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In this phase, we recommend you go over the entrepreneurial process, assess your concerns, review your skills and acquire any that you lack.

Entrepreneurs: You've Got Mail
Editorial: Ediciones Experiencia 
Nueno, Pedro
Year: 2014
Language: English 

Innovation as Usual
Miller, Paddy; Wedell-Wedellsborg, Thomas
Year: 2013 
In addition to their other professional characteristics, the members of the business team should also be innovative and should receive some training in this area, possibly even outside the company. The authors say that leaders should be "innovation architects" at every level.

  • Entrepreneurship: a challenge and a leadership opportunity
    • Learning From the Entrepreneurial Icebreakers
      Prats Moreno, Mª Julia; Sosna, Marc; Sysko-Romanczuk , Sylwia
      This article shares the insights of "entrepreneurial icebreakers" -- business pioneers who launched private companies in Central and Eastern Europe after the fall of the Berlin Wall. Their insights are relevant to anyone launching a business in a transition economy.
    • Entrepreneurs: You've Got Mail
      Nueno Iniesta, Pedro
      Owing to globalization and the financial crisis, the role of entrepreneurship has assumed greater relevance. But in a series of email missives contained in his book, IESE's Pedro Nueno warns potential entrepreneurs against acting in haste. The viability of any venture depends on first carefully identifying your opportunity, and then developing a sound business plan around it.
    • Economic Reforms Just a Click Away
      IESE Insight
      The website is updated weekly by members of IESE's Public-Private Sector Research Center in collaboration with research associates, who work under the academic direction of IESE Prof. Xavier Vives and coordinators Lluís Torrens and Ramon Xifré.
    • The Startup Owner's Manual: The Step-By-Step Guide for Building a Great Company
      Blank, S.; Dorf, B.
      K and S Ranch Inc., K&S Ranch Publishing Division
      ISBN 9780984999385
    • "The Roots of Leadership"
      Stein Martínez, Guido
      Year: 2013
      In this paper, the author sheds some light on leadership, firstly from the point of view of the myths that obscure reality. He then looks at the characteristics of people with followers, since leadership becomes a solitary exercise if it has no impact on others. Secondly, he presents these characteristics through the history of Cyrus the Great, King of Persia, as depicted in Xenophon's Cyropedia, a work that Peter Drucker describes as the first book on systematic leadership.
    • "IESE Insight"
      IESE Insight
      Year: 2013
      Fabrizio Ferraro analyzes why responsible investment is growing and addresses the factors for success and the challenges faced by managers who incorporate these practices in their organizations. Paddy Miller and Thomas Wedell-Wedellsborg present five key behaviors to ensure that innovation becomes the norm in companies. Erran Carmel explains how companies can mitigate the problems of time and geographic differences in globally dispersed teams and turn them into a competitive advantage.
    • International Perspectives on Social Entrepreneurship Research
      Robinson, J.; Mair, J.; Hockerts, K.
      London: Palgrave Macmillan. January 2009 232 p
      ISBN 9780230543157
    • "Beyond Business Instinct"
      Prats Moreno, María Julia; Agulles, Remei
      Year: 2009
      It is widely assumed that entrepreneurs need business competencies like industry analysis, negotiating skills and resource management. However, personal and self-leadership skills are all too often overlooked, but play a vital role in entrepreneurship. Indeed they are a prerequisite for mobilizing the other capabilities and putting them to work in the various contexts in which entrepreneurship takes place. The authors debunk the notion of the entrepreneur as a natural-born genius with one-of-a-kind gifts. Instead, they propose a proper framework for classifying and developing entrepreneurial competencies through specific techniques and habits.
    • "If You Can, You Want: Entrepreneur"
      Velamuri, Rama; Venkataraman, Sankaran
      Year: 2004 
      People's decisions to become self-employed lead to the creation of many new companies, products, and services. It's entrepreneurship at its best. But what causes a person to make the jump from a steady, paid job to self-employment? Surprisingly, personal skills influence this decision more than money. This is demonstrated by S. Ramakrishna Velamuri, a professor at IESE Business School, and S. Venkataraman, a professor at the University of Virginia Darden School of Business, in their empirical study on the transition from paid work to self-employment. 
