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Atricle Dump - An Entrepreneurial Development Framework for Institutions of Higher Education
You've heard it all before when it comes to stats about customer retention. Acquiring a customer costs five to 10 times more than retaining one. Repeat customers spend, on average, 67 percent more. After 10 purchases a customer has referred as many as seven other people.So, if your focus is on acquiring new customers instead of keeping the ones you have, you are off the mark. Here is a brief overview on how to retain customers.- Ask. New York Mayor Ed Koch was famous for asking "How am I doing? He always knew where he stood, even if he wasn't always happy about the answer. So, survey your customers about their likes and dislikes. Then, follow through with the information you receive.- Profile. Learn as much as you can about your customers and then do something with that information to show them that you value them. Find out what makes a "best" customer and then put programs in place to move more of your customers into this category.- Reward. Humans like to be treated as if they are special, and they will return to businesses where they have had these positive experiences. Reward them with special deals, or just pay a little more attention to them. In this era of digital communication, just sending a hand-written note gets you major points.New business is exciting, I'll admit. But it is the clients you have that will bring you the most success over the long run. Don't spend five to 10 times more to bring in that new customer. Instead, invest a fraction of that to keep your customers coming back and referring similar "best" customers.
·Government policies
If this is to be accomplished it will require government intervention to construct policies which should include the reduction of taxation in the form of capital gains tax rate, providing incentives for increased spending on research and development, encouraging active venture capital markets, an alteration of the ‘hiring and firing’ labour regulations, and encouraging the spending on new technology shares (Da Rin, Nicodano & Sembenelli, 2005:8).
·The higher education institution policies
Affiliate Program Basics The most common use of the web for commercial means is in the promotion of either products or services. It is certainly no secret that most successful businesses include a website in their marketing campaigns. Many of them offer an affiliate program to further promote their business interests to a much larger audience by using the efforts of affiliates not employed by the company. Probably the most well know commission-based affiliate program on the web, Amazon.com, first launched in 1996, has enjoyed continual growth and has dominated its niche area of the Internet.If you don't have a service or product to sell online but you like the idea of having your own income-producing website you should consider affiliate-based e-commerce. An affiliate program is an agreement between a merchant and an affiliate. You send the merchant traffic; if they buy something you get paid a commission on the product, usually a percentage of its price. This process can be equated with the very old concept of providing a finders fee for referrals.There are four basic types of affiliate programs: • Click-through or pay-per-click programs • Cost-per-thousand impressions programs • Pay-per-lead (new customer) programs • Pay-per-sale (percentage-based) programs You MUST remember that there is no such thing as a get-rich-quick business plan…(If you find one PLEASE let me know about it so we can enjoy the profits together!) That’s why you see them referred to as SCHEMES!If you intend to make a living from these programs you should plan on building your business slowly and treating this as a real job. You can only get back what you are prepared to put forth when it comes to any online business venture. You CAN be successful using affiliate referral marketing methods. As with most business enterprises, it takes commitment, determination and a great deal of patience to obtain success. But if you are serious about building an online business enterprise or if you just want to earn some extra cash YOU CAN SUCCEED! These affiliate programs want you to be successful to assure their success. They supply you with the knowledge, technology, marketing tools and support to help ensure your success!
With increased globalization people have seen the need to increase wealth creation especially within the underdeveloped Third World. It has also become evident that neither the government nor the formal sector can supply the necessary job creation without a sustained effort and partnerships between all sectors of the economy. One means of creating work opportunities will be the development of entrepreneurial and innovative skills within the country. The creation of such job opportunities by encouraging entrepreneurial innovation has been well illustrated by Dana, Korot and Tovstiga (2005:12) in Silicon Valley, Israel, Singapore and the Netherlands. These authors report that in the narrow 35 mile by 10 mile corridor within Silicon Valley 6,500 technology enterprises are located. Singapore is home to almost 100,000 entrepreneurs and had a per capita GDP of US$42,948.00 during 2004 and an annual growth rate of 8.8% (Singapore Statistics, 2006).
