Entrepreneurship Education in a RUDE Environment

Entrepreneurship Education in a RUDE Environment

Today’s environment is RUDE (Rapidly changing; Uncertain; Dynamic and Engaging), because of ever changing demographic, economic, technological, political/legal, and social/cultural factors. The changes are not only rapid, but at times, can be ruthless; they are not only uncertain but at times unpredictable.

ENTREPRENEURSHIP EDUCATION IN A RUDE
ENVIRONMENT

January, 8, 2019

Today’s environment is RUDE (Rapidly changing; Uncertain; Dynamic and Engaging), because of ever changing demographic, economic, technological, political/legal, and social/cultural factors. The changes are not only rapid, but at times, can be ruthless; they are not only uncertain but at times unpredictable. They are not only dynamic but at times disruptive, and are not only omni-engaging but also enabling. In such a RUDE environment, critical questions prevail, such as “how do you educate entrepreneurs from around the world?” and “how do you ensure what is taught is still of value and relevance for today and tomorrow?”

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The Notion that Simply Encouraging More People to Start Businesses Isn’t Necessarily the Most Effective Use of Resources

The Notion that Simply Encouraging More People to Start Businesses Isn’t Necessarily the Most Effective Use of Resources

Governments, NGOs, businesses, and other stakeholders have, for some time, sought to encourage entrepreneurship in their communities or in other regions of the world where this activity is viewed as a solution to economic and societal challenges. As understanding about this activity has increased, so has the notion that simply encouraging more people to start businesses isn’t necessarily the most effective use of resources. Initiatives instead need to focus on particular types of entrepreneurship or entrepreneurs: for example, growth-oriented entrepreneurs, women, youth, or technology ventures.

The Notion that Simply Encouraging More People to Start Businesses Isn’t Necessarily the Most Effective Use of Resources

December 31, 2018

Governments, NGOs, businesses, and other stakeholders have, for some time, sought to encourage entrepreneurship in their communities or in other regions of the world where this activity is viewed as a solution to economic and societal challenges. As understanding about this activity has increased, so has the notion that simply encouraging more people to start businesses isn’t necessarily the most effective use of resources. Initiatives instead need to focus on particular types of entrepreneurship or entrepreneurs: for example, growth-oriented entrepreneurs, women, youth, or technology ventures.

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ICSB’s 100 Best Images of the Year

ICSB’s 100 Best Images of the Year

ICSB’s 100 Best Images of the Year—curated from 15 photographers, 25 events and 18 stories, and more than 5000 photographs. … And not just any photographs — ICSB photographs.

ICSB’s 100 Best Images of the Year

December 28, 2018

ICSB’s 100 Best Images of the Year—curated from 15 photographers, 25 events and 18 stories, and more than 5000 photographs. … And not just any photographs — ICSB photographs. As our ICSB Executive Director estimated the team looked at as many as 5,000 photographs and thought these photographs captured the essence and magic of ICSB in 2018.

A picture is seeing something with your eyes and capturing that moment with a camera or cell-phone. Taking a photo acknowledges the difference between being there and actually living the moment. The ICSB 100 Best Images is understanding our fully immersive experience.

Here are some of the top images below and for a complete viewing, please view below.

ICSB Top 10 MSME Trends for 2019

ICSB Top 10 MSME Trends for 2019

Micro-, Small and Medium-sized Enterprises (MSMEs) continue to be on the move!   Recognized globally for their contributions to innovation and improving economic conditions, MSMEs are embraced universally for the impact they have on every part of society by being the number one job creators.

ICSB Top 10 MSME Trends for 2019

December 27, 2018

Micro-, Small and Medium-sized Enterprises (MSMEs) continue to be on the move!

Recognized globally for their contributions to innovation and improving economic conditions, MSMEs are embraced universally for the impact they have on every part of society by being the number one job creators.  To better understand MSMEs, it is important to acknowledge that they are continuously inundated with a myriad of challenges in an ever-changing marketplace.

