Mayo615’s Odyssey to France: Week 1 Update

Welcome to Mayo615’s Odyssey to France and the first of our Tuesday weekly updates. We invite you to subscribe to our YouTube Channel and follow our weekly updates. In this Week One update we will focus on my first Big Idea, and how I achieved it.  I will also discuss my three most important key takeaways from that experience. We hope that you find this video helpful in achieving your own Big Ideas and goals. So here we go.


Welcome to Mayo615’s Odyssey to France and the first of our Tuesday weekly updates

We invite you to subscribe to our YouTube Channel and to follow our weekly updates

In this Week One update we will focus on my first Big Idea, and how I achieved it.  I will also discuss my three most important key takeaways from that experience. We hope that you find this video helpful in achieving your own Big Ideas and goals. So here we go.

See The Launch Of The MAYO615 YouTube Channel Trailer Here

On this YouTube Channel, we will share our Big Idea: our personal goal and invite you to participate with us, share your comments and questions and perhaps motivate you to achieve your own Big Idea. We will post an update on our project every Tuesday. We invite your comments and questions about your own Big Idea while you follow ours. We will both reply to all comments and will feature the best questions in our YouTube update videos each week. So click SUBSCRIBE and let’s get started!


 

The launch of the Mayo615 YouTube Channel Trailer

 

 

On this YouTube Channel, we will share our Big Idea: our personal goal and invite you to participate with us, share your comments and questions and perhaps motivate you to achieve your own Big Idea. We will post an update on our project every Tuesday. We invite your comments and questions about your own Big Idea while you follow ours. We will both reply to all comments and will feature the best questions in our YouTube update videos each week.

So click SUBSCRIBE and let’s get started!

 

 

 

 

Yesterday’s Internet Outage In Parts of U.S. and Canada You Didn’t Hear About

A year ago, a DDoS attack caused internet outages around the US by targeting the internet-infrastructure company Dyn, which provides Domain Name System services to look up web servers. Monday saw a nationwide series of outages as well, but with a more pedestrian cause: a misconfiguration at Level 3, an internet backbone company—and enterprise ISP—that underpins other big networks. Network analysts say that the misconfiguration was a routing issue that created a ripple effect, causing problems for companies like Comcast, Spectrum, Verizon, Cox, and RCN across the country.


How a Tiny Error Shut Off the Internet for Parts of the US and Canada

Lily Hay Newman

a group of computer equipment

© Joe Raedle

A year ago, a DDoS attack caused internet outages around the US by targeting the internet-infrastructure company Dyn, which provides Domain Name System services to look up web servers. Monday saw a nationwide series of outages as well, but with a more pedestrian cause: a misconfiguration at Level 3, an internet backbone company—and enterprise ISP—that underpins other big networks. Network analysts say that the misconfiguration was a routing issue that created a ripple effect, causing problems for companies like Comcast, Spectrum, Verizon, Cox, and RCN across the country.

Level 3, whose acquisition by CenturyLink closed recently, said in a statement to WIRED that it resolved the issue in about 90 minutes. “Our network experienced a service disruption affecting some customers with IP-based services,” the company said. “The disruption was caused by a configuration error.” Comcast users started reporting internet outages around the time of the Level 3 outages on Monday, but the company said that it was monitoring “an external network issue” and not a problem with its own infrastructure. RCN confirmed that it had some network problems on Monday because of Level 3. The company said it had restored RCN service by rerouting traffic to a different backbone.

a close up of a map 

© Downdetector.com 

The misconfiguration was a “route leak,” according to Roland Dobbins, a principal engineer at the DDoS and network-security firm Arbor Networks, which monitors global internet operations. ISPs use “Autonomous Systems,” also known as ASes, to keep track of what IP addresses are on which networks, and route packets of data between them. They use the Border Gateway Protocol (BGP) to establish and communicate routes. For example, packets can route between networks A and B, but network A can also route packets to network C through network B, and so on. This is how internet service providers interoperate to let you browse the whole internet, not just the IP addresses on their own networks.

