Entrepreneurship Entrepreneurship StrategiesStrategies

Training and Development Training and Development

CentersCenters

Investment in People Investment in People DevelopmentDevelopment

ASTD “estimates that U.S. ASTD “estimates that U.S. organizations spend $109.25 billion organizations spend $109.25 billion

on employee learning and on employee learning and development annually….”development annually….”

The Entrepreneurial The Entrepreneurial ApproachApproach

Entrepreneurship + Entrepreneurship + InnovationInnovation

==

Business SuccessBusiness Success

EntrepreneurshipEntrepreneurship

Great training programs are not good Great training programs are not good enough any more…enough any more…

Global Competition

Recent Economic Downturn

Market Pressures

Improved Performance on the

Job

Entrepreneurship Entrepreneurship ConceptsConcepts

• Acquire business-Acquire business-specific knowledgespecific knowledge– Think of one “word” Think of one “word”

that describes your that describes your businessbusiness

– Do you know Do you know enough about the enough about the “word”“word”

– Entrepreneurs Entrepreneurs know their “stuff”know their “stuff”

– Gain business-Gain business-specific knowledgespecific knowledge

• Learning Business Learning Business MechanicsMechanics– Many entrepreneurs Many entrepreneurs

do not have business do not have business degreesdegrees

– Entrepreneurs are Entrepreneurs are passionate about passionate about somethingsomething

– Think of one “word” Think of one “word” that describes what that describes what you are passionate you are passionate about in your careerabout in your career

Entrepreneurship Entrepreneurship ConceptsConcepts

• Learn About Learn About ContextContext– Know the Know the

relationship relationship between social between social context and your context and your businessbusiness

– Identify product and Identify product and service by localeservice by locale

– Foster this Foster this awareness in your awareness in your associatesassociates

• Learn About Learn About CustomersCustomers– Go to great Go to great

lengths to learn lengths to learn about customers about customers on a macro level on a macro level

– Gear your Gear your products and products and services to their services to their preferencespreferences

Entrepreneurship Entrepreneurship ConceptsConcepts

• Learn about the CompetitionLearn about the Competition• Study PeopleStudy People• Study Leadership PrinciplesStudy Leadership Principles• Reflect on Company ValuesReflect on Company Values• Learn How to Create Learning Learn How to Create Learning

SystemsSystems

Learning at Top SpeedLearning at Top Speed

Organizations and jobs will never be the Organizations and jobs will never be the same. same.

With all the downsizing, outsourcing and With all the downsizing, outsourcing and team building, responsibility and team building, responsibility and

accountability are being downloaded to accountability are being downloaded to individuals…many of whom do not have individuals…many of whom do not have the skills to be successful. On the job the skills to be successful. On the job

performance is being accelerated.performance is being accelerated.

Innovative ManagementInnovative Management

““Innovative management is no long just Innovative management is no long just about new products or services: It about new products or services: It encompasses new business models, encompasses new business models, new organizational forms and new new organizational forms and new

partnerships between organizations.”partnerships between organizations.”

Chief Learning Officer, January 2010Chief Learning Officer, January 2010

Take Your Unit’s PulseTake Your Unit’s Pulse

• Do you have a clear-Do you have a clear-cut business plan? cut business plan?

• Do you make decisions Do you make decisions based on data?based on data?

• Is your unit making Is your unit making necessary changes to necessary changes to grow and sustain?grow and sustain?

• Do your resources Do your resources support your support your customers’ needs?customers’ needs?

• Do you reward Do you reward innovation?innovation?

Value of InnovationValue of Innovation

• Speed to MarketSpeed to Market• Business DesignBusiness Design• Process ImprovementProcess Improvement• Acquisitions for ExpansionAcquisitions for Expansion• Breakthrough ProductsBreakthrough Products

Make Data-Driven Make Data-Driven DecisionsDecisions

• Manage DataManage Data– Set Profit GoalsSet Profit Goals– Survey Survey

StakeholdersStakeholders– Evaluate Profit Evaluate Profit

Margins by Margins by product, service, product, service, client, etc.client, etc.

– Evaluate resourcesEvaluate resources

• Use DataUse Data– Scrap “Low Value” Scrap “Low Value”

products, services, products, services, clients, etc.clients, etc.

