The Origins of the term Sustainable Development

Sep 19, 2020 | reflections, The Latest

The Origins of the term Sustainable Development

Saturday, September 19, 2020, by Ayman El Tarabishy

We have imagined tomorrow’s world. It is a world that celebrates and nurtures the essential diversity of life, cultures, and peoples.

In declaring an end to the status quo, we are simultaneously admitting and choosing to move towards sustainability, human-focused efforts, and ecological endeavors that uplift the human-Earth symbiotic relationship. In our efforts to seek sustainable efforts and to foster sustainable practices within and throughout entrepreneurship, we must first define the term, so that we can more greatly embody its cyclical, caring, and forward-focused nature.

On an unassuming day in November 1998, in Fontainebleau, 25 miles outside Paris, one of the most significant environmental conferences of the 20th century was finding its conclusion. During the previous three days, 350 inspired leaders, policymakers, and scientists from around the world had gathered to celebrate the 50th Anniversary of the International Union for Conservation of Nature (IUCN) and to reflect on the organization’s historic achievements since its founding in 1948. During the conference, however, rather than focus solely on past successes, IUCN positioned itself as a visionary among conservation organizations by bringing attention to the future under the theme of “Imagine Tomorrow’s World.” In doing this, IUCN laid the foundations of the developing concept and understanding of the “Ecozoic Era,” a period of enhanced human-Earth symbiosis beginning at the commencement of the 2nd millennium and continuing into the present day.

The commemoration’s concluding “Appel de Fontaintainebleau,” or the Fontainebleau Challenge reflected the tripartite attention of the organization: human consumption, ecological conservation, and our interdependent communities. In their universal appeal to the attending chiefs of state, IUCN declared:

We have imagined tomorrow’s world. It is a world that celebrates and nurtures the essential diversity of life, cultures, and peoples. It is a world in which we will embrace a new environmental ethic that recognizes that without nature, there is no happiness, no tranquility, no life…Our challenge is not just to imagine, but to build a world that values and conserves nature and that is confident in its commitment to equity.[1]

IUCN’s historic challenge to its members established an organizational philosophy of connectedness between humans and the earth and, thus, ushered in an enhanced understanding of sustainable development. Out of many heads of state in attendance, the commitment of the French government, specifically, to bridge conservation initiatives with sustainable ecological management was cemented through the attendance of Jacques Chirac, the French President (1995–2007). President Chirac gave opening remarks at the conference, and the French Prime Minister, Lionel Jospin (1997–2002), concluded the event with an endorsement of the ICUN’s work.

Amongst all of the speeches and remarks were given by key world and environmental leaders, the history-altering moment was surprisingly mentioned as an off-hand comment during a reception and tour of the National Museum of Natural History in Paris. In his welcoming remarks, Henry de Lumley, former Director of the Museum from 1994–1999, mentioned the term “development durable,” meaning sustainable or resilient development, which happened first to be used at the Museum 1920s. The employment of this term came as a surprise.

Those who participated throughout the preparatory process for the 1992 United Nations Conference on Environment and Development, or the so-called “Earth Summit,” in Rio de Janeiro had assumed that the term originated from the Brundtland Commission in the 1980s. By 1983, the UN had documented growing worldwide environmental degradation over the previous ten years, affecting both human and natural resources. Out of a need to rally UN countries to commit to unified preventative actions against a worsening environment, the UN established the World Commission on Environment and Development, which ultimately became known as the Brundtland Commission, to recognize former Prime Minister of Norway Gro Harlem Brundtland’s role as Commission Chair. During the next four years, the Commission documented, analyzed, and formulated action plans to tackle environmental challenges, culminating in the publication of a landmark report in 1987, titled Our Common Future. Through the report, the term “sustainable development” became an accepted term in the international development lexicon. An oft-used definition taken from the report defines sustainable development as “a process of change in which the exploitation of resources, the direction of investments, the orientation of technological development, and institutional change are made consistent with future as well as present needs.”[2]

Our Common Future fundamentally changed the way development work was both engaged with and experienced. By pivoting the focus of development from isolated economic actions to a holistic process, the needs of the present community — both human and other — are met “without compromising the ability of future generations to meet their own needs.”[3] Through research, it has not been able to find any proof to validate Director de Lumley’s reference to the term sustainable development dating back to the 1920s. However, his statement has permanently imprinted itself into the minds of many due to the remarks singular importance spoken in the exact place that demonstrates how natural and human worlds can appropriately exist together.

