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Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
6th Annual Conference of the
Academy of Innovation and Entrepreneurship
Technology and Management for Development (TMD) Centre, University of Oxford
National Entrepreneurship Research Centre, Tsinghua University
Research Centre for Technological Innovation, Tsinghua University
Stumbling Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
Indtryk under to hovedoverskrifter
1. Den globale dagsorden drejer sig (også) om innovation og iværksætteri • Vægten ligger forskelligt
• Udviklingslande• De gamle industrilande• Kina
2. Fortsat udvikling i analyseredskaber og analysekvalitet
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
Dennye dagsorden: Innovation og iværksætteri
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
Innovation og iværksætteriFor udviklingslandene
• Inklusiv innovation – overtager CSR
• Ændringer i politikker og deres effekt på innovation
• Udvikling på bunden af pyramiden.• ”Upgrading” af virksomheder• Effekt af produktinnovation, modifikation eller
procesforbedring• Regering og universiteters rolle i transfer af
teknologi
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
De gamle industrilandesInnovation og iværksætteri
• Strategisk profil og innovationsevne• Hvilke investorer(VC, CVC, mv), der har værdi
hvornår i en ny virksomheds livscyklus• Om radikal innovation eller småinnovation
belønnes med lønsomhed og vækst• Om forskningsstøtte, projekter med universiteter
oversættes til innovation • Social kapital og graden af innovation
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
Innovation og iværksætteriKina
• De store investeringer i R&D viser resultater i patenter og artikler, men ikke i innovation
• Effekten af Joint Ventures, ansættelser af forskere og ansættelser af udenlandske eksperter, ejerskab, ledelsesprofiler
• Væksthæmmere i form af korruption, uhæderlighed og uforudsigelighed
• Innovation i servicevirksomheder• Klyngeudvikling• Børsnoteringer i USA• Opkøb i Europa
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
Fortsat udvikling i analyseredskaber og analysekvalitet
• Komparativ kvalitativ caseanalyse • Semantisk analyse af store dokumentmængder• Tidsserier• Sammenlignende statistikker• Statistik og data fra udviklingslande
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
Reflektion
• Der er etableret megen ny viden om innovation– virksomhedsniveau– brancheniveau– region, nationalt
• Viden i form af– Sammenhænge mellem vækst
og innovation– Iværksættere og vækst– Effekt af udviklingshjælp
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
Contents
1. The research field Born Globals2. Key question in the study3. The study4. Findings5. Implications
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
1. The Research FieldBorn Globals (BG)International New Ventures (INV)
Rask og Servais (2012)
ModeratorsFounders/ Manager’s International Profile
”Searching for a formula for success”
Performance
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
2. Key Question
What are the strenuous issues in the the first years of operation?
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
The study Business
V1 Genetic analysis
V2Rehabilitation equipment
V3Equipment for the OP room
V4 Equipment for research
V5 Equipment for analysis
V6 Consumables
V7 Genetic analysis
V8 Genetic analysis
V9 Research methodology
V10 System for training
V11Equipment for allocation of
medicine
V12Rehabilitation equipment
V13 Protein analysis
V14 Equipment for analysis
V15 Genetic analysis
• Suppliers to health sector• Recruited by snowballing• Born globals
• Business-to-Business
• Financial analysis• Qualitative interviews• Timeline• Identification of stumbling blocks
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
3. Findings; 11 Stumbling Blocks
FinanceUnderstanding the customer organizationSelection of marketing variablesAccess to usersSuppliersIP rightsProduct developmentDelivery processMarket entry modeRecruitmentOrganizational structure
Stumbling Stones for
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
Stumbling block 1Finance
Years of financial reporting
Financial investment
Positive return on
investment
V1 7 External Not realized
V2 3 Bootstrapping Not realized
V3 5 Bootstrapping Yes
V4 12 External Yes
V5 4 Bootstrapping Yes
V6 4 BootstrapExternal Not realized
V7 2 External Liquidated
V8 2 External Not realized
V9 3 External Not realized
V10 4 External Not realized
V11 6 External Not realized
V12 0 None Not realized
V13 5 Bootstrapping Yes
V14 3 External Yes
V15 16 External Yes
• A number of perfoming Born Globals were bootstrapping
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
Number of professions
involved in use and purchase
Number of organizational units involved in purchase
and use
V1 1-2 2
V2 2 3
V3 3 3-5
V4 1 2
V5 3 3-5
V6 2 4
V7 Unknown Unknown
V8 1 2
V9 3 4-5
V10 1 2-3
V11 2 3-4
V12 2 4-5
V13 1 2
V14 2 3-5
V15 1-2 2-3
• Complicated purchase processes
• Time to learn
Understanding the customer organization
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
Selecting marketing variables
Original target group
changed
Several experi-
ments in marketing
Experi-ments with
sales channels
V1 Yes Yes Sequential
V2 Yes Yes Several parallel
V3 No No Several parallel
V4 No No Sequential
V5 No No Several parallel
V6 To some extent Yes Sequential
V7 To some extent Yes Sequential
V8 To some extentTo some extent
Sequential
V9 Yes Yes Sequential
V10 Yes Yes Several parallel
V11 To some extent Yes Sequential
V12 No Yes Sequential
V13 NoTo some extent
Sequential
V14 No No Sequential
V15 No No Sequential
• Changes• Experiments
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
3. Findings; 11 Stumbling Stones
FinanceUnderstanding the customer organizationSelection of marketing variablesAccess to usersSuppliersIP rightsProduct developmentDelivery processMarket entry modeRecruitmentOrganizational structure
Stumbling Stones for
Born Globals
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
4. Implications:”Formula for success” must include:
• Time and resources• Experiments in marketing
• Effective logics versus predictive logics (Dew et al., 2009)
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
Thank you,
Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013
Centre for Applied Research and Development in Business Globalisation
Stumbling Blocks of
Born Globals
3. Findings; 11 Stumbling Stones
FinanceUnderstanding the customer organizationSelection of marketing variablesAccess to usersSuppliersIP rightsProduct developmentDelivery processMarket entry modeRecruitmentOrganizational structure
Stumbling Stones for
Born Globals