Presenter:
Tom McKaskill, CPA, Ph.D
Long term profitability requires a business to be both
innovative and entrepreneurial and yet few corporations
understand the broad application of these concepts. Most
businesses see innovation as invention or incremental
changes to existing products and services without any real
understanding of the contribution that process or business
concept innovation could have for their business or how the
business might become receptive to market opportunities.
Corporations are naturally conservative and bureaucratic,
the very antithesis of entrepreneurial thinking. Thus
opening up the culture to enable new ideas to flourish is
itself a challenge. Even then ideas need to be
systematically evaluated and progressed if they have
potential. Not every business idea is capable of generating
a sustainable profitable outcome and many will fail thus
the corporation needs to develop a tolerance for failure if
it is to discover successful initiatives. Problems of staff
selection, rewards and post venture employment also need to
be carefully handled.
While many corporations seek to introduce innovation and
entrepreneurship programs to generate new revenue streams,
the major benefits come from opening up the culture to new
ideas, developing a more exciting place to work and
allowing personal initiative to flourish.
This presentation will provide an exposure to the
challenges and benefits of introducing an innovation and
entrepreneurship program and provide a base from which
interested executives can examine their own corporation’s
capability to launch such a program.
Duration:
30 minutes to 1 hour
Attendees:
Business owners and business
advisors. No limit to number of attendees.
Format:
Lecture style with questions
and answers at the end.
Further
Information: Participants should read the ebook
written by Professor McKaskill on this strategy.
Book:
Participants should acquire
the ebook written by Professor McKaskill on this strategy.
McKaskill, T., (2010), Ultimate Growth Strategies - A
practical guide to engineer high growth into your business,
Breakthrough Publications, Australia. This free ebook is
available at www.drexit.net
