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For China Tsinghua University 05/22/22 For China Tsinghua University 1 Entrepreneurs are the Future of Economic Development Jerry R. Mitchell President Jerry R. Mitchell and Associates Inc

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Entrepreneurs are the Future of Economic Development

Jerry R. MitchellPresident

Jerry R. Mitchell and Associates Inc

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I would like to talk about my life, entrepreneurship, and globalization

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You may wonder how one is connected to the other, but I promise that, as there is truth in advertising, the connection will come.

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This was one lesson I picked up when I was a very young child. It has been my guiding principle ever since. And I have had 60 years to practice self-determination. When I wanted something, the best person to depend on was myself.

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From my experience in helping to create technology companies, the right attitude, people, and actions make a bigger contribution than a novel idea to the success of these endeavors. Never underestimate the role of passion, the importance of management talent, and the significance of teaming with the right investors. Second, bringing innovative ideas to market requires a series of actions, from securing patents to moving a high-quality product to market quickly.

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“I had no ambition to make a fortune. Mere money-making has never been my goal, I had an ambition to build.”

John D. Rockefeller

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The person who starts out simply with the idea of getting rich won’t succeed; you must have a larger ambition. There is no mystery in business success.

If your only goal is to become rich, you will never achieve it.

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To succeed, a technology-based entrepreneur needs more than an innovative product. How one organizes a start-up company often proves more important than the product in determining whether the venture succeeds or fails.

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Too many innovators underestimate the need for excellent management. Investors always say that they would rather have a first-rate management team with average technology than have a first-rate technology with a second-rate management team because the strong management team Is more likely to succeed.

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There is no I in team!

One false impression about entrepreneurship is that it is an individual behavior. What I have found is that entrepreneurial behavior succeeds more often when performed by teams.

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In my research about entrepreneurship in China I have identified three different forms at three different times.

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The first occurred before reform and through the 80’s, consisting of very small-scale activities in retail and services such as street vendors.

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Perhaps more accurately referred to as ‘self-employed’ rather than ‘entrepreneurs’, those involved were of low social status, and illegal migrants, and low education. They started out on their own because they were excluded from the state system.

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Some achieved success beyond their expectations. But for most, business was a means of subsistence.

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The second group emerged in the late 1980s, with more highly educated individuals, often engineers or SOE (State-owned enterprises) managers, operating on a larger scale out of choice rather than necessity.

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These businesses, operated in all sectors, ranging from restaurants to transportation to manufacturing, especially the production of inputs for SOEs.

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The third type is the foreign educated or trained Chinese returning to China to start businesses.

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This type of entrepreneurship has been evident recently in the flourishing Internet sector. Each of these types of entrepreneurs operates in a somewhat different environment, under different constraints and has distinctive characteristics.

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I will focus primarily on the second type, which I believe is the most interesting group. After all, for those who have no other choice, starting a business carries no risk, while for others the risk can be tremendous.

The problem, becomes the accessibility of foreign sources.

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The average Chinese person has never travelled outside of China, let alone accumulated foreign business contacts. The result is that most high tech ventures are started and controlled by foreign-educated Chinese who have spent several years in the West, have the contacts, and have received funding commitments before returning to China.

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While funding is perhaps less of a problem for Internet entrepreneurs, access to labor is more of one. The labor issues are also problems Internet entrepreneurs must deal with. However, in addition to those, a ‘brain drain’ reduces the speed in technological advancement.

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International demand for technical graduates means an inadequate supply in China, especially given the number of technically skilled students who move abroad and never return. Finally, the potential value of stock options, a key incentive of Internet start-ups, is not always understood in China.

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While the phenomenon of foreign-educated Chinese returning to their home country to start businesses alleviates the ‘brain drain’ problem, at the same time, many of these returning Chinese entrepreneurs have “back-up plans.”

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Many of these entrepreneurs create ‘safety nets’ independent of the success or failure of their businesses. Examples of such safety nets include dual citizenship, green cards, and even going so far as leaving one’s wife or husband and children in North America while spending months away from them to work in China.

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In such circumstances it is profit rather than pure patriotism which draws them back. If environmental instability were to increase, it is possible China could again see a worsening of the brain drain problem.

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An alternative “back-up” plan indigenous Chinese entrepreneurs employ is having each foot on different boats; in a working couple, the wife or husband will continue on at his or her SOE job while the husband or wife ventures into entrepreneurship. In this way, the family’s risk is reduced because they can continue to enjoy state benefits of housing and health plans while they also reap the profits of a private business.