In addition higher education has become a prime export commodity of total world services trade, amounting to a staggering 3% (Grundling & Steynberg, 2006:5). With the increased interest in entrepreneurial innovation as an economic driver there is a need to develop expertise within this area. Thus there is a need to develop entrepreneurial innovation knowledge within higher education institutions to ensure the maintenance of a competitive edge in an under developed market. Dana, et al. (2005:10) define knowledge as “the integration of information, ideas, experience, intuition, skills and lessons learned that creates added value for a firm”. In addition Dana et el. (2005) define innovation as “the process by which knowledge is transformed into new or significantly modified products and/or services that establish the firm’s competitive edge”. It can thus be seen that it is imperative that higher education in South Africa actively pursue a policy to encourage entrepreneurial innovation to ensure the creation of expertise, the development of new industries and the empowering of students to establish themselves within an entrepreneurial innovative culture. Higher education will be required to become a key player in domesticating knowledge and diffusing it into the economy in order to serve as engines for community development and social renewal (Grundling & Steynberg, 2006:6).
Problem statement
The research question under discussion is formulated as What minimum requirements should be set in an entrepreneurial and innovation framework in order to support entrepreneurial and innovation knowledge creation at institutions of higher education?
Purpose
This article attempts to develop a framework to encourage entrepreneurial thinking within a higher education environment, taking into account consideration policy and infrastructural requirements, knowledge creation fundamentals and institutional arrangements.
Policy intervention
Policy initiatives within higher education institutions are essential to establish guidance for entrepreneurs, funding agencies, industry, labour in general and for students and institutions of higher education in particular. From a higher education perspective government as well as institutional policy requirements will be discussed in brief.
·Government policies
If this is to be accomplished it will require government intervention to construct policies which should include the reduction of taxation in the form of capital gains tax rate, providing incentives for increased spending on research and development, encouraging active venture capital markets, an alteration of the ‘hiring and firing’ labour regulations, and encouraging the spending on new technology shares (Da Rin, Nicodano & Sembenelli, 2005:8).
·The higher education institution policies
<"Building professional branding which communicates that you are x with y years of experience in industry Z and that you know to do A,B,C.D and have knowledge in E ,F , G is boring and won’t bring you career and business success".Building professional branding is essential for one’s career and business success. Tom Peters talked about professional branding almost ten years ago. However, economic changes, globalization, new technologies, job market trends, and outsourcing have changed the meaning of the concept and it’s implementation. How can you brand yourself to be successful in the current markets? What changes do you have to make in order to establish effective professional branding which will demonstrate your career and business success?The evolution of the professional branding concept. Tom Peters wrote “ Big companies understand the importance of brands. Today in the age of the individual you have to be your own brand. You are the CEO of Me Inc. You have to be a brand like Nike, General Motors, Dell or Microsoft. Instead of being your job title or job description or your resume, you must be a professional brand. When you are a brand you are recognized for who you are”. Examples of people who are a brand are Michel Jordon , Tiger Woods & Oprah Winfrey and others. What are the components of professional branding?A brand :Communicates distinctive traits and qualities. Is easy to remember & to be recognized. Earns the respect and the trust of others. Creates a value to your clients. Builds a competitive advantage among others. Influences others.Branding transition from the marketing model to the experimental model . The traditional concept of branding was based on marketing theories. It stated that companies need to communicate their image . One of the major strategies for branding was advertising . However, stronger competition, globalization and economic changes changed the rules for success. It’s not enough to have a good image, or to make a promise to the clients. Clients want to know that your company’s products create a real value for them compared to the competition. In order to win the competition for clients’ preferences you have to be innovative. Innovation in today’s market is the sole strategy for economic success. Hooly Lindman (Aug 2004) published an article with the title The Good Brand and she wrote: ‘brands are less and less about what we buy, and more and more about whom we are. A good brand is authentic. This means that companies need to demonstrate that they doing good and well. Consumers must sense that their actions are sincere and not only PR “. Ten years ago companies built their brand only on savvy advertising. This has changed and we can see companies such as Google and Am
In addition higher education has become a prime export commodity of total world services trade, amounting to a staggering 3% (Grundling & Steynberg, 2006:5). With the increased interest in entrepreneurial innovation as an economic driver there is a need to develop expertise within this area. Thus there is a need to develop entrepreneurial innovation knowledge within higher education institutions to ensure the maintenance of a competitive edge in an under developed market. Dana, et al. (2005:10) define knowledge as “the integration of information, ideas, experience, intuition, skills and lessons learned that creates added value for a firm”. In addition Dana et el. (2005) define innovation as “the process by which knowledge is transformed into new or significantly modified products and/or services that establish the firm’s competitive edge”. It can thus be seen that it is imperative that higher education in South Africa actively pursue a policy to encourage entrepreneurial innovation to ensure the creation of expertise, the development of new industries and the empowering of students to establish themselves within an entrepreneurial innovative culture. Higher education will be required to become a key player in domesticating knowledge and diffusing it into the economy in order to serve as engines for community development and social renewal (Grundling & Steynberg, 2006:6).