The National Museum of Natural History serves as a place that, compellingly, draws us back through millennia while simultaneously propelling us into the future. With its unique ability to communicate publicly through its exhibits, the National Museum of Natural History allows visitors to understand how we, humans, developed as a species on earth, tracing the origins of life and our development as a species from the Cenozoic, Mesozoic, and Paleozoic eras into the present day. In drawing these connections, visitors can understand our intrinsic connection to the world around us and the cosmos, while realizing that we have entered a new era: the “Ecozoic Era” as coined by Thomas Berry, a cultural historian, in his 1989 book The Universe Story, co-written with Brian Swimme. The “Ecozoic Era” can best be described as the “geologic era in which humans live in a mutually enhancing relationship with Earth and the Earth community.”[4]

Berry’s writings, ruminating on humanity’s relationship to the natural world, were provoked mainly by the environmental crises he witnessed during his lifetime in the 20th century. He urged his fellow humans to recognize their unique position on a planet within a vast and complex ecosystem and evolving universe. A quote from The University Story best represents his philosophy, “The world is a communion of subjects, not a collection of objects.”[5] Berry’s philosophy aligned closely with the Brundtland Commission’s model of sustainable development in that it recognized the mutually entangled benefits of ecological conservation to environmental and human populations.

Barry’s sustainable philosophy was deeply influenced by the teachings of Pierre Teilhard de Chardin, a French philosopher, geologist, and Jesuit Catholic priest. They theorized the relationship and evolutionary development of both the material and the spiritual world. While Teilhard’s writings were rooted in his greater belief in a divine presence, his various works became, after his death in 1955, a catalyst for developing the concept of the interlinking enhancement of humanity, the natural world, and the cosmos as a whole. A key component of Teilhard’s work was the notion of the noosphere, which he envisioned as a body of knowledge, human consciousness, or mental activity surrounding the earth, similar to the atmosphere, which worked to influence the biosphere and to continue its evolution. This concept has origins in the research of biogeochemist Vladimir Vernadsky; however, it differs in that Teilhard’s understanding of the noosphere stems from theology rather than science.

While initially considered to be a new age theory by established scientists, the creation of the Internet, which so to speak, surrounds the globe with a body of knowledge, as well as the more recent research connecting human ecosystems to the human impact on the biosphere has led to renewed interest in the noosphere theory. Despite its scientific flaws, it is clear that Teilhard’s early emphasis on sustainability and desire to find harmony between human and biological actions is critical to our current understanding of sustainable development.

Since Teilhard’s earliest philosophical writings, we have come full circle as a society in confirming the interconnected nature of humans and the world around us and the need for heightened development of sustainability. Being reminded of that memorable statement, made almost 22 years ago, in a setting that took usback through geologic eras and forwards into our present and ever-developing civilization, we are hopeful. We only now realize the significance of the National Museum in Paris, the Ecozoic era, and our collective understanding of “resilient and sustainable development.” In a time of pandemic and uncertainty, the idea of a shared future and harmony between humanity and nature brings hope and resolve to carry forward through our efforts towards sustainable development.