In a “route leak,” an AS, or multiple ASes, issue incorrect information about the IP addresses on their network, which causes inefficient routing and failures for both the originating ISP and other ISPs trying to route traffic through. Think of it like a series of street signs that help keep traffic flowing in the right directions. If some of them are mislabeled or point the wrong way, assorted chaos can ensue.

Route leaks can be malicious, sometimes called “route hijacks” or “BGP hijacks,” but Monday’s incident seems to have been caused by a simple mistake that ballooned to have national impact. Large outages caused by accidental route leaks have cropped up before.

“Folks are looking to tweak routing policies, and make mistakes,” Arbor Networks’ Dobbins says. The problem could have come as CenturyLink works to integrate the Level 3 network or could have stemmed from typical traffic engineering and efficiency work.

Internet outages of all sizes caused by route leaks have occurred occasionally, but consistently, for decades. ISPs attempt to minimize them using “route filters” that check the IP routes their peers and customers intend to use to send and receive packets and attempt to catch any problematic plans. But these filters are difficult to maintain on the scale of the modern internet and can have their own mistakes.

Monday’s outages reinforce how precarious connectivity really is, and how certain aspects of the internet’s architecture—offering flexibility and ease-of-use—can introduce instability into what has become a vital service.

Quantum tech is more than just crazy science: It’s good business from mobile payments to fighting the NSA,

Management students may ask why the title of this post claims that quantum technology is good business. So let me try to explain, and then read on to the PandoDaily post by David Holmes. The bottom line is that some basic understanding of quantum mechanics is going to be a valuable management skill going forward. Why? Read on


Management students may ask why the title of this post claims that quantum technology is good business. So let me try to explain, and then read on to the PandoDaily post by David Holmes. The bottom line is that some basic understanding of quantum mechanics is going to be a valuable management skill going forward. Why? Read on

Yesterday, National Public Radio in the United States (which can be heard online) broadcast a fascinating discussion about Monday’s announcement of the long awaited breakthrough of proving the existence of gravitational waves which include the fingerprint of the original Big Bang.  Featuring legendary astrophysicist Leonard Susskind of Stanford and a number of other leading physicists, the discussion inevitably drifted to quantum mechanics, and the original Big Bang itself, which Stanford Physics Professor. Chao-Lin Kuo, described as “mind scrambling.”  Quantum entanglement is another area that defies common sense: particles that mimic each other and change faster than the speed of light, which should be impossible.  Einstein’s famous quote, “God does not play dice,” was his reaction to the non-deterministic nature of quantum events and theory, which also violate his general theory of relativity. It turns out the random nature of quantum mechanics provides a superior solution for hideously complex problems, finding the best “probabilistic” solutions. Quantum mechanics is also providing a potential way forward in encryption and privacy.

Read and listen on NPR: Scientists Announce Big Bang Breakthrough

However, all of this “mind scrambling” pure science is rapidly becoming applied science: science becoming useful technological innovation and applied to economic activity.  Some of my students may recall our discussions of Moore’s Law in semiconductor design. As  Moore’s Law reaches it finite limit, quantum “technology” is creating one path forward, and providing new solutions to Internet security and supercomputing.  David Holme’s PandoDaily article today attempts to explain in greater detail why this is important for business. 

Vern Brownell, CEO of D-Wave Systems has written an excellent explanation in layman’s terms, of the importance of quantum computing, and how it differs from “deterministic” computing.

Read more:  Solving the unsolvable: a quantum boost for supercomputing

Best of all there is an excellent book for those willing to devote the time and grey matter to quantum physics, “Quantum physics, a beginners’ guide,” by Alistair Rae, available in paperback on Amazon or Kindle e-book.

quantum physics

e@UBC spins ideas of researchers and students into the real-world

Konrad Walus’s business sounds almost too futuristic — three-dimensional printing of human tissues for use in research or therapeutics.

