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1. What entrepreneurial
qualities or
characteristics did
Jobs exhibit?
2. Why was he so
successful? How
much of his success
was just good luck?
Obit Guardian
CASE
insight Steve Jobs & Apple
Entrepreneurial Character
High
internal locus
of control
High
need for
achievement
High
need for
autonomy
2
High
acceptance of
measured risk
& uncertainty
High
creativity,
innovation &
opportunism
Highly enterprising
Julian Thomas GET2 Results
 Focus
 Simplify
 Take responsibility end-to-
end
 When behind, leapfrog
 Put products before profits
 Don’t be a slave to focus
groups
 Bend reality
The Real Leadership Lessons of Steve Jobs, Walter Isaacson, HBR April 2012
CASE
insight Steve Jobs & Apple
 Impute
 Push for perfection
 Tolerate only ‘A’ players
 Engage face-to-face
 Know both the big picture
& the detail
 Combine humanities &
sciences
 Stay hungry, stay foolish
The Real Leadership Lessons of Steve Jobs, Walter Isaacson, HBR April 2012
2 part Isaacson interview
CASE
insight Steve Jobs & Apple
‘Making an enduring
company is both far
harder and more
important than making
a great product’
Steve Jobs, Founder Apple 1955 - 2011
CASE
insight Steve Jobs & Apple
Marking
25%: Critical evaluation of GET2 profile
25%: Supporting evidence
for your evaluation
25%: Analysis of antecedent
influences
15%: Reflection & conclusions
10%: Presentation
(incl. sources & references)
How is Assessment 1 marked?
Business Ideas
Professor Paul Burns
Radically
new market
Radical
product/service
innovation
Existing
market
Incremental
product/service
innovation
Existing
product/service
Incrementally
new market
Disruptive
innovation
Incremental
innovation
Copy-cat
Market
expansion
Market
paradigm
shift
New to the
world
industries
Start-up Typologies
Create uncontested market space by
challenging market conventions:
 Sectoral conventions
 Performance conventions
 Customer conventions
Market paradigm shift
Chaston, 2000
Create Opportunity
Product/market innovation
Incremental Radical
Market Need
Business ideas
Butter Stick
Teleport
Practicality
Spot Opportunity
Change
Technology, law &
regulation, market &
industry structures,
demographics, culture,
moods & fashions
Entrepreneurs exploit profitable
opportunities by moving resources
to these areas of higher return
 They spot opportunities (change)
 They create opportunities
(innovate)
 They accept risk and uncertainty
 They act
What is an entrepreneur
Creativity
System 2
left-brain
System 1
right-brain
Creativity
Can you think outside the box?
Airplane
Abstraction: Ability to
abstract from ideas
Connection: Ability to find
connections between
apparently unconnected things
Perspective:
Ability to shift
perspective on
a situation
Curiosity: Desire to
change things others
see as the norm
Boldness: Confidence
to push boundaries
beyond accepted
conventions
Paradox:
Ability to work
with contradictory
statements
Complexity:
Ability to
manipulate
large
quantities of
information
Persistence: Drive to find
better solutions when
good ones already exist
You: 69.48
Typical: 62.48
AULIVE creativity test
www.testmycreativity.com
Different people see different things
Changing your perspective can
change what you see
Changing your perspective can
change what you see
We have this clichéd idea of the lone
genius having the eureka moment ... in
fact … there is this quiet collaborative
process that goes on, either in people
building on other people’s ideas, but
also in borrowing ideas, or tools or
approaches to problems …
Creative ideas
Stephen Johnson
Johnson
Where Good Ideas Come From: The Natural History of Innovation, Stephen Johnson,
London: Allen Lane, 2010
[Creative ideas] come from crowds, from networks …
The ultimate idea comes from this remixing of various
different components … for the most part it’s a slower
& more networked process
1. Networking - finding
& testing ideas
2. Observing others -
particularly potential
customers
3. Questioning
common wisdom –
asking why? & why
not?
4. Experimenting -
trying things out
Discovery skills
Jeff Dyer
5. Associating
seemingly
unrelated
things -
connectivity
INNOVATION
=
The Innovator’s DNA, Dyer, Gregersen & Christensen, HBR December 2009
If I’d asked people
what they wanted
they’d have said
‘faster horses’
Henry Ford, 1863 – 1947
founder Ford Motor Company
CASE
insight Henry Ford
What was his big idea?
But where did he get
his idea from?
CASE
insight Henry Ford
Curiosity Connectivity
Creativity
Networking
Exposure to diverse influences, ideas & people
Observing Associating
Experimenting
Questioning
Discovery skills
Incubation
Creativity
Can you think inside as well as outside the box?