In the realm of entrepreneurship specifically, then, where does this leave us? As we walked through the overwhelming chaos and left the status quo behind, we made the decision, intentionally or unintentionally, to choose the path of the human. This is not mistaken as something that ignores our surrounding nature, but rather human-centered entrepreneurship is sustainable development. When the earth is cared for and respected, the human population becomes healthier, more active, and more empowered to make a further change for their species and others. It is the practice of Humane Entrepreneurship, which will one day transition from company culture to a global, cultural force that ensures both inputs and outcomes are grounded in sustainable ways. From the care of the environment and attention to the ozone to ensuring adequate standards for food quality and equitable opportunity for all, Humane Entrepreneurship is the vessel that will carry us into our sustainable world.

As we prepare for the upcoming 2021 ICSB World Congress in Paris, we are focusing on moving beyond Humane Entrepreneurship as a concept to be discussed but as one to be practiced. By making the conference exceptionally inclusive, we will share and learn how organizations are acting sustainably and how we, as a community, can act as a resource for small businesses and entrepreneurs around the world to implement and advance in their practice of Humane Entrepreneurship to nurture a sustainable and more resilient environment for all.

article by:

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

Mr. Richard Jordan. Founder & Co-CEO of World Harmony Foundation

[1] “Annual Report IUCN 1998,” IUCN, 17.

[2] “Our Common Future,” World Commission on Environment and Development, 9.

[3] Ibid, 8.

[4] Allysyn Kiplinger, “What does Ecozoic mean?” The Ecozoic Times. 16 Sept 2020. https://ecozoictimes.com/what-is-the-ecozoic/what-does-ecozoic-mean/#:~:text=The%20term%20%E2%80%9CEcozoic%20era%E2%80%9D%20was,Earth%20and%20the%20Earth%20community.

[5] Brian Swimme and Thomas Berry, The Universe Story: From the Primordial Flaring Forth to the Ecozoic Era — A Celebration of the Unfolding of the Cosmos (New York: HarperCollins, 1989), 243.

Usa globe resting in a forest - environment concept

Intelligence in the Birds’ Nests: Why Humane Entrepreneurship is the Future

Sep 16, 2020 | The Latest

Intelligence in the Birds’ Nests: Why Humane Entrepreneurship is the Future

Wednesday, September 16, 2020, by Dr. Nasiru Taura

As we move into our digital future, we, as a global community, are experiencing unprecedented levels of activity as well as a simultaneous rise in the average person’s uncertainty of their environment. These have been intensified by the fast-paced environments that we have created to shape and nurture future entrepreneurs. The rise in mental health struggles for entrepreneurs and our harmful effect on the environment suggest that this fast-paced environment in which we have sought to nurture entrepreneurial talents is in no way sustainable. During a recent ICSB Knowledge Exchange webinar, Dr. Taura presented his futuristic vision of a digital revolution which includes humane entrepreneurship.

He started with a personal story about how his childhood struggles, involving his slower learning in a world designed for those with cognitive speed, had evoked negative emotions. Understanding the dangers of negative emotions for young people, Dr. Taura found much comfort in his birds’ nest, or collection of African birds. As a child growing up in Nigeria, he would often escape to his birds for hours while engaging in contemplative imagination about mankind, the universe, and society. His birds’ nests became a therapeutic space to release negative energy. Therefore, in spending time in this setting, the birds nest became the initial bed rock, or foundation, for nurturing his emotional intelligence, compassion, and empathy, which he continues to use in his entrepreneurship teaching on a global stage. Today, Dr. Taura reflects and ask the question, “Were would he have been today if he had not found the alternate intelligence in the birds nest?,” or even more importantly, “How many more slow learners could have been great assets to the entrepreneurial world by engaging their thoughtful reflection and empathy, but have been lost within a system designed solely for cognitive speed?” It is time to re-think our approach. If we want a future, we need to engage a more inclusive and humane approach.

Slow is ‘NOT’ unintelligent:

Despite struggles of slow learning in childhood, Dr. Taura is now a Senior Lecturer of Entrepreneurship and Innovation at Bournemouth University in the UK. Bournemouth University is an exciting institution as it embodies digital futures and is particularly celebrated for computer animation and digital effects as well as acting as the home to the famous National Centre for Computer Animation (NCCA).