In 2018 ICSB Top Ten Trends for MSMEs predicted that the number one issue facing MSMEs was protecting a company’s assets. Bad actors created a fear online that any company with assets in the digital cloud was vulnerable to hackers.  There were many stories in the press that detailed how a small business lost its intellectual property due to online theft.   Other trends on the 2018 ICSB’s MSMEs list covered common prevailing concerns such as lack of access to capital, attracting a competitive workforce, and differentiation (personalization) from competitors.  These were the top four trends in 2018 as projected by ICSB.

For 2019, ICSB sees a major shift in the landscape for micro-, small and medium-sized enterprises.  It is remarkable what a difference a year makes!  Here are ICSB’s 2019 Top Ten Trends for MSMEs:   (download the pdf)

Number Ten: MSMEs TO MEET THE SUSTAINABLE DEVELOPMENT GOALS (SDGs)

INSIGHT:  MSMEs are the fabric of communities, reaching many sustainable development goals without realizing it. Yet, they can be empowered to do more. MSMEs can become the measuring stick of how we are achieving the SDGs.
ICSB RECOMMENDATION: MSMEs should make the SDGs a prominent selling point to demonstrate why consumers should buy from them. If a consumer sees an MSME engaged in the SDGs, they will further support it. Like buying organic or recycling, MSMEs should allow consumers to contribute to a sustainable world.  Educators, policy-makers, and consultants should educate, encourage, and assist MSMEs to develop the framework for this new operating model. Governments should provide incentives encouraging the rapid deployment of the SDGs, the return to their economies and societies is tangible and impactful.

Number Nine: ACCESS TO FINANCE AND NEW OPTIONS AVAILABLE

INSIGHT: MSMEs and entrepreneurs will have more options available than ever before to finance their companies. Many banks will launch new financial products aimed at micro, small, and medium-sized enterprises. Blockchain and cryptocurrency are slowly evolving into viable new options.  Additionally, new mediums such as peer-to-peer lending, crowd-funding, invoice-factoring, and corporate finance are expected to increase rapidly.

ICSB RECOMMENDATION: The increase in Fintech, which includes crowdfunding and peer-to-peer funding, allows broader availability and timeliness.  Universities and the Economic Press can contribute a lot to informing a large audience about why and how to invest in prominent MSMEs through these new financial tools.

Number Eight:   ATTRACTING A NEW WORKFORCE FOR SMEs

INSIGHT:  SMEs should jump on the opportunity to hire millennials by offering them the stability of a quality job. The benefits of innovation, encouraging creativity, and the opportunity to grow are incentives to attract the best and brightest. Co-working space is becoming the new normal. As millennials are the workforce of the future, they will be able to offer the best skillset, mindset, and productivity to SMEs. It’s HIP to work for an SME!

ICSB RECOMMENDATION: SMEs should align more with universities and vocational schools to promote the hiring and development of the millennials. Education needs a fresh serious and relevant look.

Number Seven: CUSTOMIZATION IS THE NEW HOT TOPIC FOR MSMEs

INSIGHT:  MSMEs can no longer compete on price or convenience of location; big businesses have discovered how to deliver their products to their clients on the same day and at a lower price. Artificial intelligence and machine learning are becoming more sophisticated (Alexa, Siri, and Google are popular household names).  Given their size and coupled with AI, big businesses have developed one-size fits all for many products for mass consumption. MSMEs cannot compete at this level.

ICSB RECOMMENDATION: MSMEs should brainstorm and develop products and services that are customized and personalized for their customer needs and preferences. The benefits of new technologies like 3D printing and being close to the consumer will allow MSMEs to offer them a new and more attractive option. MSMEs should start preparing immediately.

Number Six: MSMEs REDEFINING THE INNOVATION PROCESS

INSIGHT: The human touch and the human experience will never be fully replaced. However, the advances in artificial intelligence, robotics, and technology are redefining what is meant by innovation. Reverse innovation and re-engineering are allowing for a radically new view on creating new products and services. Projects that used to cost billions of dollars now are a tenth of the cost because of open innovation. Open ideas and markets will accelerate this trend.

