Using Permissionless Innovation to Advance Business

Businesses must change or they die. There is a natural cycle of innovation, capitalization, and eventual decline that must be managed to ensure new products are hitting the market. Innovation development can be expensive and confined to certain departments and researchers. Opening up innovation as a platform of day-to-day business in bringing good ideas forward.

Permissionless innovation is the idea that people can innovate and develop without seeking prior permission. Companies can set rules, standards and platforms that speed up innovative development ( Chesbrough & Van Alstyne, 2015).

When people feel free to innovate in an environment that encourages ingenuity they may find a wider range of growth. For example, one employee might bring forward an idea that limits trash and another might develop an add on to an existing product that raise its value.

In a permissionless environment management doesn't control all innovation but does create incentives to solve certain high priority problems. The culture and environment is such that ideas flow among members quickly and there is emphasis on practical utility. Over time such cultures begin to flourish through faster market response, more efficient operations and total organization adaptations.

Chesbrough, H. &; Van Alstyne, M. (2015) Permissionless Innovation. Communications of the ACM., 58 (8)

Emergency Plans and Protecting Our Colleges-Shooting at Umpqua Community College

A 20-year old man starts shooting on campus at Umpqua Community College leading to up to 13 deaths and many others injured. The wholesale taking out of one's problems on society seems to be a growing trend. It sparks the need to create better emergency plans and adjusting campus design when new buildings are upgraded or added.

There is no perfect emergency response plan but having one can go a long way in saving lives. It may not stop an action from starting but certainly can limit the damage such actions have by responding quickly to emerging threats.

A solid emergency plan should create quick communication that lets people know where the event is occurring and how to respond. Communication can include cell phones, PA announcements, media interaction, law enforcement, and line of site coordination that keeps an eye on the attacker.

Locking doors and keeping people away from open spaces and windows may help protect people from getting in the line of fire. More importantly a locked door may offer a few moments of respite needed to prepare or evaluate as the attacker finds a way to deal with or around the obstacle.

Ensuring necessary medical equipment and law enforcement staging areas are available for quick set up and  use.  Making it easy for public officials to get in and out of the area to set up their operations is helpful.

Having someone who can remotely connect with university records to identify the attacker can help search out motives, contact information, connect family, and uncover evidence. Coordination of information with law enforcement can speed reaction times.

Arming campus security can help ensure there is someone who can quickly react if needed. There is a balance between protection and not turning schools into military compounds. Sometimes only another armed individual can remove the threat.

Reviewing and updating plans based on emerging threats and trends. Learning from other schools and events helps to keep plans fresh and up-to-date. Sharing those plans with faculty helps when students look for knowledgeable authority figures when chaos occurs.

Redesigning new buildings and considering emergency in existing building design would help create natural barriers that reduce the reach of the gunman's attack. A shrub, half wall, dead bolt, fence,or change in outlay could slow an attacker and save lives.

Drilling and practicing the plan can help faculty lock doors, help students, remove threats, open communication channels and stay calm. Each faculty should have certain actions to take to minimize exposure.

We all hope such incidents don't happen in the future but we can never be too sure. Some people solve their problems through violence and schools must be prepared for this inevitable fact of modern life. Having solid emergency plans in place can make a big difference. Helping people understand those plans and their responsibilities during such situations is helpful in limiting damage.

Paying for College by Industry Backed Income Share Agreements

Your business needs skilled workers to expand and you know that the problem will become even more dire over the next five years. Your options are limited because colleges are not graduating enough people with those particular skills to fill vacant positions thereby raising the labor costs beyond what would be termed reasonable. Industry backed income share agreements  (ISA) to pay for college might be one solution to filling skill gaps while still lowering labor costs.

Milton Friedman discussed the dangers of over reliance on government in education in his 1955 essay The Role of Government in Education. He brought forward the idea that government shouldn't be solely responsible for education and private interests can solve some of their own problems. We see this in decades of ballooning government debt and chronic student loan problems. Problems are getting worse.

That doesn't mean we should simply neglect paying for college or not help college students get a higher degree as an investment in knowledge is also an investment in national interest. However, it does mean the government and employers can come up with better plans, better rates, and more affordable practices. There is room for collaboration of industry stakeholders to resolve long-standing student loan issues.

In those areas of high industry labor demand,the option of either pooling together to create  income sharing agreements or doing so on a business-employee basis is possible. The terms of agreement can be set by the actual student loan investor. It could include working for a U.S. based company or staying at an employer for a specified period of time to pay back the loan.

Interest rates are a big detractor for students who want to go to college. Student loan investments can be backed by company (s) that ensure rates stay low by reducing default risk through backing and hedging. Lower interest rates and high job prospects act as an incentive to students who are seeking a career. This in turn encourages labor market adjustments that create a more efficient economy.

Students who want to go into high demand areas could find themselves with lower interest rates and potential jobs upon graduation if industry steps up and offers its own version of a student loan program. The specific details would be in flux as stakeholders debate possibilities. Generally, industry stakeholders can create the terms and invest monies to ensure they are creating qualified individuals.

 It is possible that lower default rates based on needed skills and higher pay, job placement, lower interest rates, faster filling of chronically open positions, lessening of government debt, industry influence on colleges, and reduction of long-term labor costs are some of the benefits of a industry backed share agreements. Offering industry alternatives to college financing may put additional pressure on colleges to focus on programs that can be appropriately funded and have higher employment prospects upon graduation.

Supporting Neighborhoods Through Small Business

Neighborhood nuggets sometimes become uncovered when you take the time to explore your neighborhood. As an avid biker who pedals my way to coffee shops, grocery store, and completing general errands I often find myself surprised by the hidden gems in the nooks and crannies of my neighborhood.