Over 50 BU graduates, as well as a number of staff members, worked on the Oscar-winning film Gravity. Currently, Bournemouth is launching a course on MSC Artificial Intelligence and Media. These provide definite examples that demonstrate cutting-edge digital futures for learning. As a senior academic, digital entrepreneur, and social innovator, Dr. Taura is, today, the living proof that slow does not equate to unintelligent.

Moving into the digital futures, Dr. Taura advised that games and animations could play key roles in providing immersive experiences that would enable youths to learn to be humane entrepreneurs. The games would emphasize crossover, so that when young people were outside of their virtual worlds, they would still be able to engage these important skills.

We seem to be competing in the wrong spaces of intelligence

With the explosion of the application of Artificial Intelligence (AI) in all works of life, we must revisit the on-going debate between human and artificial intelligences. It is clear that, given the immense data available, machines outperform humans–humans only stand a chance against machines when data is incomplete.

We are making the mistake of attempting to compete with machines in wrong spaces, or in other words, we will consistently lose to machines in the test of time and speed, however human insight can be captured on a more humane front, including emotional, social, and cultural intelligences. AI is enabling start-ups around the world, especially those in Africa, to achieve great results – beyond human speed. For example, to achieve 90% reliability in plant disease diagnosis, the Plant Clinic, a Cameroonian start-up, would need to use between 5000-6000 thousand images to identify a disease. However, with the support of a laboratory in the United States, they have now been able to create a database containing more than 60,000 thousand images of various plant diseases.

Komazo, a Kenyan start-up uses AI and satellite data to map out tree growth. This has led to a truly revolutionary approach to sustainable forestry, and now the start-up is focusing its ambitions to plant 1 billion trees by 2030. Rwanda is one of the pioneer countries to deploy the use of drones for the purpose of humanitarian logistics and supply chain, engaging drones specifically to air lift medical supplies to the needy, thereby being able to save lives thanks to the speed of machines. There is no doubt that the speed of machines outperforms humans, but humans have something to offer which machines are lacking: empathy.

We are looking to a future with robotic doctors, robotic financial managers and advisors, and robotic lawyers. It is essential that we train the next generation of entrepreneurs by providing them opportunities to nurture their emotional, social, and cultural intelligence. These represent the spaces in which machines are not able to establish connections as effectively.

Going forward, we should learn from the non-expert account of intelligence among rural Kenyans which is said to have comprised of rieko (knowledge and skills), luoro (respect), winjo (comprehension to handle real-life problems), and paro (initiative). Intelligence based on cognitive speed without rieko, respect to fellow humans, animals, and planet earth, is counterproductive. Additionally, it is unlikely, for an AI to be able to outperform human initiative (paro). Our future depends more on how we train the next generations to be ‘humane’ which will necessitate the ability to respect, initiate, and empathize with fellow humans, animals, and the environment.

Reverse migration to slow spaces could be the future

Entrepreneurs working in a fast-paced environment, those who are redefining, disrupting and innovating on a continual basis, might be a higher risk for poor mental health and stress. Consequently, we are witnessing a silent revolution of reverse migration from city centers to their peripheral regions, which is ultimately giving rise to the slow entrepreneurship in the periphery.

Digital connectivity and the rise of gig economy are fueling the increased attraction of working and living in seaside towns for the benefits of ‘time’ and ‘space’ needed to nourish the creative soul. More and more entrepreneurs in search of a humane atmosphere and lifestyle are beginning to move to the periphery to enjoy balanced sustainable growth and preventative approaches to wellbeing, which has given this rise to peripheral entrepreneurship.

