Word: entrepreneurism
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...recent innovation is the combination of some Ashoka operations with McKinsey's expertise. In the slums of Sao Paolo, Brazil, an Ashoka entrepreneur named Leonardo Pessina was able to build high-quality housing at less than half the normal construction cost by getting the community to provide much of the labor. But managing a huge construction operation threatened to overwhelm even the committed Pessina. So McKinsey made available about 25% of its local staff as volunteers to manage the project. And the consulting firm received a major payback. "McKinsey has an understanding of the local housing market that it never...
...leads the $20 million New Schools Ventures Fund, a foundation dedicated to educational causes, which gets its money from venture capitalists and CEOs. Doerr says he looks for the same attributes in his philanthropic projects as he does in his tech investments. "I like to see a passionate founding entrepreneur, strategic focus on a large underserved need, scalability and the ability to become a freestanding venture," he explains during a break between pitches...
...famed French characteristics--an innate suspicion of wealth and a fear of risk--are fast breaking down as a younger generation taps into the Internet revolution. "Ten years ago," says Minc, "only 1 out of 200 graduates of France's elite universities said he wanted to be an entrepreneur. Today it's more than half." Indeed, the rise of the young, well-educated, global-minded generation is one of the most important forces driving the French renaissance in almost every area...
...most important missing ingredient is usually a strategy. "An entrepreneur needs to figure out years in advance to whom in the family a business will be passed down and why--a major decision that can have so many mixed emotions and feelings attached to it," Messervey says. "Had we known my brothers' feelings more about the business, we might have avoided having their feelings hurt," says Marshall-Chapman. "These are very sensitive issues for families...
With $70 million in long-term funding from the late biotech entrepreneur Wallace Steinberg, TIGR (pronounced tiger) finally gave Venter freedom to do what he wanted. But there was a hitch. First crack at any genes it decoded went to the nonprofit institute's commercial partner, Human Genome Sciences, led by former AIDS researcher William Haseltine...