Concerted International Small Business Policy: Unified Agenda Needed for a Sustainable Global Economy
Last week, world experts gathered in Washington DC at the George Washington University for the 8th Annual Global Entrepreneurship Research and Policy Conference to engage in a much-needed dialogue centered around global entrepreneurship. This group of experts composed of leaders from the United States, Korea, Canada, Italy, China, Argentina, Egypt, and the United Nations were united in their support for Micro-, Small-, and Medium Enterprises (MSMEs). As the Organisation for Economic Co-operation and Development (OECD) stated in their recent scorecard for SMEs, there is solid evidence for the need to improve SME policy making. We must advance the workforce not only in America, but in nations across the world to create jobs for Industrial Revolution 4.0—careers that can survive recent and continuing technological advances. One unified message that transcended borders on campus last week was the need for humane entrepreneurship and the desire for a global guide for prosperous MSME development.
According to the Korean delegation, Professors Zong Tae Bae (professor of KAIST University), Ki-Chan Kim (professor at Catholic University), and Former Minister of Small and Medium Business Administration for the Republic of Korea Young-Sup Joo, humane entrepreneurship and a creative economy will be the cornerstone of the next generation of entrepreneurship. Humane entrepreneurship (HE) is the melding of both the Human Cycle and the Business Cycle. The need for equity, empowerment, and enabling of the human while also creating an entrepreneurial environment which includes innovation, risk taking, and being proactive. Both require commitment to the employee and innovation for business success. However, regardless of where they were from, the people in the room believed the most valuable element for business development was the devotion to the employee. In addition, Korea is already focusing on SME development through a creative economy. Former SME Minister Young-Sup Joo illustrated how they are nurturing SMEs to develop their creative economy through high quality jobs and admired companies to name a few, but he went on to say that it will take global cooperation and inter-governmental efforts to reach the utmost success.
While the Korean delegation focused on the human and enterprise cycles, the Italian representatives believe that lawmakers must take this analysis one step further as presented by Dr. Roberto Parente (professor from Salerno University). While we nurture the employee, while we support innovation and business profits, we must also make a commitment both inside the company and outside the company. Policies should support the people, the business and the ecosystem. As an employee is committed to the business, the business makes a commitment to their environment. Then, the bionetwork will help society and nurture the business which will then compensate the employee. They believe this circle of give-and-take will lead to a prosperous global economy. In summation, the company should manage inside and outside the organization—profit, people, and planet.
Whether it was discussing industrial automation, trade-offs and benefits of different small business policy, women and entrepreneurship or even entrepreneurial coursework all of this dialogue was a product of the 8th annual George Washington University Entrepreneurship Conference. The annual entrepreneurship conference continued the current worldwide conversation between the public and private sectors as well as academia regarding the need for not only a robust global economy, but one that treats employees with dignity and respect.
The conference also highlighted the Giffoni Film Festival, which is a case study for humane entrepreneurship through the arts and humanities involving the youth of the world. A film festival, ranked number one by social networking standards, has touched more than 500,000 children over nearly five decades illustrating the importance of creating a business model that brings wealth to a community and also educates our young minds. Giffoni brings children from over fifty countries together and teaches them to look beyond their differences and accept each other. Other individuals recognized on behalf of their work for the small business community included Former Minister of Small and Medium Business Administration for the Republic of Korea Young-Sup Joo, who was instrumental in the formalization of UN MSME Name Day, and Professor George Solomon, a life-long academic professional specializing in entrepreneurship and small business management.
At the end of every conference, there should always be a take-away or the “what’s next?” The Republic of Korea has their opinions on how to advance the global economy, the Italians have their viewpoint on what to do to keep our world vibrant, now, all of us need to make sure this information is getting into the right hands. We want to continue the conversation about the importance of humane entrepreneurship, but we also want to highlight the need for guiding principles for Micro-, Small and Medium-sized enterprises worldwide. As we have said before, a unified front, a global strategy, a worldwide effort will ensure that all countries are prepared for the Industrial Revolution 4.0.
