#Women2030: Sustainable Career Development

Feb 4, 2022 | The Latest

#Women2030: Sustainable Career Development

Friday, February 4, 2022, by Prof. Analia Pastran and Evangelina Colli

When you are a woman it becomes complex to define the professional development you would like to achieve, since in some way the family, the traditions and customs were preparing us mainly for family assistance tasks. In these times, we are experiencing a global paradigm shift in which the proposal that is promoted with expansive force is to abandon that role for another that puts the core of beliefs in tension.

In this context, being able to see yourself as an economically independent professional woman who can express her own thoughts but at the same time strengthen the foundations of a society by thinking in community, it requires an effort that you must be willing to make, but also of a boldness that is achieved through alliances.

From the observation and experience of the Urban Thinkers Campus (UTCs) in Mexico and Ecuador carried out since 2019 to date, we can point out that when innovating and advancing in issues that concern humanity, such as life in cities, women have been the most tenacious allies. Women face challenges that are replicated regardless of the region, country, culture or belief, and whose solutions are global given that local problems are global.

The Urban Thinkers Campus (UTC) model is an initiative of the UN-Habitat World Urban Campaign, conceived as an open space that includes a series of plenary sessions with debates at the level of international experts, with the aim of bringing together governments, civil society, researchers and personalities from academia, local authorities, professional organizations and youth groups, to propose solutions to urban challenges and achieve green, productive and more inclusive cities.

From this logical framework, we can analyze the real and effective possibilities that women have to access knowledge and power, to apply technology to personal and community development, and to generate alliances during and after these urban thought encounters.

On the other hand, we observe then that the generation and escalation of alliances represent a great challenge to be addressed, since there is a vocation and intention to carry them out but the routines of the organizations and personal objectives make them a difficult and harsh matter to specify and to hold.

Women 2030, a Smartly initiative, comes to propose a scheme of alliances between women to achieve sustainable career development. During the campuses we emphasize the importance of Women Promoting Women, aware that the model of women that we propose is resisted by society and by the women themselves who are already in decision-making positions.

The analysis postulated so far will be under the scrutiny of the social, economic and environmental model that the political systems of the region propose for our democracies.

This series of articles is based on the experience of the Smartly #Women2030 program, and the conclusions published in the UTC online Reports: Vibrant and Inclusive Urban Life First and Second Edition.

*Article written by: Prof. Analia Pastran and Evangelina Colli, Executive Director and Director of Localizing the SDGs of Smartly, Social Entrepreneurship on the SDGs, Partner of the UN Habitat’ World Urban Campaign. #Mujer2030 desarrollo de carrera sostenible

So You Say You Want An Entrepreneurial Revolution

Dec 6, 2021 | Gazette

So You Say You Want An Entrepreneurial Revolution

Monday, December 6, 2021, by Dr. Norris Krueger

Is it Kepler Time?

So you say you want a revolution; well, you know, we all want to change the world.[i] [ii]

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.

Copernicus proved what many had already suspected: The earth travels around the sun, not vice-versa, despite our evident lived experience. A great triumph for science, yes, but his insights did not change the world until Kepler figured out how to make it actionable by demonstrating the regularity of planet orbits.

Entrepreneurship has already had our Copernican moments; the time has come to empower a generation of Keplers. Everywhere we look, we see “entrepreneurs” and “entrepreneurship” – yet in reality, the quantity of entrepreneurial activity has been in decline for decades.

TESLA for our time: Taking Entrepreneurship Seriously by Losing Assumptions[iii]

Our own lived experience about entrepreneurs and entrepreneurship is often as wrong it is about celestial mechanics. Entrepreneurship is both a consequence and driver of complex dynamic adaptive systems where simple linearities are rare. To use an apt analogy, local economies are far more like a messy rain forest than a tidy, organized farm.[iv] Too often, our experiences lead us in the wrong directions. Just as the persistent myths and misconceptions about entrepreneurship resonate too often with our intuitions, the critical leverage points for growing entrepreneurs can be maddeningly counter-intuitive. That means letting go of well-entrenched assumptions about entrepreneurs and entrepreneurship. Losing our most cherished beliefs is never easy, but the rewards will be brilliant.

There are no less than four Copernican revolutions in how to grow healthy entrepreneurs and healthy entrepreneurship. Yet entrepreneurship is lionized but not embraced. Each month I will take a deeper look at these:

1) Entrepreneurial education and learning

2) Lean startup, design thinking, etc.

3) Bottom-up, outside-in entrepreneurial ecosystems

4) Social and sustainable entrepreneurship

We need to embrace all four if we are to realize the entrepreneurial potential of our communities – all of our communities. That we need to embrace if we are to realize the entrepreneurial potential of our citizens – all of our citizens.