  • Entrepreneurship from within an organization
    • "Skills for Leading Change"
      Kim Cameron, Alberto Ribera, José Luis Guillén, Anneloes Raes
      To cope with the new environment, tools for enhancing our growth and that of organizations are vital. This file contains the following articles:
      - Five tips for being a positive leader
      - The benefits of mindfulness
      - Teamwork starts with senior management
    • "Wayra: Wind of Change for Telefónica"
      de Ros, María del Mar; Prats Moreno, María Julia
      Year: 2013
      When we think of Telefónica, we tend to imagine a huge multinational, lengthy bureaucratic processes and vast expanses of exchanges where data is accumulated and slowly processed. However, an initiative known as Wayra was conceived at the very heart of this famous company. Organized from within the Telefónica framework, it is an example of how a passion for innovation can bend the rules along the way.
    • "A Culture of Innovation Begins at the Top"
      Vilà Vilar, Joaquim
      Year: 2011
      Ikea has a slogan: "Never say never." The managers encourage employees to look for new and better ways of doing things. They are aware that their behavior is key to creating an innovative culture, as IESE professor Joaquim Vilà explains in a document containing good practices of highly innovative companies.
    • "When the Obvious and the Intuitive Don't Work"
      Gunther McGrath, Rita
      Year: 2009
      Past success can become tomorrow's liability. But instead of throwing out the old and taking a bold leap into the new, leaders in uncertain times should focus on creating conditions for internally generated growth. Rita Gunther McGrath, from Columbia Business School, presents a portfolio of opportunities that managers can employ. It includes a questionnaire to help you pinpoint the greatest sources of uncertainty, and thereby focus your investments in learning accordingly.
    • "Keeping the Founders' Spirit Alive"
      Tàpies Lloret, Josep; Nueno Iniesta, Pedro
      Year: 2009
      Estée Lauder created cosmetics to counter the effects of the sun on skin. It spotted an opportunity and knew how to exploit it. Many family businesses are created from the entrepreneurial spirit of its founders, but how can such a spirit be kept alive from generation to generation? Through entrepreneurship management, according to professors Pedro Nueno and Josep Tàpies in their white paper, published by Credit Suisse. 
    • "An Entrepreneurial Insight into Corporate Governance"
      Velamuri, Rama; Venkataraman, Sankaran
      Year: 2005
      The academic field of business and corporate governance is currently dominated by two contradictory schools of thought: the stakeholder theory and the stockholder theory. Which is right? In their article "Why Stakeholder and Stockholder Theories Are Not Necessarily Contradictory: A Knightian Insight", S. Ramakrishna Velamuri from IESE Business School and Sankaran Venkataraman from the University of Virginia Darden School of Business shed light on this million dollar question. The authors take a Knightian point of view, inspired by the "the elegant and parsimonious explanation for the birth and existence of firms" given by Frank H. Knight.
    • "Why Some Managers Are Entrepreneurs, and Others Are Not"
      Mair, Johanna
      Year: 2002
      In today's turbulent business world, corporations need entrepreneurs with fresh ideas. More and more traditional companies rely on proactive managers who are willing to drive new projects and tackle new challenges. Yet, within the same company, some managers act as entrepreneurs, while others prefer to stay away from risky activities. What is it that really prompts managers to adopt an entrepreneurial attitude? To analyze this phenomenon, IESE professor Johanna Mair takes an in-depth look at a Dutch financial company. Her conclusion? That managers are more likely to take on entrepreneurial tasks when they sense that they have access to resources and support from their colleagues, peers and supervisors. Moreover, the study shows that managers' belief in their own abilities and confidence that they can tackle entrepreneurial tasks are a powerful indicator of their real attitude.
  • Social Entrepreneurs
    • How a Social Logic Can Transform Your Business
      Santos, Filipe
      Social entrepreneurship offers a grassroots alternative to the usual way of doing business. This article highlights four crucial ways in which social entrepreneurs can drive alternative, highly impactive business decisions.
    • Running the Gauntlet of Social Entrepreneurship
      Curto, M.
      Since its emergence in the United States in the '80s, social entrepreneurship has proven that business and social awareness can go hand in hand. Today, an estimated 10 percent of all European businesses are now social entrepreneurs. But "making a difference" is often easier said than done. Marta Curto analyzes the challenges and difficulties facing this relatively new breed of entrepreneur.   