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In my experience one big difference between American and other countries companies is that U.S. companies are much more generous in giving stock options to their employees.

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Americans have learned that when you distribute ownership to the employees, the employees behave differently. They no longer behave like employees but like owners. Wide shareholder ownership is one of the best ways to stimulate passionate behavior.

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Here is a great example of an American success story.

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In 1954, a fifty-two-year-old milk-shake machine salesman saw a hamburger stand in San Bernardino, California, and envisioned a massive new industry: fast food.

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In what should have been his golden years, Raymond Kroc, the founder and builder of McDonald's Corporation, proved himself an industrial pioneer no less capable than Henry Ford.

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He revolutionized the American restaurant industry by imposing discipline on the production of hamburgers, French fries, and milk shakes. By developing a sophisticated operating and delivery system, he insured that the French fries customers bought in Topeka would be the same as the ones purchased in New York City.

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Such consistency made McDonald's the brand name that defined American fast food. By 1960, there were more than 200 McDonald's outlets across the country, a rapid expansion fueled by low franchising fees. Ray Kroc had created one of the most compelling brands of all time. But he was barely turning a profit.

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Ultimately, it was his decision to use real estate as a financial lever that made McDonald's a viable operation. In 1956, Kroc set up the Franchise Realty Corporation, buying up tracts of land and acting as a landlord to eager franchisees. With this step, McDonald's began to generate real income, and the company took off.

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Kroc then introduced national advertising programs to support the rapidly proliferating franchises, and when it appeared that growth in the company's home territory was slowing in the early 1970s, he started an energetic and successful push to make McDonald's a global presence.

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Throughout the company's spectacular growth, Kroc maintained a delicate balancing act, imposing rigorous system-wide standards while encouraging an entrepreneurial spirit that welcomed ideas from all levels. Many of these ideas contributed to the company's astonishing success.

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In amassing a $500-million fortune, the king of the hamburger transformed the nation's cultural landscape and forged an industry that is among America's greatest exports. The widely imitated success of McDonald's offers an excellent example for today's managers and executives searching for greater production efficiencies.

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By putting the humble hamburger on the assembly line, Kroc showed the world how to apply sophisticated process management to the most prosaic endeavors.

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To succeed the McDonald's way,companies must define the basic premise of the service they offer, break the labor into constituent parts, and then continually reassemble and fine tune the many steps until the system works without a hitch.

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Today, companies engaged in delivering pizzas, processing insurance claims, or selling toys benefit from the kinds of systems that Ray Kroc pioneered. To the degree that such operations maintain quality control, and cherish customer satisfaction, profits may flow.

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In 1965 Kroc's secretary, June Martino, who came to work during the cash-poor origins of the company, now held $5 million in stock.

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Thus, when McDonald’s went public in 1965, Martino cashed in $300,000 of her holdings (equivalent to $1.7 million today) and her remaining holdings were worth $5 million (or about $28 million in today’s money).

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And when McDonald’s was listed on the prestigious New York Stock Exchange the following year, Martino became the first women to be a guest in the all-male NYSE director’s dining room since Queen Elizabeth.

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Same thing for the founders of Dell Computers, Apple, Walt Disney, Wal-Mart and Starbucks. They had a business vision and to achieve it, they went out and found the expertise they needed.

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When comparing the U.S. economy to the economies of other countries Americans seem to be much more willing to become entrepreneurs. Indeed, a recent survey found that more than 70 percent of adult Americans would prefer being an entrepreneur to working for someone else.

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In contrast, the same survey showed that only 46 and 41 percent of adults in Western Europe and Asia, respectively, preferred being an entrepreneur. One possible explanation for this difference is that, because the United States is an immigrant nation, we have inherited our dynamism from past generations.

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Many of those who came here had the courage to migrate half way around the world in search of a better life. Not only were the distances long but also the travel was often dangerous.

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I will discuss the roles of entrepreneurial spirit and the policy environment in turn. Along the way, I will argue that the two are interwoven and that policymakers should keep in mind that the real key to entrepreneurial success—entrepreneurial spirit—is already in abundance and that we should be careful not to waste it.

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SBIR

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Discussion of the role of government in the entrepreneurial process should begin by recognizing the relative abundance of entrepreneurial spirit in the world.