The perspective from a bike is very different from the vantage point of a car. You can see so many more things and take your time on small things.

I found a small fruit market that matched the price of one of my favorite stores I typically have to drive to after work. No driving, no out of the way effort, or wasted time. It was right there under my nose!

The store is owned by an ethnic immigrant family in a hidden location someone would not suspect to find a niche outlet. A small sign on the main street and a small parking lot behind the building. You would hardly know its there unless you were introduced to it or happened to look in that direction.

Such hidden nuggets are what makes a neighborhood stronger. People who can buy their basic items within a mile or so of their house might soon become familiar with other people if they frequent these businesses on a regular basis.

The advent of the car and supermarket destroyed local stores and business. However, the strongest and most sustainable neighborhoods have the right kind of small businesses dotting their landscape. They are eclectic with small town charm.

Coffee shops, clothing, grocery, cafes, bars, mechanic, movies, and recreational business attract locals and create a sense of community by the people who go there regularly. No need to drive when you can walk of bike just down the street.

Urban planning should consider the aesthetic and strategically placed small business to support neighborhoods, improve housing values, create a sense of community, and reduce crime. That means helping a neighborhood to form a sense of identity by creating social landmarks.

Developing Intellectual Capital for Economic Growth

Intellectual capital is an investment in the future as knowledge that pays dividends across a wide range of economic activities. Intellectual capital is the knowledge of people within an organization or society and provides those entities with competitive value. Nations and businesses improve their competitive positions by foster knowledge workers that can create value generating products and services on the market.

Intellectual capital is an asset capable of yielding profits, a competitive resource, a process and knowledge, and a level of skill (Vlasenko & Vasylenko, 2015). Intellectual capital is based in those skill sets that have the highest values on the international market and therefore can create the most lucrative products. Companies that have more highly knowledgeable employees are generally more successful that those who don't.

The value is dependent on the competitive position and market segmentation the entity seeks to maintain a presence in. The right skills will either need to be fostered from either training, education, or borrowing. Each choice has a cost both at the individual company level and at the national level. Where and how each nation seeks to invest determines it long-term competitiveness.

Companies can provide better training for those skills that have the most benefit. They do have the ability to put people through rigorous programs specific to their company. As a nation we can choose to fix our student loan and access problems to foster more intellectual capital in specific industries. Of course we may also choose to either outsource or provide visas to highly skilled individuals.

I am an advocate of creating home grown intellectual capital and offering visas and eventual citizenship to those who fill the gaps in our own skill sets. This requires government to be a partner with industry, understand industry, and further international economic development. Preparing America for a higher level of performance rests on our ability to get the right people in the right places.That means encouraging people to learn and train on relevant jobs that expand the economic engines.

Vlasenko, T. & Vasylenko, Y. (2015). Theoretical and methodological aspects of defining the intellectual capital. Problems of Economy, 1.

The Similarities and Differences Between Online and Offline Professors

Online education is growing and so is the need for full-time online faculty. For those who have become accustomed to traditional educational models and the historical buildings on campus they should expect a few differences before migrating to a full-time online position. Even though online teaching is rewarding it isn't for everyone due to the differences in the nature of work.

Some simply won't be able to work for long periods of time remotely and miss going onto campus everyday. Cultural shock is one of the reasons why hopeful professors seek to transfer back to campus based systems. However, some enjoy the experience and freedom to work from home that online teaching offers.

The type of work such as teaching, research, committees, publishing, and mentoring stay the same. Differences often include:

Interaction with Students: Interaction with students will be different. Even though there is email, phone, text and many other methods the overall process is remote. This is very different than meeting your students face-to-face every day. The interaction can be just as rewarding but takes on a different form.

24/7 Schedule: Where the traditional professor has a specific class schedule and office hours the online professor is engaged throughout the day and week. He/she may not need to be connected all the time and has flexibility to work at various times they generally check in often.

Interacting With Colleagues: Professors at traditional universities interact throughout the day and many times in face-to-face sessions. Online professors also interact but do so via virtual format. They do meet each other during conferences, special meetings and events.

Pre-Designed Courses: Depending on where someone works most course are going to be pre-designed in the online world. Online professors can implement and change curriculum but not to the same extent as a traditional university. The reason being that the online format requires programming and basic shells are applied.

Marrying Business Schools and Industry for Relevant Curriculum

Business schools prepare students for business-that is what they are known for! They move through the basic business principles, theories, and skill sets needed to succeed in a highly complex world of international commerce. The curriculum is based in the needs of the business community and the general needs of society. The closer the curriculum is tied to actual business requirements, the higher the relevance of the school.

It should be noted that there is a difference between the brand of a school and the quality of its education. In many cases, brands do recognize quality but are not exactly the same thing. The best schools continue to look at, connect with, and research industry needs to develop appropriate skill sets.

Sometimes this knowledge comes through  looking at larger industry reports, reviewing previous studies, and other impartial public information. The other option is to conduct surveys and research that asks industry leaders what they are looking for. Let the market lead the school!

I am advocate of generating research by connecting with industry. It does two important things. First it turns a university from a knowledge user to a knowledge generator, and secondly it advertises the university to potential employers. No harm in offering stronger collaboration when the free results are sent and published.

The more business schools can connect with industry needs the better they can prepare students to take leading jobs. The education offered by the school becomes relevant and continuously updates each time a program and/or course goes through a developmental cycle. Universities that are focused on their end users will find themselves as praised gatekeepers to higher knowledge and higher paying jobs.