    • "What Are Social Entrepreneurs Made of?"
      Curto, M.
      Year: 2012 
      Non-profit organizations, foundations, cooperatives, professional associations, religious communities... In recent years, we have seen a real boom in third-sector organizations.
      This is certainly no coincidence. In the wake of the sovereign debt crisis, governments are facing greater challenges in financing their obligations. As a result, private citizens are taking it upon themselves to search for alternative ways to meet basic social needs.
      These citizens include a very large group of entrepreneurs whose main aim is to help improve social living conditions. They are social entrepreneurs. The term was coined in the 1980s by Bill Drayton, founder of Ashoka, the world's largest social entrepreneurship promotion network, and recipient of the 2011 Prince of Asturias Award for International Cooperation.
      Marta Curto, a research assistant at IESE, takes a closer look at these entrepreneurs and the role innovation plays in "Los emprendedores sociales: innovación al servicio del cambio social", a study published by IESE's "La Caixa" Chair of Corporate Social Responsibility and Corporate Governance.
    • "Are you a social entrepreneur? Understand the Community You Hope to Reach"
      Seelos, Christian; Mair, Johanna; Battilana, J.; Dacin, M.T.
      Year: 2010 
      Many people categorically reject the idea of child labor. But an Egyptian social business is taking a new look at this matter by employing children to do light work while it gives them an education. Why? The authors of this article believe that the best way to meet the social needs of these communities is to consider their specific influences and perspectives. 
    • "Social Entrepreneurship: Three Successful Business Models"
      Mair, Johanna; Schoen, Oliver
      Year: 2005 
      Grameen Bank, Mondragón Corporación Cooperativa and Sekem are three successful social businesses. Besides being profitable, they also meet unsatisfied social needs. Based on these business models, Professor Johanna Mair and IESE research assistant Oliver Schoen analyze the following questions: How do social entrepreneurs actually create social and economic value by setting up self-sustained organizations? What is contributed by strategies for building specific networks and procuring resources? How can social entrepreneurs ensure that the right target group captures the initiative's created value?
    • "What Drives Social Entrepreneurs?"
      Mair, Johanna; Noboa, Ernesto
      Year: 2005
      Social entrepreneurs are modern heroes who play an essential role in society's development. They work to alleviate social problems such as poverty, hunger and illiteracy. They fight against human rights violations and environmental destruction. But what drives them? With the aim of understanding how the intention of creating a social company germinates inside people, Professor Johanna Mair and IESE doctoral student Ernesto Noboa study the case of María Elena Ordóñez, who founded Arcandina in 1996. This Ecuadorian company prepares television programs and educational multimedia products designed to promote civic values and environmental protection among children.
  • Skills: starting over
    • "Rebounding After a Career Disaster"
      Sonnenfeld, Jeffrey
      Year: 2011 
      Suffering from a career setback can be one of life's most traumatic events. In an economic climate where unemployment is rife, many will be feeling this particular pain. For many, after years of economic stability and success, this may be their first taste of failure. While adversity can devastate the toughest human beings, it can also inspire them to greater things. This article, based on research and interviews with CEOs, offers a guide to rebounding from career setbacks. Citing numerous examples of great leaders who have suffered from being ousted or let go, or who have had their reputations tarnished in some way, the author considers the societal, institutional and psychological barriers to recovery. He then shares some key strategies, using reputation management and support networks, to regain control and rediscover a new heroic mission.
    • "Quest for a Second Entrepreneurial Opportunity"
      Roure Alomar, Juan; San José, Amparo; Segurado Llorente, Juan Luis
      Year: 2007 
      How many times do entrepreneurs fail before they achieve success? Once? Twice? According to the report "Analyzing Entrepreneurial Failure and Designing Mechanisms for New Entrepreneurial Attempts", by IESE Business School, INYPSA and Octansis, the answer is an average of 2.5 times. In order to stimulate "re-entrepreneurship," the process by which entrepreneurs try again after a failed first attempt, this research group has prepared an action plan that covers public policies and financial, business, cultural and social aspects. A pilot project will be launched in Chile and, if successful, will be replicated in other Latin American countries.
