societal impact, wealth creation (for themselves, their employees and often customers), and yes employment. Only by considering all those dimensions together can high-impact entrepreneurial ventures develop their full potential.
and have created significant wealth for owners, employees, and in many cases customers. But they, most importantly, also have made a real difference to society through the power of their innovation
using the criteria of entrepreneurial spirit, innovation, personal integrity, financial performance, future plans and strategic direction, employee retention and employment practices, market impact, community impact
and employment as an outwardly comparable measure to comprise 20%or greater annual growth in revenue and 20%or greater annual growth in employment over a three-year time period for enterprises with 10 employees or more.
or hire new employees. Unfortunately, when policy makers talk about"entrepreneurs, "the small business owners who don't want to grow are grouped often together with the rare founders who scale companies.
a narrow focus on early-stage companies would be misguided. 0 200 400 600 800 1000 1200 Median headcount COMPANY AGE RANGE Number of employees Net change in number of employees,
and ambition of their enterprises that allow others to share in this wealth creation early employees in technology firms being a good example,
Gopro has built rapidly out its infrastructure, increasing headcount from 135 employees to more than 400 within the last year.
Ulukaya hired a team of four former Kraft employees to help bring the plant back to life.
It is also worth noting that more than 75%of US firms have less than 20 employees so within the first few years of their life span,
leading to potential distractions if their interests are aligned not fully with those of the founder (or, more frequently, other key employees).
hiring a consultant from a prominent franchising firm. The consultant helped Doggis standardize operations and build a franchising model.
By 2005, with 100 restaurants, Doggis had become the biggest franchise chain in Chile. In recent years, Oscar and Ricardo began pursuing a portfolio strategy.
but its approach to employees and the community in general. In the very first year, I realized how much of an impact this plant had on the local community,
The Oregon-based company has more than 44,000 employees worldwide, with reported revenue of US$24. 1 billion in FY12, making it the planet's largest sports brand.
as they inherently penalize against a high employee or revenue base with a total of 7,
and employees (yet might already create wealth for its customers) but when the firm is maturing,
Absolute and marginal two-year job creation by Eoy contestants by industry group As an example, the median Frontier company started with 98 employees two years ago
Sales and Employees were amongst the top descriptive words from this elite class of entrepreneurs. market employees technology production customers people management financial family mobile strategy innovation
I LOVE NEW YORK. Prior to that she was Director of Business Planning at Louis vuitton, Vice president at Pearson and Senior Consultant at William Kent International (WKI).
and business consultant. He earned his undergraduate and masters degrees from Penn State university USA and his Ph d. from the University of Connecticut, USA.
Rottenberg is considered one of the world's most dynamic experts on entrepreneurship and emerging markets
She currently serves as an adviser to Abraaj Capital, a leading private equity investor in global growth markets.
Morris worked as a consultant at Bain & Company. There, he was engaged on a variety of projects focused on international growth strategy development, customer segmentation and acquisition,
Jeremy began his career with the strategy consultants Mckinsey and Company. He was educated at Harvard university
To participate, firms must have 10 or more employees or more and exhibit a strong growth trajectory as measured by market share and profits.
Within the report, we utilized the OECD's definition of highimpact for entrepreneurs who exhibit 20%or greater annual growth in employment and 20%or greater annual growth in sales over three years for entrepreneurs with 10 employees
in addition to 1, 132 survey respondents and numerous global and European experts from academia and civil society.
or join a market innovator start-up or SME as an employee Start up Assessing the success factors for an entrepreneur in establishing an innovative organization and making it a viable venture,
and number of employees, in particular identifying and realizing win-win opportunities for collaboration between market leaders and market disruptors Employment (2014e relative to 2008 level) Valueadded (2014e relative to 2008 level) 0. 9 1
advisers and enablers who transfer know-how and create opportunities for growth. Figure 4: A Life cycle Model for Entrepreneurship6 Source:
and only 41%perceived them as somewhat or very favourable (see Figure 7). These results are more positive than many experts engaged in the project expected.
or the willingness and ability to take the risk of joining an innovative start-up as an employee. 12 Figure 10 details a conceptual model for the factors influencing
%Concern about financial benefits is greater among respondents potentially joining an entrepreneurial venture as an employee (37%)than those starting their own venture (29%.
Employees of the Finnish start-up Rovio had developed 51 programmes, none of which was a commercial success. After going through this, their 52nd programme, Angry Birds,
with a clear majority in the European union (EU) now favouring work as an employee. Another is the prevailing attitude towards entrepreneurs
%since 2007 The EU is home to 19.0 million micro companies (those with less than 10 employees),
Many European venture capital experts say the sector is stronger than the long-term data indicate. Today
Martin Vollmer, Chief Technology Officer, Clariant Developing culture and organization Promoting an R&d setup with specific organizational structures integrating employees, partners and customers Barclays Open Innovation:
A team of 15 ABB employees collaborated with Fastned to develop the concept. DSM/Provexis:
Could you estimate what proportion of SME employees in your country are working in innovation-driven SMES?