ICSB RECOMMENDATION: This is where MSMEs can excel. They are the incremental innovators that know how to bring practical innovation to fruition. They have the speed, nimbleness, and flexibility to pivot versus bigger companies that require more time and resources.

Number Five:  DIGITAL MSMEs GO GLOBAL

INSIGHT:  The global marketplace is one website away. The world of consumers is around the corner. The United States population only accounts for 5% of the total world population. Therefore, MSMEs should consider customers as global customers. We have moved from analog to digital.  MSMEs need to do business in a digital manner as well.

ICSB RECOMMENDATION: A digital mindset is needed for MSMEs and should be considered as an opportunity, keeping in mind that their business needs require adequate logistics to handle digital commerce. Simplicity is the key to success in a complex digital marketplace.

Number Four: MSMEs ARE ABOUT DOING BUSINESS IN A HUMANE WAY

INSIGHT:   MSMEs hold a special place in people’s hearts because they are as human as we are. Industrialization, robots, and artificial intelligence are the fad now and will continue to stay and grow. Yet, the heart will always yearn for a human touch.

ICSB RECOMMENDATION: Technology is a tool to improve your business operations; the human element is what makes MSMEs unique and long-lasting. Treat your employees with dignity and respect and engage your customers with the warmth of a human smile. Humane entrepreneurship is all-encompassing.

Number Three Trend: MSMEs AND NAVIGATING TRADE WARS

INSIGHT: ICSB projects that global trade wars will be a major issue impacting MSMEs.  The gloves have come off between the two largest economies in the world and the imposition of tariffs by each country has plunged the world economy in turmoil.  MSMEs cannot escape the fallout from this fight and are feeling the impact. It will get worse if the trade wars continue. There is an African proverb that says,” When two elephants fight, it is the grass that suffers the most.”  MSMEs cannot escape the fallout from this fight and are feeling the impact.

ICSB RECOMMENDATION: MSMEs often believe that they can do little to influence the impact of such pervasive macro political forces.  There are actions they can take to minimize the disruption to their businesses.  The first is to increase communication with their stakeholders, especially employees, customers, and suppliers.  The second is to understand and keep abreast of the trade issues in an effort to anticipate their impact on key stakeholders.  Finally, by understanding your supply chain and the alternative actions you and your business can take, you are in a better position to let those you know at the local and national level that the trade wars are hurting your workers, communities, customers, and suppliers.

Number Two: THE IMPACT OF 1.8 BILLION WHO WILL TRANSFORM THE FUTURE

INSIGHT: The ICSB No. 2 projection for 2019 is the impact on the economy of the 1.8 billion youth.  According to the United Nations Population Fund (UNFPA), there have never been so many young people (ages 10 to 24) in the world.  This demographic is also growing the fastest in the developing nations and is coupled with the change in emerging markets worldwide. The transformation will occur.  How this happens will be done by the youth but must be supported by established institutions.

ICSB RECOMMENDATION: The youth are already redefining the workplace and the definition of work. There are many stakeholders who will be impacted.  Our economic and educational infrastructure must lead the way for integrating the worker of tomorrow, many of whom are seeking to be part of a humane work environment. The education sector, in particular, needs to be more forward-looking and start preparing for the ever-changing workplace at all levels and the meaning of work to this formidable group. They have arrived.

Number One: THE POWER OF BELIEF

INSIGHT:  The number one ICSB trend for 2019 is broadly captured as the POWER OF BELIEF.  For many years, the question around entrepreneurship was, nature vs. nurture.  It was argued by many that to be an entrepreneur was something innate.  There are others who argued that entrepreneurship was a learned behavior.  In 2019, those arguments have gone by the wayside once and for all.  Everywhere you go, from the favela to the refugee camps, to remote villages, to our large urban areas, the belief that a person can create something of economic and social value is real.  Entrepreneurship is no longer the domain of the rich, well-connected or gender specific.  Women, youth, families, and the disabled, particularly, are transforming their societies and using the POWER OF BELIEF in themselves to energize their economies.

