When I heard the news that GE is considering breaking itself up into smaller units, I was overcome with sadness. I started my career at IBM in the early 1980s and saw that company brought low, and now a similar scenario is playing out with another venerable firm.
But wait a second, as a professor of entrepreneurship, don’t I want to see a big conglomerate broken up into smaller, more nimble companies that can be more entrepreneurial?
Not in this case. That kind of thinking illustrates a fundamental mistake people make when they contemplate entrepreneurship and existing corporations.
As an entrepreneurship educator, I teach students the mind-set and skills to help them succeed in bringing new, innovative products to market and new ventures into being. But there is a common misunderstanding that entrepreneurship equals startups and that we are preparing our students to join the Silicon Valley depicted on TV dramas. Not so.
Today, when I want to buy audiobooks, gardening tools or a Spike Lee Brooklyn bicycle cap, I shop through Amazon and know it will all be delivered, courtesy of Amazon Prime, to my front door in Boston in two days. I have come to depend on Amazon’s recommendations and customer feedback to guide my purchases. I now have an Amazon TV system and have installed Alexa systems at both home and at work. My publisher directs me to the Amazon author section to see how many copies of my book have been sold each week, and in what regions. And when I relax at the end of the day, I read the Washington Post on my iPad, which is free with Amazon Prime. And it all started with books.
The holiday period is a great time for reflection and then behavior modification – often referred to as resolutions. While a bit artificial to the logical engineer, this opportunity can be helpful. This year, my favorite insight came from a former student and employee, Elliot Cohen, co-founder of PillPack.
While thinking about the major aspirational goals for the upcoming year that motivate me to get out of bed every morning with high energy and purpose – such as getting my second book out in March, significantly raising the endowment of the Martin Trust Center for MIT Entrepreneurship, developing the concept of “Inclusive Entrepreneurship” to battle the deep societal alienation we have seen in 2016, and, of course, just becoming a better entrepreneurship educator to my students – there is one underlying enabling resolution that can help me achieve all of them more efficiently and effectively.
Tax breaks? Infrastructure spending? Free college? These are some of the ideas the presidential candidates have for boosting growth and creating jobs. But the best way to do it may be one neither candidate has highlighted: bringing more immigrants to the United States. In a Q & A with Rick Newman, Bill Aulet discusses this issue and many others.
In the fall of 1977, the aspiring Harvard varsity basketball players used to play pickup games every afternoon. All of us were vying for the limited spots on the team. The competition was fierce. I remember one not particularly athletic guy, less of a thoroughbred and more of workhorse, a Clydesdale. I did not see him making the team, but Charlie Baker surprised us. He not only made the team, but turned out to be a terrific teammate.
Governor Baker’s challenges now are much bigger and more significant, but the same attributes he showed back then — a hard worker who knows his limits, a guy who doesn’t take himself too seriously, but is still comfortable being an enforcer when needed — have never left him. Read More »