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Financing Creativity
Abstract
This chapter points out the role of the various institutions involved in the financing of Science and Hi-Tech. The emphasis is on their impact upon management and upon national policy. The role of Venture Capital, Charitable Foundations, and R&D funding by government agencies is the focus.
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With the development of new technologies, there is a reasonable question about the destiny of management as a science. It should be taken into mind that management is a technology, highly sophisticated one and the technology that manages mutual work in order to achieve defined goals. The question is whether the management is going to withdraw from the new, and before all information technology and in what measure. This question is not baseless, because the new technologies multiply prospered, and management, with small cosmetic changes and advancement stayed at the level as it had been decades ago. Maybe the biggest problem with the relationship between management and technology is in adequate understanding of this relationship, namely, technology should not manage people, but people should manage technology. Maybe the word "should" can be replaced with the word "must", as an imperative , so a man and his intellect, intelligence, can be preserved. Undoubtedly, as long as a man, using intelligence, creates a code of conduct for technology, there is no danger to everything that is present in technological dynamic environment. e authors endeavour to point out some dilemmas and controversies regarding management, primarily with its point of view in technological dynamic conditions, and also organizational environment, that is more and more changeable and uncertain. is paper can also be a reliable basis for perceiving changes in management.
Since 1997, Germany has witnessed an unprecedented boom in high-tech start-ups and IPOs. Long considered a "desert" for high tech and entrepreneurship alike, Germany has witnessed a spectacular mushrooming of technology-based firm foundings in the past three years, transforming the country from a laggard to the clear leader in European high-tech entrepreneurship. Though seeming to come from nowhere and confounding the conventional wisdom about Germany's strengths and weaknesses, the take-off in German high-tech did not come overnight, but instead capped a good three decades of trial-and-error in high-tech sponsorship policies. This article puts the current high-tech boom into perspective by retracing the historical evolution of Germany's technology policies.
Many entrepreneurs have personality traits and behaviors that allow them to succeed in their businesses; however, these same traits can often prove detrimental in their roles as managers or co-workers. The energy necessary for achieving a business dream may have origins in desires and needs that can be dysfunctional in the business setting. This is the dark side of entrepreneurship. Report is based on observance and interviews of 38 entrepreneurs in a wide range of industries in the United States and Canada. Many entrepreneurs have a need for control and are suspicious about authority. Hence, they can find it difficult to work with others in structured situation where they are not in control (unless they created the structures and work is done on their own terms). Offering the deference needed of a subordinate is difficult. Obsessive concern with detail, for example, can stifle an organization, inhibit managers, and prevent accountability. They can be poor collaborators. Many entrepreneurs distrust the world around them and fear being a victim; they scan the environment anticipating the worst; they can lose sight of the reality of situations. Ill consequences can be augmented when joined with a need for control. Many entrepreneurs have an overriding need for applause and recognition. This drive can be jeopardize a company's financial position. Many entrepreneurial behaviors are a result of the psychological defenses people use: they idealize then vilify to extremes, project problems onto others, deny responsibility, or flee into action. Venture capitalists and corporate CEOs can adopt some strategies to avoid pitfalls in working with these entrepreneurs. They should respect the entrepreneur's need for independence, design control and information systems accordingly, and find ways to ensure the autonomy of acquired companies. In acquisitions attention should be paid to the quality of management that will come with the deal, and consider how the two company cultures will fit together. Instead of fighting the entrepreneur's idiosyncracies, managers should adapt to them and regard developing them as a challenge. (TNM)
This paper analyzes the Russian software industry in the context of trade in information technology services. We assess Russia's underlying sources of competitive edge in software, such as its scientific establishments, education system, diaspora and low costs, and identify the institutional impediments to growth. A survey reveals that foreign outsourcing contracts, a high value-added niche and high education levels characterize Russia's small, privately held software firms. A comparison with the Indian software industry underscores the structural differences in outsourcing relationships developed by the two countries and emphasizes that national advantages are complex amalgamations of many factors and need to be overtly marketed. Beyond the resources that give comparative and competitive advantage to a transitioning economy, a critical role is played by powerful industry organizations and by non-market state institutions that can level the economic field and inject credibility into market structures.
