Flashback to the 1950s: Elvis Presley had everyone “All Shook Up” with hits like “Heartbreak Hotel,” and Dean Martin serenaded many with “Memories Are Made of This.” It was a time of jukeboxes, rebellious teens, and…dinosaurs? Well, not literally, but let’s come back to that. 

Between the hip-swinging and chart-topping, the decade saw unprecedented leaps in medicine with the first organ transplant and the polio vaccine’s debut. In the same breath (and perhaps with the same visionary spirit that the King of Rock’ n’ Roll brought to music), John McCarthy introduced us to the term “artificial intelligence” at the Dartmouth Conference (read more.)

Now, picture McCarthy, Marvin Minsky, Nathaniel Rochester, and Claude Shannon at Dartmouth in a brainstorming session that might’ve rivaled the brainstorm that led T-Rex to evolve those tiny arms. Yep, you heard it right. Dinosaurs. They’ve got a part to play in this tale.

See, there’s this notion called “Punctuated Equilibrium” in biology. Stephen Jay Gould and Niles Eldredge introduced us to this captivating concept. This theory posits that life typically hums along in a stable rhythm, but now and then, in a twist reminiscent of a surprise guitar solo, it experiences dramatic shifts. Imagine the Earth spinning an unpredictable tune, leading to extinction events like the dinosaurs. This abrupt interlude made way for the rise of small mammals, which, in a crescendo of evolution, eventually set the stage for… well, us.

Techie Time Warp

Parallel to the rock ‘n’ roll revolution, technologies like neural networks quietly evolved, anticipating their breakout moment.

AI: The New Rock Star on the Block

The ’50s weren’t all greasers and milkshakes—it was the beginning of the AI revolution. With this tech trio—algorithms, data, and computing—it was as if the tech world found its rock star, fundamentally transforming industries, including healthcare. Early disease detection via AI? That’s your headlining act!

SMEs: The Breakout Bands

In the great concert of innovation, SMEs are your indie bands. They might not always make the headlines, but they have potential. By jamming with AI, they’re setting new trends, creating unique experiences, and aligning with the beats of the UN SDGs.

Dino-sized example? AI guiding SMEs to cut waste and elevate agricultural yields. It’s not quite a meteoric impact, but it’s shaping ecosystems, just like the aftereffects of our prehistoric friends’ departure.

The Encore: The Future of AI

Being a hit in the AI charts is like trying to maintain a classic song’s popularity—it takes constant reinvention. By syncing with global aims like the UN SDGs, SMEs ensure they’re not one-hit wonders but legends in the making.

Yet, the music world, like AI, demands responsibility. We have to ensure our innovations strike the right chord ethically.

As we navigate the confluence of biology, history, and technology, we’re presented with an unparalleled opportunity and a profound responsibility. The harmonious notes of “We Are the World,” a masterpiece crafted by Michael Jackson and Lionel Richie, remind us of the essence of unity and progress. With the swift rise of AI, we’re adding a fresh verse to our collective anthem of existence. This isn’t merely about ushering in a new era of innovation; it’s an earnest call for mindful stewardship. History’s dramatic shifts, like the abrupt finale of the dinosaurs, offer a poignant lesson: permanence is a myth. As we revel in the brilliance of technology, it’s crucial to strike a harmonious balance, ensuring our advancements don’t overshadow our essence. Let’s not mirror the dinosaurs or their ill-fated destiny; we’ve been blessed with foresight.

So, as we groove into the future, let’s remember the lessons from Elvis, the King, the unsung indie bands, and, yes, even the mighty dinosaurs. Combining rhythm, vision, and adaptability can create a harmonious, world-changing symphony. With the right tools and a chorus of global unity, we must ensure our legacy of sustainability, inclusivity, and vision echoes harmoniously for future generations.

The 2023 SME World Forum will bring together some of the business world’s most inventive and passionate leaders from academia, policy, and the youth sector. The Republic of Azerbaijan’s Small and Medium Business Development Agency will spearhead the event as the principal host. This World Forum is scheduled from November 13 to November 16, 2023, in Baku, Azerbaijan.

The 2023 SME World Forum will bring together some of the business world’s most inventive and passionate leaders from academia, policy, and the youth sector. The Republic of Azerbaijan’s Small and Medium Business Development Agency will spearhead the event as the principal host. This World Forum is scheduled from November 13 to November 16, 2023, in Baku, Azerbaijan.