Enterprise Estonia has established a network of salaried professional export advisers residing in major target markets,
The growth outlook and ambitiousness of enterprises is expressed by entrepreneurs'expectations concerning the increase in employee numbers as well as their ambitions on the international market.
expectations of early-stage enterprises concerning a fast increase in employee numbers (i e. more than 10 employees in five years and over 50%of growth) are lower,
remaining lower when compared with the respective indicators in Latvia and Lithuania. Key activities on an agenda to foster innovation-driven entrepreneurship in Europe:
they might encourage a corporate culture with spin outs and employee circulation; and they might view being located in a strong and innovative entrepreneurial ecosystem as a long-term value.
the importance of this issue decreases while the relevance of other difficulties increases, including severe competition, availability of skilled employees and managers,
Partner to encourage active engagement in start-ups as employees and as founders. Individual attitudes and skills can be influenced effectively by direct experience in a start-up environment, for example through internship programmes or employment opportunities.
These experiences build on school-based programmes and often lead to employees founding their own businesses.
and direct it towards venture markets Supporting entrepreneurs to access skilled employees to join their ventures Providing mentoring to new founders Providing more opportunities for potential entrepreneurs to obtain practical experience in an innovative business
Global Shapers Hub, Lisbon We should create a board of mentors and advisers for young European changemakers.
please email europeentrepreneurship@weforum. org. 56 Enhancing Europe's Competitiveness Endnotes 1. The entrepreneurial life cycle is defined here as including the factors influencing an individual to turn an idea into economic activity or join a start-up as an employee,
Papers, No. 9 Fostering Innovation-driven Entrepreneurship in Europe 59 Acknowledgements Adviser and Knowledge Partner:
Young Global Leader Luis Alvarez Satorre, Chief executive officer, Global Services, BT, United kingdom Tobias Schmidtke, Senior Consultant, A t. Kearney, Germany Bohuslav Sobotka
Co-Director, Centre on China Innovation, China Europe International Business school (CEIBS), People's republic of china Krisztina Z Holly, Adviser, National Advisory Council for Innovation and Entrepreneurship
, USA Daniel Isenberg, Professor of Entrepreneurship Practice, Babson Executive Education, Babson college, USA Guriqbal Singh Jaiya, Director-Adviser, Innovation and Technology Sector, World
Intellectual Property Organization (WIPO), Geneva Eric Kacou, Cofounder, Entrepreneurial Solutions Partners (ESPARTNERS), USA Harkesh Kumar Mittal, Adviser and Head, National Science
Also, a group of informal advisers provided comments to help us structure the work appropriately.
and academic and other experts to focus on competitiveness at the city level; and, to encourage a rich global dialogue on this issue
Santiago is implementing a complete streets programme that brings in urban planning experts to oversee new design concepts
with its new modern university, hold conferences on major issues of the day, with experts in science, math and letters.
and experts in diabetes the third, and so on. Intellectual stimulation could be added to spiritual activities. Medina could recapture an intellectual leadership role,
However, generous city employee benefits and pensions continued, and have increased Detroit's legacy costs to a total of $3. 5 billion in unfunded pension liabilities and $5. 7 billion in unfunded retiree healthcare liabilities.
using the same players (methods, consultants, initiatives, among others), but only some of the approaches succeed.
the perception of corruption (80%of the population believes that more than half of the public employees are corrupt;
500 foreign experts working in Ningbo, which has become one of the most preferred cities in China for overseas talent, entrepreneurship and innovation.
Azua, President and Chief executive officer, Enovatinglab, Spain Catalina Crane, High Presidential Adviser for Public and Private Affairs, Office of the President of Colombia, Colombia Mohamed El Dahshan
, Regional Economist, African Development Bank, Côte d'ivoire Janamitra Devan, Independent Adviser, Strategy and Leadership, USA Gao Changlin
Murphy is co-author of the World bank guide Clusters for Competitiveness, an adviser to competitiveness initiatives in 15 countries,
He is a Member of the Global Agenda Council on Competitiveness. 5. This case study was written by Jose Antonio Torre Medina, Rogelio Cortes and Marcia Campos, Adviser for Government and Public Policy and Professor
The three case studies from Malaysia, Philippines and Republic of korea (Penang, Cebu and Busan, respectively) were written by Janamitra Devan, Independent Adviser, Strategy and Leadership, USA.
