Incubating Entrepreneurialism
by Piero Formica & Nick Hixson

Posted on Leave a commentPosted in 10th Global Peter Drucker Forum

Defining the new entrepreneurship: how it’s different from the current one A gap between entrepreneurship and art has arisen over past industrial revolutions. New entrepreneurship aims to close the gap. It is imbued with entrepreneurialism, transplanting into the socio-economic sphere Brunelleschi’s Renaissance perspective in the art world. Current entrepreneurship is in the STEM field, following the Fordist production environment, characterised by the bureaucracy of the 20th century. Know How To Do now has to be Knowing How To Think, Imagine and Understand. This requires familiarity with the Arts. STEM changes to STEAM. In the new entrepreneurship mode, innovationists take over from incrementalists. Digitisation joins science and engineering with design and arts, enabling creativity in human-centred […]

Trans-managerialism breaks down fences that confine innovation
by Piero Formica

Posted on Leave a commentPosted in 10th Global Peter Drucker Forum

There is a painting by the German painter Peter von Cornelius (1784-1867) in which one sees Gunther, King of Burgundy, ordering Hagen, a Burgundian warrior, to sink the treasure of the Nibelung. Siegfried, the visionary innovator, will win the Nibelung treasure. Akin to the mythological lineage of the Nibelung, managers hold the vast treasure that consists of customers and consumers. As with Siegfried, visionary innovators will win it. But the past is hard to kill, for the visionaries first appear with products and services that initially look like ugly ducklings. In addition to technological failures, the first steamboats were clumsy and even dangerous, while evolutionary technologies made sailing boats increasingly beautiful and more performing. The […]

The Digital Factory: Recombining Hand and Head
by Piero Formica

Posted on Leave a commentPosted in 10th Global Peter Drucker Forum

#Cloud computing, e-commerce, the mobile internet, artificial intelligence, machine learning, and the Internet of Things trigger changes in business models and blur the boundaries of industries. Genomics, nanotechnology and robotics question what is ideally described as the scientific method. The human being is subjected to upheavals of such magnitude in his double profile of man who makes and man who thinks. The first, the Homo laborans, questions the ‘how’ the mutations happen; the second, the Homo faber, the ‘why’. Are the two personalities compatible? Do the ‘how’ of making new things efficiently and the ‘why’ of ‘making thinking’ to transform the reality coexist in the same person? Two diametrically opposed scenarios are posed by such […]

Management: Shaping the Future of the Human Dimension
Piero Formica

Posted on Leave a commentPosted in 10th Global Peter Drucker Forum

Practices akin to Bible scriptures, which require an exercise in logic to understand their meaning, are the distinctive feature of management as it has evolved during successive industrial revolutions. Humanism – a way of life centered on human values and a critical spirit – is forced within a “sacred” enclosure, and the human dimension of management is shrinking even more with the growing performance of a wide range of technologies that replace human beings in the adoption and implementation of managerial practices.   Staunch supporters of the claim that existing knowledge is the source from which most innovation stems lead the managerial enterprise. They are managers in the shoes of Ptolemaic “knowledgists” who search paths […]

Open Innovation and Altruism
The fortunate combination that stimulates growth with inclusive prosperity
by Piero Formica

Posted on 2 CommentsPosted in 9th Global Peter Drucker Forum

Altruism perfectly fits in with inclusive prosperity. Open innovation (OI)-driven growth with knowledge, competencies, and skills freely exchanged across cultural groups is the zeitgeist of the 21st century, characterized as it is by its emphasis on the widest possible access to new knowledge and resources, producing beneficial effects in new entrepreneurial ventures. Emerging from this is a hybrid culture reflecting various strands of OI, in which altruism can be included together with open experimenting that can be unconventional. Stating that altruism is serving OI is tantamount to saying that altruism is a practical social innovation. Inward-looking, selfish organizations minimize cooperation and so stifle open innovation. Altruism opens up a promising prospect for an outward-looking approach […]

Opera House: Entrepreneurial Blending
by Piero Formica

Posted on Leave a commentPosted in 8th Global Peter Drucker Forum

The coupling of manufacturing and culture shows how far we can advance along the road towards an entrepreneurial society.   Do manufacturing and culture live in two separate and irreconcilable worlds—manufacturing in the world of things and culture in the world of ideas? Is manufacturing called upon to solve production problems, with culture pronouncing on ‘chief systems’ as in Galileo’s ‘Dialogue Concerning the Two Chief World Systems’? This is a shared vision of those who identify manufacturing with making and culture with thinking: the manual labour of artisans and technicians as opposed to the intellectual work of professors and scientists. As a result, this fault line fails to recognize that the factory is a culture […]

The Innovative Coworking Spaces of 15th-Century Italy
by Piero Formica

Posted on Leave a commentPosted in 8th Global Peter Drucker Forum

To translate educational concepts into an entrepreneurial context requires a meeting of hearts and minds, unfettered by preconceived ideas and outmoded powerbases. There are plentiful public and private initiatives to encourage new businesses in every field. This is matched by increasing activity in academic thought.   A growing number of academics, practitioners and business people are aiming to broaden and as well as deepen their knowledge of how business and economies function. The generalist or polymath, so apparent in the Renaissance, is becoming more prevalent.   This is the context in which coworking spaces are on the rise, from Google’s “Campus” in London to NextSpace in California. Much has been made of these shared workspaces […]