Stumling stones of born globals aie2013 aug presentation

Annual Conference of the Academy of Innovation and Entrepreneurship Oxford, UK , August 29 - 30 2013

Centre for Applied Research and Development in Business Globalisation

6th Annual Conference of the

Academy of Innovation and Entrepreneurship

Technology and Management for Development (TMD) Centre, University of Oxford

National Entrepreneurship Research Centre, Tsinghua University

Research Centre for Technological Innovation, Tsinghua University

Stumbling Blocks of

Born Globals



Stumbling Blocks of

Born Globals



Stumbling Blocks of

Born Globals

Indtryk under to hovedoverskrifter

1. Den globale dagsorden drejer sig (også) om innovation og iværksætteri • Vægten ligger forskelligt

• Udviklingslande• De gamle industrilande• Kina

2. Fortsat udvikling i analyseredskaber og analysekvalitet



Stumbling Blocks of

Born Globals

Dennye dagsorden: Innovation og iværksætteri



Stumbling Blocks of

Born Globals

Innovation og iværksætteriFor udviklingslandene

• Inklusiv innovation – overtager CSR

• Ændringer i politikker og deres effekt på innovation

• Udvikling på bunden af pyramiden.• ”Upgrading” af virksomheder• Effekt af produktinnovation, modifikation eller

procesforbedring• Regering og universiteters rolle i transfer af

teknologi



Stumbling Blocks of

Born Globals

De gamle industrilandesInnovation og iværksætteri

• Strategisk profil og innovationsevne• Hvilke investorer(VC, CVC, mv), der har værdi

hvornår i en ny virksomheds livscyklus• Om radikal innovation eller småinnovation

belønnes med lønsomhed og vækst• Om forskningsstøtte, projekter med universiteter

oversættes til innovation • Social kapital og graden af innovation



Stumbling Blocks of

Born Globals

Innovation og iværksætteriKina

• De store investeringer i R&D viser resultater i patenter og artikler, men ikke i innovation

• Effekten af Joint Ventures, ansættelser af forskere og ansættelser af udenlandske eksperter, ejerskab, ledelsesprofiler

• Væksthæmmere i form af korruption, uhæderlighed og uforudsigelighed

• Innovation i servicevirksomheder• Klyngeudvikling• Børsnoteringer i USA• Opkøb i Europa



Stumbling Blocks of

Born Globals

Fortsat udvikling i analyseredskaber og analysekvalitet

• Komparativ kvalitativ caseanalyse • Semantisk analyse af store dokumentmængder• Tidsserier• Sammenlignende statistikker• Statistik og data fra udviklingslande



Stumbling Blocks of

Born Globals

Reflektion

• Der er etableret megen ny viden om innovation– virksomhedsniveau– brancheniveau– region, nationalt

• Viden i form af– Sammenhænge mellem vækst

og innovation– Iværksættere og vækst– Effekt af udviklingshjælp



Stumbling Blocks of

Born Globals



Stumbling Blocks of

Born Globals

Contents

1. The research field Born Globals2. Key question in the study3. The study4. Findings5. Implications



Stumbling Blocks of

Born Globals

1. The Research FieldBorn Globals (BG)International New Ventures (INV)

Rask og Servais (2012)

ModeratorsFounders/ Manager’s International Profile

”Searching for a formula for success”

Performance



Stumbling Blocks of

Born Globals

2. Key Question

What are the strenuous issues in the the first years of operation?



Stumbling Blocks of

Born Globals

The study Business

V1 Genetic analysis

V2Rehabilitation equipment

V3Equipment for the OP room

V4 Equipment for research

V5 Equipment for analysis

V6 Consumables

V7 Genetic analysis

V8 Genetic analysis

V9 Research methodology

V10 System for training

V11Equipment for allocation of

medicine

V12Rehabilitation equipment

V13 Protein analysis

V14 Equipment for analysis

V15 Genetic analysis

• Suppliers to health sector• Recruited by snowballing• Born globals

• Business-to-Business

• Financial analysis• Qualitative interviews• Timeline• Identification of stumbling blocks



Stumbling Blocks of

Born Globals

3. Findings; 11 Stumbling Blocks

FinanceUnderstanding the customer organizationSelection of marketing variablesAccess to usersSuppliersIP rightsProduct developmentDelivery processMarket entry modeRecruitmentOrganizational structure

Stumbling Stones for

Born Globals



Stumbling Blocks of

Born Globals

Stumbling block 1Finance

Years of financial reporting

Financial investment

Positive return on

investment

V1 7 External Not realized

V2 3 Bootstrapping Not realized

V3 5 Bootstrapping Yes

V4 12 External Yes


V6 4 BootstrapExternal Not realized

V7 2 External Liquidated





V12 0 None Not realized


V14 3 External Yes

V15 16 External Yes

• A number of perfoming Born Globals were bootstrapping



Stumbling Blocks of

Born Globals

Number of professions

involved in use and purchase

Number of organizational units involved in purchase

and use

V1 1-2 2

V2 2 3

V3 3 3-5

V4 1 2

V5 3 3-5

V6 2 4

V7 Unknown Unknown

V8 1 2

V9 3 4-5

V10 1 2-3

V11 2 3-4

V12 2 4-5

V13 1 2

V14 2 3-5

V15 1-2 2-3

• Complicated purchase processes

• Time to learn

Understanding the customer organization



Stumbling Blocks of

Born Globals

Selecting marketing variables

Original target group

changed

Several experi-

ments in marketing

Experi-ments with

sales channels

V1 Yes Yes Sequential

V2 Yes Yes Several parallel

V3 No No Several parallel

V4 No No Sequential

V5 No No Several parallel

V6 To some extent Yes Sequential


V8 To some extentTo some extent

Sequential

V9 Yes Yes Sequential

V10 Yes Yes Several parallel


V12 No Yes Sequential

V13 NoTo some extent

Sequential

V14 No No Sequential

V15 No No Sequential

• Changes• Experiments



Stumbling Blocks of

Born Globals

3. Findings; 11 Stumbling Stones



Born Globals



Stumbling Blocks of

Born Globals

4. Implications:”Formula for success” must include:

• Time and resources• Experiments in marketing

• Effective logics versus predictive logics (Dew et al., 2009)



Stumbling Blocks of

Born Globals

Thank you,



Stumbling Blocks of

Born Globals

3. Findings; 11 Stumbling Stones



Born Globals