Subtraction
Subtracting product features
not valued by some market
segments
Division
Dividing out
the functions
of a product
Multiplication
Duplicating some
product feature or
characteristic
Task
unification
Bringing together
multiple tasks into
one product
Attribute dependency
Correlating two or more
apparently unrelated
attributes
Inside the Box: A Proven System of Creativity for Breakthrough Results,
Boyd and Goldenberg, Profile Books, 2013
Kevin Coyne
Entrepreneurs exploit profitable
opportunities by moving resources
to these areas of higher return
 They spot opportunities (change)
 They create opportunities
(innovate)
 They accept risk and uncertainty
 They act
What is an entrepreneur
PESTEL analysis
Brainstorming
Futures thinking
Mindmaps
Analogy
Political
Economic
Social
Technological
Environmental
Legal
Creativity Techniques
Brainstorm changes using PESTEL Analysis
Develop a vision of the future after that change using
futures thinking
Brainstorm commercial opportunities coming out of
identified change
Develop & refine opportunity using mind maps
Spotting opportunity
Change
List attributes of product/service
Brainstorm how these attributes can be improved
Develop & refine opportunity using mind maps
Spotting opportunity
Inadequate products
List attributes of product/service
Brainstorm the dimensions onto which these attributes
might be mapped
Identify the gaps in the mapping
Spotting opportunity
Gap analysis
Verify dimensions & gaps using market research
Brainstorm changes using PESTEL Analysis
Develop a vision of the future after that change using
futures thinking
Brainstorm commercial opportunities coming out of
identified change
Develop & refine opportunity using mind maps
Spotting opportunity
Change exercise
1. Identify change
Political
Economic
Social
Technological
Environmental
Legal
Brainstorm
- Suspend
disbelief
2. Link it to a business opportunity
Political
Economic
Social
Technological
Environmental
Legal
Mindmap-
That’s
better!
3. Develop the idea
Political
Economic
Social
Technological
Environmental
Legal
4. Evaluate the idea
Evaluate –
But will it
work?
Political
Economic
Social
Technological
Environmental
Legal
Go/no-go decisions
Go/no-go
decision point
Go/no-go
decision point
Business
idea
generation
Phase 1: Research Phase 3:
Launch
Phase 2:
Business model
development
Screening
Commercial
viability
Product
specification
Product
concept
development
Prototype
development
Product
concept
testing
Launch
Business
model &
strategy
development
Market/ industry
research
Market
testing
Go/no-go
decision point
Self-
analysis
Discussion
Viability
Personal viability
 Personal character –
do you have the
inclination to do it?
 Personal aspirations
– do you want to do
it?
 Personal skills &
resources – can you
do it?
Commercial viability
 Customers - will they
buy it at a viable price?
 Competitors – who are
they & can you beat
them?
 Profitability - is it
worthwhile?
 Fundability – can you
raise it?
 Risk – is it acceptable?
Final
business
idea
Commercial viability
Business idea formulation
& reformulation
Car boot, garage or trunk sales
Pop-up shops
Facebook & internet-based
local trading sites
Amazon & eBay
Lean start-up
Low cost market testing
Launch your product in its ‘minimum viable’
state & then tailor it to the specific needs of
customers - learn by doing
Advantages:
 Cost minimization
 Market risk reduction
 Fast - first mover advantage
Key to success:
 Close customer relationships with
mechanisms to receive & act on their feedback
Lean Start-up
Eric Ries
Jeff Dyer short
Return
Step 2:
Push to
maximise
return
Step 1:
Set
acceptable
level of risk
Risk

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1.2 Business Ideas Business Ideas Busine

  • 1. 1. What entrepreneurial qualities or characteristics did Jobs exhibit? 2. Why was he so successful? How much of his success was just good luck? Obit Guardian CASE insight Steve Jobs & Apple
  • 2. Entrepreneurial Character High internal locus of control High need for achievement High need for autonomy 2 High acceptance of measured risk & uncertainty High creativity, innovation & opportunism
  • 4.  Focus  Simplify  Take responsibility end-to- end  When behind, leapfrog  Put products before profits  Don’t be a slave to focus groups  Bend reality The Real Leadership Lessons of Steve Jobs, Walter Isaacson, HBR April 2012 CASE insight Steve Jobs & Apple
  • 5.  Impute  Push for perfection  Tolerate only ‘A’ players  Engage face-to-face  Know both the big picture & the detail  Combine humanities & sciences  Stay hungry, stay foolish The Real Leadership Lessons of Steve Jobs, Walter Isaacson, HBR April 2012 2 part Isaacson interview CASE insight Steve Jobs & Apple
  • 6. ‘Making an enduring company is both far harder and more important than making a great product’ Steve Jobs, Founder Apple 1955 - 2011 CASE insight Steve Jobs & Apple
  • 7. Marking 25%: Critical evaluation of GET2 profile 25%: Supporting evidence for your evaluation 25%: Analysis of antecedent influences 15%: Reflection & conclusions 10%: Presentation (incl. sources & references) How is Assessment 1 marked?
