Strategic Pillars of Knowledge-Based Economic...

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International Conference on Higher Education and Economic Development 3-5 September 2012 Le Meridien, Point aux Pimentux Strategic Pillars of Knowledge-Based Economic Development: Tertiary Education, Entrepreneurship and Innovation in Applications of ICT Dale E. Smith Associate Professor

Transcript of Strategic Pillars of Knowledge-Based Economic...

Page 1: Strategic Pillars of Knowledge-Based Economic Developmenttec.intnet.mu/pdf_downloads/confpaper/confpaper091231.pdf · International Conference on Higher Education and Economic Development.

International Conference on Higher Education and Economic Development3-5 September 2012Le Meridien, Point aux Pimentux

Strategic Pillars of Knowledge-Based Economic Development:Tertiary Education, Entrepreneurship and Innovation in Applications of ICT

Dale E. SmithAssociate Professor

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Thesis

that expose important

interrelationships

Innovationin

Applications ofICT

Fosteringa

Culture ofEntrepreneurship

KnowledgeBased

EconomicDevelopment

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This paper proposes that tertiary educational institutions (TEIs):

• must take an active role in fostering a culture of entrepreneurship

and

• must stimulate innovation in applications of information & communication technology (ICT)

if the aims of knowledge economy policymakers are to be purposefully achieved.

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Thesis Schematic

TertiaryEducationalInstitutions

Innovationin

Applications ofICT

Fosteringa

Culture ofEntrepreneurship

KnowledgeBased

EconomicDevelopment

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Key Question [1]

Innovationin

Applications ofICT

Fosteringa

Culture ofEntrepreneurship

KnowledgeBased

EconomicDevelopment

4

What persona replaces “manager” in symbolic representation of a post-industrial era education ideally suited to the needs and demands of a knowledge-based, technology-driven economy?

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The Symbolic Analyst

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Symbolic analyst will be someone who is a problem identifier, a problem solver, or an innovator who can visualize new uses of existing technologies. This class of workers includes scientists, engineers, and other scientific or technical specialties as well as marketers, investors, some types of lawyers, developers and a wide variety of consultants.

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Key Question [2]

Innovationin

Applications ofICT

Fosteringa

Culture ofEntrepreneurship

KnowledgeBased

EconomicDevelopment

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Does entrepreneurship (however defined) correlate with economic performance?

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Entrepreneurship and

National Income

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Source: Wennekers et al. (2005)

Nascententrepreneurship

versus percapita income, the U-

curve.

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Entrepreneurship and

Economic Development

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Source: Global Entrepreneurship and the United States (2010)

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Key Question [3]

Innovationin

Applications ofICT

Fosteringa

Culture ofEntrepreneurship

KnowledgeBased

EconomicDevelopment

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What reforms in the role and focus of tertiary education are required to produce this “entrepreneur” persona while accommodating more generally the strategic imperatives and operating principles of a knowledge-based economy?

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Entrepreneurship Education

and Regional Development

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Source: Universities’ Entrepreneurship Education and Regional Development: a Stakeholders’ Approach (2010)

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Creating the Entrepreneurial

Ecosystem

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Source: Educating the Next Wave of Entrepreneurs: A Report of the Global Education Initiative (2009)

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Recommendations [1]

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Source: Educating the Next Wave of Entrepreneurs: A Report of the Global Education Initiative (2009)

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Recommendations [2]

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Source: Educating the Next Wave of Entrepreneurs: A Report of the Global Education Initiative (2009)

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Recommendations [3]

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Source: Educating the Next Wave of Entrepreneurs: A Report of the Global Education Initiative (2009)

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Key Question [4]

Innovationin

Applications ofICT

Fosteringa

Culture ofEntrepreneurship

KnowledgeBased

EconomicDevelopment

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How to bring together all the moving parts of a knowledge-based economic development strategy that leverages tertiary educational institutions to foster a culture of entrepreneurship while stimulating innovation in applications of ICT?

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Knowledge-Based

Development Strategies

Framework

Innovationin

Applications ofICT

Fosteringa

Culture ofEntrepreneurship

KnowledgeBased

EconomicDevelopment

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Corporate Development

Product Development

Market Development

InvestmentOpportunity

MarketOpportunity

ProductOpportunity

EVAGrowth

IncreasingReturns

SynchronizationValue

Institutional Innovation

Organizational Innovation

Structural Innovation

Economic DevelopmentTradeOpportunity

TFPGrowth

Technological Innovation

Research & DevelopmentKnowledgeOpportunity

IntellectualCapital

Knowledge-Based Economic Development

Strategic Knowledge Priorities

Entrepreneurial

Culture

Economic

Value

Public Policy

Governance Structures

Transaction Architectures

Factor Flows

Tacit Learning

Page 18: Strategic Pillars of Knowledge-Based Economic Developmenttec.intnet.mu/pdf_downloads/confpaper/confpaper091231.pdf · International Conference on Higher Education and Economic Development.

International Conference on Higher Education and Economic Development3-5 September 2012Le Meridien, Point aux Pimentux

Questions?

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