The End of the Status Quo

The End of the Status Quo

The End of the Status Quo

Saturday, August 22, 2020, by Ayman El Tarabishy

In creating sustainable and continuous cycles of growth, our enterprises must see themselves as part of a greater whole.

As transparency increases and the global population stands firmly and united in their demands to promote a just and green economy.

In December of 2019, ICSB provided a message to its entrepreneurship community, indicating the foreseeable “End of the Status Quo.” ICSB was expecting the need for a great upheaval of our past societal structure to meet the needs of an advancing world. With the growing demand for employment opportunities, attention to global health trends, and humanitarian justice, we can no longer ignore how our status quo has failed us. At the turn of the decade, we understood a need for change, and, now, almost 9 months into this Decade of Action (United Nations), it seems complicated to imagine how we managed to exist within that ancient platform.

Welcoming in this new paradigm, brought on by the need for change and subsequent crises that forced that change, we might find it challenging to articulate precisely where we are. Luckily, as always, with entrepreneurship, we can choose with which perspective we wish to engage in. Without ignoring the struggles and challenges presented by the current status of our global community, ICSB would like to participate with the new and exciting changes, unearthed by the recent crises, which can no longer be ignored. From significant alterations in education systems and the digitization of the entire world to discussions around a universal basic income, we can choose to capture the opportunities from these events. In thinking about the dramatic changes in the political world, the rise of the gig economy, and constant changes in national and international relations, ICSB has spent time reflecting on the major themes emerging from this moment.

Over the past couple of months, we have pressed ourselves to create a weekly reflection on Humane Entrepreneurship. During the struggle of the COVID-19 induced lock-down and border closures, we were uncertain of any resemblance of the present and the future. However, we felt that it was essential to build a presence that embodied our aspired future. Therefore, we have spent months creating content about the theory of Humane Entrepreneurship as we were sure that, regardless of our future, we wanted it to involve the guiding principles of care and protection for the human person as well as for our shared environment. This theory bridges the current entrepreneurial ecosystem and the ideal and future one by providing guidelines through which we might categorize enterprises. These reflection pieces have been incredible in helping shape our understanding of who we are, as an ICSB community, and where more effort and impact is needed.

The status quo is no longer enough, and in building our world anew, we might consider that we do not wish to create a new status quo, but rather that we can, instead, define our current situation through the trends it exhibits. ICSB considers four guiding themes that will push us forward into the future. The themes, being forgiveness, frugal innovation, Humane Entrepreneurship, and resiliency, represent the important topics with which we, as a community, must engage to step freely and gracefully into our future world.

In creating sustainable and continuous cycles of growth, our enterprises must see themselves as part of a greater whole. Enterprises who start to view their ventures through the perspective of frugal innovation will consequently create solutions for more people without utilizing additional resources. The businesses who are willing to honestly admit their missteps regarding employment policies, working conditions, and environmental exploitation will be able to incorporate an application of forgiveness and subsequently transition towards more virtuous practices. This execution will be part and practice of focusing on the human-specific theory of Human Entrepreneurship (HumEnt). HumEnt will ultimately leverage a firm’s, an organization’s, or a nation’s ability to create quality employment opportunities and therefore sustainably increase their wealth, which will generate patterns of resilience in the face of crisis.

As transparency increases and the global population stands firmly and united in their demands to promote a just and green economy, ICSB sees the smaller entrepreneurial units as key players in these transitions. When we begin to see the positive effects of putting an end to our past status quo, we will no longer stand for the same injustices. Micro, small, and medium-sized enterprises (MSMEs) have an incredible capacity to incorporate these strategies and themes into their structural DNA to promote an equitable future for all more greatly.

Please follow with us as we expand our reflection series to include all players in the “End of the Status Quo.”

 

Article by:

Dr. Ayman El Tarabishy
President & CEO, ICSB
Deputy Chair, Department of Management, GW School of Business

Barbershop Narratives

Barbershop Narratives

Entrepreneurship & Youth Employment in Africa: Barbershop Narratives

Monday, August, 17, 2020

Entrepreneurship & Youth Employment in Africa: Barbershop Narratives

Monday, August, 17, 2020

What is Happening with African Youth?

African youth are fast becoming an endangered species as far as employment is concerned. It is even worse carrying the dual baggage of youth and immigrants. A recent study on hair salons in a South African municipality has unveiled the prime sources of funding and the potential uses to which these funds could be channeled. 

In the age of technology, even barbershops are impacted. A recent study has suggested that the widely held assumption that many small businesses especially in the informal-dominated hair salon/ hair dressing sector, have struggled to access funding from public agencies, leading to their incapacity to acquire and deploy new technology for the performance of their daily operations. It also acknowledges an absence of scholarly research exploring the nexus between public funding and technology acquisition. This study recommends judicious acquisition of inexpensive technologies (e.g. social media platforms) and cautionary utilization of complex technologies with targeted policy intervention in order to ensure that the youth are not excluded from the economy (Read more…).

The Changes in Wealth

The Changes in Wealth

The Changes in Wealth

Saturday, August 15, 2020, by Ayman El Tarabishy

We must think about if our output is wealth for wealth’s sake, where does that leave our world, our human community, our humanitarian systems, and the ecosystem?

Altering Perspectives with Humane Entrepreneurship

In the introduction to our paper, “Humane Entrepreneurship: How Focusing on People Can Drive a New Era of Wealth and Quality Job Creation in a Sustainable World,” Dr. Ki-Chan Kim, Dr. Song-Tae Bae and I posed the question, “Where — exactly — is the wealth of nations?” We lead from this specific question because it demands that we alter our perspective before even engaging with a theory of Humane Entrepreneurship (HumEnt). This purposeful act of expansion and openness allows readers to set aside their preconceived ideas and judgments that may prevent them from fully connecting with and receiving the ideas of HumEnt.