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Generally speaking, the view in the United States is that owning a business is an inherent right and that the operation of the business should be left to the entrepreneur.

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China must also excel as entrepreneurs before the world. You must create Chinese brands for the global market place.

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Through the years, the market place has expanded: between cities, between countries, between continents. I want to urge you all here to think bigger. When you go back to your homes, think of ways to sell and market your products and services to the world. Create world-class brands.

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So, the real entrepreneur is not the one who works in his company, but the one who works on his company. It is the one who puts his body and soul into finding new customers, developing his market,forming strategic alliances, attracting the best talent.

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Entrepreneurship is synonymous with life, with spirit, with growth, with challenge, with risk, with empowerment and, of course, with leadership.

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Not all entrepreneurs are successful. In fact, statistically, most entrepreneurs aren’t. But, the good that is done by so many who step up and take risks, exercise their leadership, generate commerce, create jobs is what the American Dream is all about and has been critical to the growth and success of the global economy

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As an entrepreneur you have a strong point of view. It is always the person with the strongest point of view who influences the group – who wins the day.

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My experience is that a powerful point of view is worth at least 80 IQ points.

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Finally, entrepreneurs have candor. It has been reported that seven of ten people in organizations do not speak up if they think their point of view will differ with the conventional wisdom of their boss’s point of view, even if they believe their boss is going to make an error.

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Great leaders always cultivate strong-minded associates with the wisdom and courage to make recommendations; in fact, to say "no" when "no" is the right answer.

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For many startups, a core business requirement is the creation of custom software. This forces the entrepreneurs and CEOs into the uncomfortable role of defining the software, choosing the platform and managing technical staff.

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Unfortunately, for the entrepreneurial CEO, there are few resources dedicated to assisting small companies in navigating the technology world of acronyms and technicales. And even for experienced technologists, the outlook is not bright.

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Depending on the study, estimates on software development failures range from 30 percent to 70 percent. These studies are based on large companies with vast resources. It would be arguable the failure rate for startups would be even higher.

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There are two components of software development that contribute to high failure rates. One is the company's capability to managing the complexities of producing quality software. The other is how the company views software development in general.

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A discussion on adapting software development processes for the start-up is outside the scope of this presentation. The focus will instead be on how the entrepreneur should view software development as a whole.

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Without an appropriate mind set, the expectation will not be in sync with the developer's reality. The result of which should be obvious.

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A conflict between vision and execution rarely results in a positive outcome. To ensure a compatible outlook, identifying the mental framework necessary to successfully navigate the development process will prove helpful.

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"Nothing's ever easy" is a accurate statement that serves well as a constant reminder that no matter how simple a software project sounds, it never is. As the project is defined, there will be many attempts to discredit this mantra.

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High-level discussions with non-technical associates will ensure the most complex projects will appear basic. Simply generate a feature list, hire a developer and the throw up a website. Seems easy enough!

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The oversimplification of the project will continue during preliminary discussions with a development group where feedback frequently consists of statements such as "no problem" or "we have done similar projects as this one."

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To be fair, the developers are not lying.

They are merely stating that the project is doable. But the devil truly is in the details. Any significant project will not be quick or easy. Expecting otherwise will result in considerable levels of frustration.

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SOFTWARE DEVELOPMENT IS NOT MANUFACTURING!

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It is too common to see software development as an assembly line. The reality is that software development is much closer to creating art than gadgets.

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Understanding this concept will shed light on why project time estimates appear to be pulled out of thin air.

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It also will explain why a "few weeks" turns into a "few months." In manufacturing, the number of gadgets you can produce in a month can be accurately estimated by the ones produced last month.

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For developers, each project though there may be similarities with past projects is unique. Ask an artist how long it will take to produce a commissioned sculpture and the response will be a general time frame.

The artist is not being evasive.

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The exact amount of time it will take to product the final piece is unknown. When developers present project time estimates, the entrepreneur should understand the estimate is a best guess. Like the artist, the software developer can only provide time frames.

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However, unlike the artist, the software developer must factor in external influences such as changes in requirements technology innovations, and dependency on other teammates to name a few.

Unrealistic expectations of project time line estimations will result in needless aggravation.

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The creation of software is a constant process of shaping the product until it accurately reflects the entrepreneur's vision. As the leader, you will be focused on the final product. Nevertheless, it is critical for the vision to be broken down into easily manageable steps.