We will likely have to storm a few barricades for the entrepreneurial revolution to succeed. Will you join ICSB and friends? Then, we will give John Lennon the final word: Don’t you know it’s going to be all right?

ICSB Entrepreneurship Revolution series continues with Dr. Norris Krueger.

[i] Lennon, J & McCartney, P (1968) “Revolution”. Sony Music Publishing (with apologies for the liberties).

[ii] Stay tuned for a “Keplerian” entrepreneurial update of this Beatles classic…

[iii] ICSB CEO Ayman El-Tarabishy has dubbed me the “Tesla of entrepreneurship”; it seems only appropriate to leverage the meme

[iv] e.g, Hwang & Horowitt’s seminal 2012 book, The Rainforest; also Brett’s 2020 Admired Disorder)

Why Corporate Entrepreneurship And Why Now?

Dec 6, 2021 | Gazette

Why Corporate Entrepreneurship And Why Now?

Monday, December 6, 2021, by Dr. Alex F. DeNoble

While conversing with a colleague recently, we somehow segued into a discussion about the concept of “punctuated equilibrium” (PE). He is an educator, and he was talking about the need to adapt our approaches to providing meaningful and impactful learning experiences for our students. Afterward, I began to dig deeper into the concept of punctuated equilibrium. I learned that the term evolved from paleontological literature. Scientists use this term to make sense of how a sudden exogenous factor can change the status quo of an entire ecosystem. In paleontology, they refer to dinosaur life before and after the sudden interruption caused by an asteroid striking the earth. Alas, some life forms went extinct because they could not adapt, while others flourished as they adapted to the new status quo.

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.

As I thought about it more, I began to divide the world into three distinct periods: 1) conceptually life before COVID-19; 2) life during COVID-19; and 3) an emerging “new normal” life as we learn to live with COVID and its many new variants. This new normal will profoundly affect how we will live, work and play in the near term future.

Like the dinosaurs, many companies went extinct during COVID -19 because the impact was too sudden and they could not react fast enough to survive. But for those companies and entrepreneurs who were able to hold on during quarantines, social distancing, and institutional closures, the challenge is not over. It has only just begun.

Now companies, both large and small, are anxiously trying to figure out what their own new normal will look like. No longer can they rely on the adage of “If it worked for us in the past, it would work for us in the future.” Instead, companies need to rethink their business models, processes, and traditional customer markets. What is needed now, more than ever, is the corporate entrepreneur, the innovator, the maverick initiator of change in an organization.

In this introductory article, I underscore the urgency for individuals with an entrepreneurial mindset and drive to reimagine our work environment and the markets that companies currently serve. Because Corporate Entrepreneurship is a complex process, it requires individuals who can draw on their confidence in their abilities to navigate the organization’s hierarchies and roadblocks. In addition, such individuals will need to develop effective social skills to overcome the obstacles that can impede their progress towards introducing new business and process ideas. In the months ahead, I will offer short articles on insights I have gained about Corporate Entrepreneurship through my research and interviews with many amazing people who have successfully navigated the corporate maze to bring their ideas to life. I hope you will enjoy the ride as much as I want to share my thoughts with you on this most critical topic. Until next time……

Behavioural Finance and Generation Z

Oct 26, 2021 | Gazette

Behavioural Finance and Generation Z

Tuesday, October 26, 2021, by Dr. Mariya Yesseleva-Pionka, PhD

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. Moving forward, entrepreneurs and MSME owner-managers and the corporate sector have to assess the benefits of the hybrid business models and hybrid work arrangements for their staff members. Generation Z represents a significant group of the current workforce globally and they also actively seek various investment options. Members of Generation Z were born between 1995 to 2010 and, according to a report published by Mckinsey Consulting Company,[1] this is a “hypercognitive generation”, which is searching for “truth” and “individual expression”. Every generation has unique identifying characteristics and approaches to personal finance and investments.

A new research study results by Barclays Smart Investor[2] demonstrated that Generation Z looks at the short-term investments that promise high returns. One quarter (25%) of Generation Z investors are checking the performance of their investment portfolio, and 17% are trading on a frequent basis which is not surprising, due to the easy access to smart mobile devices. Most importantly, 16% of the respondents are engaged in speculative investments. This could have a detrimental effect on their future lifestyle if the risk exposure is not minimised. High-risk investment strategies are not suitable for everyone. There is also a common misconception that Generation Z could try to take on higher risk just because of their young age, as they have more time to make up for the potential losses. It is vital to comprehend the overall impact on investors’ lifestyle, financial and mental health, requirements to work harder and longer hours, and unnecessary stress and wellbeing.