Returning to the idea of wealth, we must discuss how this expansion and change take place and what these might resemble. Going back to the basics, we will return to the World Bank definition published over 10 years ago describing wealth as “a complementary indicator to gross domestic product (GDP) for monitoring sustainable development in a country.” This definition demonstrated to the masses that wealth is not solely about specific amounts, a surplus of financial or physical resources, nor richness. Wealth now has grown to include the management of “a broad portfolio of assets,” including those that are “produced, human, and natural resources.”

As we know today, it is not just about the outcome of doing business, achieving performance outcomes, or leading a nation. Still, rather global trends tell us that it is more about how we carry out these activities. The recent and ever-evolving health and humanitarian crises have very much illuminated that if we do not make this necessary shift to achieving a virtuous and continuous ‘how,’ our world will not be able to continue caring for and housing the same amount of inhabitants that it does currently. Therefore, in other words, we must think about if our output is wealth for wealth’s sake, where does that leave our world, our human community, our humanitarian systems, and the ecosystem?

That is why we first must push for wealth to include the effort and resulting outcomes of the pursuit of sustainable development, as the World Bank indicated, as well as to initiate a conversation about protecting what we already have.

We have fallen so quickly and so easily to the charm of agile development that we have forgotten the value of the resources that we have. Luckily, Humane Entrepreneurship calls for heightened importance in the person and the community, so that with HumEnt we can begin to practice frugal innovation, which demands us to look at what we have, admit that it is enough, and use that to strive to provide equitable products and services for those who our system has systematically excluded.

Neither the evolution of our definition of wealth nor the complete acceptance and transition towards HumEnt will come first. These are two noble goals that we can think of as working collectively. Their combination will help us reframe and repurpose our business pursuits so that they have higher outcomes that involve sustainable and equitable change for all.

Let’s get started.

Article by:

Dr. Ayman El Tarabishy
President & CEO, ICSB
Deputy Chair, Department of Management, GW School of Business

Norris Krueger Wins Dedication to Entrepreneurship Award

Norris Krueger Wins Dedication to Entrepreneurship Award

Norris Krueger Wins Dedication to Entrepreneurship Award

Tuesday, August 11, 2020, by Ayman El Tarabishy

Entrepreneurship Division of the Academy of Management awarded
Dr. Norris Krueger, the Division’s 2020 Dedication to Entrepreneurship Award.

Dr. Norris Krueger is also the 2020 ICSB Presidential Award Recipient awarded on June 27, 2020 (MSMEs Day). The ICSB Presidential Award is a high honor given to those exceptional ICSB members who can integrate the importance of service and empathy into their roles as innovative leaders. 

Some quotes about Dr. Krueger’a impact

“Norris Krueger is one of those people whose brilliance and spark is felt as soon as he
walks in the room.”

—Tiffany Henry, Program Officer and Entrepreneurial Ecosystem Builder, ESHIP

“Norris has the heartbeat on what makes a startup community thrive. He’s connected and is a catalyst for stimulating new businesses and opportunity.”

— David S Austin, serial entrepreneur and angel investor, CustomerNerd, Idaho

“I know from experience that in particular younger scholars and students find his way accessible, inspiring and most of all encouraging—the latter enabling scholars to venture down unchartered territory (e.g. cross-disciplinary engagement; cross-disciplinary application of concepts and theories; and testing out new methods or [in]validating daring assumptions).”

— Gabi Kaffka, Chair Strategy, Organisation and Entrepreneurship, Utrecht University School of Economics

“Dr. Norris Krueger is arguably the field of entrepreneurship’s preeminent scholar and most enthusiastic and influential spokesperson in the past thirty years. He is an academic game-changer with regard to his scholarly work on entrepreneurship intentions, his dedication to increase the visibility of entrepreneurship globally and successful efforts to construct locally-based entrepreneurial ecosystems for economic growth.”

—Deborah Virginia Brazeal, Cal Poly Pomona College of Business Administration

ICSB is exceptionally delighted to acknowledge its ICSB Member and Presidential Award Recipient as also an Academy of Management award recipient.  

Please view featured webinar with Dr. Norris Krueger (click here)
Please review article with Dr. Norris Krueger (click here)

ICSB will soon announce an exciting initiative with Dr. Norris Krueger titled “NEW TYPE OF PROFESSOR”

Entrepreneurship Readiness and New Ventures Development: Issues and Implications of Entrepreneurial Education in Mexican Universities

Entrepreneurship Readiness and New Ventures Development: Issues and Implications of Entrepreneurial Education in Mexican Universities

Entrepreneurship Readiness and New Ventures Development

Monday, August 10, 2020 by Ricardo D. Álvarez

Entrepreneurship Readiness and New Ventures Development

Monday, August 10, 2020 by Ricardo D. Álvarez

Issues and Implications of Entrepreneurial Education in Mexican Universities

Previous research has demonstrated a positive relationship between perceived self-efficacy and entrepreneurial intention.

A descriptive cross-sectional study was carried out to assess the impact of entrepreneurship education on students’ perceived self-efficacy, intentions and orientation within three selected universities in the city of Tijuana, Mexico.

A survey was conducted and data was collected utilizing previously developed instruments. Results were compared and analyzed, identifying the correlations that exist between entrepreneurial education experience and reported levels of entrepreneurial self-efficacy, orientation and intentions.

If universities do not promote entrepreneurship education, it is expected that students would be less likely to pursue new business ventures after school. Our research results although limited, may be useful for university decision makers interested in supporting and establishing formal entrepreneurship coursework in Mexican universities. Such support is necessary in order to facilitate new businesses creation in the country which may lead to future gains in economic growth and development (…read more).

Read the Full Paper.