ICSB RECOMMENDATION: Encourage the creation and sustainability of MSMEs, by not just starting businesses, but creating and maintaining adaptable and vibrant ecosystems. It starts with a belief, the POWER OF BELIEF, and leads to meeting the challenges represented by the United Nations 2030 Sustainable Development Goals.  To have a meaningful impact, all of us must engage our POWER OF BELIEF to continue the effort to create, grow, and sustain our economic and social enterprises.

Let the Creative Class in All Segments of Society Take Their Place.

Arab Republic of Egypt: Much work needed, but the path is clear and positive

Arab Republic of Egypt: Much work needed, but the path is clear and positive

With a predominantly young population and various organizations and government bodies around the region offering financial and strategic support, focusing on entrepreneurship has been a critical element for economic growth, social inclusion, youth engagement, and job creation in the Arab world in general, and Egypt in specific.

Arab Republic of Egypt: Much Work Needed, but the Path is Clear and Positive

December 25, 2018

With a predominantly young population and various organizations and government bodies around the region offering financial and strategic support, focusing on entrepreneurship has been a critical element for economic growth, social inclusion, youth engagement, and job creation in the Arab world in general, and Egypt in specific.

Entrepreneurial influence is strong among Egyptian youth who are overcoming financial, cultural, and legal challenges to maintain local sustainable business models that can improve the economy and help decrease unemployment rates.

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SEAANZ Releases White Paper on Future of Work for SMEs

SEAANZ Releases White Paper on Future of Work for SMEs

At the Australia and NZ Academy of Management (ANZAM) conference held recently in Auckland, NZ, SEAANZ, an affiliate of ICSB, launched their White Paper that focuses on the future of work for SMEs.

SEAANZ Releases White Paper on Future of Work for SMEs

December 19, 2018

At the Australia and NZ Academy of Management (ANZAM) conference held recently in Auckland, NZ, SEAANZ, an affiliate of ICSB, launched their White Paper that focuses on the future of work for SMEs. The 40 page paper, titled “Inspiring Future Workplaces: An Australia and NZ Small Business Perspective” was produced by Tui McKeown from the work produced by the full team noted in the report from the Small Enterprise Association of Australia and New Zealand (SEAANZ) under commission from the Australian Chamber of Commerce and Industry. This research was supported by the Department of Jobs and Small Business via the Productivity and Education Training Fund.

Download the Full Report

What Did Research Tell Us About Micro-,Small and Medium-Sized Enterprises?

What Did Research Tell Us About Micro-,Small and Medium-Sized Enterprises?

 

As Editor-in-Chief of the Journal of Small Business Management (JSBM), I am privileged to edit one of the oldest and largest circulated academic journals in the world dedicated to exploring the successes, failures and interesting breakthroughs in small business management and entrepreneurship sector. Currently, JSBM’s Impact Factor is 2.876, and it’s ISI Journal Citation Reports © Ranking: 2017: 48/194 (Management). The primary purpose of the Journal of Small Business Management (JSBM) is to publish scholarly research articles in the fields of small business management and entrepreneurship.

What Did Research Tell Us About Micro-,Small and Medium-Sized Enterprises?

December 17, 2018

 

As Editor-in-Chief of the Journal of Small Business Management (JSBM), I am privileged to edit one of the oldest and largest circulated academic journals in the world dedicated to exploring the successes, failures and interesting breakthroughs in small business management and entrepreneurship sector. Currently, JSBM’s Impact Factor is 2.876, and it’s ISI Journal Citation Reports © Ranking: 2017: 48/194 (Management). The primary purpose of the Journal of Small Business Management (JSBM) is to publish scholarly research articles in the fields of small business management and entrepreneurship.

Download the Full Article

 

Do Micro- Small and Medium Enterprises Have a Soul?

Do Micro- Small and Medium Enterprises Have a Soul?

 

The soul is the expression of profound individual and collective values. Some enterprises, especially MSMEs (Micro-Small and Medium Enterprises), seem to have a “soul.” There is an inexplicable, underlying factor that makes them appear more vibrant. Perhaps the best way of understanding this vibrancy is to observe the people and identify the values that underpin this organizational culture.