Part of the Supplemental Materials for INNOVATION AND U.S. COMPETITIVENESS The Conference Board report #R-1441-09-RR About the Report: The Conference Board has recently undertaken a project on innovation and competitiveness, with funding from Microsoft Corporation. The goal of the project is to provide an overview of the current state of knowledge on the nature of innovation, and its role in stimulating economic growth and improved living standards in the U.S. The project draws on experts across the academic, corporate, and policy arenas, in addition to The Conference Board’s own analysis, surveys, and focus groups of the business community. Such experts met in February 2007 to present and discuss various aspects of the innovation process and measurement thereof. Each presenter wrote a summary piece focusing on his respective area of expertise. These summary documents underpin the content in Innovation and U.S. Competitiveness; however the conclusions drawn are those of The Conference Board alone. These papers are retained for reference in The Conference Board Economics Program Working Paper Series.
The art of managing innovative companies is disclosed in this unique book which resulted from the first common EU-MITI project. The Company of the Future will need new management tools in order to meet four essential requirements: The first three are to redirect the attention of management to the internal challenges, to reveal problems well before final financial data are available, and to integrate basic management concepts from all business functions (marketing, R&D, production, services, finance, strategy). The fourth requirement is that tools should be simple enough to be implemented by busy people and sufficiently sophisticated to meet the challenges of the future. This book reveals those practical, simple and effective tools for global success and competitiveness. "This is a challenging book about the likely shape of companies in the 21st century." (David T. Thompson)
This paper reports a planned activity at a research laboratory consisting of approximately 400 scientists, engineers and support personnel that has been very successful in developing managers. The managers have changed their attitudes and behavior in positive directions and these changes have been measured and will be reported in this paper. Also This paper reports on why managers have changed; how they changed so that subordinates (and others) perceived their improved behavior; and what they are doing that is different. The improved managerial performance is attributed to the use of techniques that identify the need for personal development, particularly in the areas of lleadership and interpersonal skills, and the ability to understand and handle managerial administrative details.
MOSCOW AROUND the time that Apple Computer was making it big in California, Andrey Shtorkh was getting a first-hand look at the Soviet approach to high tech: he guarded the fence keeping scientists inside Sverdlovsk-45, one of the country's secret scientific cities, deep in the Ural Mountains. Ostensibly, the cities were closed to guard against spies. Its walls also kept scientists inside, and everybody else in the Soviet Union out. While many people in the country went hungry, the scientific centers were islands of well-being, where store shelves groaned with imported food and other goodies. Security in these scientific islands was so tight, though, that even children wore badges. Relatives had to apply months in advance for permission to visit. "It was a prison, a closed city in every sense," recalls Mr. Shtorkh, then a young soldier. Today, he is the publicist for an improbable new venture. The Russian government, hoping to diversify its economy away from oil, is building the first new scientific city since the collapse of the Soviet Union. Even more improbably, it is modeled, officials say, on Silicon Valley. The site, still nameless and near a village outside Moscow, is conceived not as a secretive, numbered city in Siberia but as an attempt to duplicate the vibrancy and entrepreneurial spirit of America's technology hotbed. Russia's rich scientific traditions and poor record of converting ideas into marketable products are both undisputed, cited as causes for the Soviet collapse and crippling dependence on mining and petroleum. Not surprisingly, then, its leaders look longingly at Silicon Valley. "The whole country needs some sort of breakthrough," Viktor F. Vekselberg, the Russian business oligarch appointed co-director of the project, said in an interview. Mr. Vekselberg was chosen in part because of his investments in solar power, an unusual venture for one of the oligarchs who made fortunes in commodities. "The founding of the innovation city, in form and substance," he says, "could be a launching pad for the country as a whole." He calls the city "a test run of business models" to rebuild Russian science for the capitalist era.
This excellent guide tells graduate students and other young scientists and engineers everything they need to know to help them work creatively and communicate their achievements in oral presentations and written publications. Also addressing the topics of scientific ethics, electronic publishing, and patents, this concise but comprehensive book will help answer many of the questions faced by novice researchers, there-by making their tasks seem less intimidating. After a preface and an introduction, this book is divided into the following major sections: (1) Introduction; (2) Scientific Creativity; (3) Scientific Presenting; (4) The Culture and Ethics of Scientific Publishing; (5) Writing and Publishing Your Own Paper; (6) Electronic Publishing; and (7) Patents.
This article examines enterprises funded by government-sponsored venture capitalists (GVCs). We find that enterprises funded
by both GVCs and private venture capitalists (PVCs) obtain more investment than enterprises funded purely by PVCs, and much
more than those funded purely by GVCs. Also, markets with more GVC funding have more VC funding per enterprise and more VC-funded
enterprises, suggesting that GVC finance largely augments rather than displaces PVC finance. There is also a positive association
between mixed GVC/PVC funding and successful exits, as measured by initial public offerings (IPOs) and acquisitions, attributable
largely to the additional investment.