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Unlike a large company where teams of product specialists create reams of specifications, a startup does not have that luxury. To further complicate the process, the product requirements will likely change as the software is being developed.

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This is the nature of an emerging business. A good development team will deploy many interim releases versus a few large ones. The "mini-releases" allow the entrepreneur the opportunity to verify the team is on the right track. Thus, the software evolves to meet the vision.

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CONCLUSION

The intent of this presentation is not to paint a bleak picture of software development but rather to assist with managing the unique challenges of software development within a start-up.

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By understanding how developers work, you will be better equipped to roll with the challenges that will undoubtedly be presented. With this pragmatic approach and a good set of processes, creating software will be extremely rewarding. Similar to the artist's sculpture, the final product will not be a gadget but a unique merger of function and art.

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One example of successful software development I use is from a company where I am chairman.

The company is Modularis Inc. Here is an example of how using the right tools and strategic partnering can ensure success:

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TATA India & Modularis USA: Forte to .NET Migration Case Study

Client

Large US based pharmaceutical company with offices world wide.

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Business Scenario

•The regulatory activity planning and tracking system is a business critical application for the customer. It is used as a key system for managing product registrations, supporting other business processes/activities, and serving as subscription base for product dictionary data.

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· The application had complex business logic and was developed using Forte tracking application.

· The client wanted to migrate the application to .Net platform due to high cost of ownership and withdrawal of Forte support by SUN

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Solution Highlights

•The project included re-development/migration of existing web application from sun’s Forte to Microsoft’s .NET environment. The goal of this project was to take the older version of source code written in Forte UDS 5.01 and re-write the application in .NET using C#.Net for business layer, code behind and ASP.Net for UI.

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• The project used Accelerator tool from Modularis (TCS’s strategic partner) for enabling automated code generation based on the existing data model.

Solution Benefits

• Automated code generation for business layer using Modularis.

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• Usage of this tool proved to be beneficial in capturing of accurate business model and faster generation of code, so as to reduce validation effort

•Migrated application had the same look and feel as of the original application

•Overall effort reduction by 30-40%

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When you see somebody coming out of school with an engineering degree, the most important thing they've got going for them is curiosity engineers-or technologists-basically are curious people. That's why you're in that discipline. You're trying to look into the future. You're surrounded, not only by fellow undergraduates, but also by graduate students and professors; you are exposed to the future.

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Amount of start funds needed.

Of the Inc. 500 founders, 36% had start-up capital of less than $20,000.

With approximately 75% of all new job creation in the U.S. coming from small businesses, the Inc. 500 is a true indicator of the companies and industries that are driving the economy forward.

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The role of entrepreneurship has evolved significantly and is now seen as a requisite ingredient in the global economy -generating employment, growth and international competitiveness.

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It’s never about the money.

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What message does my life give?

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I believe that each of us has a purpose on this planet.  It is our duty and responsibility to find that purpose and apply it for the betterment of those around us rather than merely for ourselves.

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Ultimately, we will be judged by how hard we worked to find that mission, how well we applied it in the service of others, and how we ultimately made a positive footprint on this planet by our presence.

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Never forget where you came from; be proud of your roots and your upbringing, for they helped shape who you are today and keep you grounded.  Find out what you were meant to do, what you are really good at, and make sure you work hard to be even better than that while helping all those with whom you come in contact. 

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Finally, appreciate every moment you have, for you do not know when your last moment will arrive.

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Lessons from personnel experience.

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Case study. One companies success taking technology out of MIT labs.

Lessons from personnel experience.

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Changing how the world designs.

Computer Aided Design CAD

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Bringing automation to manufacturing

Computer Aided Manufacturing CAM

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From 5 founders to 150 people in 18 months.

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The lessons I want to pass on to you and other entrepreneurs are about the need to develop a plan that matches your vision. Share the plan, and that includes the company’s exit strategy, with all employees. Have meetings where all employees are able to speak without fear of retaliation. Hold people accountable for their responsibilities.

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Globalization is unstoppable. Even though it may be only in its early stages, it is already intrinsic to the world economy. We have to live with it, recognize its advantages and learn to manage it.

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Globalization creates many more new jobsthan it destroys, but in different sectors and areas.

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The global economy offers better opportunities to small and medium-sized companies than they had in the past.