DO MICRO-, SMALL, AND MEDIUM ENTERPRISES HAVE A SOUL?

December 10, 2018

 

The ICSB Gazette is a weekly edition of a key topic that ICSB will showcase. The content is varied from research, practice, policy, and education. This week’s issue features Louis Jacques Filion, an honorary professor at HEC Montreal, the Montreal Business School. To read the full article, click below.

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U.S Postal Service Invites ICSB to Micro Business Macro Impact Event

U.S Postal Service Invites ICSB to Micro Business Macro Impact Event

The Role of the U.S Postal Service in Microbusiness Growth and Prosperity – ICSB Joins the Dialogue

On behalf, of the President of ICSB, Dr. Geralyn Franklin, the ICSB Executive Director attended and spoke at USPS major conference titled “Micro Business, Macro Impact – The Role of the U.S. Postal Service in Microbusiness Solutions”.

From agriculture to law, and online marketplace to home garages, microbusinesses underpin the American economy. While small in scale, with 0 to 9 employees – this sector accounts for about three-fourths of all U.S. private-sector businesses and comes with a diverse set of needs.

Dr. El Tarabishy, thanked on behalf of Dr. Franklin, the efforts of USPS to focus on micro businesses and discussed ICSB efforts to raise global awareness of the importance of micro businesses. Micro-, small and medium enterprises, the first responders to societal needs. These types of enterprises are responsible for significant employment and income generation opportunities across the world and have been identified as a major driver of poverty alleviation and development.

MSMEs tend to employ a larger share of the vulnerable sectors of the workforce, such as women, youth, and people from poorer households. MSMEs can even sometimes be the only source of employment in rural areas. As such, MSMEs as a group are the main income provider for the income distribution at the “base of the pyramid”.

MSMEs should be the first responders to societal needs and provide the safety net for inclusiveness.

Discussion questions for the session covered the following topics: What challenges, needs, and wants do microbusinesses have for their shipping and mailing activities? What does reliability and quality service mean for mailing and shipping?  As microbusinesses grow, what challenges do they face in expanding that the Postal Service could be a solution for?

In attendance of this session where, Mr. John Pellegrin, Fairfax County Small Business Commission, Chairman. Mrs. Ashley Shillingsburg, eBay, Senior Manager of Government Relations, and Wendy Urquhart, Taradel, Vice President of Business Development.

Dr. El Tarabishy, on behalf of ICSB, invited USPS to celebrate MSMEs Day and declare June 27th – USPS MSMEs Day!

U.S Postal Service Invites ICSB to Micro Business Macro Impact Event

Thursday, November 29, 2018

The Role of the U.S Postal Service in Microbusiness Growth and Prosperity – ICSB Joins the Dialogue

On behalf, of the President of ICSB, Dr. Geralyn Franklin, the ICSB Executive Director attended and spoke at USPS major conference titled “Micro Business, Macro Impact – The Role of the U.S. Postal Service in Microbusiness Solutions”.

From agriculture to law, and online marketplace to home garages, microbusinesses underpin the American economy. While small in scale, with 0 to 9 employees – this sector accounts for about three-fourths of all U.S. private-sector businesses and comes with a diverse set of needs.

Dr. El Tarabishy, thanked on behalf of Dr. Franklin, the efforts of USPS to focus on micro businesses and discussed ICSB efforts to raise global awareness of the importance of micro businesses. Micro-, small and medium enterprises, the first responders to societal needs. These types of enterprises are responsible for significant employment and income generation opportunities across the world and have been identified as a major driver of poverty alleviation and development.

MSMEs tend to employ a larger share of the vulnerable sectors of the workforce, such as women, youth, and people from poorer households. MSMEs can even sometimes be the only source of employment in rural areas. As such, MSMEs as a group are the main income provider for the income distribution at the “base of the pyramid”.

MSMEs should be the first responders to societal needs and provide the safety net for inclusiveness.

