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Week of September 8 - 14, 2008 |
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Transformation: It’s Harder Than it Looks
The rapid pace of technological change means
that companies need to be able to quickly transform themselves in
response to a fluid environment. A new McKinsey & Co. survey indicates
that corporate executives are pretty glum about how they’re performing
on this front. The survey asked corporate leaders how they have
responded to some major change, such as completing a merger, responding
to a crisis, or reorganizing the company’s structure. Many executives
were not pleased with how their firms performed. Nearly half felt that
their proposed targets (e.g. cost reductions) were not clear. Two-thirds
of managers also felt they had done a poor job of engaging front-line
workers in the transformation process. The study concludes with some
tips for managing effective organizational transformations. Managers
need to plan ahead and set clearer guidelines for change. Top
leadership, starting with the CEO, needs to be actively engaged in
reaching out to all parts of the organization. Finally, firms should not
view transformation as a single, standardized process. They should
tailor their tactics and strategies to the specific outcomes they hope
to achieve. |
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Better Supports Needed for Kentucky’s Entrepreneurs The state of
Kentucky needs to do a better job of supporting its entrepreneurs,
especially those located in isolated rural regions. A new Mountain
Association for Community Economic Development (MACED) notes that
Kentucky’s small businesses account for 99% of all firms in the state,
yet many of these ventures continue to struggle. In fact, the average
income of Kentucky’s entrepreneurs falls 26.4 percent below national
averages. A number of innovative and effective support programs operate
in pockets across Kentucky, but the state has not made a serious and
substantial investment in support small business owners. The report
concludes by encouraging state leaders to invest more in entrepreneur
support efforts, to assume a more active role in coordinating local and
regional programs, and to create a state commission that helps generate
additional public support for entrepreneurship as a key state economic
development priority. |
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Many business leaders have blamed the
Sarbanes-Oxley financial regulations for the decline in the US’s
dominant position as the world’s leading financial center. New research
from professors at Ohio State’s Fisher School of Business offers some
indications that regulatory changes are not the dominant factor at work
here. The researchers examined foreign firms that have deregistered from
US financial markets. Prior to rule changes that took effect in March
2007, deregistration was a quite complicated process. The new rules made
it easier, and fifty-nine firms opted to deregister in response. In
analyzing these firms, the researchers found that the companies were not
adversely affected by Sarbanes-Oxley or other regulations. Instead, the
firms suffered from poor performance and opted to deregister because
they now faced limited opportunities to raise money in US markets. The
study concludes that, while this sample of firms was small, it did
indicate a foreign firm’s decision to register (or deregister) in US
markets is driven more by a market forces than by the impact of
regulations. |
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Africa: From Caterpillar to Cocoon
At a recent Wharton School conference on
Africa’s economic future, speakers referred to Africa’s past performance
as akin to a “caterpillar,” i.e. slow moving and easy to step on. Today,
Africa’s economy is in a “cocoon” phase---on the verge of transforming
from a resource-based economy to one based on innovation and private
sector growth. Africa has enjoyed strong growth for the past five years,
with per capita income rising by 4.6 percent since 2002. Maintaining and
increasing this pace of growth will require a number of changes in how
Africa does business. It must continue to groom management talent, and
recruit others to work in the region. African leaders in both the public
and private sectors also need to do a better job of linking to global
markets and in communicating the tremendous investment opportunities to
be found on the continent. |
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Business Leaders to Address Issues Facing Economy A live webcast of some of the country's most influential business leaders offering their perspective and vision on key issues facing our economy will be available on Monday, September 8 and Tuesday, September 9. The series of presentations are part of the Society of American Business Editors and Writers (SABEW) Fall Workshop, focused on "Agriculture, Technology and Innovation," which is being hosted and sponsored in part by the Kauffman Foundation. Duncan Niederauer, CEO, NYSE Euronext will together with Carl Schramm, president and CEO, Kauffman Foundation, address entrepreneurship, innovation and the economy; while T. Boone Pickens, chairman of BP Capital Management, will discuss his alternative energy plan and forthcoming book, The First Billion is the Hardest. Other noted speakers participating in the webcast include: U.S. Secretary of Agriculture Ed Schafer; Hugh Grant, CEO of Monsanto; Paul Kedrosky, senior fellow, Kauffman Foundation; Bo Fishback, vice president of entrepreneurship, Kauffman Foundation; Karen Kerrigan, vice president and CEO, Small Business & Entrepreneurship Council; Joe Hinrichs, vice president of global manufacturing, Ford Motor Company; and, Sandy Barauh, acting administrator of the Small Business Administration. Download a conference agenda and visit the webcast link -- www.kauffman.org/sabew -- which will be available for 30 days following the event. |
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The National Dialogue on Entrepreneurship is an initiative of the Public Forum Institute made possible by a grant from the Kauffman Foundation of Kansas City. Through NDE-news, we bring you short summaries and analyses of various trends driving entrepreneurship around the world. Subscribe now to receive your weekly copy. Archived issues are available online. |
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National Dialogue on Entrepreneurship
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stories © 2008 The Public Forum Institute
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