Used as a title for a recent essay in this ICSB series (Dana and Salamzadeh, 2022), the idiom “A leopard cannot change its spots” is thousands of years old. It means people and things cannot change their innate nature. But this is exactly what MSMEs will need to do.
Many people believe that doing business is just about selling something. Although this could be true, one cannot neglect the importance of where we do such activities. As mentioned by Peter Drucker: “culture eats strategy for breakfast”. The context reveals the playground in which we could win or lose. While a businessperson could succeed in a context, he or she might not even be able to compete in another context. The culture could motivate people or kill their creative spirit.
We have been witnessing a digital revolution worldwide which affected all industries, especially with the evolution of digital payment methods. The global connectivity due to the introduction of the Internet allowed for the flow of information, payments, emails, texts, to name a few.
At various stages in their personal lives, many entrepreneurs choose to seek the advice of a finance professional to assess risks and recommend financial solutions that could help in the financial decision-making process.
2022 is ICSB’s Year of Revolution. We have been witness to no less than four Copernican revolutions in how to develop entrepreneurs and entrepreneurship. In each case, we have already had our Copernican moments. But would Copernicus be Copernicus without those like Kepler who fought to prove their essential value? As a field, the time has now come to find and support our Keplers.
Today, as a global society, we are faced with our form of punctuated equilibrium event brought on by a confluence of exogenous forces led by the COVID-19 pandemic and enhanced by intensified global concerns about the environment and climate change and demands for social justice through meaningful diversity equity and inclusion.
El nivel de difusión de las nuevas tecnologías involucradas en la llamada Industria 4.0 (I40) es aún incipiente en América Latina y en particular en pymes manufactureras. La I40 presenta dos dimensiones, por un lado, la política descendente en la que los gobiernos incentivan al sistema productivo a adoptar los motores de esta revolución tecnológica y, por otro, la dimensión empresarial impulsada por las grandes empresas transnacionales y la red de participantes pymes en sus cadenas de valor.
The global online connectivity has soared from the onset of the COVID-19 pandemic as the world was forced to rely on technology to maintain communication and the exchange of information. The business models of the existing and new businesses had to be re-evaluated to factor in the importance of having an online presence.
The Bretton Woods system of monetary management was created to establish an international currency regime. The United Nations Monetary and Financial Conference took place in 1944 at the Mount Washington Hotel in Bretton Woods, New Hampshire. At that time, the delegates from 44 countries established two significant institutions – The International Monetary Fund (IMF) and International Bank for Reconstruction and Development, now known as the World Bank Group.
Go-to-market strategies for most new ventures are usually fatally flawed. And, they are usually fatally flawed because they are not grounded by voice of customer (VOC) research. You cannot execute successfully without truly vetting the elements of your go-to-market strategy. This is where the rubber hits the road. Planning is nothing without execution! And, executing based on assumptions and guesswork is folly. So, your execution must be validated by your customer.