Teachers play a vital role in society by educating and shaping the minds of students. If you're considering a career as a teacher, here are some key aspects to consider: Passion for Education: Teaching requires a genuine passion for education and a desire to make a positive impact on students' lives. Ask yourself if you enjoy working with young people, if you find joy in helping others learn, and if you have a genuine interest in the subjects you would like to teach. Communication and Interpersonal Skills: Effective teachers possess strong communication and interpersonal skills. They can convey information clearly, engage students in discussions, and build positive relationships with their students, parents, and colleagues. Patience and Adaptability: Teaching can be challenging, so it's important to be patient and adaptable. Students come from diverse backgrounds and have different learning styles and abilities. As a teacher, you need to be patient, understanding, and willing to adapt your teaching methods to meet the needs of individual students. Continuous Learning: Education is a lifelong journey, and teachers are lifelong learners. To be effective, teachers must stay up-to-date with the latest teaching techniques, curriculum changes, and educational trends. Continuing professional development is crucial to provide the best learning experience for students. Impact and Influence: Teaching offers the opportunity to make a lasting impact on students' lives. As a teacher, you have the power to inspire, motivate, and empower students. The ability to shape young minds and help students reach their full potential can be incredibly rewarding. Challenges and Rewards: Teaching can be both challenging and rewarding. It requires dedication, resilience, and the ability to handle various responsibilities such as lesson planning, grading, classroom management, and addressing individual student needs. However, the joy of seeing students grow, learn, and succeed can make it all worthwhile. Professional Support: Look into the support available for teachers, such as mentoring programs, professional development opportunities, and a supportive school community. Having a supportive network can help you thrive and overcome challenges in your teaching career. Remember, teaching is a profession that requires commitment and a genuine interest in nurturing the minds of future generations. It's important to thoroughly research the education requirements and licensing processes in your country or region to ensure you meet the necessary qualifications. Consider shadowing or volunteering in classrooms to gain firsthand experience and a better understanding of the teaching profession before making a final decision.

1. TEACHING AND ENCOURAGING
ENTREPRENEURSHIP AND
INNOVATION
Belarus Universities
DR. KENT MILLINGTON
OCTOBER 2012

2. TOPICS OF DISCUSSION
• Innovation
• Opportunity Recognition
• Managing Innovation
• Technology Commercialization
• Developing New Business
• Business Model canvas

3. Entrepreneurship Risks and Rewards
• Business Failure
• Unpredictable Business Conditions
• Long Hours
• Product/Service compete on Price only
• Imitation strategy
Risks:

4. Entrepreneurship Risks and Rewards
• Financial
• Emotional – building a business
• Pride
• Recognition
• Flexibility
• Creativity
Rewards:

5. ENTREPRENEURSHIP: THE ART
AND SCIENCE OF BUILDING VALUE
ART: CREATIVITY; ENERGY; FEEL;
INSIGHT
SCIENCE: ANALYSIS; DISCIPLINE;
SYSTEMATIC APPROACH

6. Identify a need or opportunity
Create a solution - Innovation
Implement solution to create value
Harvest or other long-term strategy
ENTREPRENEURSHIP

7. Two Kinds of Entrepreneurship
1. Opportunity – based
2. Necessity – based
Young people 25-34 are dominant
participants in entrepreneurship.

8. Two Important Considerations for
Entrepreneurs
• INNOVATION / CREATIVITY
• OPPORTUNITY IDENTIFICATION

9. Continuum of Innovation
Imitative Incremental Evolutionary Radical Revolutionary
The secret to innovation is uncovering an unmet consumer
need and the filling it in an innovative, creative way.