Submit Your Best Practice: 

SME World Forum: Baku 2023 — Best Practices Exchange

Forum Theme and Objectives:

The SME World Forum’s inaugural will reunite some of the most creative and emphatic world leaders of the business world, policy, academics,s and youth. The Small and Medium Business Development Agency of the Republic of Azerbaijan is the main lead. It will be the primary host, and this World Forum will occur from November 13 to November 16, 2023, in Baku, Azerbaijan.

Host and Venue:

The Small and Medium Business Development Agency of the Republic of Azerbaijan is honored to host this prestigious event. The World Forum will be held from November 13 to November 16, 2023. ICSB is partnering with the Small and Medium Business Development Agency of the Republic of Azerbaijan.

The SME World Forum will target five key segments: Private Sector Companies, Startups, Policy Sector, Academic Sector, Education Sector, and Tourism & Hospitality. With special dedicated sessions on youth and women entrepreneurship:

Why Attend from the Private Sector?

Networking Opportunities: Connect with industry leaders, policymakers, and researchers.
Cutting-edge Insights: Access the latest trends, strategies, and opportunities shaping the SME landscape.
Influence and Collaboration: Play an active role in shaping policies and best practices that impact the SME ecosystem globally.

Why Attend from Policy Sector?

Influence Policy Direction: Engage in critical dialogues with SME leaders, industry experts, and academics, contributing to formulating policies that foster small and medium enterprise growth, innovation, and sustainability.
Collaborate Across Sectors: Build partnerships with the private sector, educators, and legislators, promoting integrated approaches that align public policy with industry needs and societal goals, enhancing the effectiveness of regulations and interventions.
Access Global Perspectives: Gain insights from international thought leaders and policymakers, allowing for a comprehensive understanding of global trends and challenges. This knowledge will inform more effective local and national policy decisions that can drive positive change in the SME landscape.

Why Attend from the Academic Sector?

Interdisciplinary Collaboration: Engage with professionals across various fields, including business, policy, and technology, fostering a rich environment for innovative research and interdisciplinary collaboration that can lead to new academic insights and breakthroughs.

Real-World Impact: Connect with practitioners in the SME sector to understand real-world challenges and opportunities, guiding research focus toward practical applications that can have tangible impacts on small and medium-sized enterprises.

Global Perspectives on SMEs: Participate in discussions and workshops led by international experts to gain a comprehensive understanding of global trends, regional variations, and cultural influences on SMEs, enriching your research and teaching methods with diverse and inclusive perspectives

Why Attend as Tourism & Hospitality Expert:

Industry Insights and Trends: Discover the latest trends, technologies, and innovative practices shaping the tourism and hospitality industry. Gain insights into consumer behavior and preferences, sustainability initiatives, and the role of SMEs in driving economic recovery and growth.
Networking Opportunities: Connect with industry leaders, entrepreneurs, policymakers, and academics specializing in tourism and hospitality. Engaging in meaningful conversations can lead to partnerships, collaborations, and new business opportunities.

Skill Development and Knowledge Sharing: Attend workshops, seminars, and panel discussions led by experts in the field. Enhance your professional skills, learn about best practices, and contribute your experiences and insights to shape the future of tourism and hospitality in a world increasingly influenced by SMEs.

Why Attend as Women & Youth:

Empowerment and Inclusion: Explore initiatives and strategies to empower women and youth in business. Understand how SMEs are providing platforms for gender equality and youth involvement, and learn how you can contribute to these efforts.

Entrepreneurial Development: Gain insights into entrepreneurial opportunities tailored to women and young entrepreneurs. Learn from successful women and youth-led SMEs, and get inspired to launch or grow your venture.

Networking with Like-minded Individuals: Connect with women and youth leading the way in various industries. Build a network that can offer support, mentorship, and collaboration, all vital for personal and professional growth.

Education and Skill Enhancement: Participate in workshops and training sessions designed to enhance skills and knowledge relevant to women and youth in business. Benefit from personalized learning paths that align with your career goals.

Voice and Impact: Have your voice heard on issues directly impacting women and youth in the business environment. Engage with policy-makers, industry leaders, and academics to contribute your perspective and potentially influence the policies and practices that shape the future for women and youth in SMEs.

