my background education –2004-2007 nanyang technological unversity awarded master of strategic...
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My Background
Education
– 2004-2007 NANYANG TECHNOLOGICAL UNVERSITY Awarded Master of Strategic Studies
– 2002-2004 UNIVERSITY OF WESTERN AUSTRALIA Awarded Master of Management Research with distinctions in all
modules. Candidate for Doctorate of Business Administration on Innovation & Entrepreneurship
– 19981999 NATIONAL UNIVERSITY OF IRELAND Awarded Master of Science (Finance)
– 1982- 1985 NATIONAL UNIVERSITY OF SINGAPORE Awarded Bachelor of Science in Biochemistry, Microbiology &
Economics
Professional
• 2004 - 2007 – Senior Lecturer at SAFTI Military Institute – Conduct seminars on Strategic Studies, Operational Art, Science and Technology,
Leadership Ethics and Command, Control and Communication
• 2000-2003 – Directing Staff of Singapore Command & Staff College– Develop mid-career professionals in Strategy, Leadership Ethics, Organization
Management, Operational Planning, Operational Art, Technology Management, Command Control and Communications, Team Building, Learning Organizations, Public Speaking and Media Management
• 1997-1999 – Head Current Operations at Joint Comms and Info System Department
– Develop and review Armed Forces wide Communication Systems and Policies. Oversee all Armed Forces level contingency planning including emergency operations and United Nation Missions
• 1996 - 1997 – Head Operations, HQ Signals– Oversee the planning, implementation and management of all Command Control Systems
for the entire Army which includes advance switching systems, IT
Strategy as an aligning nexus between Innovation and
Entrepreneurship Biotech Industry at Massschusetts
Aim
The aim of this research is to elucidate an understanding of the relationship between firm performance and strategy, innovation and entrepreneurship among high-technology Small and Medium Enterprises (SMEs) in the biotechnology industry at Massachusetts
Basic Premise
• There is a nexus between strategy, innovation and entrepreneurship and firm performance of SMEs in the biotechnology industry
• There are overlaps in current literature on Innovation and Entrepreneurship
• The aligning nexus is Strategy
Research Questions
• What are the dimensions of Strategy, entrepreneurship and innovation and to what extent do they contribute to the high-tech biotechnology firm performance?
• What evidence is there of a nexus between the entrepreneurial orientation and innovation?
• What evidence is there that the nexus is aligned by Strategy and brings about superior firm performance?
Focus• Firm level• Biotech• SMEs• Innovation - Porter’s study on innovative capacities, Clayton Christensen’s
disruptive innovation, EU Community Innovation Survey as well as several resource-based and new product development approaches
• Entrepreneurial orientation Lumpkin (1998) that identified a set of five distinct dimensions:
– product/service innovativeness, a tendency to support creativity and experimentation in introducing new products/services;
– process innovativeness, a willingness to support novelty and technological research in developing new processes;
– risk taking, a willingness to take bold actions with uncertain outcomes;– proactiveness, a forward-looking perspective involving acting in anticipation of
future demand or change; – competitive aggressiveness, a tendency to be forceful and combative in efforts to
outperform industry rivals.• Strategy
Relevance of Research
• Countries have limited resources and therefore need to maximize the returns on every dollar spent
• How can countries determine an appropriate mix of strategies, innovation factors and capabilities and entrepreneurial knowhow to support the growth of firms in such industries?
Definitional Challenges• Innovation is ‘A process through which economic or social
value is extracted from knowledge through the generation, development, and implementation of ideas to produce new or improved products, processes and services’
(Conference Board of Canada)• “Entrepreneurship, in its narrowest sense, involves capturing
ideas, converting them into products and, or services and then building a venture to take the product to market”
(Johnson, 2001 )• The key elements of entrepreneurship include risk taking,
proactivity and innovation (Miller, 1983)
• ‘Innovation is the specific tool of entrepreneurship by which entrepreneurs exploit change as an opportunity for a different business or service
(Schumpeter, 1934)
• The EU Green Paper defines innovation as ‘the renewal and enlargement of the range of product and services and associated markets, the establishment of new methods of production, supply and distribution and the introduction of changes in management, work organization, and working conditions and skills of the work force’
(EC 1995)
Massachusetts Biotechnology Industry
• 400 biotechnology companies • Of which 235 are developing therapeutic
drugs • $5 billion of in-state payroll • 50 large molecule drugs covering a range
of illnesses • Nearly 1,769 drugs being developed in
Massachusetts, representing over 7 percent of the global drug pipeline
Methodology
• Face-to-face questionnaire survey
• Case Studies to triangulated
• Questionnaire is adapted from entrepreneurial orientation, Community of Innovation Survey (CIS-III) and relevant constructs from the new product development studies
New Product Development
Opportunities
Market ConditionsTechnological Conditions
ExecutionHomework ActivitiesMarketing ActivitiesTechnical ActivitiesProject Organisation
Company Environment
Marketing SynergiesTechnical SynergiesTop Management SupportPerceived RiskCustomer KnowledgeInfluence on Market R&DInfluence on Firm R&D
OutcomeProdAdv
(Cooper & Kleinschmidt 2000)
NPD
Cross –FunctionalIntegration
NPDTeam Proficiency
Customer Orientation
Initiation
Implementation
New Product Performance
Strategic and Organisational Antecedents
NPD Process Factors NPD Outcome
Subin Im et al. (2003)
Proposed Model for Innovation Intensity
Govt Markets SuppliersInstitutionsNational Infra
InnovationOutputs
Innovation Process
Innovation Inputs
FirmPerformance
R&DS&E EmployeesTrainingLicensesFixed Assets
Decision to innovate
CollaborationStrategy/MissionNPD Initiation*NPD Implementation*NPD Cross-Functinal Integration *Customer Orientation *
New ProductsProductivityPatents
Proposed Research Model for Innovation Intensity – Adapted from the CDM(Crepon et al. 1998)
and New Product(Subin Im et al. 2003) Research Model
Entrepreneurial Orientation
Environmental Factors
DynamismMunificenceComplexityIndustry Characteristics
Entrepreneurial Orientation
AutonomyInnovativenessRisk TakingProactivenessCompettive Aggressiveness
Performance
Sales GrowthProfitabilityOverall PerforamnceStakeholder satisfaction
Organisational Factors
SizeStructureStrategyStrategy-making processFirm resourcesCulture
( Lumpkin & Dess, 1996)
Proposed Research ModelAutonomy
Enterpreneurial Orientation
Innovation Outputs
Firm Perfomance
Risk Taking
Proactiveness
Competitive Aggressiveness
Innovativeness
Innovation Inputs
InnovationProcesses
Mkt Share
ROI
% NPD Sales
Figure 5: Research Model (adapted from CIS, NPD, Entrepeneurial Orientation
Product
R&DS&E EmployeesTrainingLicensesFixed Assets
CollaborationStrategy/MissionNPD Initiation*NPD ImplementationNPD Cross-Functinal Integration *Customer Orientation
EO Hypotheses
• Hypothesis 1: The greater the proportion of a firm’s autonomy, the greater that firm’s potential for success.