10. Continuum of Innovation
Imitative: copies something well-known and accepted
Incremental: small improvements; faster, better,
cheaper
Evolutionary: new to firm but not to world (i.e.,
technologies in new places)
Radical: technologies that give large performance
improvements or lower costs
Revolutionary: new to individual, firm, and the world
Best Opportunities between Incremental and Radical

11. Latest science and technology
Needs in society and the marketplace
Creativity
• Production of novel
and useful ideas
• Discovery of
opportunities
• Output: new ideas
Innovation
• Refining, evaluation
and first prototypes
of the new ideas
• Evaluation of
opportunities
• Output: prototype
Entrepreneurship
• Creation of value
in the marketplace
• Exploitation of
opportunities
• Output: new product,
service, or process
The Creativity-Innovation-Entrepreneurship Chain

12. Types of Innovation
1. Product: early stage of product life cycle,
innovations are frequent. As rate of product
innovation decreases, process innovation
increases. (What we make)
2. Process: makes manufacturing more efficient
through automation, lowering costs. (How we
make it)
Product /Service innovation creates much more
new wealth than process innovation!

13. Three Characteristics of Opportunity
Newness
Potential Economic Value
Perceived Desirability
Opportunity implies something that has not existed or
been available before, that can yield potential economic
gains, and whose development is consistent with legal
and/or moral standards of the society in which it occurs.

14. •Alertness
•Social Network Ideas
•Prior Knowledge
-Of markets
-How to service markets
-Customer problems
-Accumulation over time
Example: Focus Media in Shanghai
A Framework

15. Basic Propositions Concerning
Opportunities
Proposition 1: Opportunities emerge from
changes in knowledge, technology, economic,
political, social, and demographic conditions.
Proposition 2: Recognition depends on
previous experience which enables people
to see links between previously unconnected
changes, knowledge, or events.

16. Product Opportunity Gap
Social:
Social and Cultural
trends, Historical
trends
Economic:
State of the Economy, Level of
Disposable Income, Changing
Investment Opportunities
Technology:
Emerging technologies
Re-evaluating existing
technologies
Product
Opportunity Gap

17. Discontinuous opportunities: The source of radical innovation
New
Markets
Existing
Markets
Existing Products/
Technology
New Products/
Technology
Adjacent
Opportunities
Exploit current assets
and capabilities
Status Quo
Grow market
share and profit
(business expansion,
not new business
development)
Adjacent
Opportunities
Increase primary
market demand
Discontinuous
Opportunities
Create new markets
and new products

18. … which create disproportionate wealth relative to adjacent
opportunities
14%
86%
Adjacent
opportunities
Discontinuous
opportunities
38%
62%
61%
39%
Type of new
Business launch Revenues Profits
Source: Chan & Mauborgne (1997)

19. Managing Technology -
Discovery to Application
Scientific
Discovery
Invention
Innovation
Technology
Application

20. Sustaining vs. Disruptive Technologies
Sustaining technologies focus on
improvements of importance to existing
customers. Existing companies best with
incremental innovation.
Disruptive technologies create a new value
proposition, reach new markets and customers.
New companies better at disruptive, radical
innovation.

21. • Competitive Advantage
– Something that the firm does better than any of
its competitors.
– Goal: To have a sustainable competitive
advantage
• Requires that the advantage:
– Must be valued by customers
– Not easily duplicated by competitors
Creating Competitive Advantage

22. Technology and Competitive
Advantage
Technology
Competitive
Dynamics
Competitive
Advantage
Value
Creation

23. Major Strategic Questions
• Should we create our own new
technology and innovations internal
to the firm?
OR
• Should we acquire technology from
external sources like acquisition or
strategic alliances?

24. Dimensions of Internal Innovation
1. Goal of internal innovation is for the firm to
outperform its competition.
2. Internal innovation involves many
individuals, capabilities, and resources.
3. Resources are critical to the innovation
process. (Human, Physical, Financial)

25. Reasons for Using External Innovation:
1. The firm’s product line falling behind competitors.
2. A new competitor enters the market, which will change the
dynamics of the industry.
3. The firm discovers its processes are not as efficient and/or
effective as those of its competitors.
4. The firm believes its current products or processes are not
going to be successful in the future.
5. Expansion into new markets and/or new products is
achieved faster.

