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Innovation Towards Innovation Towards EntrepreneurshipEntrepreneurship
““I have more respect for the person who succeeds with I have more respect for the person who succeeds with an idea than for the person who has thousands of an idea than for the person who has thousands of ideas and does nothing about them”ideas and does nothing about them”
Tomas EdisonTomas Edison
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History of EntrepreneurshipHistory of Entrepreneurship
• History of the Entrepreneurship
– Production Level vs. local consumption
– Exchanges of production
– Governmental Agencies engagement, XVII Century (offered the capital for financing the production entrepreneurships)
• The current development of Entrepreneurship began after World War II, 50th years when states are seeking to build their economies from the destruction of war.
– People had new ideas for businesses or work as individuals and started in many ways and with limited capital to established businesses which continued to challenge companies large.
• Entrepreneurship is the driving force of economic development and entrepreneurs by introducing new ideas in the market are responsible for economic development of a country
• Entrepreneurs are faced with the dilemma characteristic in their businesses going entrepreneurship across the life cycle of which consists of four phases: inception, growth, maturation and emergence
• Product Innovation has to do with the Final product (or service) that will be sold, the especially with regard to its features
• Innovation process has to do with the way in which the product is produced and distributed, particularly with respect to improvements cost or reliability. 4
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Entrepreneur DefinitionEntrepreneur Definition
• Entrepreneurs should be able to identify new products / services and secure financial capital and new resources to produce and deliver these products.
• Funding and other resources can come from them or from other sources
• They are prone to take risks and associate with economic growth.
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Creativity, innovation and Creativity, innovation and entrepreneurshipentrepreneurship
Creativity is thinking new things, and innovation is doing new things
Creativity is the ability to develop new ideas and to discover new ways of looking at problems and opportunities.
Innovation is the ability to apply creative solutions to those problems and opportunities in order to enhance people’s lives or to enrich society
Entrepreneurship = creativity + innovation
Creating the Value in the MarketplaceCreating the Value in the Marketplace
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From Creativity to EntrepreneurshipFrom Creativity to Entrepreneurship
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Skills Required for an EntrepreneurSkills Required for an Entrepreneur
The 2005 state of KEK - T & D DivisionThe 2005 state of KEK - T & D DivisionExternal EnvironmentExternal Environment
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Ownership ID
KEK assets were managed by the Kosovo Trust Agency;
KTA was a UN instrument, established by UNMIK Regulation No. 2002/12;
Ownership transferred to the Government of Kosova (following the approval of the “Ahtisaari” Plan by the United Nations Security Council);
Possibly to the Ministry of Energy and Mines;
KEK was a vertically integrated corporation;
Incorporation was performed by the end of 2005;
KEK was managed by Board of Directors;
KEK BoD was established by the Board of KTA and its members are selected by the same body;
The Executive team was made of local managers;
The Executive Team needs the approval of BoD;
Management ID
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The 2005 state of KEK - T & D DivisionThe 2005 state of KEK - T & D DivisionExternal Environment, Cont…External Environment, Cont…
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Athens Treaty ID
Treaty establishing the European Community for Energy;
Signed on October 25th 2005;
Kosova signatory of the Treaty;
Equal partner in the energy market of the SEE;
Integration into the EU market;
Direct representation in the Energy Community bodies;
ERO regulates the energy market of Kosova and issues:
Conditions and criteria for issuing licenses to carry out energy activities;
Procedures for granting permits for the construction of new generating and transmission capacity;
Criteria for regulating network and public supply prices and approving tariffs;
Conditions of energy supply; Monitoring the effective unbundling
and development of competition in the energy sector;
Costumer protection, etc.
ERO ID
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The 2005 state of KEK - T & D DivisionThe 2005 state of KEK - T & D DivisionExternal Environment, continue…External Environment, continue…
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Stakeholders ID
Government Laws, Rules and Regulations (Kosova’s Assembly, Ministry of Energy and Mining, Ministry of Economy and Finances, Ministry of Environment, Ministry of Labor and Social Welfare;
Donors Rules and Regulations (World Bank, International Monetary Fund, European Bank for Development, USAID, European Agency for Reconstruction (EU), German Bank for Development (KfW), SIDA, etc.);
Others (Customers, UNMIK, Media, KFOR, Police (UN and local), International Liaison Offices, etc.);
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The 2005 state of KEK - T & D DivisionThe 2005 state of KEK - T & D DivisionInternal EnvironmentInternal Environment
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Education ID
Emergence of private universities without a clear needs assessment of the energy sector;
Lack of practice amongst students of the public university;
Lack of direct cooperation between KEK and Universities;
KEK had a good knowledge base, when it comes to the operation and maintenance of the old equipment;
KEK lacks skills and knowledge for operation of the new equipment;
Knowledge ID
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Balanced ScorecardBalanced Scorecard
Adopt in a changing external environmentin order to remain a successful participant
in the upcoming deregulatedenergy market
Costs InternalBusiness
Process (HR)
Learning &Growth
(Education)
Regulations
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New Entrepreneurship New Entrepreneurship ITSMOITSMO
• Innovation – doing new things
– Six Groups were created:
1. Human Resources Group• Interim organization chart, Interim staffing plan, Plan for Human
Resources needs, Identify gaps in capabilities, Identify and select of staff to be split between Transco JSC and KEK JSC, Transfer of staff, Hire missing staff
2. Financial Group• Create an economic model of Transco JSC, Prepare preliminary
budget/cash flow forecast for Transco JSC, Open bank account in name of Transco JSC, Determine start-up working capital requirements, Deposit funds
3. Tariffs Group• Start-up costs, Set provisional tariffs to be paid by KEK J.S.C to
Transco J.S.C, Fund sharing agreement
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New Entrepreneurship New Entrepreneurship ITSMO, cont.ITSMO, cont.
• Innovation – doing new things
– Six Groups were created:
4. Commercial Group• Draft service agreement between KEK JSC and Transco JSC on
IT and other shared services, Draw up contract / agreement between KEK JSC and Transco JSC for the hand over, KEK JSC and Transco JSC shall establish standards and metering devices at power plants and distribution grid level, at the separation between generation, transmission and distribution, Interim Commercial agreements of KEK JSC and Transco JSC on metering, hand over points, ancillary services, maintenance confidentiality.
5. IT Group• Identify Software, Licenses and other property out of List of
Transco JSC Assets, Plan for IT, metering and financial management needs
• KOSTT is in the process of application for ENTSO-E membership
– TSO organization established under the 3rd package (EU directives and Regulations for Energy – is approved on 2009 and is applicable from 03.2011)
– Currently member of Regional Market Working Group (this group within ENTSO-E)
• Member of SECI (South East Cooperation Initiative) Group
• Active participation in the Energy Community activities
• Integration in all cross-border mechanisms
– Signed the MoU for establishment of regional office for coordinated allocation of transmission capacities (CAO – Coordination Auction Office) – December 2008
• Integration in Regional Electricity Market - initial discussions
– Opportunities for market participants to trade on regional level bilaterally & centralized
– Trade with lower procurement costs & lower congestion costs