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Entrepreneurs starting out in business, or those new to the workforce such as students, will hear a lot confusing management expressions (which some call buzz words). The term “innovation” will likely be at the top of the list. Here are my thoughts to help you to understand what it means in terms of the lessons to learn and to avoid.

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I speak at many conferences. Most people think that they are innovative thinkers until asked, “Who was at this conference last year, made notes, and never looked at them again?” Half of the people admit to this. Don’t fall into this trap. Listen for the main ideas and write them down, along with questions that rise in your head and the actions you will take. If I or other speakers say something profound, write down the quote

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Innovation is more than technology.

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Creativity is about finding new and original ideas while innovation processes manage the best ideas into action.

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It is best to consider innovation in terms of “innovative thinking”.

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Innovative companies have two things in common: everyone in the business knows how to manage their ideas, and they create a climate that is open to new ideas.

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Innovative thinking is driven by your ability to manage ideas.

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Learn to be a creative rather than a critical thinker

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If an organization is not pursing innovations, it is then pursuing mediocrity and complacency.

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Case Study. From monitoring the astronauts life signs to real world applications. Lesson from personnel experience.

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Bringing the team together.

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Handling competition.

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Mistakes we made.

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Warmed by a genuine sense of satisfaction, we are in a position to look toward the future and ask, "What next?" In answering this question, we should be aware of two characteristics that will determine how well we are able to meet the challenge of innovation in our 21st century world: how adept we are in anticipating the future, and how wise we are in shaping it to our ends.

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These three conceptual innovation parameters – knowledge as capital, partnerships as transformational, and design as intent – are the heart and soul of what drives today's S, E & T Investment.

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In anticipating the future, we must recognize that civilization is on the brink of a new industrial world order. The big winners in the increasingly fierce global scramble for supremacy will not be those who simply make commodities faster and cheaper than the competition. They will be those who develop talent, techniques and tools so advanced that there is no competition.

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If our goal is to instill entrepreneurship in those we educate, then encouraging them to use their imaginations, to be visionaries, and to think creatively is critical. We must teach them to think against the grain; swim upstream; violate the norm.

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Albert Einstein, believed that "imagination" was the key to his work. He said, "Imagination is more important than knowledge." Imagination in the hand of entrepreneurs brings the ability to connect the results of research to society, i.e., to envision.

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The ability to understand the larger context in which we work – the sector, the society, and even the time in history, the moment in

civilization, is crucial to any form of entrepreneurial leadership.

Learning to read the larger context provides a path for imagining the future.

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Part of our task is to mentor others in scanning the big picture for the relevant signals. We must develop acumen for such thinking in our nation's students. We cannot graduate talented young professionals with supremely specialized expertise that exists in a vacuum.

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The ability to read the subtle signals will often make the difference between a nation being the industrial leader or laggard. Reading the tea leaves, so to speak, is not just for mystics anymore. It's a job for mentors, managers, entrepreneurs, and every kind of leader.

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The astute "readers of the context" and "imaginers of possible futures" have proven to us that envisioning is a worthwhile endeavor.

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Envisioning combined with risk-taking is a supercharged combination on the personal level as well as on the level of the economy.

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Something new and exciting is happening in the 21st century that can help us foster this capability. The borders between discovery, learning, and innovation are blurring.

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Increasingly, scientists and engineers, educators, and entrepreneurs are working across many different disciplines, fields and even sectors to make the connections that lead to deeper insights and more creative solutions.

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We look ahead to exquisite but practical improvements in everything from drug delivery systems to renewable energy resources. I like to think of this as "creative transformation" - the flip side of the coin of "creative destruction."

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Focusing on creative transformation can help us act intelligently as we move ahead. It can cultivate a benevolent approach to robust change.

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The question for us is: how do we mobilize such an effort? A critical founding stone is to ingrain early on in education that failure is a part of the learning process – if students fear failure they will surely avoid changing the status quo.

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As students move on, we need to educate them beyond their technical expertise. The best technical training must be combined with understanding how that expertise fits into the larger societal environment, into our overriding national goals, and indeed, into the goals of other nations.

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Today, the trend in science and engineering research, technology development and business operations is much more cross-boundary centric. Many disciplines are converging in surprising ways to generate the new knowledge needed for the increasingly complex challenges we face as a society.

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Today's graduates must be capable of integrating knowledge from a variety of disciplines and working with industry-partners to advance that knowledge into innovations.

