Strategic Pillars of Knowledge-Based Economic...
Transcript of Strategic Pillars of Knowledge-Based Economic...
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
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interrelationships
Innovationin
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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
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Key Question [1]
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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]
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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
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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]
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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
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Fosteringa
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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
International Conference on Higher Education and Economic Development3-5 September 2012Le Meridien, Point aux Pimentux
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