Programme Introduction Information Exchange & Cooperation News

New Vision Lecture 44: Entrepreneurship and Innovation

publisher:createtime: 2017-04-17

 

On the afternoon of April 17th, Professor Virginia Trigo of ISCTE Lisbon University Institute visited the MBA Education Center, and discussed with the students the contemporary entrepreneurship and innovation in the school auditorium. The lecture was presided over by Zhu Wenzhong,executive dean of the School of Business .

Professor Virginia Trigo firstly defined “entrepreneurship”.She said entrepreneurship was the process by which individuals and groups created value by taking advantage of the valuable collected resources and the opportunities in the environment;it was an act of an individual or an organization, not an industry or a profession. At the same time, the creation of value makes entrepreneurship sustainable. Through the analysis and explanation of vocabulary, Professor Virginia Trigo emphasized the two key words of entrepreneurship: “process” and “behavior”. The entrepreneurial process involves six steps: identifying opportunities, developing business philosophy, locking resources, acquiring resources, managing and implementing, and harvesting. These six steps are gradual and cyclic. In order to prevent the loss of opportunities in the case of resources being controlled, the process should proceed from the public, serve the public and meet the needs of the public.In the entrepreneurial behavior, this behavior can be divided into three dimensions: attack, risk and innovation.She stressed that lack of market was the main risk of entrepreneurship, and research alone may not be able to obtain the latest market information.Taking Apple Corp's success as an example,the effective way to control the risk was to walk into the grass roots and understand the public's demands.When the entrepreneur has certain technical advantages and self-protection ability in the market, he needs to start fighting for “monopoly advantage”.

Taking the invention of electric light as a topic of introduction, Professor Virginia Trigo explained that innovation was the process of taking new ideas to meet customer’s needs, and the transformation of new knowledge with new products and services;at the same time, it also included value creation and efficiency improvement, which would lead to the growth of enterprises.She pointed out that innovation was the sum of origin, creativity and efficiency, and creativity as a part of innovation, included four stages: preparation, birth, achievement and confirmation.It requires diversification and also requires o enter the talent around the world, so the inevitable requirement for innovation is internationalization.And the traditional way of entrepreneurship is a commercial process where enterprises tend to fall into the price competition, therefore, this requires entrepreneurs to be creative and see the future in a new perspective.Finally, professor Virginia Trigo encouraged students to be entrepreneurial, innovative and ultimately successful in their career.

In the interactive session, Professor Virginia Trigo also discussed with MBA teachers and students about how to solve the obstacles and other problems in the entrepreneurial process.