Problem statement
The research question under discussion is formulated as What minimum requirements should be set in an entrepreneurial and innovation framework in order to support entrepreneurial and innovation knowledge creation at institutions of higher education?
Purpose
This article attempts to develop a framework to encourage entrepreneurial thinking within a higher education environment, taking into account consideration policy and infrastructural requirements, knowledge creation fundamentals and institutional arrangements.
Policy intervention
Policy initiatives within higher education institutions are essential to establish guidance for entrepreneurs, funding agencies, industry, labour in general and for students and institutions of higher education in particular. From a higher education perspective government as well as institutional policy requirements will be discussed in brief.
·Government policies
If this is to be accomplished it will require government intervention to construct policies which should include the reduction of taxation in the form of capital gains tax rate, providing incentives for increased spending on research and development, encouraging active venture capital markets, an alteration of the ‘hiring and firing’ labour regulations, and encouraging the spending on new technology shares (Da Rin, Nicodano & Sembenelli, 2005:8).
·The higher education institution policies
Are you a business owner or are you in charge of running a business, particularly one that is in an office setting? If you are and if you are located in or around the Dallas area, do you currently use the services of a Dallas office cleaning company? If you aren’t already using the services of a Dallas office cleaning company, you may want to look into to doing so. After all, there are a number of benefits to hiring the services of a professional Dallas office cleaning company.Perhaps, one of the biggest benefits to hiring the services of a professional Dallas office cleaning company is the results. To be considered a professional Dallas office cleaning company, the company in question must have been in business for a relatively extended period of time or at least the workers should have a number of years experience with office cleaning. This experience should bring you better results, as you shouldn’t be dealing with a new company or any first time cleaners. If your business relies on customers coming in and out of your establishment, the appearance of your office, particularly its cleanliness is important. Doing business with a Dallas office cleaning company can give you the results that you were hoping for.In addition to the results, there are a number of other benefits to using the services of a Dallas office cleaning company. One of those other benefits is the time that you should be able to save. If you are currently not using the services of a professional Dallas office cleaning company, how is your office getting cleaned? If you are having one of your employees do some cleaning whenever they have the chance, they may essentially be wasting their time or missing out on the ability to finish something more important. If you are hiring an onsite janitor, you may actually be costing yourself more money. That is why it is advised that you look into the available Dallas office cleaning companies in or around your area. They can not only save you time, but they may also be able to save you a little bit of money.Another benefit of using the services of a professional Dallas office cleaning company is the many choices that you will have. In or around the Dallas area, there are a number of different Dallas office cleaning companies. In addition to offering different services, these companies also tend to charge different amounts of money for their services. This means that whatever you are looking for, even if you are on a budget, you should be able to find at least one Dallas office cleaning company that can provide you with what you need.If you are interested in hiring the services of a Dallas office cleaning company, you should be able to find a number of companies online or in your local Dallas phone book. The only thing that you will want to remember is to keep the services offered, as well as the cos
Problem statement
The research question under discussion is formulated as What minimum requirements should be set in an entrepreneurial and innovation framework in order to support entrepreneurial and innovation knowledge creation at institutions of higher education?
Purpose
This article attempts to develop a framework to encourage entrepreneurial thinking within a higher education environment, taking into account consideration policy and infrastructural requirements, knowledge creation fundamentals and institutional arrangements.
