US lawmakers rap corporates for preferring China over India
American corporate giants faced a tough time on the Capitol Hill as lawmakers grilled them as to why they were opting to do business with communist China over a democratic India.
Irish out to make their mark at Shanghai Expo and across China
Since May 1st, the Shanghai Expo has attracted more than 15 million visitors, writesJOHN COLLINSin Shanghai, China
Ray Nolan, one of Ireland’s most successful Irish entrepreneurs, spoke at an IIEA event recently on the challenges facing indigenous Irish companies. It’s well worth a watch. Ray will also be speaking at the upcoming Dublin Web Summit. Credit to the IIEA for putting on another great event, be sure to subscribe to their YouTube channel where they have a series of talks from a variety of interesting speakers available.
Yesterday saw the launch of an interesting new campaign ‘Your Country, Your Call‘, which is described as a competition to find and reward two transformational proposals that will help secure prosperity and jobs for Ireland. The organisers are offering a cash prize of €100,000 each to two winning ideas, which will then be implemented with the support of an independent working group and with a development fund of up to €500,000 for each project.
In my mind the critics overlook the role of competition in innovation. While Newton drew his inspiration from an apple falling on his head, the majority of inventions have come about as a result of competitions. Just look at the X Prize as an example.
I was once given a guided tour of the Smithsonian Air & Space Museum in Washington DC. After showing me a number of the exhibits, the guy bringing me around the museum (not associated with the Smithsonian) pointed out how many of the great inventions in air and space flight took place when there was a race between rivals. It’s no surprise so that a lot of leaps are taken during periods of conflict.
This isn’t to say that ‘Your Country, Your Call‘ is going to lead Ireland out of its economic doldrums, but it is a positive initiative aimed at incentivising our brightest talents to deliver proposals to help us become an island of innovation and providing the funds to match this ambition.
One of the key highlights from the Trust Barometer over the past few years for me is how stockmarket performance is matched to trust in the business world. We’re currently at rock bottom and in order to get the economy moving again, we have to inspire confidence in businesspeople and investors to start spending again. ‘Your Country, Your Call‘ and the Ideas Campaign are initiatives which can help to get people start thinking positively again and if the resulting proposals can be delivered on, can assist in rebuilding the economy.
There’s no quick wins, but as President Mary McAleese pointed out in her speech, “We have within us the capacity to change things for the better by mobilising our individual and collective ‘can-do’ spirit.”
Here’s a video about the campaign:
While we can be quick to question what difference one person or one idea can make. I’d argue that we live in a world where a radical idea can spread rapidly thanks to the power of the Internet – just look at what YouTube has achieved in five short years. Furthermore, we shouldn’t overlook the role of an individual – here’s a great feature from a few year’s back on what individual soccer talents like Ronaldinho can teach us about innovation. Here’s some key excerpts:
The difference between win and loss is still marked by the quality of individuals — players, coaches, and, not to forget, referees.
Players and coaches are chased with tons of cash not merely because they are stars who are able to turn the game into a spectacle and thus add invaluable charisma and entertainment to a club’s brand, but also because their individual decisions, be they strategic (coach) or opportunistic (player), decide over fortune and misfortune. Both coach and player are risk-taking entrepreneurs, and the more creativity they exhibit, the more freedom they’re typically given. Ironically, buying risk-takers is a measure for clubs to minimize risk and manage the inherent volatility of their success.
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Ultimately, the most visible and arguably most impactful innovation lies in the feet of the players. Notwithstanding the team’s culture, strategic formation, and tactical fitness, innovation on a micro-level is still the biggest competitive advantage.
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Admire the poetic and sometimes melancholic Total Football of Barca, and respect the prosaic, rather efficient style of Real Madrid. And watch how a few players will decide the game. Soccer can be researched, carefully planned, and strategically devised — however, the most beautiful thing about this “beautiful game” is the fact that there is no lag between idea and implementation. Creativity can be immediately applied and has to be found on the pitch again and again. Every match is a blank slate. There is no history, only anticipation. Nothing is ever the same. This is what business leaders can learn from soccer: Innovation is, literally, a “play,” and the best players will win.
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