Ideas and Entrepreneurs

Innovators and entrepreneurs. People who embody creativity, determination, and brilliant ideas. In this blog, I endeavour to explore where brilliant ideas come from and what environments are conducive to yielding ideas. Furthermore, I look as to why there isn’t a societal mold for entrepreneurs that many other business professions have.

When I first thought of having an idea, like most other people, I thought about a single instant. A sudden Eureka moment of clarity. However, in actuality brilliant ideas are a by-product of long incubation periods. As described by Steven Johnson, often “{someone} has a brilliant idea that lingers on in the back of {their} mind for, sometimes, decades. They have a feeling there is an interesting problem, but they don’t quite have the tools yet to discover them”. This long incubation period is consistently overlooked and the idea accredited to an epiphany. An example of this is Darwin, who wrote in his autobiography that his idea for natural selection came to him on an October night whilst he read Malthus and Darwin exclaims “at last I have a theory of which to work”. However, two decades ago Howard Gruber read through Darwin’s copious supply of notebooks and found that Darwin had the full theory of natural selection years before he had his alleged epiphany.

Charles Robert Darwin (https://pixabay.com/en/charles-robert-darwin-scientists-62911/)

Given that ideas are not conceived in the spur of the moment, what environments are conducive to incubating these thoughts? Steven Johnson looked into this further and found that the majority of ideas were formulated within a “Liquid Environment”, or a place of open idea sharing. The coffee house, a perfect example of a liquid network in 15th century England was the birthplace of numerous ideas as the “the power brokers of their time gathered to sip caffeine-fueled coffee and tea, discuss their challenges, and come up with innovative ways to solve them.”(Kaneshige).

Hogarth’s Give Us Our Eleven Days, Liquid Network (https://commons.wikimedia.org/wiki/File:William_Hogarth_028.jpg)

With an understanding of how ideas form and which environments facilitate them, we can observe ideas in the context of innovators and entrepreneurs. It is immediately evident that entrepreneurs do not conform to some societal stereotype about shape, size or personality. Entrepreneurs are a unique breed who battle through adversity to achieve their goals. This adversity can come in many forms, whether it’s: Vladimir Gendelmen who immigrated from the Soviet Union with $500 to his name, or Scott Lee who was forced into the Korean military, or perhaps, Mary-Beth Hyland who was repeatedly raped and violently abused by her father. The point being, the ones who create and make disruptive waves that shake the industry are often the ones who have battled through hardship in their own life. Entrepreneurs and innovators, as we discussed in class, are “fundamental to the business world” (Darryl Kopke).

 

Word Count: 449 words

References:

https://www.ted.com/talks/steven_johnson_where_good_ideas_come_from#t-458883   (Steven Johnson, TedGlobal)

https://www.lendgenius.com/blog/10-entrepreneurs-inspiring-stories-of-startup-success/

http://www.nytimes.com/1974/07/14/archives/darwin-on-man-a-psychological-study-of-scientific-creativity-by.html (Howard Gruber, New York Times)

https://www.cio.com/article/2376694/innovation/how–liquid-networks–can-lead-to-the-next-great-idea.html

 

 

 

 

Strategy: In Sport and Business

Strategy. A concept that transcends almost all facets of life. Broadly defined as: a plan of action designed to achieve a long-term or overall aim, its application in everyday life manifest itself in a variety of ways. I endeavor to touch upon two of them: business and sport.

https://pixabay.com/en/chess-figure-game-play-board-1215079/ (Pixabay)

Strategies in business and sport share many similarities in terms of their application and purpose. The fundamental goal of a strategy is to elevate you, whether your company or team, to a common end-goal. In order propel yourself towards your goal you must think and act uniquely. As Michael E. Porter of the Harvard Business Review says: “competitive advantage is about being different”. Obviously, a competitive advantage for a business would differ from a competitive advantage for a sports team, but it’s the process behind the strategy that rings true for both. Southwest Airlines are an example of a business who have effectively created a competitive advantage for themselves. Through cheap, convenient and domestic flights they were able to isolate a niche of the market that consisted mostly of business travellers and students. Alternately, as I play field hockey for Canada (a team that is currently ranked no. 11 in the world) we have to adapt our playing style to a more work-ethic oriented style because we lack the skills of the top 10 teams. This playing style frustrates better teams, as it is unfamiliar to them. That is our advantage.

https://pixabay.com/en/southwest-airline-transportation-730505/ (Pixabay)

However, as we learned from the Transient Advantage model by Rita McGrath, these competitive advantages are momentary. In the context of field hockey, this is displayed by teams who utilise our hard-work based strategy when playing higher ranked teams, as they’ve seen it work for us. This puts teams and companies in a predicament: do we keep our old strategy as it worked in the past or do we innovate and find a new competitive strategy? McGrath is adamant that ‘business is stuck’ trying to find a permanent competitive advantage, and that for the most part a competitive advantage has completely eroded after 5 years. The erosion of competitive advantages is applicable to both sport and business.

Jan Huckendubler, Junior World Cup

Strategies are essential to both a good business and a good team. But a good leader will understand that a strategy is not infallible. They must innovate and advance their strategy so it doesn’t become stale within a competitive environment.

 

Word Count: 396

References:

https://courses.library.ubc.ca/studenthome/id/88322/open/72552 (Michael E. Porter, Harvard Business Review, What is Strategy?)

https://courses.library.ubc.ca/studenthome/id/88322/open/72560  (Rita McGrath, Harvard Business Publishing, Transient Advantage)

https://en.oxforddictionaries.com/definition/strategy

 

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