Instilling The Entrepreneurial Spirit at Toyota.ppt

					 Entrepreneurship

Boot Camp Overview




                     Lloyd Greif Center
                     for Entrepreneurial Studies
Why is Entrepreneurial
 thinking important?



                    Lloyd Greif Center
                    for Entrepreneurial Studies
Why do we need to think differently?
Because “The World Has Changed”



       “Wealth in the new regime flows
         directly from innovation, not
      optimization; that is, wealth is not
     gained by perfecting the known, but
     by imperfectly seizing the unknown.”
    Kevin Kelly,
   “New Rules for the New Economy, Wired
                                           Lloyd Greif Center
                                           for Entrepreneurial Studies
Because “The World Has Changed”



      “Wealth in the new regime flows directly
        from innovation, not optimization;
                        that is, wealth is
     not gained by perfecting the known,
   but by imperfectly seizing the unknown.”

   Kevin Kelly,
  “New Rules for the New Economy, Wired
                                             Lloyd Greif Center
                                             for Entrepreneurial Studies
             Why Entrepreneurship?
 Because the Old Models are broken

Fortune Magazine – October 2nd, 2006
The great challenge of our era? Getting companies to change
quickly enough to survive a world that's crazier and riskier than ever.

Bill Ford finally joined the club just before Labor Day weekend. That's
when he became the latest chief executive of a giant corporation to cop
publicly to the most fundamental and alarming of business problems:
His business model doesn't work anymore.

He did it in an e-mail to all of Ford Motor's employees, saying,
"The business model that sustained us for decades is no longer
sufficient to sustain profitability."

                                                            Lloyd Greif Center
                                                            for Entrepreneurial Studies
London Times
   From the




               Lloyd Greif Center
               for Entrepreneurial Studies
     New Venture Executive
            be a senior executive, joining
                   a small team,
   extracting commercial value from our technology
an individual who can challenge conventional
       thinking to identify opportunities.
 Promote our expertise, build productive partnerships,
             find new opportunities
       and lead the formation of New Ventures”

                                             Lloyd Greif Center
                                             for Entrepreneurial Studies
       Chief Growth Officer

Avery, Dennison
 • Our Corporate Leadership Team has created a new
 and innovative role
 •This position is well suited for some who has been or is
 currently an entrepreneur. (TJO Added – or can think and
 act like one)
 •Reason for role: Group VPs are day to day operations
 but are not very focused to fill the gaps.
 •$ 300 to $400K to start plus bonus +benefits
                                               Lloyd Greif Center
                                               for Entrepreneurial Studies
 What is the difference
      between an
enterprising, innovative
       manager
        and an
    entrepreneur?
                     Lloyd Greif Center
                     for Entrepreneurial Studies
 Know the reality of an E journey
Entrepreneurship is a journey (not an event)
  It is about running a marathon and not about getting to the start line.

Profile of successful entrepreneurs
• 2.3 ventures
• 3 to 5 years of industry experience
• 4 to 7 years after an educational experience
More ventures start from pain and need than come
  from the great idea (Vitamins versus Cipro)
You need to meet to 250 strangers
                                                          Lloyd Greif Center
                                                          for Entrepreneurial Studies
 You will learn to think in a different way

Entrepreneurship requires a different way of looking at
the world. How, when and where you use these new
skills sets are for you to decide.

You will demonstrate as part of this boot camp, the
ability to identify, define, test and deliver a viable
concept.

Your concept will be structured using selected tools of
Feasibility. It will be executed using the Business Plan.

                                                  Lloyd Greif Center
                                                  for Entrepreneurial Studies
  What are the reality of start ups
 Interview 100 individuals who want to start
   a business and don’t, and ask why not?

• I never had the great idea, the killer app
• I couldn’t give up my day job,
   (mate won’t let me)
• Never found anyone to give me a $million
  bucks
                                     Lloyd Greif Center
                                     for Entrepreneurial Studies
Two final thought ……..

 # 1 Process versus
      Structure


                   Lloyd Greif Center
                   for Entrepreneurial Studies
#2 Are You CEO Material
How many of you are prepared or have
already made the mind change to be a
     CEO of an important entity?
  You already are the CEO of a great
  company and it is called


          YOU, Inc
                               Lloyd Greif Center
                               for Entrepreneurial Studies
Tom O’Malia
Orfalea Chair for Entrepreneurial Studies
213.821.0917
213.713.5764 cell
tomalia@usc.edu



Lloyd Greif Center
Marshall School of Business
University of Southern California
Bridge Hall One
Los Angeles, CA 90089-0801
                                    Lloyd Greif Center
                                    for Entrepreneurial Studies

				
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