Albania Institute for Contemporary Studies (ISB) Artan Hoxha, President Elira Jorgoni, Senior Expert Endrit Kapaj, Expert Algeria Centre de Recherche en
Director Gerhard Schwarz, Coordinator, Survey Department Azerbaijan Azerbaijan Marketing Society Fuad Aliyev, Deputy Chairman Ashraf Hajiyev, Consultant Bahrain Bahrain Economic
& Investment Randall Krantz, Strategy Adviser Bosnia and herzegovina MIT Center, School of economics and Business in Sarajevo, University of Sarajevo Zlatko Lagumdzija, Professor Zeljko Sain, Executive director Jasmina
Selimovic, Assistant Director Botswana Botswana National Productivity Centre Letsogile Batsetswe, Research Consultant and Statistician Baeti Molake, Executive director Phumzile Thobokwe, Manager, Information
Bulgaria Center for Economic Development Adriana Daganova, Expert, International Programmes and Projects Anelia Damianova, Senior Expert Burkina faso lnstitut Supérieure des Sciences de
National Competitiveness Council Jadranka Gable, Advisor Kresimir Jurlin, Research Fellow Cyprus European University Cyprus, Research center Maria Markidou-Georgiadou, Consultant Bambos
General manager Tegenge Teka, Senior Expert Finland ETLA The Research Institute of the Finnish Economy Markku Kotilainen, Research director Petri Rouvinen, Research director Vesa Vihriälä, Managing director
PDR Enterprise & Development Consultants Co.,Ltd Latvia Stockholm School of economics in Riga Arnis Sauka, Head of the Centre for Sustainable Development Lebanon Bader Young Entrepreneurs
Associate Nepal Centre for Economic Development and Administration (CEDA) Ramesh Chandra Chitrakar, Professor, Country Coordinator and Project Director Ram Chandra Dhakal, Executive director and Adviser
Consultant Maria Elena Baraybar, Project Assistant Luis Tenorio, Executive director Philippines Makati Business Club (MBC) Isabel A. Lopa, Deputy Executive director Michael B
Hassen, Executive Counsellor Turkey TUSIAD Sabanci University Competitiveness Forum Izak Atiyas, Director Ozan Bakis, Project Consultant Sezen Ugurlu, Project Specialist
Catalina Crane, High Presidential Adviser for Public and Private Affairs, Office of the President of Colombia, Colombia;
Janamitra Devan, Independent Adviser, Strategy and Leadership, USA; Gao Changlin, Deputy Director-General, Exchange, Development and Service Center for Science and Technology (STTC), People's republic of china;
Efficient labor markets must also ensure clear strong incentives for employees and efforts to promote meritocracy at the workplace,
This two-year process will gather insights from high-level experts in academia along with practitioners and business leaders to identify the improvements needed to capture the evolving nature of the drivers of competitiveness.
The labor market balances employee protection with flexibility and the country's business needs (1st. Public institutions are among the most effective and transparent in the world (7th),
or employees'skills development strategies. If businesses could be engaged in this way, the positive spill over effects of their investments could result in higher societal gains.
Since 2010, the World Economic Forum in collaboration with a multi-stakeholder Advisory board of international experts (Box1) has embarked on an effort to integrate the concept of sustainability into its competitiveness work.
the Forum has continued to work closely with experts at Yale's Center for Environmental law and Policy (YCELP), with the Center for International Earth science Information Network (CIESIN) at Columbia University's Earth Institute,
and are based on best practices in the field of survey administration and on discussions with survey experts.
An initial external audit by a team of survey experts from Gallup was performed in 2008.
Indeed, small enterprises, defined here as those with fewer than 50 employees, account for 27 percent of the sample in Advanced Economies and Emerging and Developing Asia and for 48 percent in Sub-saharan africa,
Company size by number of employees 1c: Revenues generated by exports 1b: Company ownership 1d:
We also conduct interviews of local experts and consider the latest developments in a country
In your country, to what extent do companies invest in training and employee development? 1=not at all; 7=to a great extent.
as well as France. 2 Company size is defined as the number of employees of the firm in the country of the Survey respondent.
2. 6 5. 08 Extent of staff training In your country, to what extent do companies invest in training and employee development?
and employee stock options. For Australia, Belgium, Canada, Hong kong SAR, Iceland, New zealand, and Sweden, government debt coverage also includes insurance technical reserves,
World Economic Forum, Executive Opinion Survey 5. 08 Extent of staff training In your country, to what extent do companies invest in training and employee development?
