Defining a R&D Framework for Entrepreneurship and Innovation on Information Product Generation

Introduction

Knowledge is the key resource that forms the institutional basis of the post-industrial economy and society. It should be empasized that it is institutions of higher education that give tangible expression to this argument by acting as catalysts for knowledge and research-driven economic growth as well as well-being enhancement. All this finds embodiment within a new techno-academic paradigm in which the academic knowledge base is center stage as a determinant of industrial change, economic growth and general well-being. Therefore, higher education institutions should not be viewed as a regional or national resource, but rather as a node in an increasingly seamless knowledge base, which has a progressively larger interface with the knowledge-driven global economy.

Purpose

The aim of this paper is to propose a research framework for entrepreneurship and innovation suitable for a developing country enabling it to become both a producer and a consumer of innovative entrepreneurial information packages. The information products are designed to facilitate business development, and sustainable business practices, packaged to support entrepreneurial ventures in distinct epistemic cultural settings for use by multiple participants in the entrepreneurial system. The proposal is based upon a model applied at Tshwane University of Technology in South Africa.

A proposed R&D Framework

A centralised R&D focus and strategic aim is essential if Institutions of Higher Education want to act as a node in an increasingly seamless knowledge base economy. A typical vision could be to research and develop innovation business venture protocols and prototypes in the fields of business clustering, business development and management of innovation appropriate for specific regional environments in Southern Africa to be used by entrepreneurs, policy makers, and institutions of learning. The research domain could then be divided into mainstreams, culminating in specific value added outputs. The entrepreneurship and innovation outputs should typically been information products that are considered to be prerequisites for successful and sustainable entrepreneurial ventures and processes as well as for the effective management of innovation.

The second requirement is the formulation and establishment of the R&D parameters, which defines the boundaries or scope of permissible R&D conduct. The parameters can for example easily be defined in terms of three strategic parameters, namely:

1. To firstly conduct research on business clustering commonalities (networks) in order to enhance the competitive basis of firms in the Southern African market place through a process of sharing information, grouping of resources and outputs, as well as sharing of factors of production; secondly, on business clustering formation and causes for these formations in order to understand opportunities and constraints in specific clusters and lastly, the development business clustering algorithms in order to simulate specific business models and business environments.

2. Researchers will contribute to the International Business Case Study Centre and to the Centre for New Venture Creation, which will serve as business development learning environments for entrepreneurs, other researchers, students and policy makers. Research will focus on business best practices, successful new venture creation, technological entrepreneurship, growth indicators, research and innovation of key business development benchmarks and entrepreneurial training methodologies. Having these research outputs available, business capabilities will be enhanced with regards to scaleable business venture creation, business incubation, commercialisation of technologies, appropriate business competition and sustainable growth strategies, development of practical business solutions and the effective utilisation of venture support mechanisms within the Southern African context to those that desire to start-up and sustain their own businesses.

The International Business Case Study Centre and the Centre for New Venture Creation will initially focus on two extremes of business creation ventures, namely:

· Those business ventures that can be classified as high growth ventures, characterised by radical innovations and disruptive technologies.

· Those business ventures than can be classified as low growth ventures in the survivalist economy.

3. Research on the management of innovation. Innovation is considered to be one of the main drivers of economic growth and prosperity in the knowledge economy. Understanding and managing innovation processes and structures in general and particularly in Southern Africa have the potential for huge benefits for actors, local clusters, and the national system of innovation. Research in this area should promote knowledge in the fields of technopreneurship and technology management and transfer as well as intellectual property.

The last requirement is to investigate the interrelationships between the set research parameters on Entrepreneurship and Innovation. Although the two concepts are highly related to one another the interplay between the concepts are seldom investigated.