For their health and mental wellbeing entrepreneurs need more than the lifestyle available to them in a crowded city. They also need space to help them manage and regulate their emotions, prevent against cognitive decline, and give the necessary attention to their mental health as seen in a well-balanced work-life relationship. Seaside towns offer the opportunity for this balance and harmony of physical, emotional, cognitive, and mental spaces across a given ecosystem and are, therefore, more likely to be a magnate for humane entrepreneurs of the future. They provide opportunities for entrepreneurs to disconnect from the fast-paced lifestyle and to diffuse stress while connecting with nature. For example, the Bournemouth & Poole digital cluster in the South West of England attracts frequent digital innovators, those who produce economic value with less environmental pressure. We are likely to see the emergence of more digital cluster of health-conscious entrepreneurs, social/impact investors, and imaginative spaces for nurturing frequent innovations. In the wake of the need to be more humane, we can expect to see more reverse migrations taking place from center to periphery.

Future humane entrepreneurs and the need for more patient capital

We are beginning to witness the rise of impact and social investors who are often mission driven, concerned by a desire to alleviate poverty, minimize environmental impacts, etc. Their decisions to invest is not limited to financial return, but rather it encompasses social and/or environmental returns. They accept making fewer returns in the short run with their focus on impact investments, meaning that they scale faster. Digital entrepreneurs who are slow but intelligent would prefer patient capital as it enables them to focus on solving the world’s biggest challenges with less pressure of immediate ROI from investors. Impatient investment leads to burnout and often mental strain for entrepreneurs. We need to encourage more patient capital to support future humane entrepreneurs.

Humane Entrepreneurship & the Future

The ICSB has championed the movement of humane entrepreneurship. It is still in its early days, but the concept is very promising and is in line with the United Nations Sustainable Development Goals agenda. Dr. Taura advocates for slow entrepreneurship, which is more humane, explained through its platform, the PAICA Global (https://paica.info/about/). Dr. Taura argues that the future is for humane entrepreneurs who use the application of technology (AI, games, simulation, etc.) for social good. To this extent, we can utilize our humane intelligence; instead of relying solely on cognitive speed as our yardstick of intelligence, the future will be restored.

We need to nurture inclusive intelligence for humane entrepreneurs of the future, regardless of where this forming might take place. A future were slow entrepreneurship manifests in the periphery, such as seaside towns, where capital can become more patient and the application of technology for social good is pervasive is a world worthy of our aspirations.

10 Reasons Why Every High Schooler Should Launch a Business

Sep 15, 2020 | The Latest, Youth

10 Reasons Why Every High Schooler Should Launch a Business

Tuesday, September 15, 2020, by Jenna Winocur

Do you often feel overwhelmed by choosing a college or even a path of study? Much of what you do in high school will shape your career interests and help you determine your major. Too many students will discover too late, however, that their chosen college major may not be for them. High school is the perfect opportunity to experiment with many different skills and find which ones invigorate or drain you. While some high school clubs might give you this chance, none of them can compare to launching a startup. Here are 10 reasons why every high schooler should launch a startup.

1. Entrepreneurship teaches a new way of thinking

Trying to find a real problem for a real customer requires empathy, a great skill to have in many aspects of your life. A startup is a perfect way to hone this skill.

2. Launching a business means being creative

Entrepreneurship will give you the opportunity to become more creative and build this strength!

3. Know how to problem solve

Entrepreneurship will provide you with the tools to problem solve no matter what problem you find yourself facing.

4. Invest in yourself

No matter what the outcome of your startup, you will notice the impact you’ve made on yourself simply by going through the entrepreneurial process.

5. Flexible hours during a busy high school schedule

Regardless of how busy you may already be because of classes and extracurriculars, you can almost always find time to pursue a startup if you are willing to hustle and make it happen.

6. Overcome failure with ease

When you inevitably encounter failure in a college or professional setting, if you can quickly learn from that failure and get back up on your feet, you will stand out among your peers.

7. Gain life advice from a mentor

While mentors are vital to the growth of your startup, they can also give you excellent insights into yourself.

8. Build a personal brand

Starting a business will give you a level of credibility that is unmatched by almost any other high school experience.