Since last fall, however, Walus and his partners have run Aspect Biosystems Ltd. through the Entrepreneurship at UBC program, taking an idea from their research labs to incorporation, formation of a viable business plan and on to discussions with a potential first customer.

“Aspect Biosystems could not have started in a garage,” Walus said. The scientists behind it needed the testing equipment and imaging machines that go along with the infrastructure of a major research university like the University of B.C.


e@UBC

READ MORE: e@UBC spins ideas of researchers and students into real-world.

Konrad Walus’s business sounds almost too futuristic — three-dimensional printing of human tissues for use in research or therapeutics.

Since last fall, however, Walus and his partners have run Aspect Biosystems Ltd. through the Entrepreneurship at UBC program, taking an idea from their research labs to incorporation, formation of a viable business plan and on to discussions with a potential first customer.

“Aspect Biosystems could not have started in a garage,” Walus said. The scientists behind it needed the testing equipment and imaging machines that go along with the infrastructure of a major research university like the University of B.C.

And, with a new focus on innovation, UBC has a strong interest in spinning the ideas of its researchers and students (Walus is an associate professor in UBC’s electrical and engineering department) out into real-world applications.

This is where Entrepreneurship at UBC, which uses the hip acronym e@UBC, comes in.

e@UBC and $550-million worth of ideas

“The whole goal is to get all of this knowledge, both with individuals and with science, out to build great companies in B.C. and out to change the world,” said Andy Talbot, e@UBC’s executive director.

UBC revamped and relaunched the two-year-old program in September, capitalizing on a $200,000 injection from the B.C. Innovation Council that is being used to support e@UBC’s mentorship program.

The process starts with a meeting where the student or researcher with the idea and staff at e@UBC figure out what they need.

Talbot said if the proponent just needs a bit of one-one-one coaching to help with an idea, e@UBC will match them with a mentor. If the idea is still “just for fun,” their staff might direct them to one of the regular workshops or “start-up weekend” events that the program regularly hosts.

“If they have an idea that’s useful for an accelerator program, we put them into an accelerator program” and on the path to creating a new company, Talbot said.

And with some $550 million worth of research going on at UBC in a given year, Talbot said, the university has a lot of raw material to work with to form new companies.

“Our goal is that there is another Google, there is another Apple out there and they’re coming from the scientists and technology (at UBC),” he added.

Enter the accelerator

Talbot said 100 ideas — brought in by individuals or groups — have entered the e@UBC process since it re-launch in September, and so far 10 have made it through the accelerator, a sort of entrepreneurial boot-camp, to incorporate as a new company. Aspect Biosystems is one of them.

“It’s an eight-week program where we try to get people from an idea to a validated business model,” he said.

Primarily, that means getting researchers out of their labs and into the market to meet as many potential customers as possible.

Validation of a business plan determines that “yes, someone cares about (the idea) and would buy it. Then we can form a company from that,” Talbot said.

Walus credits the accelerator with steering Aspect away from the wrong direction and putting them on a more viable path.

“When we thought about commercializing, we thought about making a (3D) printing system, adding a whole bunch of features to it and hoping someone would buy it,” Walus said. “The program changed our thinking about it.”

Aspect Biosystems’ process is to engineer biological tissues that mimic human cellular structures, and print them out using 3D printing technology.

In going to potential buyers to ask them what they wanted, Walus said they “worked from the customer back to the technology,” rather than the other way around. “That’s been extremely valuable.”

Beyond boot camp

After completing the boot camp, Walus said, Aspect’s founders have continued using mentoring from Talbot to nurture their business.

Once a business is off the ground, UBC’s Industry Liaison Office can step in to help if it needs to acquire intellectual property rights, or e@UBC can find them space and support services.

The organization even has benefactors who can invest seed funding, $150,000 to $200,000, which a new business can leverage to earn grant funding or to attract other angel investors.

The reality

Walus said the initial application for Aspect’s technology will be in drug discovery, creating computer-programmed human tissues that are better models for testing new therapeutics than traditional early testing methods.