However, it is going to take the support of many nations to ensure the correct course of action is taken. A concerted effort will enable the world to fulfill the growing global workforce, the 600 million jobs gap that will be created in the next fifteen years according to the World Bank. Today, ICSB calls on the United Nations General Assembly to not only recognize MSMEs on their Name Day, but also, help nations work together to build the global policy framework necessary for sound small business development worldwide.
Dr. El Tarabishy is the Executive Director of ICSB and a Teaching Professor of Management at the George Washington University’s School of Business.
Dr. Sargeant is the Senior Vice-President of Development and Advocacy with ICSB and previously served as Chief Counsel for Advocacy at the U.S. Small Business Administration.
The International Council for Small Business (ICSB) is a non-profit organization devoted to continuing management education for entrepreneurs and small business. The ICSB is a co-author of the resolution for United Nations MSME Day.
President of ICSB-China Lu Feicheng delivered a keynote speech: “O2O Intellectual Drive” in ICSB-China 6th annual meeting & O2O intelligence initiative global innovation Entrepreneurship Forum
I’ll focus on sharing O2O intelligence drive with guests. Our team began to study entrepreneurship more than 10 years ago, and also applied to the education authorities for the major of entrepreneurship.At that time, there was a lot of sneer, ridicule and so on. In these ten years later, innovation and entrepreneurship became the national strategy, our team more than 10 years of “entrepreneurship” research to promote, gained a little harvest.
In the past five years, it has been difficult to find a university student’s career.
The first is young, inexperienced;
Second is lack of entrepreneurial resources;
Third is entrepreneurial success, not a short time can bear fruit;
Especially in recent years, our team hopes for young people, especially college students, to find more entrepreneurial projects to fall to the ground.5 years ago, we have been working with Alibaba, Taobao university strategic alliance, to train students to do business aspects of electricity exploration, electricity providers entrepreneurial success rate is high, quick results.Because the young university student computer technology is very formidable, the Internet technology is also better, therefore opening the net shop to start a business produce a very good achievement.
The past two years, such as Wanda, Suning and other large enterprises are busy with O2O, 99% of the O2O companies have generated a great confusion, confused to what extent?
First, represented by Su Ning, we carefully observe Suning’s statements at the end of 2012, the net profit of about 4 billion, the performance is very good.In 2013, she entered the Su Ningyun business and formally announced the operation of Suning O2O.By the end of 2013, about 4 billion of the net profit from the previous year had fallen to 146 million of the net profit, and the net profit fell by 95.5%.Statements in the first half of last year, Suning has lost 7.9 million, no profit, and forecast losses in the second half will be more than 1 billion.
Second, at the end of the report also has a very strange place, Suning’s main business losses of 1 billion, the fourth quarter and put the door doing the innovative business, once again earn back 2 billion, put a lot of financial trust fund financing door, finally through the 5-10 in the form of rent.In 2014, the net profit was more than 4 billion, so it was 285% higher than that of 1.46 in 2013.That from this data, O2O is now a trend in the Chinese go forward with great strength and vigour, whether old or new business enterprises.
Why O2O is so difficult? Thinking it in turn, in China, even in globle has not yet established a real O2O industry chain and the ecological environment of the theoretical system.There is no real rule of refining theory, nor is there enough talent.
The most typical representative, the president of a group has resigned three times, this time 8 million annual salary has been hired for 5 months, no one has successfully applied for. We are envious of the 8 million annual salary, but why no one to apply for, it is because of the lack of talent.
So, for O2O, when the Council opened last night, many vice presidents came up with it: “how will the ICSB China Enterprise Association go in the next five years?” What do you want to do in the future?
Today, give you a clear direction: innovation and entrepreneurship education is a good guide.
Now that O2O is a trend. The trend is coming and I can’t stop it later.
