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My Background Education –2004-2007 NANYANG TECHNOLOGICAL UNVERSITY Awarded Master of Strategic Studies –2002-2004 UNIVERSITY OF WESTERN AUSTRALIA Awarded.

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Presentation on theme: "My Background Education –2004-2007 NANYANG TECHNOLOGICAL UNVERSITY Awarded Master of Strategic Studies –2002-2004 UNIVERSITY OF WESTERN AUSTRALIA Awarded."— Presentation transcript:

1 My Background Education – NANYANG TECHNOLOGICAL UNVERSITY Awarded Master of Strategic Studies – UNIVERSITY OF WESTERN AUSTRALIA Awarded Master of Management Research with distinctions in all modules. Candidate for Doctorate of Business Administration on Innovation & Entrepreneurship – NATIONAL UNIVERSITY OF IRELAND Awarded Master of Science (Finance) – NATIONAL UNIVERSITY OF SINGAPORE Awarded Bachelor of Science in Biochemistry, Microbiology & Economics

2 Professional – Senior Lecturer at SAFTI Military Institute –Conduct seminars on Strategic Studies, Operational Art, Science and Technology, Leadership Ethics and Command, Control and Communication – Directing Staff of Singapore Command & Staff College –Develop mid-career professionals in Strategy, Leadership Ethics, Organization Management, Operational Planning, Operational Art, Technology Management, Command Control and Communications, Team Building, Learning Organizations, Public Speaking and Media Management – Head Current Operations at Joint Comms and Info System Department –Develop and review Armed Forces wide Communication Systems and Policies. Oversee all Armed Forces level contingency planning including emergency operations and United Nation Missions – Head Operations, HQ Signals –Oversee the planning, implementation and management of all Command Control Systems for the entire Army which includes advance switching systems, IT

3 Strategy as an aligning nexus between Innovation and Entrepreneurship Biotech Industry at Massschusetts

4 Aim The aim of this research is to elucidate an understanding of the relationship between firm performance and strategy, innovation and entrepreneurship among high- technology Small and Medium Enterprises (SMEs) in the biotechnology industry at Massachusetts

5 Basic Premise There is a nexus between strategy, innovation and entrepreneurship and firm performance of SMEs in the biotechnology industry There are overlaps in current literature on Innovation and Entrepreneurship The aligning nexus is Strategy

6 Research Questions What are the dimensions of Strategy, entrepreneurship and innovation and to what extent do they contribute to the high-tech biotechnology firm performance? What evidence is there of a nexus between the entrepreneurial orientation and innovation? What evidence is there that the nexus is aligned by Strategy and brings about superior firm performance?

7 Focus Firm level Biotech SMEs Innovation - Porters study on innovative capacities, Clayton Christensens disruptive innovation, EU Community Innovation Survey as well as several resource-based and new product development approaches Entrepreneurial orientation Lumpkin (1998) that identified a set of five distinct dimensions: –product/service innovativeness, a tendency to support creativity and experimentation in introducing new products/services; –process innovativeness, a willingness to support novelty and technological research in developing new processes; –risk taking, a willingness to take bold actions with uncertain outcomes; –proactiveness, a forward-looking perspective involving acting in anticipation of future demand or change; –competitive aggressiveness, a tendency to be forceful and combative in efforts to outperform industry rivals. Strategy

8 Relevance of Research Countries have limited resources and therefore need to maximize the returns on every dollar spent How can countries determine an appropriate mix of strategies, innovation factors and capabilities and entrepreneurial knowhow to support the growth of firms in such industries?

9 Definitional Challenges Innovation is A process through which economic or social value is extracted from knowledge through the generation, development, and implementation of ideas to produce new or improved products, processes and services (Conference Board of Canada) Entrepreneurship, in its narrowest sense, involves capturing ideas, converting them into products and, or services and then building a venture to take the product to market (Johnson, 2001 ) The key elements of entrepreneurship include risk taking, proactivity and innovation (Miller, 1983) Innovation is the specific tool of entrepreneurship by which entrepreneurs exploit change as an opportunity for a different business or service (Schumpeter, 1934)

10 The EU Green Paper defines innovation as the renewal and enlargement of the range of product and services and associated markets, the establishment of new methods of production, supply and distribution and the introduction of changes in management, work organization, and working conditions and skills of the work force (EC 1995)

11 Massachusetts Biotechnology Industry 400 biotechnology companies Of which 235 are developing therapeutic drugs $5 billion of in-state payroll 50 large molecule drugs covering a range of illnesses Nearly 1,769 drugs being developed in Massachusetts, representing over 7 percent of the global drug pipeline

12 Methodology Face-to-face questionnaire survey Case Studies to triangulated Questionnaire is adapted from entrepreneurial orientation, Community of Innovation Survey (CIS-III) and relevant constructs from the new product development studies

13 New Product Development Opportunities Market Conditions Technological Conditions Execution Homework Activities Marketing Activities Technical Activities Project Organisation Company Environment Marketing Synergies Technical Synergies Top Management Support Perceived Risk Customer Knowledge Influence on Market R&D Influence on Firm R&D Outcome Prod Adv (Cooper & Kleinschmidt 2000)