9. Have a great story to tell

Regardless of if your startup fails or succeeds, you will have an amazing story to tell during future interviews.

10. Change the world

If you want to make a meaningful, sustainable, and scalable impact on a social cause or issue you care about entrepreneurship may be perfect for you.

Life Changing School is a virtual high school program founded and run by Cornell University members and entrepreneurs. In LCS you will learn everything you need to know to build a sustainable startup focused on social impact. You could even begin making money by the end of the program! You will gain skills such as design thinking, creativity, adaptability, communication, leadership, and so much more. You will go through the customer discovery process and the Build Measure Learn feedback loop. You’ll receive world-class mentorship and get access to Q&A with some of the industry’s leading minds. At the end of six weeks, you will pitch your final product to a panel of expert judges. Building a startup provides you with the most powerful experience you can speak to for college applications or future interviews. You will overcome challenges and create something of value. LCS provides a rigorous entrepreneurship curriculum and startup incubator to high school students from anywhere in the world with no prior experience required. Register today using code: LCSOCT4 to receive $100 off of the program!

Democratization of Knowledge

Sep 12, 2020 | reflections, The Latest

Democratization of Knowledge

Saturday, September 12, 2020, by Dr.Ayman El Tarabishy and Dr. Elias Carayannis

“Until philosophers are kings, or the kings and princes of this world have the spirit and power of philosophy… cities will never have rest from their evils — no, nor the human race as I believe…” (Plato)

As theory grows and develops in its ability to encompass the more greatly faceted institutional pillars of Government, University, Industry, Civil Society, and the Environment, we can imagine how our movement from the information age to the humane age provides the world even more excellent opportunities than before. People are no longer left responsible for the choice between human-focused work and progress, but rather our society is taking the necessary steps to change our perspectives to see how the invitation of technology will quickly lead to a more human-centric society. The concept of Quadruple and Quintuple Helix Innovation systems offers us a systemic perspective for knowledge and innovation, meaning that we can use the model of these institutional pillars to see knowledge and innovation in an entirely new light that allows humans to both feel enabled and empowered by technology to more fully act as democratic agents in the greater society.

This theory, which demonstrates balance amongst the major world systems, allows for new modes of profit by the way that creativity thrives on helping with the interaction and synergies between innovation, entrepreneurship, and design thinking. Therefore, one action informs the next. Through this approach, we can “adopt a much more complex approach to considering our surroundings and dealing with challenges” (Carayannis, 2020). In broader terms, each pillar or facet of the model allows for more advanced opportunities in knowledge and innovation, which beholds the possibility to completely alter how we participate and embody the subsequent usage of power coming from this participation.

Democracy and our empowered participation in it are said to be a “requirement for the further evolution of knowledge and democracy,” demonstrating that we will not progress or succeed in our ability to reimage a better application of knowledge and democracy until we accept the requirement of our full participation in our current forms of knowledge and democracy. Yet, if we can maximize the interfaces and intersections between the pillars of the Quintuple Helix theory, then we might be able to introduce an expansion of the Democratization of Knowledge to attain Society 5.0 ultimately.

This unique opportunity will allow for the spread of knowledge to reach unprecedented levels, migrating to a system with which everyone has full access to knowledge and, therefore, revealing a populace who is empowered and liberated to participate in creating a better world for themselves. As mentioned above, this transition will not come until we activate this participation in our current systems, leading those to demand the dissemination of knowledge to further limits at this moment. Once everyone has access to the knowledge — and the societal hierarchy that decides who has access to which information is abolished — people will have equal access to the very knowledge that will help them create real and actionable solutions for the world. By engaging with the knowledge available in this technocentric age, we will initiate a workforce transition, meaning that the widespread usage of technology will transform jobs rather than replace the employment of human beings. This will provide an entirely new and important platform from which humans can begin making innovative and creative decisions to facilitate the care for the human person and our surrounding environment.

