My Background

Education

– 2004-2007 NANYANG TECHNOLOGICAL UNVERSITY Awarded Master of Strategic Studies

– 2002-2004 UNIVERSITY OF WESTERN AUSTRALIA Awarded Master of Management Research with distinctions in all

modules. Candidate for Doctorate of Business Administration on Innovation & Entrepreneurship

– 19981999 NATIONAL UNIVERSITY OF IRELAND Awarded Master of Science (Finance)

– 1982- 1985 NATIONAL UNIVERSITY OF SINGAPORE Awarded Bachelor of Science in Biochemistry, Microbiology &

Economics

Professional

• 2004 - 2007 – Senior Lecturer at SAFTI Military Institute – Conduct seminars on Strategic Studies, Operational Art, Science and Technology,

Leadership Ethics and Command, Control and Communication

• 2000-2003 – Directing Staff of Singapore Command & Staff College– Develop mid-career professionals in Strategy, Leadership Ethics, Organization

Management, Operational Planning, Operational Art, Technology Management, Command Control and Communications, Team Building, Learning Organizations, Public Speaking and Media Management

• 1997-1999 – Head Current Operations at Joint Comms and Info System Department

– Develop and review Armed Forces wide Communication Systems and Policies. Oversee all Armed Forces level contingency planning including emergency operations and United Nation Missions

• 1996 - 1997 – Head Operations, HQ Signals– Oversee the planning, implementation and management of all Command Control Systems

for the entire Army which includes advance switching systems, IT

Strategy as an aligning nexus between Innovation and

Entrepreneurship Biotech Industry at Massschusetts

Aim

The aim of this research is to elucidate an understanding of the relationship between firm performance and strategy, innovation and entrepreneurship among high-technology Small and Medium Enterprises (SMEs) in the biotechnology industry at Massachusetts

Basic Premise

• There is a nexus between strategy, innovation and entrepreneurship and firm performance of SMEs in the biotechnology industry

• There are overlaps in current literature on Innovation and Entrepreneurship

• The aligning nexus is Strategy

Research Questions

• What are the dimensions of Strategy, entrepreneurship and innovation and to what extent do they contribute to the high-tech biotechnology firm performance?

• What evidence is there of a nexus between the entrepreneurial orientation and innovation?

• What evidence is there that the nexus is aligned by Strategy and brings about superior firm performance?

Focus• Firm level• Biotech• SMEs• Innovation - Porter’s study on innovative capacities, Clayton Christensen’s

disruptive innovation, EU Community Innovation Survey as well as several resource-based and new product development approaches

• Entrepreneurial orientation Lumpkin (1998) that identified a set of five distinct dimensions:

– product/service innovativeness, a tendency to support creativity and experimentation in introducing new products/services;

– process innovativeness, a willingness to support novelty and technological research in developing new processes;

– risk taking, a willingness to take bold actions with uncertain outcomes;– proactiveness, a forward-looking perspective involving acting in anticipation of

future demand or change; – competitive aggressiveness, a tendency to be forceful and combative in efforts to

outperform industry rivals.• Strategy

Relevance of Research

• Countries have limited resources and therefore need to maximize the returns on every dollar spent

• How can countries determine an appropriate mix of strategies, innovation factors and capabilities and entrepreneurial knowhow to support the growth of firms in such industries?

Definitional Challenges• Innovation is ‘A process through which economic or social

value is extracted from knowledge through the generation, development, and implementation of ideas to produce new or improved products, processes and services’

(Conference Board of Canada)• “Entrepreneurship, in its narrowest sense, involves capturing

ideas, converting them into products and, or services and then building a venture to take the product to market”

(Johnson, 2001 )• The key elements of entrepreneurship include risk taking,

proactivity and innovation (Miller, 1983)

• ‘Innovation is the specific tool of entrepreneurship by which entrepreneurs exploit change as an opportunity for a different business or service

(Schumpeter, 1934)

• The EU Green Paper defines innovation as ‘the renewal and enlargement of the range of product and services and associated markets, the establishment of new methods of production, supply and distribution and the introduction of changes in management, work organization, and working conditions and skills of the work force’

(EC 1995)

Massachusetts Biotechnology Industry

• 400 biotechnology companies • Of which 235 are developing therapeutic

drugs • $5 billion of in-state payroll • 50 large molecule drugs covering a range

of illnesses • Nearly 1,769 drugs being developed in

Massachusetts, representing over 7 percent of the global drug pipeline

Methodology

• Face-to-face questionnaire survey

• Case Studies to triangulated

• Questionnaire is adapted from entrepreneurial orientation, Community of Innovation Survey (CIS-III) and relevant constructs from the new product development studies

New Product Development

Opportunities

Market ConditionsTechnological Conditions

ExecutionHomework ActivitiesMarketing ActivitiesTechnical ActivitiesProject Organisation

Company Environment

Marketing SynergiesTechnical SynergiesTop Management SupportPerceived RiskCustomer KnowledgeInfluence on Market R&DInfluence on Firm R&D

OutcomeProdAdv

(Cooper & Kleinschmidt 2000)

NPD

Cross –FunctionalIntegration

NPDTeam Proficiency

Customer Orientation

Initiation

Implementation

New Product Performance

Strategic and Organisational Antecedents

NPD Process Factors NPD Outcome

Subin Im et al. (2003)

