101
0
EXPLORING THE FUNCTIONS OF BUSINESS
TODAY
Eytan
Lasry,
Atkinson
232,
416.736.2100
eytan@yorku.ca
x.
22878,
Agenda
• Group Debates
• Entrepreneurship & innovation • Knowledge creation
• New economy
Group debates 1. Bangladeshi garment workers 2. Temporary foreign workers 3. Corporate tax cuts
Week 1. Getting engaged: Introduction to critical thinking and contemporary business issues
Week 2. So, you want to be a manager
(MANAGEMENT)
Week 3. Getting organized (ORGANIZATION
THEORY)
Week 4. Current issues, future challenges (ETHICS;
CSR; SUSTAINABILITY; EMERGENCY MGMT)
Week 5. Questions of value (ECONOMICS;
STRATEGY)
Week 6. MIDTERM EXAM
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Week 12. Course review and exam preparation COURSE MAP
Entrepreneurs hip &
Innovatio
The
Discipline of • Entrepreneurial personality vs. systematic practice of
Innovation
innovation
• Entrepreneurship:
– Creating new wealth-producing resources, or, endowing existing resources with enhanced potential for creating wealth
– Not age or size, but a certain type of activity -> Innovation is at the heart of
Innovation opp’s • Within company or industry:
1. Unexpected outcomes
•
Unexpected successes or failures (i.e. accidents) 2. Incongruities
•
•
Incongruous = mismatch
Incongruities in process; economic realities; expectations/results 3. Process needs
•
Solves a problem in process or system
4. Industry and market changes
•
Structural changes or rapid shifts
(Continued)
Innovation
opp’s
• Outside a company (in the
social/intellectual environment)
5. Demographic changes
•
Demographics = quantifiable statistics of a given population (age distribution, education, occupations, geographic location, etc.)
6. Changes in perception
•
•
Glass half-full vs. glass half-empty
Does not alter facts, but changes their meaning
7. New knowledge
•
Advances in scientific, technical, or social knowledge Principles of
1. Analysis of the sources of innovation new opportunities
2. Go out, ask, listen:
–
–
Right & left brain
Figures & people
•. Simple and focused
•. Start small
“…when all is said and done, what
innovation requires is hard, focused, purposeful work. If diligence, persistence, and commitment are lacking, talent,
Knowledg e “…the one sure source of lasting competitive is knowledge.”
“…the ‘knowledge-creating’ company, whose sole business is continuous innovation.” Knowledge types
• Formal knowledge:
– Hard (quantifiable) data, codified procedures, universal principles – Written down, documented, explicit
– Mechanistic & systematic
– “Western” orientation
• Tacit knowledge:
– Tacit = understood or implied without being stated
– Highly personal, difficult to formalize & communicate
– Composed of:
• Technical dimension: Master-craftsperson’s informal experience and “know-how”
• Cognitive dimension: Mental models, beliefs, perspectives
– “Eastern” orientation
Spiral of Knowledge-creation knowledge: patterns
• Tacit to tacit:
– Apprenticeships; Craft-socialization
– Limited knowledge transfer (Master to apprentice) – Combine discrete pieces of explicit knowledge into new whole
– Does not extend existing knowledge base
• Tacit to explicit:
–