“It’s quite possible, stemming from this, there will be whole classes of new therapeutics,” he added, noting that they are in late-stage discussions with their first customer, a big pharmaceutical firm.

Down the road, Walus said, the goal is to create tissues that could be used as patches in wound healing. Eventually, the technology could be used to print organs for transplant, but Walus said there are a lot of challenges between now and then.

“It’s a 15-20 year vision before we’d have, let’s say, ‘off the shelf organs,’” he said.

Read more: http://www.vancouversun.com/business/technology/Entrepreneurship+spins+ideas+researchers+students/9490766/story.html#ixzz2t3naIs1F

Technology Entrepreneurship: Free Stanford University Online Course

Stanford University’s free online course, Technology Entrepreneurship begins this week. I have agreed to be a mentor to a maximum of two entrepreneurial teams in this Stanford online course.
In addition to being free you can follow the course on your schedule via the posted video lectures. The course will be taught by Assistant Professor Chuck Eesley. The recommended textbook, Technology Ventures, by Thomas Byers, Richard Dorf, and Andrew Nelson, is available as an etextbook on CourseSmart or Kindle. The first three course videos are available online now.

I will also be working this term with Professor Thomas Hellman at the University of British Columbia’s Sauder School of Business on his Technology Entrepreneurship course. I will be scheduling time to meet with students for both the Stanford and UBC Sauder courses. Further information on dates and times will be posted here.


Stanford University’s free online course, Technology Entrepreneurship begins this week. I have agreed to be a mentor to a maximum of two entrepreneurial teams in this Stanford online course.

In addition to being free you can follow the course on your schedule via the posted video lectures. The course will be taught by Assistant Professor Chuck Eesley.  The recommended textbook, Technology Ventures, by Thomas Byers, Richard Dorf, and Andrew Nelson, is available as an etextbook on CourseSmart or Kindle.  The first three course videos are available online now.

I will also be working this term with Professor Thomas Hellman at the University of British Columbia’s Sauder School of Business on his Technology Entrepreneurship course. I will be scheduling time to meet with students for both the Stanford and UBC Sauder courses.  Further information  on dates and times will be posted here.

VIDEO: Stanford University E145: Technology Entrepreneurship, Introduction & Overview

Register for this free course here: Free Registration for Technology Entrepreneurship

Recommended Textbook

TechnologyVentures

Technology Ventures: From Idea to Enterprise

Byers, Dorf, Nelson

McGraw Hill

ISBN:  978–0–07–338018–6

Engineer to Entrepreneur

At the request of Professor Ray Taheri of the UBC Engineering Faculty, I gave this guest lecture to all 4th year engineering students in ENGR 499 Capstone Project. From my background in entrepreneurial mentorship and entrepreneurial finance, I focused on the unique challenges engineers face in considering starting and developing a new venture. I discuss the full range of issues, but my personal emphasis, from experience, is the “character” issue. Some excellent engineers have successfully made the transition to entrepreneurship and executive management, but for others the odyssey is a bridge too far. Consequently, I place significant emphasis on honest self-analysis and appreciation of one’s strengths and weaknesses. Listening is a priceless skill.


At the request of Professor Ray Taheri of the UBC Engineering Faculty, I gave this guest lecture to all 4th year engineering students in ENGR 499 Capstone Project.  From my background in teaching management and entrepreneurial mentorship, I focused on the unique challenges engineers face in considering starting and developing a new venture. I discuss the full range of issues, but my personal emphasis, from experience, is the “character” issue.  Some excellent engineers have successfully made the transition to entrepreneurship and executive management, but for others, the odyssey is a bridge too far.  Consequently, I place significant emphasis on honest self-analysis and appreciation of one’s strengths and weaknesses.  Listening is a priceless skill. If you have experienced Larry Page, he is an excellent example of an engineer who has very successfully transitioned into a senior management role. Sergei, on the other hand, opted for a CTO-like role, which I think was the right choice for him.