Dr. Elias Carayannis foresees a world in which we embody Society 5.0, where:

“Every project… should always have the quintuple helix in mind when calling for proposals; all projects should have our common good as the foremost goal. We should, therefore, always ask ourselves how does this project supports democracy and protect the environment, and that is a Quadruple and Quintuple Innovation Helix framework thinking approach to policy and practice” (Carayannis, 2020).

The migration towards the democratization of knowledge and the subsequent collaboration with technology will offer an unbelievable opportunity to look clearly at society as it is and begin changing our chosen “either/or” approach to one that allows for “both/and.” In pursuing more powerful platforms to engage with the democratization of knowledge, we will all become enablers, participants, and protectors of a democratic world. With democracy, we will be able to create solutions to the missing pieces throughout the complex issues that plague our world today. Let us all be active participants in creating a next level society that finds the humane by engaging with tech solution advances for our collective future.

Article by:

Dr. Ayman El Tarabishy and Dr. Elias Carayannis
President & CEO, ICSB
Deputy Chair, Department of Management, GW School of Business
Editor in Chief of the Journal of Small Business Management (JSBM)

Dr. Elias Carayannis, Full Professor of Science, Technology, Innovation, and Entrepreneurship, as well as co-Founder and co-Director of the Global and Entrepreneurial Finance Research Institute (GEFRI) and Director of Research on Science, Technology, Innovation and Entrepreneurship, European Union Research Center, (EURC) at the School of Business of the George Washington University in Washington, DC.

References:

Carayannis, E. (2020). Research Reconfiguring and Innovation Constellations. Personal interview [European Union’s Horizon]. Available at http://riconfigure.eu/wp-content/uploads/2020/01/Interview-with-Elias-Carayannis_2020_Final.pdf

Reference video: The Ecosystem as Helix: Towards Industry and Society 5.0 via the Quadruple/Quintuple Innovation Helix Lens. Featuring Dr. Elias Carayannis:

It is Not Just About the Money

Sep 7, 2020 | The Latest

It is Not Just About the Money

Monday, September 7, 2020, by Andrew McDonald

It is Not Just About the Money

Monday, September 7, 2020, by Andrew McDonald

In continuing our conversation about the practical ways in which we can enact change for MSMEs globally, we will begin highlighting a spotlight piece every week from our journals, JICSB and JSBM. This week we are looking at JICSB.

Andrew McDonald, Chair, Small Business Investment Committee, the European Bank for Reconstruction and Development (EBRD) is featured in the first issue of the Journal of the International Council for Small Business (JICSB). The article, titled “It’s not just about the money,” speaks to the great truth of compounding factors that keep MSMEs from success. In his article, McDonald discussed the following as recommendations (directly from the article) for policy interventions that could aid MSMEs in overcoming the environmental challenges placed on them:

Business advice programs need to be developed to train local professionals to assist them in developing into local consultants.

Nations must develop and improve their regulatory frameworks and introduce targeted policies to support fintech and promote different initiatives. Therefore, a strengthened ecosystem removes barriers to accessing finance, provides improved capacity for both public and private institutions to serve SMEs, and ultimately provides platform advocacy for SMEs; this leads to better policies and regulatory support, stronger institutions, and improved market effectiveness.

In emerging economies, the role of local banks is important. Still, it is often supported and supplemented by the international financial institutions (IFIs) who use the local bank to deliver focused programs that help address the policy objectives mentioned above. Many of these come with technical assistance for the banks so that they can develop these activities into sustainable products that they can upscale.

Providing the money, or access to the money is a great start but does resolve the issues facing SMEs if we want them to be the powerhouses of our economies. It is undisputed that SMEs need access to finance to grow and develop, but they also need much more. There is no silver bullet solution; instead, it requires a combination of factors to be present, and these will vary from country to country and from time to time, but at least we know what the ingredients are. Developing each recipe, however, is the challenge that requires continued and improved coordination and cooperation from a cast of characters. (McDonald, 2020).