Policy intervention
Policy initiatives within higher education institutions are essential to establish guidance for entrepreneurs, funding agencies, industry, labour in general and for students and institutions of higher education in particular. From a higher education perspective government as well as institutional policy requirements will be discussed in brief.
·Government policies
If this is to be accomplished it will require government intervention to construct policies which should include the reduction of taxation in the form of capital gains tax rate, providing incentives for increased spending on research and development, encouraging active venture capital markets, an alteration of the ‘hiring and firing’ labour regulations, and encouraging the spending on new technology shares (Da Rin, Nicodano & Sembenelli, 2005:8).
·The higher education institution policies
Individuals dealing with catastrophic injuries and health problems often need an advocate to help them effectively deal with all the issues surrounding this type of serious situation. Life care planners bridge the gap between the medical and legal communities helping patients and their families cope with these issues and provide and maintain the best quality of life possible for the patient.Who Can Become A Life Care Planner?Life Care Planning requires a particular skill set. Qualified rehabilitation professionals and registered nurses interested in facilitating the treatment and care of individuals with catastrophic injuries or chronic health problems can earn their Life Care Planning Certification online and find career options in this vital field. Others who might also be interested in life care planning include occupational therapists, physical therapists, rehabilitation counselors, case managers, social workers, psychologists, medical doctors, chiropractors, nurse practitioners, special education professionals, licensed speech pathologists, and professional counselors.Help Patients Improve their Quality of LifeLife care planners help patients find ways to best manage their day-to-day lives along with issues such as planning for necessary long-term care and discovering the options for providing the best quality of life possible for the patient.Project Medical Costs and Provide Legal AdviceLife care planners analyze and project future medical costs as well as the cost of long-term care, and as a result are often called upon to testify regarding the loss of future earnings and rehabilitation needs in lawsuits involving their clients. As a life care planner, you can be a comfort to the patient as someone who knows medical terminology and can offer legal advice.Work with Doctors and Medical Staff to Provide Optimal CareOne of the vital roles of the life care planner is to meet with the patient's physician to explore the most effective life care plan based on the individual needs of the patient. Life care planning has different aspects such as planning for long-term care and planning for end-of-life care. All of the duties of an effective life-care planner relate to the knowledge of the medical field; that's why the certification for life care planning is available to those who already have a medical background. Related fields include case management and legal nurse consulting, physical therapists and others.Career Opportunities for Life Care PlannersCareer options for a well-qualified life care planning consultant are varied for whatever suits your personal goals including these: Government Agencies Law Firms Insurance Xompanies HMOs Independent Practice Online Educa
Problem statement
The research question under discussion is formulated as What minimum requirements should be set in an entrepreneurial and innovation framework in order to support entrepreneurial and innovation knowledge creation at institutions of higher education?
Purpose
This article attempts to develop a framework to encourage entrepreneurial thinking within a higher education environment, taking into account consideration policy and infrastructural requirements, knowledge creation fundamentals and institutional arrangements.
Policy intervention
Policy initiatives within higher education institutions are essential to establish guidance for entrepreneurs, funding agencies, industry, labour in general and for students and institutions of higher education in particular. From a higher education perspective government as well as institutional policy requirements will be discussed in brief.
·Government policies
If this is to be accomplished it will require government intervention to construct policies which should include the reduction of taxation in the form of capital gains tax rate, providing incentives for increased spending on research and development, encouraging active venture capital markets, an alteration of the ‘hiring and firing’ labour regulations, and encouraging the spending on new technology shares (Da Rin, Nicodano & Sembenelli, 2005:8).
