Open Innovation Tackles NCDs in Africa

The Devex Impact website reported that to understand more about Africa’s increasing noncommunicable diseases (NCD) threat, we need to bring together the brightest scientific minds to work as a team rather than struggling alone to find answers. No single country in the region has enough researchers with the appropriate mix of skills required to tackle this challenge. GlaxoSmithKline is drawing on its research expertise to help kickstart the discovery of new and better treatments for NCDs. But its approach to tackling these diseases in Africa is turning the usual model of closely guarded research and development on its head with the establishment of the world’s first R&D “Open Lab” for NCDs in sub-Saharan Africa.

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Local innovation for improving primary care cardiology in resource-limited African settings: an insight on the Cardio Pad(®) project in Cameroon.

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Local innovation for improving primary care cardiology in resource-limited African settings: an insight on the Cardio Pad(®) project in Cameroon.

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Build a Better Brainstorm: How to capture all the ideas in the room

In recent years, typical business brainstorming has gotten a bad rap for a lot of reasons: It is ineffective. It is dominated by loudmouths. Most people think better alone. So why is brainstorming still widely utilized by businesses intent on idea generation? The answer has more to do with the inherent biases and shortcomings we do not see in brainstorming than what is observable in the process.

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Is Economic Growth a Question of Culture?: A decade of research shows how culture seeps into economic decisions

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As some countries’ economies churn steadily—even briskly—over time, others’ remain stagnant. While standard economic variables, such as productivity and availability of capital, explain international differences, some of these differences remain unexplained. Gaps in economic development often seem to fall along cultural lines. “Culture and economics, they move together,” says Paola Sapienza, a professor of finance at the Kellogg School. But does culture follow economic development or is economic development directed by culture?

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The Eight Cs of Transformational Change

Agile Innovation is an execution-based model, not a control-based model. This means that the focus is on what you do (execution) rather than on what you are instructed to do. Hence, this approach requires inner motivation, and it’s not going to thrive in environments characterized by extrinsic, hierarchical, or fear-based motivational schemes. In this final excerpt from Agile Innovation, Langdon Morris discusses approaches necessary to transform organizations to achieve innovation actions and outcomes.
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Financial influences on export status of small and medium-sized enterprises in an emerging economy

Financial influences on export status of small and medium-sized enterprises in an emerging economy
Abu H. Ayob; Sveinn Vidar Gudmundsson; Mohd Hasimi Yaacob
International Journal of Entrepreneurship and Small Business, Vol. 24, No. 3 (2015) pp. 433 – 454
The purpose of this study is to understand financial and behavioural influences on the export status of small and medium-sized enterprises (SMEs) in an emerging economy. In particular, we tested the direct effects of perceived costs, internal financial resources and external capital constraint on the export status of SMEs. We also tested the moderating effect of cost sensitivity on two types of perceived export costs. Survey data was collected from 356 SMEs in Malaysia and analysed using logistic regression. The results show that exporters perceive higher ongoing costs but lower initiation costs of exporting. They also perceive higher internal financial resources, fewer constraints in accessing external capital and are more sensitive towards costs compared to non-exporters. Furthermore, we found that cost sensitivity moderates the relationship between perceived costs and export status.

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An example of Open Innovation in China

The Business Spectator reports that Zhang Ruimin, the chairman of the Haier group of companies, wants to turn Western management theory on its head and transform Haier into a giant platform for innovation. As a maker of white goods, the old structure revolves around research and development and sales and marketing. In this brave new world, Haier will dismantle traditional structures in favor of open platforms where people can bring in their own ideas and resources to develop new products and services. Zhang’s dream is to turn Haier into an open ecosystem.

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Innovators need to sweep investors and customers off their feet

To succeed, innovators with new ideas and start-up companies need passion, commitment and optimism. “Technologies are not made by doubters, cynics or sceptics,” highlighted US venture capitalist Roman Kikta at the recent Innovation Bridge event in Pretoria. “Technology and innovation and entrepreneurship raises the quality of life not just for local people but for people around the world,” he pointed out. “There are also transformative innovations coming out of South Africa.”
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Predicting loan repayment default among second tier borrowers in Ghana

Predicting loan repayment default among second tier borrowers in Ghana
Kwami Adanu; Emma Boateng
International Journal of Entrepreneurship and Small Business, Vol. 24, No. 3 (2015) pp. 417 – 432
This paper evaluates factors that affect the probability of loan repayment defaults using repayment data on loans granted by Snapi Aba Savings and Loans Ltd, Ghana. Results from logistic regression analysis of the data indicate that, contrary to findings elsewhere, age of borrowers is irrelevant in predicting probability of defaults in this study. Rather, credit screenings should focus on the gender of borrowers, payment frequency, loan cycle, and loan size. The probability of repayment defaults increases by about 1.3% for male borrowers as compared to female borrowers. Further, clients with longer credit history with the lending agency are more likely to default, and default probability is declining in loan size. Also, one-time lump-sum loan repayments reduce repayment defaults by about 2.2% as compared to regular monthly repayment options. Finally, educational level of borrowers and interest rates are irrelevant in predicting defaults.

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How to attract the crowd in crowdfunding?

How to attract the crowd in crowdfunding?
Sibin Wu; Bin Wang; Yuanqing Li
International Journal of Entrepreneurship and Small Business, Vol. 24, No. 3 (2015) pp. 322 – 334
We use signalling theory to study a new capital market finance phenomenon: crowdfunding in China. Our finding indicates that signals such as the frequency of announcements and the amount of the highest bid have an impact on the success of crowdfunding projects. Based on a sample of 192 projects collected on a Chinese crowdfunding platform, demohour.com, we find that the amount of the highest bid has a positive effect on completing a successful crowdfunding project. However, for high-tech industry, our results indicate the amount of the highest bid is not as effective as the movie/music industries. We also find the frequency of announcements made by the project founders is a better predictor for funding success in the high-tech industry than in the movie/music industries.

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