Engineer to Entrepreneur Presentation Transcript

  • 1. Engineer to Entrepreneur Engineering 499 Capstone Project , Winter 2013 ©David Mayes 1
  • 2. Engineer to Entrepreneur David Mayes, Lecturer: UBC Faculty of Management ©David Mayes 2
  • 3. Engineer to Entrepreneur Engineering 499 Capstone Project, Winter 2013 David Mayes Lecturer, Faculty of Management ©David Mayes 3
  • 4. Lecturer Introduction: UBC Faculty of Management ENGR 499, Engineering Capstone Project ©David Mayes 4
  • 5. ENGR 499, Engineering Capstone Project Instructor Introduction David Mayes: UBC Faculty of Management LinkedIn Profile: http://www.linkedin.com/in/mayo615 UBC Office: EME 4151 (250) 807-9821 / Hours by appt. Email: david.mayes@ubc.ca Mobile: (250) 864-9552 Twitter: @mayo615 Experience: Executive management, access to venture capital, International business development, sales & marketing, entrepreneurial mentorship, technology assessment, strategic planning, renewable energytechnology. Intel Corporation (US/Europe/Japan), 01 Computers Group (UK) Ltd, Mobile Data International (Canada/Intl.), Silicon Graphics (US), Sun Microsystems (US), Ascend Communications (US/Intl.), P-Cube (US/Israel/Intl.), Global Internet Group LLP (US/Intl.), New Zealand Trade & Enterprise. ©David Mayes 5
  • 6. Agenda • Engineer to Entrepreneur: • Common Business Misperceptions • What is Entrepreneurship? • The need for Competitive Advantage • UBC Library “entrepreneurship”resources • UBC Small Business Accelerator ENGR 499, Engineering Capstone Project, Winter 2013 Engineer to Entrepreneur ©David Mayes 6
  • 7. Engineer to Entrepreneur: Common Misperceptions ENGR 499, Engineering Capstone Project ©David Mayes 7
  • 8. ENGR 499, Engineering Capstone Project Engineer to Entrepreneur: Common Misperceptions Misconception # 1: “Everybody Loves “Cool New Technology” • Not exactly! • Assess commercial viability first! • Listen to potential customers • Validate with third party market research ©David Mayes 8
  • 9. ENGR 499, Engineering Capstone Project Engineer to Entrepreneur: Common Misperceptions Misconception # 2: “I need to go-it-alone to insure quality & design elegance” • Working alone or only with other engineers sounds good, but… • You need a team with diverse skills to build a thriving business • Think “business management” from the outset ©David Mayes 9
  • 10. ENGR 499, Engineering Capstone Project Engineer to Entrepreneur: Common Misperceptions Misconception # 3: “Marketing is fluff and selling is black magic” • If you build it, they will NOT necessarily come! • In reality, many “best designs” lose to competitors with better marketing • Intel 8086 was a “DOG!” ©David Mayes b
  • 11. ENGR 499, Engineering Capstone Project Engineer to Entrepreneur: Common Misperceptions Misconception # 3: “Marketing is fluff and selling is black magic*” *UBCO Library ©David Mayes 11 Davidow, William, (1986); Marketing High Technology: An Insider’s View, New York, The Free Press
  • 12. ENGR 499, Engineering Capstone Project Engineer to Entrepreneur: Common Misperceptions Misconception # 4: “We need to maximize functionality before we focus on customers” • You can’t engineer the right functionality UNTIL you focus on listening to customers • Customers will buy only the functionality they need and want…nothing more ©David Mayes 13
  • 13. ENGR 499, Engineering Capstone Project Engineer to Entrepreneur: Common Misperceptions Misconception # 5: “A good engineer hates unpredictability and risk” • A good entrepreneur embraces risk • Engineer driven solutions are often too little, too late…if they ever ship! • Managing risk is good; trying to eliminate risk is bad ©David Mayes 13
  • 14. ENGR 499, Engineering Capstone Project Engineer to Entrepreneur: Common Misperceptions Misconception # 6: “We can’t worry about making money until we get it built” • If you can’t make money, it isn’t a business • Business and market constraints are key determinants of “getting it right” • Getting it right at the wrong cost = failure ©David Mayes 14
  • 15. ENGR 499, Engineering Capstone Project Engineer to Entrepreneur: Common Misperceptions Misconception # 7 “Outside financing causes loss of control and undue pressure to deliver” • Funding turbocharges a startup company • “Smart money” adds management value • Canadian gov’t grants focus on pure R&D • “Grantsmanship” is bad business strategy • Angels and VC’s focus on making money ©David Mayes 15
  • 16. ENGR 499, Engineering Capstone Project Engineer to Entrepreneur Suggested Reading* Uppuluri, Krishna (2011), Engineer to Entrepreneur, The First Flight, self-published, Krishna Uppuluri * UBCO Library ©David Mayes 16
