LakeEffects Blog

Global Focus Lessons Learned

Author: Ellen McMahon, EdD

Thursday, June 26, 2014

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Now that the week-long study program in Krakow and Warsaw Poland is over and I have reviewed the student reflection papers and their consulting presentations I am struck again by how important global programs are. Not only does the Global Focus program at LFGSM provide an opportunity for students to apply what they learn in class to issues or opportunities in a global context, but it also gives each of them the opportunity to navigate daily routines in that same global context.

The consulting projects, all US companies exploring expansion into Poland, helped structure the kind of meetings and companies visited. Through the lectures of local faculty, students were able to understand the history and context of economic transformation in Poland.  Our primary local faculty, Dr. Kris Gluc, posed provocative questions that triggered debate and reflection.

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Lessons from the Frontlines of Entrepreneurship

Author: Manish Shah

Thursday, June 19, 2014

I have distilled the most important lessons from my experience as an entrepreneur.

Develop EQ

To be a successful leader one needs high Emotional Intelligence. Having a high IQ and technical skills are necessary but not sufficient traits for leadership success. Emotional intelligence comprises of qualities such as:

  • Self-Awareness—a clear understanding of one’s strengths and weaknesses,
  • Self-Regulation—control of one’s emotions and ability to channel them to create a positive impact,
  • Motivation—achievement not just for external gain but for internal fulfillment,
  • Empathy—understanding of other peoples’ perspectives and feelings in making decisions, and
  • Social Skills—skillful management of relationships with other people. These qualities can be developed by self-awareness and reflection.

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How Crowdsourcing and Start-Ups Go Hand in Hand

Author: Greg Kozak

Monday, June 09, 2014

Having an idea is only the start of the uphill climb to seeing its underlying vision become a reality.  When discussing start-up enterprises, the term ‘crowdsourcing’ generally follows close behind and is almost synonymous.

In a more robust global economy and in the past, entrepreneurs have been able to secure investment and capital from financial institutions.  Thanks to the ‘credit crunch,’ most freelance entrepreneurs have little chance of securing investment through traditional sources – which is why crowdsourcing is such a viable option for launching new platforms and ideas.

Crowdsourcing is a term that originates from two words: crowd and outsourcing.  For many businesses, it is the best way to get the necessary support needed to take a product from concept to market successfully.

 

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