In my WeChat there is a paragraph: O2O is a gold mountain, we all want to go mining. But the gold mountain is surrounded by crocodile ponds, and the pioneers have fallen into the crocodile pond, and they can not move forward or retreat. The only thing right now is to either feed the crocodile and step on the crocodile. Another way to go flat is fill up the crocodile pond. O2O’s intellectual mobility has become a very important subject, but there is no organization in the country to systematically study, the university did not study, and Zhejiang University is more advanced. So I put my team at the Zhejiang University to set up O2O Research Center, hoping to O2O theory system, especially the key research points of the O2O industry chain and the ecological chain, summarize some rules and will establish some rules system, the system finally came out in important positions, job training, and this is our next Step Association under a “Five Year Plan” to do things.
Today’s emphasis is on sharing intellectual motivation.Now, 80% of the economy in the United States is “intellectual economy”, and most of China’s economy consumes resources, whether it be human resources, mineral resources, land resources. So polluted air is more serious, 60% of the crude oil is used in China, 70% of the coal is used by the Chinese people, but we only produce about 10% of the world’s GDP. China has consumed more than 60% of its raw material resources and, at the end, produced only 10% of GDP, which is currently China’s economy.
After we have thought about O2O intelligence, we will start working in these areas.
One is research:
First, O2O’s new business or traditional enterprise O2O transformation, and its industrial chain and ecological system is regularly refined into theoretical system and practical ability, so that it grows better.
Second, intelligence O2O has more than ten key points.
Key points 1 trends are generated by technological change and technological innovations across the globe.
Key point 2 I shared with President Wu to explore and study the O2O strategy.
Last year, he had done some thinking and Research on the O2O strategy. What he studies is how the O2O strategy is positioned under current trends, what tools and tools O2O uses, and the finding strategy of O2O. Like Su Ning, Su Ning is still the output value of private enterprises, it has been 5 to 6 years of about 200 billion output value, but after the Soviet Union, why the development of such a low efficiency?So, we want to do a good job of O2O’s strategy.
Key point 3 Last year I explored the business model of O2O with the teachers at Wuhan University. Because the mobile Internet technology, the most simple example, we also take a knife or stick to the Qing Dynasty acrobatics, western countries took the gun and the gun, if we still use a knife and stick to practicing kung fu training gun or gun aiming and technology, is certainly not, so the business model is not O2O the same.The United States group this year output value should be over one hundred million, but now needs about one hundred million dollars per month to burn money, and finally there is huge net profit, but also can not survive, indicating that the business model has problems.So the business model of O2O is also very important.
Key point 4 Finally, the strategy is determined and the business model is established, and a blueprint is to be designed. Like Fuchun Silicon Valley, the last project before the construction of the construction unit must have a specific construction drawings, construction drawings if not, to Silicon Valley Fuchun built up, who can not be called construction. There are enterprises to do it yourself.
Fifth to eighth key points Like O2O engineering, O2O operations, O2O marketing, O2O management, these have to do their own, after some of these work is completed, so in the brain to move, to train all aspects of talent.In these things there are several key points, Tang Bin is the chairman of the Internet experts, China now has a very large folk organization is thousands of Internet banking will finance the Internet, thousands of enterprises have to melt together, are representative of the young people.Now, Internet banking will be very active thousand people.
There are four very important basic pillars, and the next step is the key point in the whole ecological chain:
First column, big data analysis and application.
The second column, cloud storage, cloud computing, cloud services that we recently with a lot of people discussed, that take the “cloud” is more ideal, it can be calculated, application, storage, eventually called cloud technology”.
Third pillars, Tang Bin has always done “Internet banking”, this is a very important link, because it requires payment, settlement, flow of funds, as well as faster and accurate experience in the transaction process,
Fourth columns, intelligent hardware.
Two is O2O talent training:
Zhejiang University O2O center, the next step will be planning to train these levels of talent.
Top level: the first level is the O2O CEO, which is too difficult and too important.
After the recent Suning cooperation with ALI, Su ningyun began to shake.
Second is chief operating officer of O2O, third is chief director of O2O.
