Why Entrepreneurial Management is key to Innovation

Senodia

- application of MEMs to iphone (gyroscope)

SENODIA is a fabless MEMS based chip development company which targets on the over 3 billion US dollars MEMS gyroscope and IMU global market. Our market focus is the new generation of MEMS integrated gyroscope and IMU chip used for Consumer Electronics, GPS and Automobiles.Our products line includes Low-end and Mid-end MEMS gyroscope and IMU chips. Our projected Time-To-Market is In 2009, to produce the world thinnest and smallest Gyroscope chip (4x4x1 mm) and in 2012, to have over 150 million US dollars sales.

A tale of 2 car rental companies.

The company was founded in 1946 with three cars at Willow Run Airport^[3], Detroit by Warren Avis (August 4, 1915 – April 24, 2007^[2]). Avis has been owned by a number of other companies over the years, along with several periods of being a public company. These include:

• 1962 - Investment group Lazard Freres
• 1965 - ITT Corporation
• 1977 - Norton Simon
• 1983 - Esmark
• 1984 - Beatrice
• 1986 - Investment firm Wesray Capital Corporation
• 1996 - HFS Corporation
• 2001 - Cendant
• 2006 - Avis Budget Group

The worst board meetings are when the company had been LBO and "how do we make our next payment to avoid being sent into receivership"

Contrast with EHi of China.

Young people doing products? How can I delight my customers?

3M vs large enterprises today.

3M - contrast that with the modern enterprise of today.

Wu Jiang Guang - It is easy to find people who did things according to a template and what has been done in the past. The tougher is to find people who could innovate.

- In a downturn, consolidate
- franchise the easy shops, do the shops which were tougher to operate
- took over other brands (in stronger geographies)
- membership - the more you buy, the more discounts you get.
- Internet

Douglas Foo of Sakae Sushi
- Vitamin E
- lab-testing
- conveyor belt to roll out watches / sushi belt in Zouk.

Alex Ferguson
- some people tell me he is a good coach
- I say he is a good CEO, He has been with Manchester United since 1986,
- been through different environment and adversity.
- different players, teams 20 years ago all different.
- So what is Cristino Ronaldo leaves, he picks the next batches