It is vital to understand the importance of diversification and the creation of a well-balanced investment portfolio. When assessing any investment portfolio, it is crucial to take into account two broad types of risk: systematic risk and unsystematic risk. The systematic risk refers to the economy-wide risk, and all investors in the market are exposed to it. Thus, it is essential to assess current economic conditions and how they might affect your investment choices. The unsystematic risk is also known as a firm-specific risk as it directly relates to the firms investors monitoring for the potential investment. Changes in management, product and brand reputation, the introduction of the new project could represent some of the examples of the effect on the firm performance. Generation Z was introduced to technology and investment opportunities at their fingertips from a young age, due to the rapid developments in finance and technology, which was not the case for older generations. The ease of use and accessibility of the online investment options should not cancel detailed research and assessment of the potential risk involved in the investment options and the long-term effect on financial wellbeing.

[1] https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies

[2] https://www.barclays.co.uk/smart-investor/news-and-research/investing-insights/rise-of-the-gen-z-investor/

Author

Dr Mariya Yesseleva-Pionka is Global Certificates Manager at ICSB, a Higher Degree by Research Supervisor at Excelsia College and Adjunct Academic at the University of Technology Sydney, Australia. Dr Yesseleva-Pionka held teaching and senior academic management positions in Central Asia (Kazakhstan) and Australia. She specialised in general investments, personal and corporate superannuation investments while working for Westpac Banking Corporation and BT Financial Group in Australia. She was invited to join The Housing Connection, a not-for-profit organisation in Sydney, Australia as Treasurer and Board Member from November 2019. Her research interests include entrepreneurial finance, traditional and alternative ways to finance small and medium enterprises (SMEs), corporate finance, policies for the small business sector, innovation and SMEs, FinTechs and Blockchain. Dr Yesseleva-Pionka is the Associate Editor for the Journal of the International Council for Small Business (JICSB).

Investment Choices and The Power of Gold Shield

Sep 21, 2021 | Gazette, The Latest

Investment Choices and The Power of Gold Shield

Tuesday, September 21, 2021, by Dr. Mariya Yesseleva-Pionka, PhD

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. It took a long time and only in 1958, the Bretton Woods system was in full operation. The responsibility of the United States was to keep the price of gold fixed at USD 35 an ounce and make sure the supply of dollars was at adequate levels to maintain future gold convertibility, as the gold was the basis for the U.S. dollar. Participating nations were required to settle international balances in dollars. The Bretton-Woods system did not last long and officially ended in 1971 when President Nixon confirmed that the United States would not continue exchanging gold for the United States Dollar, mainly due to the fact that at that time, the U.S. balance-of-payments deficits contributed to the level of dollars in circulation surpassing the level of U.S. gold stock[1].

Is gold still an attractive investment 50 years later? How has the price of gold been fluctuating over the years? The price of gold is affected by three important factors- supply, demand conditions and investors sentiments. Gold is one of the precious metals that has been a subject of great attraction for investors worldwide. For many, the gold represents a treasured investment and demand for gold is exceptionally high during times of economic and financial crises, such as the Great Depression, Global Financial Crisis and the most recent COVID-19 global pandemic. The supply of gold also has an impact on the price of gold. Gold mining has been continuing for centuries and one could assume that, if there is a higher supply, the price should be lower. This is not always the case as the increasing demand for gold is explained by the growing number of jewellery items, the higher level of gold added by central banks to their reserves and gold investments in commodity markets, with many investors choosing to have gold in their investment portfolios as a shield from unstable economic circumstances.

In 2020, during COVID-19 global pandemic, the price of gold was driven to new heights, reaching above USD 2,000 per ounce. Due to volatile economic conditions worldwide, investors rushed to choose gold and other precious metals as a reliable and recession-proof store of value, further driving up the price of gold. Another contributing factor to the surging price of gold was the severe disruption in the gold supply chains worldwide, due to the pandemic restrictions with the decreased production levels, deliveries and suspension of work in refineries. Nevertheless, to this day, gold is a well-known investment choice for diversifying investment portfolios and it is used it as a shield from uncertain economic conditions.

[1] www.federalreservehistory.org/essays/bretton-woods-created

Author

Dr Mariya Yesseleva-Pionka is Global Certificates Manager at ICSB, a Higher Degree by Research Supervisor at Excelsia College and Adjunct Academic at the University of Technology Sydney, Australia. Dr Yesseleva-Pionka held teaching and senior academic management positions in Central Asia (Kazakhstan) and Australia. She specialised in general investments, personal and corporate superannuation investments while working for Westpac Banking Corporation and BT Financial Group in Australia. She was invited to join The Housing Connection, a not-for-profit organisation in Sydney, Australia as Treasurer and Board Member from November 2019. Her research interests include entrepreneurial finance, traditional and alternative ways to finance small and medium enterprises (SMEs), corporate finance, policies for the small business sector, innovation and SMEs, FinTechs and Blockchain. Dr Yesseleva-Pionka is the Associate Editor for the Journal of the International Council for Small Business (JICSB).