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BMoE4: Mindset and Culture


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Entrepreneurship Mindset, Behaviors, and Culture

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BMoE4: Mindset and Culture

  1. 1. BERKELEY METHOD OF ENTREPRENEURSHIP BOOTCAMP MINDSET CONCEPTS IKHLAQ SIDHU Founding Faculty Director Sutardja Center for Entrepreneurship & Technology IEOR Emerging Area Professor Department of Industrial Engineering & Operations Research UC Berkeley
  3. 3. Entrepreneurship Misconception It can not be taught prescriptively like other subjects.
  4. 4. And, we can not simply “Test for Retention”
  6. 6. Two Cities in USA CHICAGO SAN DIEGO
  7. 7. Mindset & Behaviors A holistic, journey-based approach to entrepreneurship and innovation Frameworks Opportunity MVP Raising Funds Business Models Networks Facilities Services Mentors Rules of Engagement Diversity = Value When to be “Perfect” Belief & Ethics Information Sharing in Terms Trusting Others Resilience to Failures Pay it Forward Measuring Risk Fair Negotiation Communication
  9. 9. Concept: Mindset & E-Culture What drives entrepreneurs and innovators? KINGDOM NEW TERRITORY
  11. 11. Fixed mindset is a belief that your intelligence is fixed. It is your identity (i.e. I am naturally smart or good at X). This mindset amplifies a fear of losing your identifying lable. As in “What will people say if I can’t do this? An Example Mindset: Fixed vs Growth Mindset
  12. 12. Our model has adapted: Business training is not the only key element • Fixed Mindset Behaviours Stay within comfort zone. Don’t take any chances. Don’t experiment or learn. Your brain is actually switched “off”. Take failures too hard. • Growth Mindset Behaviours Always learning. Wide comfort zone. Open to experiments and some risk. Embrace challenges. Can learn from failures. Fixed and Growth Mindset K - 12 Learning Over a Year Growth Fixed
  13. 13. Psychology: There are many positive mindsets and good behaviors that encourage innovation Broad vs Narrow Thinking Fixed vs Growth Scarcity vs Abundance Seeking Truth vs Being Right Healing Teams vs Dividing People Rebellion vs Compliance Saying what no one else wants to say Accretive Collaboration Adversity is advantage Listening, not just hearing Expanding comfort zone Not hoarding information Comfort with “no” Self awareness Diversity is value Generating trust
  14. 14. BMoE: 10 Behaviours of Entrepreneurs and Innovators
  15. 15. Our model has adapted: Business training is not the only key element • Wide comfort zone • Generate trust • Good connectors • Inductive learning: experiments and reflection • Self awareness and emotional intelligence What are the behaviors and mindsets? Skill in a Core Area Innovation Behaviors and Mindset “Psychology of Innovation” High Potential Too Narrow Street smart, but lacking depth Taught in situation, during the journey
  16. 16. A Question to Psychology Department Collaborators: Which of the BMoE Behaviours can be measured in Psychology?
  17. 17. ETH - Zurich ELPP - Silicon Valley Low comfort with uncertainty High comfort with uncertainty
  18. 18. Your Results
  19. 19. Total Score Fall 2017 BMoE Prior to Monday Mean 6.97, st dev 0.92 BMoE on Thursday Mean 8.06, st. dev 1.10
  20. 20. Total Score Fall 2017 Prior to BMoE After BMoE
  21. 21. Before: mean 5.05 After: mean 6.91 Low comfort with uncertainty High comfort with uncertainty Fall 2017. BMoE Bootcamp
  22. 22. BERKELEY METHOD OF ENTREPRENEURSHIP Inductive Learning Journey Based Mindset and Behaviours Frameworks and Cases Networks and Connections
  23. 23. END OF SECTION