Middle level：There will be O2O architecture, like engineering inside doing renderings, back to do the designer to design drawings, and then go back to some engineers, led to the construction, construction process and supervision team to participate in the call, O2O supervisor, as well as big data, cloud computing division O2O division, O2O division, financial Intelligence Division, this is an important middle management position.
Low level：Such as house electrician, carpenter, steel industry, cement industry, bricklayer, as Taobao does, how to train the students how to make art shop, how to do, how to do promotion, customer service, which requires a lot of talent.
In personnel training will involve these three levels, do some post try, this is more important personnel training of intelligence.
The three is strategic cooperation:
We recently signed a strategic agreement with the Zhejiang University, and EGO in order to work with us on strategy consulting.Because there are a number of new technologies in Zhejiang University, Mr. Zhang is the founder of Hangzhou citizen card, and now he hopes to lead his team to O2O strategy consulting.
Four is the program design:
We now set up a team, the next step to do O2O program design, drawings designed for you.In this case, we hope to cultivate the talents, and in the future he will go to the construction, operation, management and upgrade of his own, which will bring us more successful wishes in intelligence. These ideas will be extended massively at the end of this year and next year. The invitation came in this area is sensitive, or is interested in the field, or a node in the field, in the country are top-notch, including Peking University President Wang Zhijun to do strategic consulting also has a lot of, and in the last year and the year before by consulting the O2O.
But in China, especially O2O intelligence, Wu Dean also said that now are cross-border, integration, and no industry, even after the Internet economy, subversion of your are not your peers. Such as taxi companies, like yuho, has nothing to do with you, never drive a taxi, do not know that it is doing, the future of the Internet economy, finally do not know what kind of person are you in subversion.
In such a social context, the future of O2O is certainly a trend, there are several recent statements. This trend, if you want to land, must become systematic engineering. Since it is a systematic project, every node of the system engineering must be studied very clearly and rationally.Now a large number of projects are burning money, the Internet economy into a disorder, to burn money as a representative of the status quo. This is very bad.Such as the United States mission to the output value of 100 billion, but also burn money. This and the public comment on the merger, the original Jingdong want to buy it, and finally did not talk about. It began to think of the United States and other places melting $500 million, and later did not melt into, and Jingdong did not talk about it, and ultimately with the public comment together.This is also the initial stage, the latter effect is difficult to say, because there is no intellectual support. Now, the trend and the tide in China are terrible. This kind of enterprise works vigorously. As a result, no one studies it, no one gives it intellectual support, and no one offers it a more successful way.
I have a recent experience, but also I will tomorrow in the world business forum on the “O2O success of the six elements.”. These six factors are indispensable, because O2O is much more difficult than ERP in that year. ERP appeared more than 10 years ago, Lenovo is the first to use ERP, but failed; Alibaba first to Haier do O2O, can not say failure, but already can not move. The second is Hangzhou Yintai, also cannot push down.So, in such a case, to some success, and promote the development of O2O, do the theory and wisdom to work more and more to cultivate talents, more to do some business models.
All of you here, yesterday’s discussion was very intense, and there were a lot of things that were never thought of, but we all made a point.I hope the association will have at least two directions in the future. One is innovation and entrepreneurship, and the other is based on Chinese characteristics.
The future of the Internet comes from the United States and other developed countries, but the application of the Internet, China will soon become the first.There is no theoretical basis, then the people here have this obligation and responsibility, and have the desire to practice, research and induction, and finally into the system, in the future to give more guidance.These two directions were discussed yesterday. In 2019, the president of China’s global entrepreneurship wanted to be chinese. China is a big country, and now Chinese innovation more attention than the United States, it is unprecedented, we want to have such a chance to promote, can also bring more people can go out to communicate with learning.We have previously mentioned entrepreneurial seeds, sprouts, seedling, millet theoretical system, first, two, a record, to a theoretical system, creative, innovative and creative theory, three yuan of overlapping Strategic Entrepreneurship theory.I participated in the four annual global conference for four consecutive years, and published four more than half an hour theme paper speech, we still do something.