  • 17. Agenda • Engineer to Entrepreneur: • Common Business Misperceptions • What is Entrepreneurship? • The need for Competitive Advantage • UBC Library “entrepreneurship”resources • UBC Small Business Accelerator ENGR 499, Engineering Capstone Project, Winter 2013 Engineer to Entrepreneur ©David Mayes 17
  • 18. What is Entrepreneurship? ENGR 499, Engineering Capstone Project ©David Mayes 18
  • 19. ENGR 499, Engineering Capstone Project What is Entrepreneurship? Entrepreneurial Opportunity • An economically attractive and timely opportunity that creates value. • The best opportunities exists only for the entrepreneur who has the interest, resources, and capabilities required to succeed. ©David Mayes 19
  • 20. ENGR 499, Engineering Capstone Project What is Entrepreneurship? The First Consideration: Your “Character” • Self-analysis: Do you have what it takes to be an entrepreneur? • Discuss your personality, capabilities, strengths and weaknesses with a mentor who knows you. • Listen! • Are you a visionary leader? • What about the chemistry with your team? • Investors will focus on three things: • “The team, the team, and the team.” ©David Mayes 20
  • 21. Entrepreneurial Incentives ©David Mayes 21 ENGR 499, Engineering Capstone Project What is Entrepreneurship?
  • 22. Drawbacks of Entrepreneurship • Hard work – Finding new customers and markets – Frustrations with financing, government, tax, technology, and employment issues • Long hours – 20% work more than 60 hours per week • Emotional loneliness • Strong possibility of failure • Disruptions to personal life ©David Mayes 22 ENGR 499, Engineering Capstone Project What is Entrepreneurship?
  • 23. Causes of Business Failure • Lack of managerial and financial abilities • Fail to adapt to competitive environment • A broad based study found the following: – 32% inadequate research and development – 23% lacked competitive advantage – 14% uncontrolled costs – 13% poorly developed marketing strategies – 10% poor market timing – 8% succumbed to competitor activities ©David Mayes 23 ENGR 499, Engineering Capstone Project What is Entrepreneurship?
  • 24. Characteristics of Artisan Entrepreneurs • A person with primarily technical skills and little business knowledge: – Paternalistic approach – Reluctance to delegate – Narrow view of strategy – Personal sales effort – Short planning horizon – Simple record keeping ©David Mayes 24 ENGR 499, Engineering Capstone Project What is Entrepreneurship?
  • 25. Characteristics of Opportunistic Entrepreneurs • A person with both business skills and technical knowledge: – Scientific approach to problems – Willing to delegate – Broad view of strategy – Diversified marketing approach – Longer planning horizon – Sophisticated accounting and financial control ©David Mayes 25 ENGR 499, Engineering Capstone Project What is Entrepreneurship?
  • 26. Four Routes to Entrepreneurship Entering a family business Opening a franchised business Starting a new business Buying an existing business ©David Mayes 26 ENGR 499, Engineering Capstone Project What is Entrepreneurship?
  • 27. Agenda • Engineer to Entrepreneur: • Common Business Misperceptions • What is Entrepreneurship? • The need for Competitive Advantage • UBC Library “entrepreneurship”resources • UBC Small Business Accelerator ENGR 499, Engineering Capstone Project, Winter 2013 Engineer to Entrepreneur ©David Mayes 27
  • 28. The Need for Competitive Advantage ENGR 499, Engineering Capstone Project ©David Mayes 28
  • 29. ENGR 499, Engineering Capstone Project The Need for Competitive Advantage Creating a New Business Entrepreneurs may start a new business from scratch due to several reasons: • A new product or service • Favourable conditions such as location, equipment, employees, suppliers or bankers • To capitalize on competitors’ weaknesses ©David Mayes 29
  • 30. ENGR 499, Engineering Capstone Project The Need for Competitive Advantage Evaluative Criteria – Market Factors ©David Mayes 30
  • 31. ENGR 499, Engineering Capstone Project The Need for Competitive Advantage Evaluative Criteria – Competitive Advantage ©David Mayes 31
  • 32. HMKNT 401, Introduction of Entrepreneurship The Need for Competitive Advantage Evaluative Criteria – Economics ©David Mayes 32
  • 33. ENGR 499, Engineering Capstone Project The Need for Competitive Advantage Types of Ideas That Evolve Into Start-ups ©David Mayes 33
  • 34. HMKNT, Introduction to Entrepreneurship The Need for Competitive Advantage Competitive Advantage • A firm offers a product or service that is perceived by customers to be superior to those of competitors, thereby promoting firm profitability • To establish competitive advantage, a business owner needs to understand the nature of the environment – External – what business potentials exist – Internal – what the firm is able to do ©David Mayes 34