Recent continued events have shaken the academic community’s foundations, leading us to a decisive crossroads. The reported severe charges of data falsification leveled against Professor Gino from Harvard University and the resignation of Dr. Tessier-Lavigne as President of Stanford University due to reported flaws in his research highlight the imperative for rigorous ethical guidelines and exhaustive examination procedures in the research community.

We are facing a scenario characterized by Herman Aguinis as an “irresponsible research perfect storm.”  Invoking an analogy with the film ‘The Perfect Storm,’ Dr. Agunis predicted and sounded an alarm concerning imminent threats that could devastate the management field. His open-source paper https://lnkd.in/ee6-_b2S stated this.

So, what do we do?

Our Response as Journal Leaders

As Editors in Chief of JSBM and JICSB and integral members of the leadership teams of Jeffrey Alves (Editor of JICSB), Katia Passerini (Interim President of Seton Hall), Eric Liguori, Head of the School of Innovation and Entrepreneurship at Rowan University, we are monitoring these developments. Actively engaging with the academic community and liaising with our publisher, Taylor & Francis Group, we acknowledge the necessity to confront these issues and preserve the integrity of scholarly work.

I recommended that our team devise plans that focus on the following:

#1: Enhancing Transparency: By encouraging more open data reporting, we aim to make study findings universally accessible, thus reinstating confidence in academic research.

#2: Leveraging Technology: We intend to harness technology to simplify research data access, narrowing the divide between researchers and the broader readership.

#3: Celebrating Trial and Error: In acknowledging that research is a process of discovery and growth, we honor both success and failure, promoting a balanced perspective that values innovative findings and insightful questions leading to unexpected outcomes.

Conclusion

As distinguished scholars gather at esteemed venues such as AOM in Boston and ICSB this week, our cooperative, human-centered approach lays the foundation for a transformative era in academic research.

As my esteemed colleague, Dr. Winslow Sargeant, Immediate Past Chair of ICSB, succinctly articulated, ‘ We need a paradigm shift in how research is done and classified.’ This profound insight captures the essence of our mission and emphasizes the critical necessity for a transformative approach.’

I end it with a quote from Albert Einstein “The important thing is not to stop questioning. Curiosity has its reason for existence.”

May our academic community persist in its quest for knowledge, exploration, and the pursuit of truth and excellence.

by: Ayman ElTarabishy
Editor-in-Chief of JSBM
President & CEO, ICSB

The United Nations Micro, Small, and Medium-sized Enterprises (MSMEs) Day is an annual event celebrated on June 27th. The day was created to recognize MSMEs’ critical role in driving economic growth and creating jobs worldwide. In addition, it is an opportunity to raise awareness about the challenges MSMEs face and encourage governments, policymakers, and stakeholders to take action to support them.

MSMEs are the backbone of many economies, providing employment and contributing to GDP. However, they often face significant challenges like limited finance, markets, and technology access. Therefore, supporting MSMEs is crucial to creating a more inclusive and sustainable global economy.

In collaboration with Argentina, the International Council for Small Business (ICSB) created the UN MSMEs Day. In 2017, the ICSB proposed the idea of a dedicated day to recognize the contribution of MSMEs and the challenges they face. The UN General Assembly adopted the proposal in April 2017, and since then, the day has been celebrated annually on June 27th. Dr. Ayman ElTarabishy, President & CEO of ICSB and Deputy Chair of the Department of Management at the George Washington University School of Business proposed the idea.

ICSB continues to play a crucial role in promoting policies and initiatives that support MSMEs. As a global organization dedicated to advancing entrepreneurship and small business, the ICSB works closely with governments, academia, and industry to identify and address the needs of MSMEs. Through its research, advocacy, and education efforts, the ICSB is helping to create a more supportive environment for MSMEs worldwide.

The UN MSMEs Day is a significant opportunity to highlight the challenges that MSMEs face and call attention to the need for policies and programs that support their growth and development. Here are some examples of initiatives from around the world that are working to support MSMEs:

South Africa’s National Small Business Act: The South African government has implemented various policies and programs to support MSMEs, including the National Small Business Act, which aims to create a supportive regulatory environment for small businesses. The Act provides for establishing a Small Business Council, which advises the government on policies and initiatives to support small businesses.

India’s Startup India program: In 2016, the Indian government launched the Startup India program to promote entrepreneurship and innovation. The program offers a range of incentives and support, including tax breaks, funding, and mentorship, to help startups and MSMEs grow and succeed.