• Hypothesis 2: The greater the degree of proactiveness of a firm, the greater the firm’s potential for success.
• Hypothesis 3: The greater the degree of risk taking by the firm, the greater its potential for success.
• Hypothesis 4: The greater the degree of competitive aggressiveness of a firm, the greater that firm’s potential for success.
• Hypothesis 5: The greater innovativeness of the firm, the greater the firm’s potential for success.
Innovation Hypotheses• Hypothesis 6: The greater the proportion of a firm’s total
expenditure on R&D, the greater that firm’s performance.• Hypothesis 7: The greater the proportion of Science
and Engineering personnel employed by a firm, the greater that firm’s performance.
• Hypothesis 8: The greater the degree of collaborative intensity between firms, the greater the performance of those collaborating firms.
• Hypothesis 9: The greater the degree of collaborative intensity with universities/research institutions by a firm, the greater that firm’s performance.
• Hypothesis 10: The greater a firm’s customer orientation, the greater its performance.
• Hypothesis 11 The better the firm’s NPD process( initiation and implementation), the greater its performance
Strategy
Vision and Mission
External AnalysisOpportunities and Threats
Internal AnalysisStrengths and Weaknesses
Strategic ChoiceSWOT
Organizational Structure
Designing Control Systems
Business Strategy
Strategy Implementation/Tactics
Feedback
Succession Planning
Strategic Planning
Copyright Biz/ed 2006
Strategy Analysis
Copyright Biz/ed 2006
Types of Strategy
Strategic Culture
Copyright Biz/ed 2006
Data Analysis
• Structural equation modeling (SEM) is the primary method used to estimate the significance and strength of the relationships between the different elements in the model
• Case studies is in line with the ‘pattern matching’ method suggested by (Campbell 1975) and (Yin 1994)
End
Book on the Science and Art of Strategy, Innovation & Entrepreneurship
Art
Science
Coup d’oeil
Asymmetry
Anticipation
Agility
Flexibility
Integration
Leadership
Culture
Sense-Making
Risk taking
Networking
Negotiating
Analysis & Synthesis
Combinational Art
Trend Setting
Sensing
Open Systems
Interactions
Adaptation
PESTEL
SWOT Analysis
Ends, Ways and Means
Strategic Planning Model
Vision, Mission & Objectives
Resources Mgt
Balance Scorecard
Lean
Six Sigma
Technology Mgt
Systems of Systems
Integration
NPD
StrategyEntrepreneurshipInnovation
Science and Art of Innovation, Entrepreneurship and Strategy
Science of Innovation
• Science
• Technology Management
• Systems of Systems
• Integration
• NPD
Art of Innovation
• Analysis and Synthesis
• Combinational Science
• Trend Setting
• Sensing
• Open Systems
• Interactions
• Adaptation
Science of Entrepreneurship
• Resource Management
• Balance Scorecard
• Lean
• Six Sigma
• Efficiency
Art of Entrepreneurship
• Leadership
• Culture
• Sensing
• Risk taking
• Networking
• Negotiating
Science of Strategy
• Vision, Mission and Objectives
• PESTEL
• SWOT Analysis
• Ends, Ways and Means
• Strategic Planning Model
Art of Strategy
• Coup d’oeil
• Asymmetry
• Anticipation
• Agility
• Flexibility
• Integration
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Art
Science
Coup d’oeil
Asymmetry
Anticipation
Agility
Flexibility
Integration
Leadership
Culture
Sense-Making
Risk taking
Networking
Negotiating
Analysis & Synthesis
Combinational Science
Trend Setting
Sensing
Open Systems
Interactions
Adaptation
PESTEL
SWOT Analysis
Ends, Ways and Means
Strategic Planning Model
Vision, Mission & Objectives
Resources Mgt
Balance Scorecard
Lean
Six Sigma
Technology Mgt
Systems of Systems
Integration
NPD
StrategyEntrepreneurshipInnovation