– Match right people, Match right people, right jobs, right right jobs, right skillsskills

– Develop a Score Develop a Score CardCard

Gather DataGather Data

• Survey Your Business ImageSurvey Your Business Image• Know Your CustomerKnow Your Customer• Benchmark the CompetitionBenchmark the Competition• Analyze RisksAnalyze Risks• Evaluate OpportunitiesEvaluate Opportunities• Establish an Aggressive Establish an Aggressive

Business PlanBusiness Plan

Learning from Learning Learning from Learning DataData

• Employees without access to learning are 300 percent Employees without access to learning are 300 percent more likely to leave their employer within one year, more likely to leave their employer within one year, according to "The Financial Impact of Education and according to "The Financial Impact of Education and Training" study. Training" study.

• Experts estimate the average cost of replacing an Experts estimate the average cost of replacing an employee approximates 150 percent of his or her employee approximates 150 percent of his or her annual salary. So, a company may find that the money annual salary. So, a company may find that the money it saves from employee retention justifies the cost of its it saves from employee retention justifies the cost of its training initiatives. training initiatives.

• Employees also ranked "learning new skills" third Employees also ranked "learning new skills" third (after opportunities for advancement and job redesign) (after opportunities for advancement and job redesign) when they were asked what non-compensation-related when they were asked what non-compensation-related factors were most important in keeping them at their factors were most important in keeping them at their organization.organization.

Entrepreneurship and Entrepreneurship and Innovation…Best PracticesInnovation…Best Practices

• Admit and Learn from MistakesAdmit and Learn from Mistakes• Find Experts to know what you don’t knowFind Experts to know what you don’t know• Share Information with partnersShare Information with partners• Ask for Referrals from everyoneAsk for Referrals from everyone• Engage New Corporate and Community Engage New Corporate and Community

RelationshipsRelationships• Use Social Networking ResourcesUse Social Networking Resources• Assist Your Clients Make Data-Driven Assist Your Clients Make Data-Driven

DecisionsDecisions• Invest in Innovative IdeasInvest in Innovative Ideas

Re-Engage and Revive theRe-Engage and Revive theOrganizationOrganization

• Inspire Despite Inspire Despite SetbacksSetbacks

• Create Your Own Create Your Own “Think Tank”“Think Tank”

• Cross-Train Cross-Train EmployeesEmployees

• Reward Great Reward Great IdeasIdeas

• Evaluate Evaluate PartnershipsPartnerships

• Set Aggressive Set Aggressive GoalsGoals

• Challenge StaffChallenge Staff• Collaborate, Collaborate,

Collaborate, Collaborate, CollaborateCollaborate

Crazy Successful IdeasCrazy Successful Ideas

• Cell PhoneCell Phone• Laptop ComputerLaptop Computer• Hybrid AutoHybrid Auto• Social NetworkingSocial Networking• IPodIPod• Internet RetailInternet Retail• Online Dating ServiceOnline Dating Service• Virtual OfficesVirtual Offices• Virtual ClassroomsVirtual Classrooms• Green ProductsGreen Products

ResourcesResourcesInstitute of Certified Professional ManagersInstitute of Certified Professional ManagersJames Madison University, MSC 5504,James Madison University, MSC 5504,Harrisonburg, Virginia 22807Harrisonburg, Virginia 22807Phone: 800-568-4120 Web: Phone: 800-568-4120 Web: www.icpm.bizwww.icpm.biz ©2008 Institute of Certified Professional Managers, All Rights Reserved©2008 Institute of Certified Professional Managers, All Rights Reserved

Chief Learning OfficerChief Learning OfficerJanuary 2010January 2010www.CLOmedia.comwww.CLOmedia.com

Workforce ManagementWorkforce ManagementDecember 14, 2009December 14, 2009www.workforce.comwww.workforce.com

Training + DevelopmentTraining + DevelopmentJuly 2009July 2009www.astd.orgwww.astd.org

For more For more information…information…

www.ucpdi.comwww.ucpdi.comCheryl BrueggemanCheryl Brueggeman

Assistant Dean, Workforce DevelopmentAssistant Dean, Workforce DevelopmentUC Raymond Walters CollegeUC Raymond Walters College

Professional Development InstituteProfessional Development Institutecheryl.brueggeman@uc.educheryl.brueggeman@uc.edu