How can companies diversify their revenue portfolio to protect themselves against future economic downturns and create a sustainable growth?
Petroleum Technology Alliance Canada (PTAC) invites your organization to participate in the upcoming Entrepreneurial Management Workshop, being hosted in Calgary, AB on March 19, 2018 by 1388 Consulting.
Entrepreneurial management (EM) is a strategic process within a firm aimed at pursuing new opportunities that have the potential to create profit through innovative strategic actions. Unfortunately, the majority of established firms do not have such Entrepreneurial Management skills in place. As a result, most established firms have not been able to build on new opportunities within their firms to create new revenue streams. The workshop covers in-depth Entrepreneurial Management concepts, including:
- Disciplined and systematic opportunity identification
- Generating creative solutions
- Business modelling
- Preparing and validating business cases
- Effective execution organization
- Fostering the organizational environment supporting the firm-level entrepreneurial management.
The workshop organization includes a combination of discussion of practical entrepreneurial management tools and concepts with hands-on participant experience on applying these to real-world cases. The EM workshop helps you to achieve a sustainable growth path for your established organizations.
THE CANADIAN OIL AND GAS INDUSTRY
As the Canadian Oil industry is coming out of a relatively long period of low commodity prices and thin profit margins, there are two major questions facing CEOs in Alberta`s market:
1. How can companies diversify their revenue portfolio to protect themselves against future economic downturns?
2. How can companies increase their innovative capabilities to enable them to extract new resources in a more environmentally acceptable way and with less cost?
There is no doubt that established Canadian oil and gas firms need to become more competitive. To be competitive in such a hyper competitive energy industry environment (increasing competitive power of emerging renewable energy firms, increasing production in USA and adding new oil and gas producers to already over supplied oil and gas global market) Canadian firms need to continuously find ways to decrease their cost, increase their growth and create new revenue streams.
1388 Consulting believe’s the answer to these questions and challenges can be found within the firms’ boundaries. There are numerous technical and non-technical innovations within the oil and gas firms that have potential to be monetized by utilizing them in other industries. In addition, there are many areas that firms can increase their efficiencies. However, established firms are unable to identify these opportunities unless the higher management team provides the opportunity to all employees to become innovative and entrepreneurial in their areas of expertise. By applying effective entrepreneurial management skills, executive and senior managers can create a rewarding environment for their innovative employees. Towards this, 1388 Consulting is offering a series of Entrepreneurial Management (EM) workshops designed for managers and executives to help them lead your organization towards sustainable growth.
WHAT IS “ENTREPRENEURIAL MANAGEMENT” & WHY IS IT IMPORTANT?
The reality of today’s market economy creates the growth imperative, implying that valuation of a company (and corresponding shareholder wealth) rises only when the firm’s management constantly finds new avenues for revenue and profit growth, unaccounted for in the present-day stock prices. In other words, no corporate leader can perpetually reap the rewards from past successes, and the only way for sustainable shareholder value creation is through constant, sustainable growth of the business.
This can be achieved through systematic use of entrepreneurial management approach, allowing identifying and successfully exploiting the novel opportunities in the marketplace. This is a disciplined yet expansive approach to organizational problem solving and strategic decision-making, serving to expand the decision-maker’s horizon of options and leverage available resources in the constrained contexts, applicable to any organizational context: e.g., established and start-up companies; public and private organizations; market and social-focused settings. Moreover, properly organized strategic management process ensures that the risks associated with innovation and entrepreneurship are properly controlled, allowing the established companies to substantively exceed the industry growth without simultaneous increase in risk profile.
Entrepreneurial management is in essence a strategic process within an organizational context aimed at pursuing firm opportunities that have the potential to create firm-level economic value and/or societal value through innovative strategic actions. However, the reality of most established organizations prevents fostering of this process, because of numerous factors, such as managerial training in analytic thinking (which is not supportive of opportunity identification), incentive system intolerant to failures (which are the essential component of learning), lack of necessary leadership competencies and skills to take a full advantage of opportunity-based planning, or general organizational culture un-supportive of strategic entrepreneurship.
This experiential workshop covers in-depth entrepreneurial management concepts, including disciplined and systematic opportunity identification, generating creative solutions, business modelling, preparing and validating business case, effective execution organization, and fostering the organizational environment supporting the firm-level entrepreneurial management. The workshop organization includes a combination of discussion of practical entrepreneurial management tools and concepts with hands-on participant experience on applying these to real-world cases.
THANK YOU TO OUR SPONSORS
The Innovation and Entrepreneurship Experts
Dr. Amir Bahman Radnejad is CEO at 1388 Consulting and a faculty member at State University of New York at Brockport, USA, where he researches sustainable development and innovation strategies in the energy industry and teaches strategy, entrepreneurship and international business. He is a visionary and engaging leader with more than 10 years of high profile progression and recognition for top leadership performance, delivering strategic, consultative business advice to clients seeking to enter various global markets coupled with expertise in areas of revenue/profit generation, new business development and market share expansion. He has been featured on different radio and TV programs and has been an invited speaker at reputable universities such John Hopkins University (USA) and University of Tehran (Iran). He earned his Ph.D. in Strategy & Global Management from the University of Calgary, Canada, Masters in Innovation Management and Entrepreneurship from University of Manchester, UK, and BSc in Chemical Engineering from University of Tehran, Iran.
Dr. Oleks Osiyevskyy is a faculty member at Haskayne School of Business, University of Calgary, where he coordinates the delivery of Entrepreneurial Thinking course, required for all MBA students. In his scholarship, consulting and executive training, he concentrates on the problem of achieving and sustaining firm growth through successfully engaging in entrepreneurial strategies. Particular areas of expertise include analyzing and designing innovative business models, improving the efficiency and effectiveness of corporate innovation practices, and evidence-based strategies for developing high-growth new ventures. Oleks founded his first Internet startup back in 2003, while still in the undergraduate program in Computer Engineering. Since that time, he has been actively engaged in real-world business practice across the globe as an entrepreneur, manager within large companies, consultant and educator. Dr. Osiyevskyy has mentored, co-founded, invested in and served on the boards of numerous startups within the broad range of industries (education, transportation, e-commerce, among others), and engaged in strategic entrepreneurship consulting projects within large organizations.
Dr. Hossein Mahdavi is an experienced engineer and management consultant. He has deep knowledge of several industries including telecommunications, IT, oil and gas, and higher education. His expertise is triggering corporate innovation through helping the organization generate ideas, create incentives for creativity and innovation, build bridges between departments disciplines, and establish the needed support and culture. Coming with a background in market research, he has a systematic approach to assure balance between creativity and data-driven decision making in the process of analyzing and synthesizing the solutions to complex business problems. He has advised major companies and public organizations on their competitive strategies and helped them transition through market disruptions by refreshing their strategies and staying innovative. He is an expert facilitator in the boardroom who is able to create consensus and bridge the gap between technical and strategic viewpoints. Hossein has a degree in electronics engineering and an MBA, in Shariff University, Tehran, Iran, and a PhD in strategic management from the University of Calgary.
Time Activity 8:30am Registration Opens 8:30-9am Breakfast and Networking 9-10:20am Introduction to Entrepreneurial Management
• Problem identification
• Generating creative solution
• Business modeling and validating the business case
• Organizational support for entrepreneurial management
Coffee Break 10:40-12pm • Barriers to innovation in oil & gas industry
• Leadership characteristic and culture for innovation
• Processes to support innovation
• Practice of measurement and evaluation of innovation
• Next steps in your organization
Q&A, adjournment, and networking
All Attendees: $40.00 +GST