Germany’s Mittelstand: Germany’s “Mittelstand” refers to the country’s network of small and medium-sized enterprises, which are the backbone of the country’s economy. The German government has implemented various policies to support the Mittelstand, including access to finance, education, training, and research and innovation support.

United States Small Business Administration (SBA): The SBA is a US government agency that supports small businesses through loans, training, and counseling services. The SBA also advocates for small businesses at the national level, ensuring that policies and regulations support small business growth and development.

These are just a few examples of the many initiatives and programs worldwide that are working to support MSMEs. The UN MSMEs Day provides a valuable opportunity to showcase these initiatives and to encourage governments and stakeholders to do more to help small businesses.

South Korea’s economic growth since the 1960s has been remarkable, transforming from a low-income agrarian society to a thriving, high-income industrialized economy. Research has shown that government policies played a crucial role in this transformation, mainly through strategic investments in physical and human capital and export promotion strategies. In addition, a focus on technological research and development helped to create a competitive advantage in the export market and cultivate a highly educated workforce.

Entrepreneurship has a complex history in South Korea, with cultural values and traditions significantly shaping the country’s entrepreneurial landscape. Confucianism, a religion and philosophy emphasizing education, hard work, and community loyalty, has been a driving force behind South Korea’s cultural value system and has influenced its society for generations. Despite this, there has been relatively little research on the connection between cultural context and entrepreneurship in South Korea.

However, a new academic paper to be published in July 2023 by the International Council for Small Business (ICSB) seeks to address this gap in our understanding. The paper will explore the historical evolution of Korean entrepreneurship, focusing on the role of Jo Shik, a renowned Confucian scholar during the Joseon dynasty, and the city of Jinju in South Korea. The authors argue that these factors were instrumental in shaping the development of Korean entrepreneurship and that understanding their influence is crucial for understanding the country’s entrepreneurial landscape today. 

This paper will be the first academic publication on the history of Korean entrepreneurship in Confucian culture to be published in a Western academic journal. It promises to shed new light on this fascinating topic.

Evans, P., & Rauch, J. (1999). Bureaucracy and growth: A cross-national analysis of the effects of “Weberian” state structures on economic growth. American Sociological Review, 64(5), 748-765.

Rhee, J., Park, T., & Lee, D. H. (2010). Drivers of innovativeness and performance for innovative SMEs in South Korea: Mediation of learning orientation. Technovation, 30(1), 65-75. https://doi.org/10.1016/j.technovation.2009.04.008.

Artificial Intelligence (AI) has revolutionized how we learn and access information. However, it is crucial to create a supportive learning environment where students feel comfortable asking questions and seeking guidance on how to use AI-powered tools effectively. Faculty should support students using AI through the Socratic method and video-based learning.

The Socratic method is a teaching method that encourages critical thinking and active engagement. The technique involves asking questions to stimulate students’ thinking and help them develop their ideas. In a Socratic classroom, the teacher guides the discussion and encourages students to explore ideas and challenge assumptions.

Using ChatGPT as an example, a teacher can use the Socratic method to engage students in a discussion about the information generated by the tool. For instance, a teacher could ask the students to develop a prompt and then tell ChatGPT to create a response. Afterward, the teacher could ask the students to analyze the response and evaluate its accuracy, reliability, and relevance. The teacher could then ask follow-up questions to help students understand the context and meaning of the answer.

Video-based learning, on the other hand, leverages multimedia content to enhance the learning experience. Videos can supplement lectures and give students a more engaging and interactive learning experience. Teachers can use videos to explain complex concepts, provide real-world examples, and offer visual aids that support learning.

It is common for students to feel apprehensive about using AI-powered tools such as ChatGPT, especially when they are unsure about how to use them correctly. However, instead of punishing students for using these tools, educators should teach them how to use them correctly and ethically. In addition, students should learn the importance of referencing and citing sources using AI-generated content. By doing so, we can help students develop critical thinking skills and encourage them to engage with technology responsibly and ethically.

In conclusion, AI is a powerful tool that has the potential to transform the way we learn and access information. Faculty should support students using AI through the Socratic method and video-based learning. The Socratic method can encourage critical thinking and active engagement, while video-based learning can provide students with a more engaging and interactive learning experience. By teaching students how to use AI-powered tools such as ChatGPT correctly and ethically, we can help them develop critical thinking skills and use technology to enhance their learning and growth.

by: Ayman ElTarabishy, President & CEO, ICSB
Deputy Chair, Department of Management, GWSB