provides a
simple user interface for controlling print jobs and managing content.
The EBM includes custom software that connects it to a virtual network
EBM LOCATIONS:
The Library of Alexandria,
Alexandria, Egypt
The World Bank InfoShop,
Washington, DC
(exhibition, 2007)
The New York Public Library,
New York, NY
(exhibition, 2007)
The New Orleans Public
Library, New Orleans,
Louisiana
The University of Michigan
Library, Ann Arbor, Michigan
The University of Alberta
Bookstore, Edmonton,
Canada
McMaster University
Bookstore, Hamilton, Canada
The University of Waterloo
Bookstore, Waterloo, Canada
Northshire Bookstore,
Manchester Center, Vermont
Angus & Robertson,
Melbourne, Australia
NewsStand UK,
London, UK
Open Content Alliance,
San Francisco, California
McGill University Library,
Montreal, Canada
(coming spring 2009)
POD2:
Print on Demand / Purchase on Demand
24
Utah Digital Newspapers
digitalnewspapers.org
25
Western Soundscape Archive
http://westernsoundscape.org/videoFull.html
26
Release innovation into the wild
• U-SKIS
• Clip-Imp
• x-EAD
• ERM
27
Advanced Technology Studio
• Teach faculty to use technology
• Advanced digital scholarship
• Data management starting point
• Co-located with TACC
• Possible new Stats Center
• Audio and video recording studios
• Usability lab
28
Strategies
• Fast track decisions
• Be ready for opportunities
• Reinvent and reinvigorate
• Experiment, shift, adapt
• Assume more risk but manage it
• Partner with others
• Plan in shorter time frames
29
Validation by the faculty
30
Ellen Bromberg
Modern Dance
Incredible transformation of
how we think of libraries.
A powerful statement about
what a library can do for a
university.
Not just housing existing
knowledge, but to help
generate new knowledge is a
paradigm shift about what a
library is.
Key Points
• Risk is unavoidable
• Entrepreneurs make and exploit opportunities
• Innovation can occur in small focused steps
• Libraries are not about information but knowledge
• Spend resources to create transformative work
• Good ideas and innovations should be shared
• There is no way to make a perfect decision
• Don’t protect the institution of the past, propel to the
future
• There is no such thing as a killer app or a magic bullet
31
32
Nothing breeds success like failure.
Leaders, innovators, and
entrepreneurs fail all the time.
Jump in - the water’s fine.

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Risk and Entrepreneurship in a Time of Uncertainty

  • 1. Risk and Entrepreneurship in aTime of Uncertainty Joyce L. Ogburn University Librarian Director, J.Willard Marriott Library University of Utah June 3, 2009 1
  • 2. Themes • Innovation and Entrepreneurship • Risk Management • The Library Environment • Focus on Knowledge • Opportunities • Leading the Way • Examples and Strategies 2
  • 3. Swimming in a sea of risk 3
  • 4. Entrepreneurs 4 • Find partners • Build teams • Hard work, passions, persistence • No guarantees of success
  • 5. Entrepreneurs and Innovation • Peter Drucker: • “What all successful entrepreneurs I have met have in common is not a certain kind of personality but a commitment to the systematic practice of innovation.” • Innovation is “the effort to create purposeful, focused change in an enterprise’s economic or social potential.” • Innovation is simple and focused • Entrepreneurs are opportunity focused 5
  • 6. Risk Management • Think of risk management rather than risk taking • Financial investment strategies • Inflation, time and risk • Conservative and aggressive strategies • Planning diversifying, rebalancing, reserves • Don’t panic 6
  • 7. • Risk mitigation strategies • Determine what’s at risk • Policies • Find partners • Seek resources and assistance • Size and risk • Leverage our investments to help each other • Understand what you are doing 7
  • 8. Library Environment • Support for entrepreneurs • Resisting order and completeness • Managing for exceptions • Dealing with ambiguity and authority • Fear of failure • Fear of success • Never stop anything 8
  • 10. Knowledge Management • Differs from business • Open and collaborative • Bifurcates: • Institutional business data • Mission-based scholarly assets 10
  • 11. Knowledge & Information Arts & Sciences 11
  • 12. Knowledge Technology • Interoperable • Contextual • Semantic • Interpretive • Integrative • Evaluative • Synthetic • Extractive • Analytical • Interdisciplinary 12
  • 13. Open, shared, dynamic knowledge systems 13
  • 14. E-science and data curation • Intersections of knowledge management, scholarly communication and cyberinfrastructure • Growing aspect of scholarship, literacy and decision-making • Collaboration of IT, Office of Research and Library 14
  • 15. Other opportunities • Open Movement • Social Networks - services and research • Teaching new literacies and the digitally challenged • The advantage of location and relationships • The challenge of tradition and competition 15
  • 16. New skills and contributions • Data mining for trends, meta-analysis, and textual and numerical studies • Adding content, layers of service, and contextual information • Running multimedia and visualization labs, recording studios, text conversion and mining operations, publishing and editing arms, metadata services, repository audits, digital formatting and curation centers, and copyright offices • Building a complex, interwoven, open system of data, software, and ideas presented in text, images, charts, spreadsheets, and more 16