26. Technology S - Curve
Time
P
e
r
f
o
r
m
a
n
c
e
P
r
o
d
u
c
t

27. The S-Curve of Technological Progress

28. S – Curve Strategy
1st Technology
2nd Technology
3rd Technology
Time
P
e
r
f
o
r
m
a
n
c
e
P
r
o
d
u
c
t

29. Managing Along the S – Curve
1st Technology
2nd Technology
3rd Technology
Time
P
e
r
f
o
r
m
a
n
c
e
P
r
o
d
u
c
t
Managing
Growth
Managing
Transitions

30. Management Implications
•Technology shifts before investment recovery
•Management focus often fragmented
•Engineering strength often misused
• Marketing becomes a problem introducing
new technology over the old one
•Difficult to manage the ROI in important
technology.

31. The Process of Technology Commercialization
Commercializing New Technologies, Vijay K. Jolly, Harvard Business School Press, 1997, p. 4

32. Imagining Incubating Demonstrating Promoting Sustaining
Creating unique
product ideas
Proving product
viability
Build
prototypes
Build products &
introduce to
markets
Build markets
& improve
products
Find interested
people & money
Find resources to
build prototypes &
identify markets
Build initial
markets &
plan market
expansions
Develop
market growth
strategies
Product
planning
steps
Business
planning
steps
Technology Commercialization Process
Resource Needs
People Small Moderate Medium Large
Physical None Moderate Medium Large
Financial None Moderate Large Largest

33. Technology Assessment
1. Understand Technology
2. Discover Possible Uses of Technology
3. Understand Markets for Uses
4. Determine How to Deliver Value

34. How Companies Develop
1.Small Business Entrepreneurship – 95%+ of business
2.Scalable Startup Entrepreneurship – receive most
investment
3.Large Company Entrepreneurship – innovation as
variants of existing core products; disruptive innovation
difficult.
4.Social Entrepreneurship - innovation to solve social
needs

36. Search for
Business Model
Execution of
Business Model

37. Build a Customer Development Process
Concept/
Bus. Plan
Product
Dev.
Alpha/Beta
Test
Launch/1st
Ship
Product Development
Customer Development
? ? ? ?

38. Customer Discovery: Step 1
Customer
Discovery
Customer
Validation
Customer
Creation
Company
Building
• Stop selling, start listening
– There are no facts inside your building, so get outside
• Test your hypotheses
– Two are fundamental: problem and product concept

39. Customer Validation: Step 2
Customer
Discovery
Customer
Validation
Customer
Creation
Company
Building
• Develop a repeatable and scalable sales
process
• Only earlyvangelists are crazy enough to buy

40. “Pivoting” is changing a fundamental part of the
business model. It can be simple: recognizing that your
product was priced incorrectly. It can be more complex:
your target customer needs to change, the feature set
is wrong, you chose the wrong sales channel or your
customer acquisition programs are ineffective.

41. – Goal is to create end-user demand and drive that
demand into the sales channel.
– Marketing message will be different based on the
kind of market being entered and the customers
being sought
– Brand building and heavy advertising work in
existing markets but not so much in new markets.
Customer Discovery: Step 3
Customer
Discovery
Customer
Validation
Company
Building
Customer
Creation

42. – Where the company transitions from informal,
learning, and discovery to formal departments of
Sales, Marketing, Business Development
– Build departments to exploit early market
success
– Add employees to meet demand for products
Customer Discovery: Step 4
Customer
Discovery
Customer
Validation
Company
Building
Customer
Creation

43. Nine Blocks of the Business Model
1. Customer Segments
2. Customer relationships
3. Value propositions
4. Channels
5. Key Resources
6. Key Activities
7. Key Partners
8. Revenue streams
9. Cost Structure
Business Model Generation, Alexander Osterwalder & Yves Pigneur,
2010

44. Business Model Canvas
Key
Partners Key
Activities
Key
Resources
Value
Proposition Customer
Relations
Customer
Segments
Channels
Cost Structure Revenue Streams