·The higher education institution policies
Should you sell yourself at work?If you want to move up the corporate ladder and get noticed, yes you should.At the end of the day, we’re all salespeople no matter what job we do and in virtually all aspects of our life. We sell ourselves to potential employers, potential customers, potential significant others and potential friends.Selling yourself simply refers to showing others what you are capable of and promoting your skills and worth to others.In a work context, selling yourself could refer to letting your peers and superiors know about your skills and the reasons why you exist in the company.If you work for a large company where it’s easy to get lost, the importance of some degree of self promotion becomes even more important if you expect to get noticed by higher ups.Do you work with people where you wonder exactly what that person does for the company? What purpose do they serve and would anyone notice if they stopped showing up to work?Learning how to market yourself is the best way to ensure you don’t become one of these people.Here are some suggestions to help you get noticed and to sell yourself at work: Speak up in meetings.Obviously you don’t want to just speak for the sake of speaking but how many times do you attend a meeting where you say nothing and let others do all the talking? Contributing during meetings is a great way to sell yourself and to get noticed by others. If you have something to say, say it. Not saying anything and not getting involved in meetings can be misconstrued by others as proof of indifference on your part.Get to know people in other parts of the company.I once worked for a company with over 5,000 staff. It was easy to get lost in the shuffle and it took me awhile to get to know people and for them to know me. That changed when I was nominated to work on a project that involved several other departments. Pretty soon, I had people from departments I’d never heard of contacting me to discuss my work and to learn more about what I was doing. I very quickly started to get known in parts of the company that would never have known me if not for me being nominated for this project. Moral of the story: look for ways you can nominate yourself for projects that will get your name known in other parts of the company.Offer to work on a project or task that no one else wants to do.I once worked on a project that no one else wanted to do, a project that several other people had already tried and failed completing. I started working on the project and quickly managed to push it farther than anyone else had in the previous 3 years and received a great deal of praise from superiors because of it. I also got to know people in other parts of my company and they got to know me, too. The best part of this tas
·Government policies
If this is to be accomplished it will require government intervention to construct policies which should include the reduction of taxation in the form of capital gains tax rate, providing incentives for increased spending on research and development, encouraging active venture capital markets, an alteration of the ‘hiring and firing’ labour regulations, and encouraging the spending on new technology shares (Da Rin, Nicodano & Sembenelli, 2005:8).
·The higher education institution policies
The higher education institution must provide a working atmosphere in which entrepreneurship can thrive. Venkataraman (2003:154) proposes that it is not merely the injection of capital that enhances the development of entrepreneurship. Rather, it is the tangible infrastructural essentials such as capital markets, advanced telecommunications, sound legal and transportation systems. In addition, intangible components must be in place. These intangibles are access to novel ideas, informal forums, role models, region specific opportunities, access to large markets, safety nets and executive leadership. As policy within the institution is developed it must consider and include a planning process to accommodate these essentials.
Policy must also augment the entrepreneurial culture within the higher education institution as a new mindset of students must be established from one of expecting to be employed, to one of providing work opportunities for others. Technology licensing offices (TLOs) must be established at the higher education institutions. Stanford University sponsored research expenditures of US$391 million generated 25 TLO start ups in 1997 (Gregorio & Shane, 2003:209). An investment in patent rights by the higher education institutions will ensure future capital investments into the institution. Intellectual property (IP) policies should be framed so as to capture the wealth generated and to distribute it equitably between investors, partners, the university and the entrepreneur. Such rewards will generate future interest for both the investors and the entrepreneurs. Policies, procedures and network contacts to capture venture capital must be established.
Research and Development policies in entrepreneurship must be refined and focused. Currently, the focus of entrepreneurial research at Tshwane University of Technology in South Africa falls within the three niche areas of business clustering, business development and management of innovation. In each of these niche areas it will be necessary to develop Masters and Doctorate programmes in entrepreneurship and innovation. This in turn will mean a need for the improvement of the staff qualification profile within these areas. Along with the Masters and Doctorate programmes, accredited research outputs must be produced in entrepreneurship and innovation (Grundling & Steynberg, 2006:6). In addition to the Masters degrees in Entrepreneurship and the Masters degree in Comparative Local Development, a Masters degree in Cognitive Reasoning should be considered for the future. Such a course should include a thorough foundation in finance reasoning along with creative thinking and business planning.
Institutional structures to be established
The higher education institution will have to establish itself as a seamless knowledge node into which a variety of parties can contribute. Parties contributing to such a knowledge node might include industrial partners, specialists from industry, relevant government agencies, foreign investors, community forums, labour uni
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