  • 10. Create uncontested market space by challenging market conventions:  Sectoral conventions  Performance conventions  Customer conventions Market paradigm shift Chaston, 2000
  • 11. Create Opportunity Product/market innovation Incremental Radical Market Need Business ideas Butter Stick Teleport Practicality Spot Opportunity Change Technology, law & regulation, market & industry structures, demographics, culture, moods & fashions
  • 12. Entrepreneurs exploit profitable opportunities by moving resources to these areas of higher return  They spot opportunities (change)  They create opportunities (innovate)  They accept risk and uncertainty  They act What is an entrepreneur
  • 14. Creativity Can you think outside the box? Airplane
  • 15. Abstraction: Ability to abstract from ideas Connection: Ability to find connections between apparently unconnected things Perspective: Ability to shift perspective on a situation Curiosity: Desire to change things others see as the norm Boldness: Confidence to push boundaries beyond accepted conventions Paradox: Ability to work with contradictory statements Complexity: Ability to manipulate large quantities of information Persistence: Drive to find better solutions when good ones already exist You: 69.48 Typical: 62.48 AULIVE creativity test www.testmycreativity.com
  • 16. Different people see different things
  • 17. Changing your perspective can change what you see
  • 18. Changing your perspective can change what you see
  • 19. We have this clichéd idea of the lone genius having the eureka moment ... in fact … there is this quiet collaborative process that goes on, either in people building on other people’s ideas, but also in borrowing ideas, or tools or approaches to problems … Creative ideas Stephen Johnson Johnson Where Good Ideas Come From: The Natural History of Innovation, Stephen Johnson, London: Allen Lane, 2010 [Creative ideas] come from crowds, from networks … The ultimate idea comes from this remixing of various different components … for the most part it’s a slower & more networked process
  • 20. 1. Networking - finding & testing ideas 2. Observing others - particularly potential customers 3. Questioning common wisdom – asking why? & why not? 4. Experimenting - trying things out Discovery skills Jeff Dyer 5. Associating seemingly unrelated things - connectivity INNOVATION = The Innovator’s DNA, Dyer, Gregersen & Christensen, HBR December 2009
  • 21. If I’d asked people what they wanted they’d have said ‘faster horses’ Henry Ford, 1863 – 1947 founder Ford Motor Company CASE insight Henry Ford What was his big idea?
  • 22. But where did he get his idea from? CASE insight Henry Ford
  • 23. Curiosity Connectivity Creativity Networking Exposure to diverse influences, ideas & people Observing Associating Experimenting Questioning Discovery skills Incubation
  • 24. Creativity Can you think inside as well as outside the box? Subtraction Subtracting product features not valued by some market segments Division Dividing out the functions of a product Multiplication Duplicating some product feature or characteristic Task unification Bringing together multiple tasks into one product Attribute dependency Correlating two or more apparently unrelated attributes Inside the Box: A Proven System of Creativity for Breakthrough Results, Boyd and Goldenberg, Profile Books, 2013 Kevin Coyne
  • 25. Entrepreneurs exploit profitable opportunities by moving resources to these areas of higher return  They spot opportunities (change)  They create opportunities (innovate)  They accept risk and uncertainty  They act What is an entrepreneur
  • 27. Brainstorm changes using PESTEL Analysis Develop a vision of the future after that change using futures thinking Brainstorm commercial opportunities coming out of identified change Develop & refine opportunity using mind maps Spotting opportunity Change
  • 28. List attributes of product/service Brainstorm how these attributes can be improved Develop & refine opportunity using mind maps Spotting opportunity Inadequate products
  • 29. List attributes of product/service Brainstorm the dimensions onto which these attributes might be mapped Identify the gaps in the mapping Spotting opportunity Gap analysis Verify dimensions & gaps using market research
  • 30. Brainstorm changes using PESTEL Analysis Develop a vision of the future after that change using futures thinking Brainstorm commercial opportunities coming out of identified change Develop & refine opportunity using mind maps Spotting opportunity Change exercise
  • 32. Brainstorm - Suspend disbelief 2. Link it to a business opportunity Political Economic Social Technological Environmental Legal
  • 33. Mindmap- That’s better! 3. Develop the idea Political Economic Social Technological Environmental Legal
  • 34. 4. Evaluate the idea Evaluate – But will it work? Political Economic Social Technological Environmental Legal
  • 35. Go/no-go decisions Go/no-go decision point Go/no-go decision point Business idea generation Phase 1: Research Phase 3: Launch Phase 2: Business model development Screening Commercial viability Product specification Product concept development Prototype development Product concept testing Launch Business model & strategy development Market/ industry research Market testing Go/no-go decision point Self- analysis Discussion
  • 36. Viability Personal viability  Personal character – do you have the inclination to do it?  Personal aspirations – do you want to do it?  Personal skills & resources – can you do it? Commercial viability  Customers - will they buy it at a viable price?  Competitors – who are they & can you beat them?  Profitability - is it worthwhile?  Fundability – can you raise it?  Risk – is it acceptable? Final business idea Commercial viability Business idea formulation & reformulation
  • 37. Car boot, garage or trunk sales Pop-up shops Facebook & internet-based local trading sites Amazon & eBay Lean start-up Low cost market testing
  • 38. Launch your product in its ‘minimum viable’ state & then tailor it to the specific needs of customers - learn by doing Advantages:  Cost minimization  Market risk reduction  Fast - first mover advantage Key to success:  Close customer relationships with mechanisms to receive & act on their feedback Lean Start-up Eric Ries Jeff Dyer short Return Step 2: Push to maximise return Step 1: Set acceptable level of risk Risk