Space Industry Faces Deep Transformations Post-COVID-19
The image of a Falcon rocket topped by the Crew Dragon capsule designed and manufactured by private company SpaceX as part of a NASA mission, has struck world public opinion in May 2020. Like its landing in the Gulf of Mexico a few weeks later, in early August. It illustrates the profound changes that have affected the space industry in recent years. In this article, Professor of international business law Lucien Rapp describes the transformation of the space industry and the strategies developed to enter the space market, as well as the challenges of its privatization for the future of the industry.
How Unemployment Insurance Can Foster Business Dynamism
Research by Johan Hombert (HEC Paris) recently published in The Journal of Finance shows that well-designed unemployment insurance is key to foster business dynamism. As unemployment is surging in the wake of COVID-19, the post-crisis policy toolkit should take special care of the design of unemployment insurance.
The 4 Key Stages of Idea Creation in the Creative Industries
Despite the romantic view that artistic genius and organizations are at odds, creativity alone doesn't generate full-blown creations. The creation process needs to be managed so as to translate ideas into new movies, perfumes or novels, and bring them to the market. HEC Paris's Thomas Paris carried out ten in-depth case studies of businesses from the movie industry to haute cuisine and along with Sihem Ben Mahmoud-Jouini, identified the four key stages of the creative process.
Building Trust between Investors and Entrepreneurs
Trust plays a key role both in investors’ and entrepreneurs’ performances. It is built among others on a shared vision of entrepreneurship, as well as shared networks. In this interview, HEC Paris Professor Hélène Löning shares her expertise based on research and several studies about entrepreneurial ecosystems conducted with her students. She introduces the different relationship stages between investors and entrepreneurs, explains the consequences of shared images of entrepreneurship, and the business schools’ key role in building this relationship and its ability to innovate. To conclude, she emphasizes the notion of trust by explaining how it applies to investors and entrepreneurs.
4 Lessons from Bringing Design Thinking into a Business
Design thinking has been hailed as the latest strategy to gain a powerful competitive edge in both innovation and processes. But to be successful, it must involve a major cultural and organizational shift. Two researchers and Thales Chief Design Officer share the lessons from their analysis of bringing design thinking to technology giant Thales.
What Approach and What Future for Companies Hit by COVID-19? Managing Contradictions in the Affected Companies
What we are experiencing is similar to an earthquake of strong magnitude. Everyone agrees that there will be a before and after Covid-19. Whilst this earthquake assails us all, we do have control of the choices and decisions to be made. These will determine how crippled or strengthened we will be by the end... As always in times of crisis there are losers and winners, the cards are redealt.
Cash Management in Times of Crisis
Fears about economic depression following the pandemic lead most entrepreneurs to restructure their company drastically in order to secure their cash and prevent future liquidity crises. Etienne Krieger, Associate Professor on the Education Track at HEC Paris, explains the main challenges for entrepreneurs when major economic crises occur and their room for manoeuvre in terms of operations and finance. Such crises paradoxically provide a unique opportunity to rethink business models.
The Impact of Overconfidence and Attitudes towards Ambiguity on Market Entry
For many people who have started their entrepreneurial adventure, the biggest challenge is to believe in yourself. Yet, for those who choose this path, confidence can also make the entrepreneur underestimate actual business risks, leading to fatal decisions. Researchers of HEC Paris Business School and Bocconi University offer a new explanation for why decision makers often appear too confident, and shed light on the consequences of this characteristic.
Academic Entrepreneurship: Who Owns Patents and Businesses?
Researchers have investigated the effect of the transfer of intellectual property rights from researchers to employing universities, in the USA and in Europe. While the effect of this act is positive in the US (more production and therefore competitiveness), the effect is negative in Europe (fewer creations). Interview with Thomas Astebro, professor of entrepreneurship at HEC Paris.
Making a Change: Teaching Sustainable and Inclusive Business
“Continuing to do business as usual is no longer an option,” argues Professor Bénédicte Faivre-Tavignot. She explains the push at HEC Paris to develop programs dedicated to sustainability and inclusive business and, just as importantly, to integrate those principles throughout the business school’s mainstream core offerings.