entrepreneurship as empowerment & transformation

ENTREPRENEURSHIP AS EMPOWERMENT & TRANSFORMATION

Michael H. Morris, Ph.D.George and Lisa Etheridge ProfessorAcademic Director of Entrepreneurship ProgramWarrington College of Business AdministrationUniversity of Florida

“The reasonable man (woman) adapts himself (herself) to the world. The unreasonable one persists in trying to adapt the world to himself (herself). Therefore, all progress depends on unreasonable men (and women).”

-George Bernard Shaw

University of Florida Imagine > Believe > Create

An entrepreneurial revolution• Up to 1 million new for profit and non-profit

ventures a year in U.S.• Over 80% of the new jobs• New product/service introduction rate• New patent issuance rate• Rate of wealth creation• Women and minorities now lead the pack• And it’s a global revolution


The revolution…

It is an age of omnipresent entrepreneurship: more choices, more innovation, more technological advances, more change, more opportunity, more possibilities


Entrepreneurs are the heroes---they make the world livable for everyone else…

-they are the ones who question, who challenge

-they are the ones who take responsibility for change

-they are what the human spirit is all about

-they are the hope for a better life, for the end of poverty, for the destruction of discrimination---

-they are the quiet revolutionaries

…entrepreneurship is the most empowering, the most democratic, the most freedom-creating phenomenon is the history of the human race


The at-risk student is the student that is not prepared for the entrepreneurial age

Entrepreneurship is the ultimate source of advantage


So what does this mean for the focus of your programs?

• business basics, the mechanics of starting a venture, and borrowed content

vs.

• entrepreneurship as a distinct discipline with a distinct content

vs.

• entrepreneurship as a way of thinking and acting


What’s your relative focus? Business basics Entrepreneurship basics Entrepreneurial thinking & acting

Setting up the books Entrepreneurship defined Opportunity alertnessHow to sell The entrepreneurial process Risk mitigationHiring of staff Characteristics of entrepreneurs Resource leveragingForms of enterprise Types of entrepreneurs Conveying a visionCash flow management Contexts for entrepreneurship InnovatingFormulating strategy Innovative business models PassionMarket analysis Entrepreneurial cognition Persistence and tenacitySetting up operations The nature of opportunity Creative problem-solvingPricing Ethics and entrepreneurship Guerrilla behaviorPromotion & advertising Seed and venture capital OptimismFinancial statements Lean start up Learning from failureFranchising Entrepreneurial orientation Effecting changeManagement control Entrepreneurship and society AdaptationCost analysis Exit strategies ResilienceProtecting IP


The entrepreneurial mindset

Attitude- You can affect change- There is a better way- Opportunities are everywhere- Embrace innovation, change & growth- Failure is learningBehavior- Act on opportunity- Continuously innovate- Persevere- Leverage resources - Act as a guerrilla - Mitigate risks

Professionally-Entrepreneuring in different ways over one’s career cycle corporate E social E public sector E family business

E E in a

profession

In One’s Life- In the family- In church activities- In communityinvolvement-In personal relationships- In managing personal finances- In dealing with personal change

I think we have to go further…• More than simply ‘a process’

• More than ‘opportunity recognition and exploitation’

• Fire in a bottle

• Unleashing the potential of E

entrepreneurship as empowerment entrepreneurship as transformation


Empowerment“The process of increasing the capacity of individuals or groups to make choices and to transform those choices into desired actions and outcomes”

-World Bank

• To create your own job• To create your own future• To create your own wealth• To create your own sense of pride and self-worth• To create your own identity• To create your own facilities and operations• To create jobs for others• To create your own contribution to the world• To create your own ability to give back


Transformation“An underlying change in the appearance, character, form or structure of someone or something”

Entrepreneurs are:• transforming markets• transforming business practices• transforming industries• transforming oneself• transforming families • transforming communities• transforming economies


Realizing the power of E in our programs

• Empowering and transforming students

• Empowering and transforming the campus

• Empowering and transforming our communities

Realizing the power of E in our programs

7 C’s: - concept for your program - convictions that drive your approach - competencies being developed - connections being leveraged - creative edge in program design - challenging convention in program implementation

- concept for yourself


What’s your core program concept?

• The center as an administrative unit• The center as an academic unit• The center as a venture• The center as an innovation factory• The center as a platform for empowerment and

transformation


What are your convictions?• Every student an entrepreneur• Total student immersion—more learning occurs outside

the classroom• Students want to be part of something bigger than

themselves• Students really can change the world• Students really can start things (getting past execution

phobia)• Students really can run components of your program• Students really can consult to entrepreneurs

Entrepreneurial competencies• Recognizing opportunity• Assessing opportunity• Mastering your creativity• Leveraging resources• Guerrilla skills• Mitigating and managing risk• Planning when nothing exists• Innovation---developing ideas that work• Formulating and conveying a compelling vision• Building and exploiting networks• Ability to maintain focus yet adapt• Tenacity and resilience• Implementation of something novel or new


Making connections: the components of an E program

Curriculum and Degree Programs

Co-Curricular Student

Programming

Cross-campus & Interdisciplinary

Initiatives

Engagement with Entrepreneurial

Community

Research Agenda


Connecting the dots

Classroom

Experiential learning

Community engagement


Connections: the university-wide mandate health care entrepreneurship

community-based entrepreneurship hospitality entrepreneurship

arts entrepreneurship historical entrepreneurship

green or sustainable entrepreneurship public sector entrepreneurship

social entrepreneurship engineering entrepreneurship agricultural entrepreneurship pharmacy entrepreneurship

women, ethnic and minority entrepreneurship sports entrepreneurship

quality of life entrepreneurship global entrepreneurship


What’s your self-concept?

Are you an academic entrepreneur…-discovering opportunity in the academic setting-developing innovations to capitalize on opportunity-implementing a constant stream of innovation-taking calculated risks in a university environment-leveraging resources-acting as a guerrilla


It’s about being entrepreneurial


EO of your center

Innovativeness Risk-taking

Willingness to pursue

initiatives having

reasonable chance of

failure; clever approaches to

mitigating risks

Proactiveness

An action orientation, being a first mover, rule-

bending, tenacity,

leveraging, tolerance of

failure

Example: EESA• 25 U.S. students join 20 African students in helping

historically disadvantaged entrepreneurs over six weeks

• Intense engagement resulting in four tangible deliverables per client

• Fundamental transformation both in the students and in the ventures

• Students empowered to create value, entrepreneurs grow as managers and see new opportunities


Example: VEP• Disabled veterans get intensive assistance in starting

and growing ventures

• Three-stage program unfolding over 11 months

• Costs the veteran nothing

• 75% success rate: empowered and transformed

• Expanding to a consortium of schools


Example: the SSIC• University-run innovation center/incubator in the inner

city

• Intervention model

• Consulting initiative

• Training programs

• Microcredit program

• Students involved in delivery

• Departments across the campus engagedUniversity of Florida Imagine > Believe > Create

The greatest job in the world…• We get to encourage students to dream --- and dream

big

• We get to give them the tools to make those dreams come true

• We get to challenge them to do things that are bigger than themselves

• We get to let them fail

• Our programs can empower and transform them

“Be the change you wish to see in the world”

-M. Gandhi

entrepreneurship as empowerment & transformation

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