This article is a wonderful example of the ways that we can think creatively about providing aid to smaller economic units. The author takes no time to get to the main argument of his article, making it even stronger and more impactful. We applaud the work of the author, Andrew McDonald, and the EBRD, who both work tirelessly to progress towards ‘market-oriented economies and the promotion of the private and entrepreneurial initiative.’ Thanks to organizations like this, MSMEs are receiving the visibility and support that they need.

If you are looking to discuss MSMEs further, get personal access to the ICSB’s journals, JICSB, and JSBM when you become a member of ICSB.

The purpose of the Journal of the International Council for Small Business (JICSB) is to advance research and knowledge of policies and economic development as they relate to improving the performance and sustainability of micro, small, and medium-sized enterprises (MSMEs). To achieve this, JICSB emphasizes the relevance of the authors’ contributions to MSME practice. This unique focus creates the challenge of attracting and managing submissions of rigorous academic scholarly activity that intersect with the application of the knowledge created to operational practices of MSMEs.

JICSB has a strong focus on orientation to research, business, and industry. It will have a foot in both science and practice and can serve as a platform intermediary. This creates several unique strengths and opportunities in research that offer significant value to MSMEs. Articles emphasize the relevance of the research to the actual success of MSMEs by answering the “so what” question. Also, the Journal links this to the Sustainable Development Goals (SDGs) to map them when we are talking about MSMEs effectively.

Resiliency

Sep 7, 2020 | The Latest

Resiliency

Monday, Septemeber 7, 2020, by Lenore Miller

The panelists for “Arts and Entrepreneurship” (September 1, 2020) described both practicality and idealism under the current circumstances of distancing and digital outreach. The “new normal” of virtual representation was discussed by Tim Davis and Pat Thornton, who are forces in bringing the community together with positive visualization. Tim was talking about his work as an artist, curator and educator. Brave Spaces is an online exhibition exemplary of the crux of the webinar— i.e. “Resilience” in these changing times, as represented by International Visions & Consulting. All the artists presented and discussed had inspiring examples of their work. Pat Thornton serves as the Executive Director of Gateway Community Development Corporation, an organization that has focused on revitalization efforts from an art-centered perspective enabling 25 studios for artists, and provides support and advocacy for its tenants and the broader arts community in the Gateway Arts District. A pioneering step was launching the first-ever virtual Open Studios.

Tim and Pat’s remarks generated conversation about success as being true to passion and true to purpose for an artist’s identity. Truth and trust are key words here: and I would also add authenticity for the serious artist. A tangible product is not necessary nor is the handmade better than those fabricated by mechanical intervention, or even a “team” approach — it is the concept behind the work that must drive value and be worth appreciating.

An artist is an entrepreneur in that the artist is creating a “personal brand.” The artist has freedom to be his/her own boss. The brand is distinguished by the style or format for which the artist is or will become known. It must be consistent and recognizable, and innovative, striving for something new!
Just as the entrepreneur needs an idea and pertinent education and business acumen to bring it into the public realm, the artist needs to bring a vision to life and embody it in the real or virtual world. All the “isms” of art of the 20th Century were new ideas with manifestos. The artist builds upon these strengths and since everyone is unique, a unique touch, innovation occurs within every generation.

To “build a resilient community” new ways are needed to bring people and organizations together in cooperative systems within a community to effect positive change for the betterment of society. I applaud the efforts of ICSB to look at business in a more humane and sensitive environment. The arts can driving force in achieving inclusivity and cultural awareness. The arts make us human.

In order to build on these ideas, in future webinars, we need to develop a bibliography and concrete examples. We need a parallel vocabulary between business and art, that can help the non-artist and business student become educated to better appreciate the importance of art as shared cultural heritage and an agent for change.

Explore how artists are like small businesses in the following ways:
Make a product Sell a product Keep an inventory Promote themselves Work various jobs to supplement income ( a classic example of this was in NYC in the ‘80s, artists would bake at home and sell cookies)

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