The modified new growth theory yields the growth trajectories and gross fixed capital formations of the US, Germany, Japan, Korea and China analytically in closed form. Growth is driven by the gap in relevant knowledge compared with the state of the art. Excellent quantitative agreement is obtained with only two fundamental economic parameters: the 0.16 p.a. corresponds to the generation gap of 25 years. It is not by chance that it is equal to the physical lifetime of our capital stock. The measures the overall ability of a country to achieve optimal growth. For the first time there is a good explanation for the long postwar periods of nearly linear growth as well as for the dynamic structural unemployment of Germany, and a fairly reliable prediction of the world's changing resource balance which might result from the development of China. Adam Smith's 1776 prediction is verified, that there can be no sustainable solution to the employment problem within the paradigm of the industrial society. 1997 by John Wiley Sons, Ltd.
Libro centrado en la aplicación de la investigación cuantitativa para el mejoramiento de la administración de recursos humanos en las empresas.
Many managers feel overwhelmed. They have too many problems - too many monkeys-on their backs. All too often, they say, they find themselves running out of time while their subordinates are running out of work. Such is the common phenomenon described by the late William Oncken, Jr., and Donald L. Wass in this 1974 HBR classic. They tell the engaging story of an overburdened manager who has unwittingly taken on all of his subordinates' problems. If, for example, an employee has a problem and the manager says,"Let me think about that and get back to you," the monkey has just leaped from the subordinate's back to the manager's. This article describes how the manager can delegate effectively to keep most monkeys on the subordinate's back. It offers suggestions on the care and feeding of monkeys and on how managers can transfer initiative. In his accompanying commentary, Stephen R. Covey discusses both the enduring power of this message and how theories of time management have progressed beyond these ideas. Management thinkers and executives alike now realize that bosses cannot just give a monkey back to their subordinates. Subordinates must first be empowered, and that's hard and complicated work. it means bosses have to develop their subordinates and establish trust. Perhaps even more important and relevant than it was 25 years ago, Covey says, this article is a powerful wake-up call for managers at risk for carrying too many monkeys.
In the postindustrial era, the success of a corporation lies more in its intellectual and systems capabilities than in its physical assets. The capacity to manage human intellect—and to convert it into useful products and services—is fast becoming the critical executive skill of the age. As a result, there has been a flurry of interest in intellectual capital, creativity, innovation, and the learning organization, but surprisingly little attention has been given to managing professional intellect.
The traditional view of management, back in 1977 when Abraham Zaleznik wrote this article, centered on organizational structure and processes. Managerial development at the time focused exclusively on building competence, control, and the appropriate balance of power. That view, Zaleznik argued, omitted the essential leadership elements of inspiration, vision, and human passion which drive corporate success. The difference between managers and leaders, he wrote, lies in the conceptions they hold, deep in their psyches, of chaos and order. Managers embrace process, seek stability and control, and instinctively try to resolve problems quickly--sometimes before they fully understand a problems significance. Leaders, in contrast, tolerate chaos and lack of structure and are willing to delay closure to understand the issues more fully. In this way, Zaleznik argued, business leaders have much more in common with artists, scientists, and other creative thinkers than they do with managers. Organizations need both managers and leaders to succeed, but developing both requires a reduced focus on logic and strategic exercises in favor of an environment where creativity and imagination are permitted to flourish.
Failure is the Partner of Success
- John Backus
The Entrepreneur Guide
- Deaver Brown
Global Trends in Venture Capital: Outlook for the Future
- Nvca Deloitte
Leadership: More doing than dash
- Peter Drucker
Dominant science does not mean dominant products
- Ralph E Gomory
Local and Global Networks of Immigrant Professionals in SiliconValley
- A L Saxenian
Entrepreneur Magazine-February 2011 Google’s recruiter on how to build a superstar team
- Jennifer Wang
High Output Management (Random House
- Andrew S Grove
The People Skills Test
- Gardiner Harris
On The Psychology Of Leadership
- Levinson Harry
Behavioral Science: Concepts and Management Application (The Conference Board
- Harold M F Rush
The lab that ran away from Xerox
- Bro Uttal
Dealers of Lightning, History of Xerox PARC
- Mathew Hiltzig
Cultures of Creativity: The Challenge of Scientific Innovation in Transnational Perspective Proceedings of the Third Forum on the Internationalization of Sciences and Humanities
- Humboldt-Kosmos
Best R&D is business-driven
- Peter Drucker