He is a consultant on growth and competitiveness for a number of countries, international institutions, and corporations.
and academic organizations'experts who contributed outstanding chapters. We also wish to thank the editors of the Report Soumitra Dutta at the Samuel Curtis Johnson Graduate school of Management at Cornell University, Bruno Lanvin at INSEAD,
after two years of research and consultations with ICT practitioners, policy and industry experts, and academia, the Networked Readiness Index (NRI) introduced a new subindex on ICT impacts that aimed at holistically assessing the way that countries go about leveraging ICTS
which management and employees are more capable of identifying and developing business innovations. As we did last year
employee productivity (improved labor efficiency), supply chain logistics (eliminating waste and improving process efficiency), customer experience (adding more customers),
while potentially training employees to take on these tasks themselves. CONCLUSION We currently see big data as poised to have significant impact in public
then the patterns of normal operations are also visible to many employees, even though the content of the operations (the content of The Global Information technology Report 2014 57 Chapter 1. 4:
Misbehavior by employees, industrial espionage, and cyberattack are among the greatest dangers that companies face in the big data era.
and the constantly additive benefits of all data allows experts to be able to explore data to find their value.
Some experts argue that it is better to adopt a light-touch approach in a technologically dynamic world because detailed,
Such questions can spur the functional experts themselves to start asking the more fundamental questions that can unlock the value of data.
Big data initiatives require multidisciplinary teams of business and technology experts. Every team member business analyst, programmer, data scientist,
or cannot be acquired by cross-training existing employees. Hire people with related skills if the needed skills are unavailable within your organization
A US-based provider of business outsourcing solutions has set up an innovation lab where subject experts from different industries
A US-based multinational consumer goods company has developed a decision-support environment used by more than 60,000 employees worldwide to see what is happening in the business
2. 5 7. 06 Extent of staff training*In your country, to what extent do companies invest in training and employee development?
World Economic Forum, Executive Opinion Survey, 2012 and 2013 editions 7. 06 Extent of staff training*In your country, to what extent do companies invest in training and employee development?
and learning programs for Mckinsey's consultants globally. Mr Beardsley was a Henry S. Dupont III Scholar (highest honors) for outstanding academic performance at the MIT Sloan School of management,
he was a consultant and lawyer with more than 15 years of experience in the telecommunications sector.
Sergio Sandoval Sergio Sandoval is a Senior Expert in Mckinsey & Company's Brussels Office.
Malin Strandell-Jansson Malin Strandell-Jansson is a Knowledge Expert in Mckinsey & Company's Stockholm Office, specializing in telecommunications regulation.
Albania Institute for Contemporary Studies (ISB) Artan Hoxha, President Elira Jorgoni, Senior Expert Endrit Kapaj, Expert Algeria Centre de Recherche en
Director Gerhard Schwarz, Coordinator, Survey Department Azerbaijan Azerbaijan Marketing Society Fuad Aliyev, Deputy Chairman Ashraf Hajiyev, Consultant Bahrain Bahrain Economic
Bhutan Bhutan Chamber of commerce & Industry Sherab Lhamo, Research Officer Phub Tshering, Secretary general Druk Holding & Investment Randall Krantz, Strategy Adviser Bosnia and herzegovina MIT
Centre Letsogile Batsetswe, Research Consultant and Statistician Baeti Molake, Executive director Phumzile Thobokwe, Manager, Information and Research Services Department Brazil Fundação Dom Cabral, Innovation Center Carlos Arruda, Associate dean for Business Partnership, Professor
Expert, International Programmes and Projects Anelia Damianova, Senior Expert Burkina faso lnstitut Supérieure des Sciences de la Population (ISSP), University of Ouagadougou Baya
Director Estonian Development Fund Tõnis Arro, Chief executive officer Ethiopia African Institute of Management, Development and Governance Zebenay Kifle, General manager Tegenge Teka, Senior Expert
Meruyert Shabakbayeva, Expert Analyst Vladislav Yezhov, Chairman Kenya Institute for Development Studies, University of Nairobi Paul Kamau, Senior Research Fellow Dorothy Mccormick
Program Coordinator Marat Tazabekov, Chairman Lao PDR Enterprise & Development Consultants Co.,Ltd Latvia Stockholm School of economics in Riga Karlis Kreslins, EMBA Programme
Executive director Nepal Centre for Economic Development and Administration (CEDA) Ramesh Chandra Chitrakar, Professor, Country Coordinator and Project Director Ram Chandra Dhakal, Executive director and Adviser
Research Foundation Salem Ben Nasser Al-Ismaily, Chairman Public Authority for Investment Promotion and Export Development (PAIPED) Mehdi Ali Juma, Expert for Economic
Director Ozan Bakis, Project Consultant Sezen Ugurlu, Project Specialist Uganda Kabano Research and development Centre Robert Apunyo, Program Manager Delius Asiimwe, Executive director
the Report brings together a range of leading academics, experts, and industry leaders. The full Report can be downloaded at www. weforum. org/gitr
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