Transcript ENTREPRENEURIAL MANAGEMENT: What makes the difference?

CREATIVE
ENTREPRENEURSHIP:
Methodologies &
strategies to support the
creative industries sector
Professor David Rae
[email protected]
Creative Entrepreneurship
Messages from young creative entrepreneurs
‘Being young is a challenge in itself – not being taken
seriously as business people by banks and
accountants’
‘Focusing on progress and achievement with supportive
peer review really helps’
‘Collaborative action and networking builds confidence’
‘Enterprise bursaries help reduce risk and fund start-up
costs’
Creative Entrepreneurship
Questions to address:
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Why is there a need for creative entrepreneurship by
young people?
Why the creative industries sector?
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What do we aim to achieve?
What do young entrepreneurs want and need?
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How can we achieve our goals?
What approaches do we know that work?
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Who needs to work together?
What resources and initiatives are required?
Creative Entrepreneurship
Our challenge
As enterprise educators we face the biggest
challenge and opportunity of our generation
in the post 2008 era:
How to provide the confidence, skills and tools
which will inspire and enable young people to
start their working lives and to achieve
economic and social regeneration through
enterprise.
Creative Entrepreneurship
Why is there a need for creative
entrepreneurship by young people?
• Worklessness is a major social & economic
problem for the next decade
• Corporate & public sectors cannot provide the
jobs required
• Creative thinking is required to create the new
jobs
• Investing in young people & creativity will show
economic & social returns
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Creativity & creative industries
Are the ‘creative industries’ too narrow or an artificial definition?
Creativity is required in all organisations:
• Creative problem-solving
• Creating opportunities
• Designing & innovating new products, services, experiences
• Creative communications & marketing channels
• Creative uses of new technology
• Creative social enterprises & social spaces
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What do we aim to achieve?
• Increase entrepreneurial potential & aspirations
of young people?
• Enhance creativity in society?
• Increase in ventures created?
• Provide socially & economically useful services
for communities?
• Provide useful jobs?
• All of these? Choices affect the actions we take.
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What do young
entrepreneurs want & need?
Many have:
• Ideas & imagination
• Energy & passion
• New technology knowhow
• Perceive opportunities
we do not
• Do not know what
cannot be done
Many require:
• € Resources
• Experience
• Self belief
• Business skills &
knowledge
• Access to business &
social networks
• Ability to convince the
bank manager
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How? Entrepreneurial learning –
a vital capability for the new era
• Learning to work as an entrepreneur by
acting opportunistically & creatively
• Experiential discovery-led learning by doing
from primary to Higher Education
• Applied creativity
• Engage business people and communities in
the learning process – outside the classroom
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Every one of us is
a creative person!
We can have ideas
and do things
with them!
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Turning winning ideas > opportunities
3. Innovations
& solutions
1. Problems
& needs
2. Who is it for?
4. How to make
it happen
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What can students gain from enterprising
learning?
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Purposeful, stimulating & engaging learning
Relevant to their lives & careers
Investigating ‘real’ problems and exploring opportunities
Personal growth & social confidence, energises them to succeed
Experiential, practical, work and community situated learning
Provides supporting business skills & know-how
Alumni, practitioners and entrepreneurs contribute to learning
Risk, uncertainty and ambiguity to develop students’ judgement
‘Feel the enterprise experience’ – emotional engagement
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Opportunity centred
entrepreneurship
Networking
Creating & using contacts
Communicating effectively
Self marketing
Learning from experience
What do I want?
Personal goals
Skills & strengths
Confidence & self efficacy
Values & motivations
Personal enterprise
Acting on
opportunity
OPPORTUNITY
CENTRED
ENTREPRENEURSHIP
Planning:
Goals
What is success?
How-to?
Who with?
Resources
Planning to realise
opportunity
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Creating &
exploring
opportunity
Creative thinking
Exploring ideas
Seeing needs as
opportunities
Taking initiative
A new paradigm for entrepreneurship?
Old e-ship (US/UK?)
New e-ship (European?)
• Individualist
• Neo-liberal capitalism
• Opportunity pursuit regardless
of consequences
• Business driven: short term
profitability & growth
• Value creation solely financial
• Exploits & wastes resources
• Exclusive role models
• Masculine attributes:
aggression, power, conflict
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Individual-team leadership
Networked & collectivist
Socially connected & inclusive
Ethically responsible
Sensitive to resource
conservation & re-use
Multiple forms of value creation
Economically &
environmentally sustainable
Feminine values: relational,
collaborative, intuitive
Grassroots enterprise
This change can be achieved though education, practice & leadership
Creative Entrepreneurship
New connections for creative
entrepreneurship
Students
Entrepreneurs
& business
networks
Educators
Connect
People
Communities
Government agencies
Problems
& opportunities Generate
Ideas
Purpose & commitment
Confidence to act
Resources
Teams
Ventures
Results
Creative Entrepreneurship
Support
Latent resource entrepreneurship
Find new uses for resources being wasted - e.g. by big
organisations in recession:
• Resources (people, property, IP, technology, capacity,
finance, knowledge)
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• Opportunities (creative problem-solving)
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• Facilitation support (people learning in teams)
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• Venture projects (create value, jobs & solve problems)
Creative Entrepreneurship
Examples of what works
Enterprising learning:
• Enterprise in the 12-16 curriculum
• Junior Achievement/Young Enterprise
in schools
• Prince’s Trust supporting disadvantaged
young entrepreneurs (18-30)
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Student business start-up
• SPEED: 750 students started businesses 2006-8
• Enterprise Inc. student & graduate start-ups (ERDF)
• Based on bursaries + support
http://www.emincubation.co.uk/main/Enterprise_Inc
• Student enterprise clubs & societies – NACUE
www.nacue.com
• National Council for Graduate Entrepreneurship
www.ncge.com
Creative Entrepreneurship
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What is Access Innovation?
The aim:
• To assist business improvement through innovation
How:
• Company-specific development projects with students and graduates
• Introduce & exploit new opportunities, markets, products, services
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Increase productivity & efficient use of resources
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Improve competitive edge: survival and growth
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Make money
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Enhance graduate employability and retention.
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Create and safeguard jobs
Creative Entrepreneurship
Summary
• Our leadership is essential to connect people
& organisations
• Support young people’s & student enterprise
clubs & societies
• Applied creativity & learning by doing
• Use the new technology
• Invest resources & support
• Collaborative innovation by young people,
education, business, communities & public
sector is the way forward.
Creative Entrepreneurship
Featured book:
Opportunity Centred
Entrepreneurship
‘Entrepreneurship: from Opportunity to Action’
© Professor David Rae: Palgrave MacMillan 2007
www.palgrave.com/business/rae/
Chapter 1 & tools downloadable free on website
Lowest price: www.bookdepository.co.uk
[email protected]
Creative Entrepreneurship