  • 35. ENGR 499, Engineering Capstone Project The Need for Competitive Advantage Sustaining Competitive Advantage • An established, value-creating industry position that is likely to endure over time • Markets are dynamic and in constant flux • Results include superior profitability, increased market share, and improved customer satisfaction ©David Mayes 35
  • 36. ENGR 499, Engineering Capstone Project The Need for Competitive Advantage Assessing the Environment • The Macroenvironment – A broad environment with its multiple factors that affect most businesses in a society • STEEP – Sociocultural, Technological, Economic, Environmental, Political/Legal • Industry Environment – The combined forces that directly impact a given firm and its competitors ©David Mayes 36
  • 37. ENGR 499, Engineering Capstone Project The Need for Competitive Advantage Strategies That Capture Opportunities • Broad-Based Strategy Options –Seek an advantage in cost or marketing • Cost-Advantage Strategy and Options Requires the firm to be the lowest-cost producer » WestJet began as a low-fare, no-frills airline • Marketing-Advantage Strategy Emphasizing the uniqueness of the firm’s product or service » WestJet is moving to differentiate based on quality service ©David Mayes 37
  • 38. ENGR 499, Engineering Capstone Project The Need for Competitive Advantage Environmental and Organizational Impact on Opportunity Assessment ©David Mayes 38
  • 39. ENGR 499, Engineering Capstone Project The Need for Competitive Advantage Core Competencies and Assessing the Organization • Core Competencies • Value-creating organizational capabilities that are unique to a firm • Resources versus Capabilities • Resources are basic inputs that a firm uses to conduct business (capital, technology, equipment, employees, etc.) • intangible and tangible resources • Capabilities are the integration of several resources which are deployed together to the firm’s advantage. ©David Mayes 39
  • 40. HMKNT 401, Introduction to Entrepreneurship The Need for Competitive Advantage Venture Feasibility Assessment Model • Stage 1: Back-of-the-Envelope concept – Potential customers, technology available, match to entrepreneur, financial feasibility » Decision: go or no go • Stage 2: Research and Verification – Detailed analysis of customers, competition, HR required, technical and financial feasibility » Decision: go or no go • Stage 3: Refine the Concept – Detailed business plan » Decision: go or no go ©David Mayes 40
  • 41. ENGR 499, Engineering Capstone Project The Need for Competitive Advantage Taking the Plunge • A Precipitating Event An event, such as losing a job, that moves an individual to become an entrepreneur. Job termination Job dissatisfaction Unexpected opportunity ©David Mayes 41
  • 42. ©David Mayes 42 Mullins, John. (2010) 3rd Edition. The New Business Road Test. Harlow, UK: Prentice Hall, Financial Times Suggested Reading:
  • 43. Agenda • Engineer to Entrepreneur: • Common Business Misperceptions • What is Entrepreneurship? • The need for Competitive Advantage • UBC Library Resources • UBC Small Business Accelerator ENGR 499, Engineering Capstone Project, Winter 2013 Engineer to Entrepreneur ©David Mayes 43
  • 44. UBC Entrepreneurship Resources HMKNT 401 Introduction to Entrepreneurship ©David Mayes 44
  • 45. UBC Library “Entrepreneurship” Resources UBC-O Library Resources: • UBC Library, Industry Research Resource Guide: http://guides.library.ubc.ca/new_enterprise_development#tabs-6 • UBC, additional Industry and Market Research Resources: http://toby.library.ubc.ca/subjects/subjpage2.cfm?id=660 ©David Mayes 45
  • 46. Agenda • Engineer to Entrepreneur: • Common Business Misperceptions • What is Entrepreneurship? • Start-up and the need for Competitive Advantage • UBC Library Resources • UBC Small Business Accelerator ENGR 499, Engineering Capstone Project, Winter 2013 Engineer to Entrepreneur ©David Mayes 46
  • 47. UBC Small Business Accelerator Human Kinetics 401, Introduction to Entrepreneurship ©David Mayes 47
  • 48. http://www.sba-bc.ca/ UBC Small Business Accelerator ©David Mayes 48
  • 49. Additional Entrepreneurial Resources ENGR 499, Engineering Capstone Project ©David Mayes 49
  • 50. • entrepreneurship@ubc • http://www.entrepreneurship.ubc.ca/ • UBC Industry Liasion Office (UILO) • http://www.uilo.ubc.ca/pages/entrepreneurship/voucher Additional UBC Resources ©David Mayes 50
  • 51. Questions? ©David Mayes 51
  • 52. ©David Mayes 52