Discussion questions for the session covered the following topics: What challenges, needs, and wants do microbusinesses have for their shipping and mailing activities? What does reliability and quality service mean for mailing and shipping?  As microbusinesses grow, what challenges do they face in expanding that the Postal Service could be a solution for?

In attendance of this session where, Mr. John Pellegrin, Fairfax County Small Business Commission, Chairman. Mrs. Ashley Shillingsburg, eBay, Senior Manager of Government Relations, and Wendy Urquhart, Taradel, Vice President of Business Development.

Dr. El Tarabishy, on behalf of ICSB, invited USPS to celebrate MSMEs Day and declare June 27th – USPS MSMEs Day!

Humane Entrepreneurship takes Center Stage in Seoul, S. Korea

Humane Entrepreneurship takes Center Stage in Seoul, S. Korea

Humane Entrepreneurship, Center Stage in Seoul, S. Korea

November 27, 2019

The Power of an Idea from ICSB.

The month of November experienced the most active engagement of global leaders coalescing together on key topics related to Micro businesses, SMEs and Entrepreneurship.

A major conference that will have positive ramifications for years to come was held on November 26th, in Seoul, S. Korea under the leadership of Dr. KiChan Kim, past president of ICSB, and the co-founder of the Humane Entrepreneurship initiative that ICSB adopted as the main theme. In attendance and as a keynote speaker to the conference Ms. Chantal Line Carpentier Chief, New York Office, the United Nations Conference on Trade and Development (UNCTAD). Ambassador Oh Joon, former President of the UN ECOSOC Group was also a keynote speaker.

ICSB, in 2016, and under the leadership of KiChan Kim as the president proposed a new vision for entrepreneurship titled Humane Entrepreneurship. The Moon Jae-in administration assumed leadership of S. Korea in May 2017 and immediately started to explore further how technology and science be used to further build a human-centered society. They proposed a new view of society called a “people-centered economy,” South Korea’s government says its strategy consists of three elements: increasing the number of jobs and income, growing innovation, and creating a “fair economy.” While the country’s investments in technology will continue to focus on major directions led by concepts such as networks of devices connecting to each other and exchanging data – the internet of things – big data and 5G, the president stressed the importance of catering to actual citizen needs.

Dr. George Solomon, Editor of the ICSB Journal for Small Business Management, commissioned major research projects to lay the groundwork for an academic review of the topic and to start building a robust new research domain. Two groundbreaking articles were published in 2017 proposing a system of ideas intended to explain this new concept that is based on general principles. Dr. Roberto Parente, ICSB President Award recipient, authored one of these seminal research articles and to represent a provocative European perspective.  Dr. KiChan Kim, led the other initiative to put forth an Asian viewpoint. (click here to view these article 1 and article 2). Research now is underway in Latin America, United States, Australia, Canada, and Mexico.

Dr. Geralyn Franklin, current President of ICSB, led a major ICSB meeting at the United Nations to broaden this topic and to add a new and key dimension to the discussion that covered high growth women entrepreneurs. Incoming President of ICSB, Ahmed Osman, added the Middle East dimension with a major focus on youth and the key idea of the Power of the 1.8 Billion to be presented at the ICSB 64th World Congress in Cairo, Egypt. Dr. Mark Shenkel, President of USASBE, as ICSB member affiliate, is leading the premier United States Conference on the topic of Entrepreneurship Education. Dr. Ruben Ascua, Past President of ICSB, and the most decorated leader of SMEs in Argentina continues to integrate Humane Entrepreneurship in the regional Red Pymes conference.

The Seoul Conference was a culmination of a global push by ICSB to raise awareness of the importance of Humane Entrepreneurship. The conference included discussion of best practices and initiatives taken to support humane entrepreneurship at the national, regional and international levels, including with regard to the identification, formulation, implementation and assessment of coherent policy measures on entrepreneurship and the promotion of micro-, small and medium-sized enterprises.

As the ICSB Executive Director, Dr. Ayman El Tarabishy, pointed out, ICSB is leading a new global storm that will sweep away all the periphery noises and get back to one key topic. How can we improve the lives of all human beings through entrepreneurship, micro-businesses, and SMEs?