14 NPD Cross –Functional Integration NPD Team Proficiency Customer Orientation Initiation Implementation New Product Performance Strategic and Organisational Antecedents NPD Process FactorsNPD Outcome Subin Im et al. (2003)

15 Proposed Model for Innovation Intensity GovtMarketsSuppliersInstitutionsNational Infra Innovation Outputs Innovation Process Innovation Inputs Firm Performance R&D S&E Employees Training Licenses Fixed Assets Decision to innovate Collaboration Strategy/Mission NPD Initiation* NPD Implementation* NPD Cross-Functinal Integration * Customer Orientation * New Products Productivity Patents Proposed Research Model for Innovation Intensity – Adapted from the CDM(Crepon et al. 1998) and New Product(Subin Im et al. 2003) Research Model

16 Entrepreneurial Orientation Environmental Factors Dynamism Munificence Complexity Industry Characteristics Entrepreneurial Orientation Autonomy Innovativeness Risk Taking Proactiveness Compettive Aggressiveness Performance Sales Growth Profitability Overall Perforamnce Stakeholder satisfaction Organisational Factors Size Structure Strategy Strategy-making process Firm resources Culture ( Lumpkin & Dess, 1996)

17 Proposed Research Model Autonomy Enterpreneurial Orientation Innovation Outputs Firm Perfomance Risk Taking Proactiveness Competitive Aggressiveness Innovativeness Innovation Inputs Innovation Processes Mkt Share ROI % NPD Sales Figure 5: Research Model (adapted from CIS, NPD, Entrepeneurial Orientation Product R&D S&E Employees Training Licenses Fixed Assets Collaboration Strategy/Mission NPD Initiation* NPD Implementation NPD Cross-Functinal Integration * Customer Orientation

18 EO Hypotheses Hypothesis 1: The greater the proportion of a firms autonomy, the greater that firms potential for success. Hypothesis 2: The greater the degree of proactiveness of a firm, the greater the firms potential for success. Hypothesis 3: The greater the degree of risk taking by the firm, the greater its potential for success. Hypothesis 4: The greater the degree of competitive aggressiveness of a firm, the greater that firms potential for success. Hypothesis 5: The greater innovativeness of the firm, the greater the firms potential for success.

19 Innovation Hypotheses Hypothesis 6: The greater the proportion of a firms total expenditure on R&D, the greater that firms performance. Hypothesis 7: The greater the proportion of Science and Engineering personnel employed by a firm, the greater that firms performance. Hypothesis 8: The greater the degree of collaborative intensity between firms, the greater the performance of those collaborating firms. Hypothesis 9: The greater the degree of collaborative intensity with universities/research institutions by a firm, the greater that firms performance. Hypothesis 10: The greater a firms customer orientation, the greater its performance. Hypothesis 11 The better the firms NPD process( initiation and implementation), the greater its performance

20 Strategy Vision and Mission External Analysis Opportunities and Threats Internal Analysis Strengths and Weaknesses Strategic Choice SWOT Organizational Structure Designing Control Systems Business Strategy Strategy Implementation/Tactics Feedback Succession Planning

21 Strategic Planning Copyright Biz/ed 2006

22 Strategy Analysis Copyright Biz/ed 2006

23 Types of Strategy

24 Strategic Culture Copyright Biz/ed 2006

25 Data Analysis Structural equation modeling (SEM) is the primary method used to estimate the significance and strength of the relationships between the different elements in the model Case studies is in line with the pattern matching method suggested by (Campbell 1975) and (Yin 1994)

26 End

27 Book on the Science and Art of Strategy, Innovation & Entrepreneurship Art Science Coup doeil Asymmetry Anticipation Agility Flexibility Integration Leadership Culture Sense-Making Risk taking Networking Negotiating Analysis & Synthesis Combinational Art Trend Setting Sensing Open Systems Interactions Adaptation PESTEL SWOT Analysis Ends, Ways and Means Strategic Planning Model Vision, Mission & Objectives Resources Mgt Balance Scorecard Lean Six Sigma Technology Mgt Systems of Systems Integration NPD StrategyEntrepreneurshipInnovation

28 Science and Art of Innovation, Entrepreneurship and Strategy

29 Science of Innovation Science Technology Management Systems of Systems Integration NPD

30 Art of Innovation Analysis and Synthesis Combinational Science Trend Setting Sensing Open Systems Interactions Adaptation

31 Science of Entrepreneurship Resource Management Balance Scorecard Lean Six Sigma Efficiency

32 Art of Entrepreneurship Leadership Culture Sensing Risk taking Networking Negotiating

33 Science of Strategy Vision, Mission and Objectives PESTEL SWOT Analysis Ends, Ways and Means Strategic Planning Model

34 Art of Strategy Coup doeil Asymmetry Anticipation Agility Flexibility Integration

35 e.com/default.aspx Art Science Coup doeil Asymmetry Anticipation Agility Flexibility Integration Leadership Culture Sense-Making Risk taking Networking Negotiating Analysis & Synthesis Combinational Science Trend Setting Sensing Open Systems Interactions Adaptation PESTEL SWOT Analysis Ends, Ways and Means Strategic Planning Model Vision, Mission & Objectives Resources Mgt Balance Scorecard Lean Six Sigma Technology Mgt Systems of Systems Integration NPD StrategyEntrepreneurshipInnovation


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