  • Skills: creativity and innovation
    • How to Persuade Audiences to Action
      Neill, Conor
      If you have ever finished a presentation to a polite smattering of applause, you probably didn't start out by asking yourself the right questions. As IESE's Conor Neill explains, most communication fails because the speaker isn't clear, specific or realistic about what he or she wants from the audience. Winning the argument is all well and good, but the ultimate prize is winning audience action, and that takes planning.
    • "Managing Creativity and Innovation in Organizations"
      Massa, Lorenzo; Rosenberg, Mike
      Year: 2013 
      The technical note explores the tensions between organizational structures and innovation. Building on Teresa Amabile's work on creativity, the note explains how management systems and structures have the potential to enhance innovation. After presenting the personality traits of creative individuals and distinguishing the types of innovation processes, it then identifies how informal organization and semi-structures can foster creativity and improve innovation efficiency.
    • Saca la crisis de tu cabeza (Get the Crisis out of Your Head)
      Chiesa de Negri, Cosimo; Chiesa, Ludovica
      Year: 2013 
      This is story of a newly appointed CEO of a pharmaceutical company who is extremely concerned about the economic environment of the Spanish and European crisis. He decides to ask his former teacher for advice and is advised to carry out a thorough diagnosis of his company, especially regarding 100 specific factors. Through an entertaining narrative, the executive learns about the impact of restrictive attitudes and beliefs, and many other important issues surrounding leadership and emotional intelligence.
  • Competencies: project management
    • "A Project Management Methodology"
      Moscoso, Philip G.; Ribera Segura, Jaume
      Year: 2013
      This technical note presents a project management methodology for managers. The methodology is developed throughout the main life-cycle phases of a standard project and has been successfully applied in several practical cases. The methodology also includes useful tools in different life-cycle phases and provides practical recommendations for successfully implementing the methodology in businesses.
  • Skills: negotiation, networking and collaboration
    • Five Essential Strategies for Creative Negotiations Premium
      Mehta, Kandarp
      Using a role-play experiment, IESE's Kandarp Mehta observes the role of creativity in negotiation. The creativity of the counteroffer appears to be the most significant variable influencing the success of the final deal. With that in mind, he proposes five strategies to help readers be more creative when they negotiate.
    • Think You Have Power? Check Your PerceptionsPremium
      Brion, Sebastien 
      This article identifies six steps to gain power -- meaning control over some valued resource upon which others depend -- and then use that power for good. Only by learning to use your power wisely will leaders be able to enhance group success and make decisions that have a positive impact on others.
    • "Understanding Your Social Network and How to Use It"
      Ferraro, Fabrizio; Tortoriello, Marco
      Year: 2013
      A picture is worth a thousand words, so drawing a picture of your personal and business network has many potential benefits beyond simply finding out who your friends are. In the technical note "Visualizing Your Social Network", IESE faculty members Fabrizio Ferraro and Marco Tortoriello hold that by mapping your networks, you will be able to see much more clearly how everyone in your company is connected and where you sit within that matrix.
    • "Five Essential Strategies for Creative Negotiations"
      Mehta, Kandarp
      Year: 2012
      From the corridors of political power to the boardroom, the ability to hold your own around the negotiating table is fundamental. Many fail partly because negotiators are unable to come up with creative, integrative deals, which research shows are a significant variable in reaching a conclusion satisfactory to both parties. Using a role-play-based experiment, the author observes 207 dyadic negotiations and discovers that a creative solution in a negotiation depends on the amount of creativity deployed in the tabling of the first offer and the resulting counteroffers. Moreover, the creativity of the counteroffer appears to be the most significant variable influencing the success of the final deal. Based on this finding, the author proposes five strategies to foster creativity during negotiations.
    • Collaboration: The Key to Making Innovation Last
      MacGregor, Steven P.; Carleton, Tamara
      Year: 2012
      What do a Spanish bank, Indian design and Swedish healthcare have in common? The three cases illustrate that it is possible to create value through collaborative innovation. These and many other success stories are featured in a book edited by Steven P. MacGregor and Tamara Carleton. The book shows that long-term value can be created and captured, despite the increasingly complex environment.
    • "Networking in Seven Simple Steps"
      Neill, Conor; Ferraro, Fabrizio 
      Year: 2011
      Networking is like brushing your teeth. Does it feel natural or enjoyable? Not really. Is only brushing your teeth when you have a toothache enough? Regrettably, no. In the same way, networking requires constant and careful attention over a prolonged period of time.