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Transformational Change in a Competitive Environment

Delve into the experience of Sherwin Greenblatt, focusing on transformational change and lessons learned from founding Bose Corporation to the MIT Venture Mentoring Service. Discover the characteristics of a good improvement program, benefits of successful initiatives, and the challenges faced in academia and the business world. Gain insights into the evolving landscape of higher education and innovative ideas reshaping the industry.

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Transformational Change in a Competitive Environment

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  1. Transformational Change in a Competitive Environment Sherwin Greenblatt Director, MIT Venture Mentoring Service Sixth Congress of University Administration Santiago, Chile 14 January, 2010

  2. Experience in the Business World • Founding of Bose Corporation • Early experiences • Establishing a successful company • Discovering the need to make a transformational change

  3. Quality at Bose • Competitive problems • Early attempts • Automotive experience • Center for Quality of Management (www.cqm.org)

  4. Lessons Learned - Needs • Support from the top • A focus for everyone • Realization that for improvements to occur, changes have to take place. Big improvements require major changes

  5. Characteristics of a Good Improvement Program • Draws on proven tools • Uses systematic techniques • Involves everyone in the improvement process • Provides a common way of sharing successful ideas

  6. Benefits of a Successful Program • Better productivity – more with current resources • Less errors – lower costs • Frees up resources for other activities • Good morale

  7. Experience in the Academic World • Retirement from Bose • MIT Venture Mentoring Service • MIT Executive Vice President • MIT Alumni Association CEO • What I Learned

  8. Retirement from Bose • Goals achieved • Job not matching my skills/interests • Desire to experience “The Rest of the World” • Uncertain about the future • Desire to focus on entrepreneurship

  9. Experience in the Academic World • Retirement from Bose • MIT Venture Mentoring Service • MIT Executive Vice President • MIT Alumni Association CEO • What I Learned

  10. MIT Venture Mentoring Service • VMS is an educational program supporting aspiring entrepreneurs from the MIT community. The program is driven by a group of volunteer mentors willing to share their significant business experience. • VMS helps individuals commercialize an idea they are passionate about.

  11. Mission of VMS • Supports entrepreneurial activities within the MIT community • Furthers the educational mission of MIT • Strengthens MIT’s role as a world leader in innovation • Broadens MIT’s base of potential support

  12. VMS Goals • Educate aspiring entrepreneurs about the venture creation process • Develop entrepreneurial leaders • Build a vibrant community of experienced business mentors • Bridge the worlds of academia and business • Create successful ventures

  13. VMS Accomplishments • > 1,200 entrepreneurs served • > 700 ventures served • > $600 million raised by ventures • Other institutions starting programs modeled after ours

  14. Experience in the Academic World • Retirement from Bose • MIT Venture Mentoring Service • MIT Executive Vice President • MIT Alumni Association CEO • What I Learned

  15. MIT Executive Vice President • The call from the President • Similarities with business • Nature of the enterprise– two products and an independent source of revenue • Research • Education • Philanthropy

  16. University as an Enterprise • Intellectual framework • Many influential constituencies • Lots of independent organizations • Lines of authority unclear • Focus on today’s problems

  17. Experience in the Academic World • Retirement from Bose • MIT Venture Mentoring Service • MIT Executive Vice President • MIT Alumni Association CEO • What I Learned

  18. Experience in the Academic World • Retirement from Bose • MIT Venture Mentoring Service • MIT Executive Vice President • MIT Alumni Association CEO • What I Learned

  19. Environment is Changing • Endowment support has dropped dramatically • Tuition rising faster than inflation • Weaker federal and state aid for higher education • Declining support for sponsored research • Internationalization of higher education • Post 9/11 fall out

  20. Traditional Values are Changing • Business world is indifferent • Value of a college degree is being questioned • For profit institutions growing rapidly • Foreign students go home when they graduate

  21. Some Things Stay the Same

  22. But They’re Not the Same

  23. No One Solution to Problems • Old models aren’t working anymore • New ideas beginning to emerge – must learn from them

  24. New Ideas in Higher Education • For profit colleges • Open sharing of the best – OCW • Online/blended learning – Fast Track • Interactive learning • More productive administrative organizations - NCCI

  25. Impediments to Improvement • NIH (Not Invented Here) • Conservatism • Internal competition • Local optimization

  26. Our Challenge • Rise above the fray • Get people working together • Focus on outside competition • Build on what is unique and beneficial about our institutions • Experiment continually • Never give up

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