Proposed Model for Innovation Intensity

Govt Markets SuppliersInstitutionsNational Infra

InnovationOutputs

Innovation Process

Innovation Inputs

FirmPerformance

R&DS&E EmployeesTrainingLicensesFixed Assets

Decision to innovate

CollaborationStrategy/MissionNPD Initiation*NPD Implementation*NPD Cross-Functinal Integration *Customer Orientation *

New ProductsProductivityPatents

Proposed Research Model for Innovation Intensity – Adapted from the CDM(Crepon et al. 1998)

and New Product(Subin Im et al. 2003) Research Model

Entrepreneurial Orientation

Environmental Factors

DynamismMunificenceComplexityIndustry Characteristics

Entrepreneurial Orientation

AutonomyInnovativenessRisk TakingProactivenessCompettive Aggressiveness

Performance

Sales GrowthProfitabilityOverall PerforamnceStakeholder satisfaction

Organisational Factors

SizeStructureStrategyStrategy-making processFirm resourcesCulture

( Lumpkin & Dess, 1996)

Proposed Research ModelAutonomy

Enterpreneurial Orientation

Innovation Outputs

Firm Perfomance

Risk Taking

Proactiveness

Competitive Aggressiveness

Innovativeness

Innovation Inputs

InnovationProcesses

Mkt Share

ROI

% NPD Sales

Figure 5: Research Model (adapted from CIS, NPD, Entrepeneurial Orientation

Product

R&DS&E EmployeesTrainingLicensesFixed Assets

CollaborationStrategy/MissionNPD Initiation*NPD ImplementationNPD Cross-Functinal Integration *Customer Orientation

EO Hypotheses

• Hypothesis 1: The greater the proportion of a firm’s autonomy, the greater that firm’s potential for success.

• Hypothesis 2: The greater the degree of proactiveness of a firm, the greater the firm’s potential for success.

• Hypothesis 3: The greater the degree of risk taking by the firm, the greater its potential for success.

• Hypothesis 4: The greater the degree of competitive aggressiveness of a firm, the greater that firm’s potential for success.

• Hypothesis 5: The greater innovativeness of the firm, the greater the firm’s potential for success.

Innovation Hypotheses• Hypothesis 6: The greater the proportion of a firm’s total

expenditure on R&D, the greater that firm’s performance.• Hypothesis 7: The greater the proportion of Science

and Engineering personnel employed by a firm, the greater that firm’s performance.

• Hypothesis 8: The greater the degree of collaborative intensity between firms, the greater the performance of those collaborating firms.

• Hypothesis 9: The greater the degree of collaborative intensity with universities/research institutions by a firm, the greater that firm’s performance.

• Hypothesis 10: The greater a firm’s customer orientation, the greater its performance.

• Hypothesis 11 The better the firm’s NPD process( initiation and implementation), the greater its performance

Strategy

Vision and Mission

External AnalysisOpportunities and Threats

Internal AnalysisStrengths and Weaknesses

Strategic ChoiceSWOT

Organizational Structure

Designing Control Systems

Business Strategy

Strategy Implementation/Tactics

Feedback

Succession Planning

Strategic Planning

Copyright Biz/ed 2006

Strategy Analysis

Copyright Biz/ed 2006

Types of Strategy

Strategic Culture

Copyright Biz/ed 2006

Data Analysis

• Structural equation modeling (SEM) is the primary method used to estimate the significance and strength of the relationships between the different elements in the model

• Case studies is in line with the ‘pattern matching’ method suggested by (Campbell 1975) and (Yin 1994)

End

Book on the Science and Art of Strategy, Innovation & Entrepreneurship

Art

Science

Coup d’oeil

Asymmetry

Anticipation

Agility

Flexibility

Integration

Leadership

Culture

Sense-Making

Risk taking

Networking

Negotiating

Analysis & Synthesis

Combinational Art

Trend Setting

Sensing

Open Systems

Interactions

Adaptation

PESTEL

SWOT Analysis

Ends, Ways and Means

Strategic Planning Model

Vision, Mission & Objectives

Resources Mgt

Balance Scorecard

Lean

Six Sigma

Technology Mgt

Systems of Systems

Integration

NPD

StrategyEntrepreneurshipInnovation

Science and Art of Innovation, Entrepreneurship and Strategy

Science of Innovation

• Science

• Technology Management

• Systems of Systems

• Integration

• NPD

Art of Innovation

• Analysis and Synthesis

• Combinational Science

• Trend Setting

• Sensing

• Open Systems

• Interactions

• Adaptation

Science of Entrepreneurship

• Resource Management

• Balance Scorecard

• Lean

• Six Sigma

• Efficiency

Art of Entrepreneurship

• Leadership

• Culture

• Sensing

• Risk taking

• Networking

• Negotiating

Science of Strategy

• Vision, Mission and Objectives

• PESTEL

• SWOT Analysis

• Ends, Ways and Means

• Strategic Planning Model

Art of Strategy

• Coup d’oeil

• Asymmetry

• Anticipation

• Agility

• Flexibility

• Integration

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/default.aspx

Art

Science

Coup d’oeil

Asymmetry

Anticipation

Agility

Flexibility

Integration

Leadership

Culture

Sense-Making

Risk taking

Networking

Negotiating

Analysis & Synthesis

Combinational Science

Trend Setting

Sensing

Open Systems

Interactions

Adaptation

PESTEL

SWOT Analysis

Ends, Ways and Means

Strategic Planning Model

Vision, Mission & Objectives

Resources Mgt

Balance Scorecard

Lean

Six Sigma

Technology Mgt

Systems of Systems

Integration

NPD

StrategyEntrepreneurshipInnovation