UBC Digital U Competition: We Are Way Overdue To Make Our Mark


DigitalUContestPoster

In Digital Textbook Transition, Device Availability Is Just The Beginning


The digital textbook market still seems likely to proceed at a snail’s pace. It also appears that the university textbook market may be a very different market segment from the broader book market represented by Barnes & Noble, Borders, and Chapters in Canada. Current UBC Bookstore estimates of E Reader textbook sales is 5%. Renting textbooks, textbook sharing, and just flat out electing not to buy the textbook still seem strong trends.

The high prices of the big textbook publishers, Wiley, Pearson, and Addison Wesley would cause one to surmise that the price of hardbound textbooks would drive students to much lower cost electronic licenses on e readers, but this does not seem to be the case.  Theories abound as to the reason for this.  A common explanation is fear of the technology not working at exactly the wrong moment, and limited or no technical support available, compared to the simplicity of old fashioned paper books.

This morning, a NPR Morning Edition story also delved into this topic,  reporting on young readers who still want paper bound books, or as one suggested, they may want both paper and e book, but paper still trumps.  It seems clear that there is strong consumer resistance to moving to e books.

Gigaom

Among technology’s top titans, the race is on to bring tablet-based digital textbooks into the classroom. Since launching the iPad, Apple (s AAPL) has made a big push in education, and its expected iPad Mini launch this week will likely open it up to an even wider range of education customers. Last week, Amazon (s AMZN) announced a new Whispercast feature to help schools centrally purchase and distribute content to a fleet of student devices. And Microsoft’s Surface (s MSFT), as well as Samsung’s Galaxy Note 10.1 and Chromebook (released with Google (s GOOG)), are also contenders for new classroom tools.

With each new launch, someone inevitably declares the impending end of physical textbooks, as though those tech giants control the levers responsible for the successful adoption of new technology in schools. But while the tech industry plays a significant role in the transition to digital textbooks, making devices…

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