Posted

Thursday, January 22, 2009

Friday's plenary session began with warm welcomes from USASBE President Dr. Jeffrey Alves and Anaheim Mayor Curt Pringle. Following the opening, participants were treated to the inspirational and energetic words of keynote speaker Dr. Donald Kuratko of Indiana University. Rather than impart his impressive knowledge garnered from 28 years of study and publication of over 160 articles and 24 books, Dr. Kuratko decided to focus on the audience, “My presentation is really going to be about you.” Under the umbrella theme of “Advancing the theory, Process, and Practice of Entrepreneurship: Our Challenge…Our Vision,” he encouraged audience members to be “zealots and guardians” of entrepreneurship. He described how the vibrant grassroots efforts by “academic pioneers” (many of whom were in attendance) in the 1980s “debunked the mythology of entrepreneurship” and contributed towards its perception as a serious discipline. The work of these and other early champions led to an astounding increase in formal university entrepreneurship programs from just six in 1980 to around 3,000 today.

The mid-afternoon breakout session Ideablob: Where Entrepreneurs Meet to Plan Our Future began with one ounce of thought-provoking blobbiness (silly putty) both handed-out and thrown. This unconventional opening was intended to emphasize Ideablob's message of ‘Share your thoughts. Mold your ideas.' Ami Hassan, the main presenter, described the site as “giving students access to airline conversations on steroids;” instead of input from one individual, you hear from thousands who share their ideas, ask questions, give advice, and vote for ideas they find interesting.

IdeaBlob not only enables young and old entrepreneurs alike to refine their ideas, it also provides practical lessons. Hassan explained, “Students need to learn how to build their personal brand and aspiring entrepreneurs must be able to articulate their value proposition in 140 characters or less.” By harnessing the tools and knowledge of this community, they can do both. The use of IdeaBlob, in conjunction with other social media sites such as Twitter and Facebook, empowers students to leverage their social networks to get feedback and advice on ideas. It also teaches them the value of viral and virtual marketing. In terms of relevance to professors, IdeaBlob provides an innovative way to bring web 2.0 to the classroom. The next generation of entrepreneurs will require a curriculum that teaches them how to use web resources effectively and IdeaBlob represents one way to do so. In the words of Hassan, “We have to remember that we're teaching students for jobs that don't exist yet.” That means a step beyond Powerpoint and paper.

Leading IT and small business researchers joined university professors yesterday in a panel discussion to share the research and insights into IT strategies and investments for lean economic times. The expert panel included Mr. Barry Jennings, lead SMB researcher from Dell Inc; Dr. CharlesMatthews, President of ICSB; and Mr.DennyDennis, Manager and Series Editor for the SME Polls from the National Federation of Independent Businesses (NFIB).

One would expect that a prominent Silicon Valley venture capitalist such as Tim Draper would assume the stage in a reserved fashion, armed with slides of mathematical figures on entrepreneurs and proven strategies for success. Mr. Draper of Draper Fisher Juvertson has supported such star companies as Skype, Baidu, and Hotmail. Yet, despite his imposing stature and nickname of “Superman”, he opened his keynote address in a down-to-earth manner. His discussion centered on innovation and took the form of an informal conversation with the audience. Mr. Draper described the exponential growth of change and innovation and remarked that “The level of innovation that has occurred in the past one hundred years will now happen in twenty, and, in the near future, maybe just two.” New behaviors and patterns of socialization will emerge and, with them, limitless possibilities for entrepreneurs in every sector. Mr. Draper also gave a sneak peak of possible future inventions that varied from genetic disease prevention to 3-D On Demand Entertainment.

Mr. Draper also warned of the “price of pessimism.” Here, he broke out the charts to illustrate the opportunity cost of “playing it safe”—regardless of external environment. To reinforce his point, he linked the first appearance of industry giants such as Kodak and HP with economic downturns. He also divulged a VC secret for capitalizing on resources during tough times; companies that eliminate part of their income statement or balance sheet can realize significantly more returns. He referenced Amazon's elimination of inventory and Hotmail's elimination of marketing expenses as prime examples. And if the audience still remained unconvinced of the value in taking risks, Mr. Draper's subsequent song and dance routine to his own ditty, “The Risk Master,” converted—or at the very least entertained—conservatives.

The first annual joint session with USASBE and the Academy of Management was held during the afternoon breakout sessions yesterday to the theme of ‘Enabling Entrepreneurship Research Excellence: A Hands-on Approach.' This newly formed relationship is rooted in the best practices of entrepreneurship research and the desire of both organizations to ignite the growth of entrepreneurial scholars. As stated in the conference program, a special USASBE session will take place at upcoming AOM meetings while an Academy session will be featured at upcoming USASBE meetings. Together both organizations aim to foster and facilitate entrepreneurship by presenting both a pedagogical and research focus. Panelists in the session included Michael Morris, Incoming President of USASBE; Ronald Mitchell, ENT Division Chair at the Academy; Timothy Stearns, ENT Division Immediate Past Chair; Rich Dino, Research Excellence Committee Co-Chair.

As Dr. Morris stated, ‘Research lies at the heart of USASBE and the tradition of developing quality entrepreneurship outreach, teaching, and pedagogy programs represents the real strength of the organization.' This approach fits in well with the Academy of Management's ENT Division, who provides invaluable resources for the growth of entrepreneurial scholars. The strategic partnership that has been featured here in Anaheim will undoubtedly assist in the continuing mission of both organizations to raise the bar on entrepreneurial research.

The USASBE Workshop on 3E Learning—Advancing Entrepreneurship Education: Clearinghouse of Best Teaching Practices showcased innovative methods developed by educators to instruct students in the ways of entrepreneurship and small business. Finalists for the 2009-2010 3E-Learning competition (Entrepreneurial Experiential Exercises) presented unique approaches to teaching that ranged from games to experiments. Examples of some of these intriguing projects included micro-financing loans for student start-ups, a $10 business challenge, and business plan development teams.

The upcoming ICSB 2009 World Conference will be held from June 21-24 in the business hub of Seoul, Korea. The Conference is set to take place at the Convention and Exhibition Center (COEX) and will be hosted by ICSB-Korea and Korean Small Business Institute (KOSBI). Under the theme of ‘The Dynamism of Small Business: Theory, Practice, and Policy,' the conference will explore issues related to the life cycle of SMEs. With an already strong presence of committed Wilford White Fellows' and international scholars, the 2009 ICSB World Conference is sure to provide one of the most enriching and complete programs to date. Distinguished experts from all corners of the globe will convene on the city to develop strategies targeted towards the advancement of small business and entrepreneurship.

The city of Seoul is one of the most developed in the world with a population of about 10 million, yet sits in a natural basin surrounded by mountains. The mayor of Seoul, Se-hoon Oh, guarantees that guests and participants “will be impressed with state-of-the-art convention facilities and a vibrant city where 600 years of tradition and cutting-edge IT meet.” All ICSB members and affiliates are encouraged and invited to participate. After Korea, the ICSB World Conference will travel to Cincinnati, Ohio in 2010 and Stockholm, Sweden in 2011. Please visit http://www.icsb.org/ for more details.