Entrepreneur | Innovation
It’s not over until we win
A crisis, by definition, is a period of difficulty and constraint. While crisis can be a threat to many, it can also be a turning point-an opportunity to serve new unmet needs in new ways. We are living through times with many different – often intersecting – crises: a global economic crisis; a healthcare crisis; an energy/natural resources crisis; an education crisis; crises on multiple fronts in the developing world; leadership and management crises; crises involving broken business models in many industries, such as automobiles, newspapers, pharmaceuticals, etc. Some crises may be cyclical while others will be with us for a long time. Even if some of these crises are resolved or mitigated, most of them will continue to play a key role in the business environment in the coming decades. It is critical to learn how to spot value-creating opportunities in the midst of – and even taking advantage of – a crisis and to translate the insight into profitable new ventures, entrepreneurial initiatives or innovations. Companies, entrepreneurs and managers who excel at such crisis-led entrepreneurship will operate from a position of competitive advantage in the business environment going forward.
Educational Objectives:
- Identify emerging entrepreneurship and innovation opportunities arising from a crisis of some kind
- Build expertise in a domain: an industry (possibly also a function or a geography) and the elements associated with a crisis that affects the industry/function/geography as well as knowledge of a company;
- Develop a disciplined approach to converting the opportunity spotting to a value-creating business model and developing a general business plan
- Understand the risks and challenges and approaches to managing them
Course Content and Organization:
- Exploring common elements in crisis situations and identifying entrepreneurial opportunities in business environments or companies experiencing a crisis;
- Identifying key solution elements, e.g. technologies, innovations, processes, financial resources, talent, partnerships and business models;
- Leading change, communicating ideas, overcoming entrenched mind-sets and barriers;
- Putting the ideas into practice, execution issues, identifying opportunities for growth and managing the risks.
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