45. Customer Segments
Mass Market: focus on one large group; i.e., consumer
electronics
Niche Market: specific segments; i.e., supplier-buyer
relationships like auto parts manufacturers
Segmented: different needs and problems; i.e., banks and
professional services (engineering, consultants)
Diversified: unrelated segments; i.e., Amazon selling products
and providing computer services
Multi-sided platforms: credit card companies; i.e., card
holders and merchants

46. Value Proposition: Five Key Values
• Product: Performance, quality, features, brand, easy to use,
safe.
• Price: Fair, visible, consistent, reasonable.
• Access: Convenient location, found in reasonable time.
• Service: Ordering, delivery, return, check-out.
• Experience: Emotional, respect, ambiance, fun, intimacy.
• One value selected to dominate value proposition, a second
to differentiate, and remaining three meet the industry norm.

47. Channels
Communication: marketing message, raising
awareness, customer evaluation
Distribution: delivering value proposition
Sales: places to purchase product or services
Finding the right mix of channels is crucial to bringing a value
proposition to market.

48. Channel
Types
Own Partner
Direct Indirect
Sales
Force
Web
Sales
Own
Stores
Partner
Stores
Wholesale
1. Awareness: How to raise awareness of products?
2. Evaluation: How do customers evaluate products?
3. Purchase: How and where do customers buy?
4. Delivery: How do we deliver value proposition?
5. After Sales: How provide post-purchase support?
Channel Phases

49. Customer Relationships
Motivations: Customer acquisition, customer
retention, Boosting sales (upselling)
Personal Assistance
Dedicated Personal Assistance
Self-service
Automated service
User communities
Co-creation of innovative products

50. Key Resources
Physical: facilities, buildings, equipment
Human: especially for creative industries
Financial: sources of funding
Intellectual: patents, copyrights, partnerships,
customer databases

51. Key Activities
Production: designing, making, delivering
Problem solving: consulting, services,
hospitals
Platform/network: software, networks,
social media, brands, platform promotion

52. Key Partnerships
Strategic alliances between non-competitors and
financial sources
Strategic partnerships with competitors
Joint Ventures
Buyer-supplier relationships to assure reliable
supplies

53. Revenue Streams
One-time customer purchases
Recurring revenues
Asset sales, Usage fee, Subscription fees,
Lending/Renting/Leasing, Licensing
Pricing considerations

54. Cost Structure
Cost-driven model: minimize costs, low
prices, maximum automation, extensive
outsourcing, process innovation
Value-driven model: value creation, premium
values, personalized service, product
innovation
Economies of scale Economies of scope
Fixed costs Variable costs

55. Business Model Canvas
Key
Partners
Key
Activities
Key
Resources
Value
Proposition
Customer
Relations
Customer
Segments
Channels
Cost Structure Revenue Streams

56. Business Model Canvas – SWOT Analysis
KP KA
KR
VP CR CS
C
C$ R$
Strengths
Opportunities
Weaknesses
Threats
I
n
t
e
r
n
a
l
E
x
t
e
r
n
a
l
Helpful Harmful

57. Business Model Canvas – Value Innovation
KP KA
KR
VP CR CS
C
C$ R$
- Costs + Value

58. Business Model Canvas – Value Innovation
KP KA
KR
VP CR CS
C
C$ R$
- Costs + Value
Eliminate
Reduce
Raise
Create
Cost Side Value Side

59. Apple iPod/iTunes Business Model
What about your Company????

60. Business Model Canvas for Apple iTunes
KP KA
KR
VP CR CS
C
C$ R$
Record
Companies
OEMs
Hardware
Design
Marketing
People
Brand Name
iPod hardware
iTunes software
Seamless
Music
Experience
Lovemark
Switching
Costs
Mass
market
Retail stores
Apple stores
Apple.com
People Manufacturing
Marketing and sales
iTunes stores
Large hardware revenues
Some music revenues

61. ENCOURAGING ENTREPRENEURSHIP
• Show how to take part in the world
• Meet and know older entrepreneurs
• Access to technologies and capital
• Tax benefits and other incentives
• Entrepreneurship education

62. Дзякуй
J. Kent Millington
milliken@uvu.edu