Download presentation
Presentation is loading. Please wait.
1
Innovation Indirect Objectives 7/22/15
2015 Innovation Indirect Robert Farrell Assistant Professor Lehman College, CUNY Objectives Arrive at concrete list of projects and potential investors using entrepreneurial approaches to innovation and investment. Develop an action plan for realizing an innovative project using indirect strategies.
2
7/22/15
3
7/22/15
4
7/22/15 Library
5
7/22/15
6
7/22/15
7
Entrepreneurial Approach
7/22/15 Entrepreneurial Approach Entrepreneurs… risk averse with own money risky with other peopleʼs money seek investors not do-gooders accrue capital opportunistic seek “market anomalies”
8
Other Peopleʼs “Money”
7/22/15 Other Peopleʼs “Money” CAPITAL Other Peopleʼs “Money” CAPITAL
9
Other Peopleʼs “Money”
7/22/15 Other Peopleʼs “Money” CAPITAL Other Peopleʼs “Money” CAPITAL
10
Other Peopleʼs “Money”
7/22/15 Other Peopleʼs “Money” CAPITAL Other Peopleʼs “Money” CAPITAL 10
11
Othersʼ Capital Will Allow You To…
7/22/15 Othersʼ Capital Will Allow You To… Use your own resources to invest in riskier, self-funded projects Decrease your and your staffʼs stress levels Find time to reflect, assess, and improve Develop services that can be sustained over the long- term Continue services if budgets are cut Engage in general Do-Gooderism! WHERE TO LOOK FOR CAPITAL Target structural anomalies: new or growing disciplines/offices organizations/ community group new or overlooked rules/ policies
12
WHERE TO LOOK FOR CAPITAL
7/22/15 WHERE TO LOOK FOR CAPITAL Target new initiatives/values
13
WHERE TO LOOK FOR CAPITAL
7/22/15 WHERE TO LOOK FOR CAPITAL Follow the money or other forms of capital WHERE TO LOOK FOR CAPITAL Follow the ambition
14
Make Existing Projects Innovative Investment Vehicles
7/22/15 Make Existing Projects Innovative Investment Vehicles Approach 1: Projects or services that are overstretching you that benefit or could be framed as benefiting other community stakeholders Goals / objectives / commitments that might be reframed as potential investment opportunities Problems you face that might be framed as opportunities for others
15
Conceive New Projects as Potential Investment Vehicles
7/22/15 Conceive New Projects as Potential Investment Vehicles Approach 2: Projects that will attract investors Projects or services that will bring you and your partner a “return on investment” Projects that will solve an investorʼs “unseen” or “hidden” problem Projects that can “fold in” things youʼre already doing or need to do
16
7/22/15
17
Has: Equipment, Skills, People Needs: Social Capital on Campus
7/22/15 Has: Equipment, Skills, People Needs: Social Capital on Campus Has: Access, Secretary, Money, Leads Needs: PromoIonal Materials, Flashy Project
18
Has: AmbiIon, Grant Winning PotenIal
7/22/15 Has: AmbiIon, Grant Winning PotenIal Needs: To ARract Students to Program Will Have: Money for Science IniIaIves Needs: Can Be Shaped
19
7/22/15 Donʼt be “That Guy”
20
7/22/15 Work Group Two Methods for Creating Change 20
21
7/22/15
22
Indirect Approach Indirect Approach
7/22/15 Indirect Approach sophisticated form of “muddling through” next move determined by prior moves Indirect Approach
23
7/22/15 Be willing to … Investor Psychology
24
…arenʼt always “reasonable.”
7/22/15 Reasons… …arenʼt always “reasonable.”
25
7/22/15
26
nemawashi STRATEGIES STRATEGIES educate investors/community about need
7/22/15 STRATEGIES educate investors/community about need cultivate powerful advocates cultivate influential catalysts/opinion leaders/ “sparkplugs” STRATEGIES nemawashi
27
STRATEGIES STRATEGIES generate grassroots support social motivation
7/22/15 STRATEGIES generate grassroots support STRATEGIES social motivation
28
7/22/15 STRATEGIES transfer ownership Work Group
29
References 7/22/15 Donʼt worry. Heʼs a vegetarian!
Douglas, M How Institutions Think. Syracuse: Syracuse University Press. Farrell, R “Other peopleʼs money: Adapting entrepreneurial techniques to build capital in challenging economic times.” College & Undergraduate Libraries, 18(2-3): Farrell, R “Making Change Happen in the Middle.” Journal of the Leadership and Management Section of the New York Library Association, 9(2): 4-18. Kay, J. A Obliquity: Why our Goals are Best Achieved Indirectly. London: Profile Books. Villette, M., and C. Vuillermot From Predators to Icons: Exposing the Myth of the Business Hero. Ithaca, NY: ILR Press.
Similar presentations
© 2024 SlidePlayer.com Inc.
All rights reserved.