Because this time the Council is able to communicate the affairs of O2O thoroughly between each other.ICSB-China can do very special, at least intellectually. Practice is an entrepreneur’s business, but we can do more with intellectual support. We are slowly, like Silicon Valley, fuchun.Hangzhou hopes to have O2O project, Qingdao project has completed the bidding work.We also do some practical experiments, not just patting our heads.
First, I took out my old college campus and worked directly on the O2O line. Second is to do O2O intelligence platform, do research, personnel training, strategic consulting, program design. Third is to do O2O ecological platform. I’m close to Director Guo and Tang Bin, because they know more about Internet, finance and big data than I do. I want to invite more companies and senior staff, will build O2O ecological platform, the three platform if it later will have some competitiveness. Because we all know Wanda model is very good, the current vitality of the fragile reason is that in addition to providing physical platform, but there is no intelligence platform, but no ecological platform. We hope that in the future on the matter of O2O, the intelligence platform will be the access point. I hope that there will be better companies to do the service and support the ecological platform. These two platforms support living here, office operations, the future growth and growth, will be better.
Everyone is trying, and this is new, and we are also trying, entrepreneurs eat full, we will work hard forward, as long as the direction is right, we must make good efforts.
Thank you all!Lu Feicheng
The Nanyang Technopreneurship Case Centre (NTCC) has published 25 cases covering Singapore and Global Technopreneurship cases
First established in 2014 with a grant from Singapore’s National Research Foundation and funding support from the Nanyang Technological University, the Nanyang Technopreneurship Case Centre (NTCC) was one of the initiatives of Nanyang Technopreneurship Center (NTC) to enhance the quality of entrepreneurship education through Technopreneurship cases. NTCC is arguably one of the first, if not the first, such dedicated Technopreneurship case centers in the world. In so doing, the NTCC has been instrumental in continuing NTC’s efforts to foster, promote and nurture enterprising mind-sets, skills and knowledge in technopreneurship through education.
We are pleased to release our pioneering batch of 25 cases covering Singapore and Global Technopreneurship cases that are outstanding – at least in their own ways and in the lessons that can be offered.
We recognize that we have not covered all countries nor all important Technopreneurship organisations but hope that these 25 cases will provide an additional source of important Technopreneurship education knowledge which is a primary focus of NTCC
With the kind support from Singapore’s National Research Foundation and the Nanyang Technological University, this has enabled us to share knowledge on a complimentary basis and to learn from each other.
Click on the individual title to download the case study.
Social entrepreneurship is about creating and leading organizations to apply business and management techniques to resolve social problems. Rather than leaving societal issues and needs merely to the government or business sectors, social entrepreneurs take an active role with strong commitment to lead social changes for a better society. This forum aims to facilitate exchange of views by experts from academia and industry to help participants develop a social enterprising mindset and acquire insights for creating value for the society.
“Business is a very beautiful mechanism to solve problems, but we never use it for that purpose. We only use it to make money. It satisfies our selfish interest but not our collective interest.”Muhammad Yunus
Friday, May 12, 2017
2:00pm to 5:00pm (registration starts at 1:30pm)
The Studio @ Yotel New York, 570 Tenth Avenue, New York, NY 10036
If you happen to be in New York on May 12, 2017, you are most welcome to join us at this forum. Kindly refer to the attached EDM for details of the forum.
As the seating capacity is limited, please register your attendance soonest. Feel free to share this information with your friends or associates whom you think might be interested.
We truly hope your schedule will allow you to join us and look forward to seeing you at the forum!
ICSB-Singapore recently held an AGM (Annual General Meeting). At this AGM, the new Executive Committee Members/Officers were elected for the new term (1 April 2017-31 Mar 2019) as follows:
President: Elim Chew
Vice President: Luke Lim
Treasurer: Antonio Tan
Secretary: Chen Fang