  • 17. Leadership • Build a supportive environment • Instill principles and values • Provide resources, rewards, incentives • Use data but take a leap of faith • Celebrate 17
  • 18. Leadership at the U • Technology (cyberinfrastructure, digitization, hosting, capturing, streaming, teaching, multimedia, podcasting) • Special Collections (oral histories, science and technology archives, media, rare books, design and printing) • Literacy (visual, information, technology, book arts, scholarly communication) • Publishing (U of U press, Bonneville Books, Red Butte Press,Tanner Trust Series) • Preservation (conservation, workshops, disaster planning and recovery) • Teaching, lectures, and outreach (on campus, in the community, K-12, iTunes U) • Sustainability and green initiatives 18
  • 19. Approaches at the U • Find Solutions (knowledge management, digital scholarship, open source software) • Pursue collaborations (Internal: OIT, CHPC, Office of Research,American West Center, Writing Center, Graduate School, Interdisciplinary Studies, Undergraduate Studies, Hinckley Institute of Politics. External: GWLA, UALC, local business, donors) • Get grants (IMLS, NEH, LSTA, Mellon) 19
  • 20. Faculty response to our Innovative Directions Ellen Bromberg-Modern Dance 20 Exciting place of research, technology and creation. Exited about the future. Up to our own imaginations as to what we can make that be. Library is at the table with you to help envision what is possible.
  • 21. Innovation and Program Enrichment Grants • Mobile Computing • Digital Stotytelling • GIS • Multimodal learning • Television archives and media • OA undergraduate research journal 21
  • 22. Marriott Library & CHPC New Learning Environments Second Life Interplay: AnARTomy 22
  • 24. On Demand Books The Espresso Book Machine 2.0® OVERVIEW OPERATION The Espresso Book Machine® (“EBM”), a Time Magazine “Best Invention of 2007,” provides a revolutionary direct-to-consumer distribution and print model for books. Described as “the ATM of books,” the EBM Version 2.0 is a fully integrated patented book-making machine that can automatically print, bind, and trim on demand at point of sale perfect-bound library-quality paperback books with 4-color covers (indistinguishable from a book on a bookstore shelf) in minutes for a production cost of a penny a page. The EBM’s software automatically tracks all jobs and remits all royalty payments. The EBM makes it possible to distribute virtually every book ever published, in any language, anywhere on earth, as easily, quickly, and cheaply as e-mail. Designed to operate in a variety of environments, the EBM requires minimal human intervention and only occasional maintenance, such as refilling paper trays, replacing toner cartridges, emptying the trim-paper receptacle, and clearing paper jams. An onboard computer controls the EBM’s operation and provides a simple user interface for controlling print jobs and managing content. The EBM includes custom software that connects it to a virtual network EBM LOCATIONS: The Library of Alexandria, Alexandria, Egypt The World Bank InfoShop, Washington, DC (exhibition, 2007) The New York Public Library, New York, NY (exhibition, 2007) The New Orleans Public Library, New Orleans, Louisiana The University of Michigan Library, Ann Arbor, Michigan The University of Alberta Bookstore, Edmonton, Canada McMaster University Bookstore, Hamilton, Canada The University of Waterloo Bookstore, Waterloo, Canada Northshire Bookstore, Manchester Center, Vermont Angus & Robertson, Melbourne, Australia NewsStand UK, London, UK Open Content Alliance, San Francisco, California McGill University Library, Montreal, Canada (coming spring 2009) POD2: Print on Demand / Purchase on Demand 24
  • 27. Release innovation into the wild • U-SKIS • Clip-Imp • x-EAD • ERM 27
  • 28. Advanced Technology Studio • Teach faculty to use technology • Advanced digital scholarship • Data management starting point • Co-located with TACC • Possible new Stats Center • Audio and video recording studios • Usability lab 28
  • 29. Strategies • Fast track decisions • Be ready for opportunities • Reinvent and reinvigorate • Experiment, shift, adapt • Assume more risk but manage it • Partner with others • Plan in shorter time frames 29
  • 30. Validation by the faculty 30 Ellen Bromberg Modern Dance Incredible transformation of how we think of libraries. A powerful statement about what a library can do for a university. Not just housing existing knowledge, but to help generate new knowledge is a paradigm shift about what a library is.
  • 31. Key Points • Risk is unavoidable • Entrepreneurs make and exploit opportunities • Innovation can occur in small focused steps • Libraries are not about information but knowledge • Spend resources to create transformative work • Good ideas and innovations should be shared • There is no way to make a perfect decision • Don’t protect the institution of the past, propel to the future • There is no such thing as a killer app or a magic bullet 31
  • 32. 32 Nothing breeds success like failure. Leaders, innovators, and entrepreneurs fail all the time. Jump in - the water’s fine.