Conclusion

It is envisaged that the outputs of the research and development will extend the boundaries of business and technology innovations by making information and knowledge useful. The created business ventures protocols and information packages as well as the management of innovation, aim at designing and modelling entrepreneurial support tools for the transfer and distribution of business venture information. The developed packages will create an enabling environment and an efficient information support services to entrepreneurs, policy makers and learning institutions in Southern Africa. Furthermore, they will provide valuable information to promote, develop and participate in intensive knowledge and technology based business incubators. Establishing business links between business clustering, business development and the management of innovation offers a great opportunity for high quality research as business information, product transfer and distribution, business development, and management of innovation ? although closely related ? are traditionally kept apart. The outcomes of the research will contribute to discover underlying patterns within related business ventures and innovations, as well as within similar business environments. Data provided will not only support better management of innovation and business development ventures, but it will also enable new and established entrepreneurs to speed up and improve business decision-making.

Jan Grundling is Head of the Centre for Entrepreneurship at Tshwane University of Technology, South Africa. He has published extensively in Journals and presented various papers ar national and international conferences.

---

Can a Microbusiness Help You Enjoy a Better Retirement?

Not having enough money for a comfortable retirement tops the... Read More

Abstract Business Marketing Strategy for the Entrepreneur

If you look at those Corporations in franchising today you... Read More

Traits of The Successful Entrepreneur

Want to know why certain people succeed and others don't.... Read More

My Nemisis

Living in the twilight zone has its advantages. In the... Read More

A Secret To Extraordinary Accomplishments

I sat watching a documentary on U.S. Navy SEAL Team... Read More

CHINESE TAKE-OUT: Oriental Business Principles Demystified For Online Enterprises

"The expectations of life depend upon diligence; the mechanic that... Read More

Find Me the Expert on This!

Many people who set up as consultants never make more... Read More

Financial Strategies for Transitioning from Salaried to Solo

7 Financial Strategies for Transitioning from Salaried to SoloA 40's... Read More

Entrepreneurs Just Get Better With Age

Q: I'm thinking about starting a business after I retire... Read More

From Bank Clerk to Entreprenuer

What seems like a century ago, I left school and... Read More

Entrepreneurs - 9 Top Mistakes to Avoid

1. Isolating Yourself When setting up a business, you can... Read More

Six Steps to Guarantee Your Business Success

Many of us slave away for years for one uninspiring... Read More

Build Your Own Board Of Experts

The most successful entrepreneurs rely on their advisory boards to... Read More

Franchisor Sample Grand Opening Launch for New Franchised Outlets

It is paramount that all franchising companies work hard in... Read More

How To Get More Clients and Customers; Dont Sell Be of Service

Whether you are just starting your business or focusing on... Read More

Part-Time/In-Home Business - Low Expense and Low Risk

As a first time entrepreneur, there are a variety of... Read More

Bonsai Marketing

Site location analysis of regional service areas and planning for... Read More

Business Startup Checklist

Use this comprehensive checklist to plan each step of your... Read More

Competing With The Big Dogs

You run a small consultancy. You're well qualified, experienced and... Read More

Salon Marketing Using Wireless Broadband Internet Access

Our client in Chicago did, located right outside downtown too...a... Read More

Fear of Failure

Of all the real or perceived impediments to success, the... Read More

Reducing the Stress of Being an Entrepreneur

Starting and running your own business can be exciting and... Read More

Does It Really Take Money To Make Money (Online or Offline)? A Reality-Check of 2 Case Studies

The short and simple answer to this question is NO!Now,... Read More

What It Takes To be An Entrepreneur Series: Action

Many people have the professed desire to be their own... Read More

Great Tips Of Choosing An Office

You have decided to strike it out on your own... Read More

Bring That Difference To Your Business!

Romans had a phrase for this- First among Equals.Online marketing... Read More

Franchises - Success and You

Many people believe owning a franchise will make them rich,... Read More

Business Planning Overview

The successful entrepreneur is generally more inclined, once a business... Read More

Creativity & Entrepreneurship - Key Questions From My Students

Hello Creative Entrepreneurs!Thought for the day:"It is not easy being... Read More

Do You Have What it Takes to be a Successful Entrepreneur?

Print off this page, take the quiz and find out... Read More

What Makes a Person an Entrepreneur?

Entrepreneurship is generally characterized by some type of innovation, a... Read More

An Entrepreneurs Biggest Cost

When launching a new product or company, an entrepreneur must... Read More

The Cockroach Test

Let me ask you a question? Imagine I would offer... Read More