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Engineers, scientists, educators, entrepreneurs, and workers at every level must be able to see functionally beyond the boundaries of their own fields. In the past, when the tools for discovery and application were rudimentary, innovative progress across the frontier of science and engineering was possible only by parsing the frontier into doable pieces that we called disciplines. But today's increasingly exotic tools allow a more holistic attack along the frontier.

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If we want to change the way the workforce thinks, and increase its creativity, innovation, and boundary-crossing abilities, we must ingrain these ideas, while students are on the path to becoming the workforce we need them to be.

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Together, we need to educate today’s students and tomorrow's future entrepreneurs to think strategically and holistically. They need to be able to read patterns and trends from the larger context to envision the future.

And, in particular, integrative, cross boundary-educated, visionary engineers and scientists are critical components to success in our age of complexity.

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In the larger sense, innovation depends upon a synergistic set of interactions that includes not only science, engineering and technology, but social, political and economic interactions as well.

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We need new arrangements that foster the kind of integration that supports innovation, and the social and economic well being it enables.

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If innovation is at the heart of progress, then we need to understand the skills that foster the capacity for risk taking, for imagination, and a

tolerance for unfamiliar and uncertain territory. That in turn will mean that our institutions must evolve to cultivate these skills.

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Innovation and competitive entrepreneurship will always remain an enduring quest, an on-going process. There is no peak that we can reach that will assure continuing success. It is not a matter of sticking to the task for the long haul. It is the "haul."

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Entrepreneurs will have to be effective collaborators, innovators, risk takers, and communicators, working across shifting boundaries, and embracing diversity. They will need to know the human and social dimensions of technology. Our social and economic progress depends upon it.

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I often get asked by college students whether they should start their own businesses right out of college or whether they should join an established company. The reality is that at that stage in your life and career, there are no wrong choices. No matter what you choose, you are going to learn a lot and get valuable experience.

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I want to reemphasize that there are no fundamentally wrong paths out of college. You can create your company. Fail or succeed, you will learn a lot. You can go into management consulting. Another alternative I discuss is to join a startup, especially an early stage startup.

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In startups there is so much work, that if you step up to the plate you will be given opportunities you might never have in a larger company despite your youth and inexperience. It’s a great way to learn hands on execution.

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Entrepreneurs view work as a means to an end -- to be their own boss. We measure success in terms of achievements.

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Your presence this evening symbolizes the global nature of Entrepreneurship.

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Today’s state of emerging business has been described as "The Golden Age of Small Business." Small businesses are becoming increasingly competitive against their larger counterparts. The global economy has seen the emergence of new industries that have captured the attention of consumers all over the world, and has allowed resourceful entrepreneurs to capitalize on these markets.

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No innovative product was ever invented without good science and risk-taking. By its very definition, science is a risky business, and no amount of money will ever eliminate the need for scientists who go out on a limb to develop products never seen before.

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Copying someone else’s product is not innovation, and adding something to someone else’s product is not innovation. Bill Gates started out with an idea, not a billion dollars.

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During the last 100 years, we have created more wealth, reduced poverty more, and increased life expectancy more than in the previous 100,000 years. That happened because of entrepreneurs, thinkers, creators and innovators.

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And that happened because of people like you entrepreneurs, thinkers, creators, innovators—who had new ideas, who traveled geo-graphical distances and, more important, mental distances to create new things and who saw to it that old traditions, which would have stopped new creations, would not stop them for long.

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I am 70 today. But I do not forget the little boy that I was in Chicago. I was influenced by my parents who taught me how to be a trusted friend. I still believe in family and friends. I still want to make good. I still don't mind going up against those younger and smarter than me. I still believe hard work will not fail me. And I still believe in people willing to think the same way.

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I am confident that each of you here today will make many contributions to the development of strong relationships between our two countries, and will shape a future that is challenging and rewarding, a future that provides you every opportunity to create the life – and the world-you imagine.

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All of you carry the excitement and the responsibility to make it happen.

The contribution of entrepreneurs is to tie the whole package of ideas, knowledge, workforce and institutions together into a productive engine of economic growth. That's not only a big job-but a worthy goal and I am certain that you here at Tsinghua University can carry this through!

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联系方式:Jerry R. Mitchell 杰瑞 ·米切尔电话 : 001 630-305-0005

Email: [email protected]

网页: www.jerryRmitchell.com

博客: www.JerryMitchellBlog.com

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I hope I've left some time for questions?

希望还有时间请各位提些问题