The weight of researched evidence demonstrates that the ability to practice successful innovation contributes more to corporate profitability than the combined effects of productivity improvements in the traditional areas of labour and capital. This has been known and reinforced by growing evidence since 2004. Yet, many organisations remain hazy in the definitions they apply to such key terms as ‘innovation’, ‘entrepreneurship’, ‘opportunity evaluation’, ‘business model’ and ‘business plan’. And they often don’t know how to pursue these activities systematically and cost effectively. MENTREG solves the problem. Our consultancy is built from five core elements.
Establishes the fundamental definitions of and relationships between ‘innovation’, ‘entrepreneurship’ and opportunity evaluation. We call this the ‘value creation trinity’.
This is a succinct, generic model of the fundamental activities that characterise every entrepreneurial process. Based on analysis, refinement and development of the more than thirty alternative but unsatisfactory models that proceeded it the MEP is state of the art. It is easy to understand and use.
The BEC is research based, software assisted program licensed via the internet for evaluating existing businesses and new opportunities. It also offers a comprehensive, virtual course in understanding and using the concepts and constructs of innovation and entrepreneurship.
Context is critical. The world’s best doctor can’t operate in a bombed hospital. What may be ‘the world’s best’ business plan, or system or project in the context of an affluent Western developed economy may not work in an Indigenous community, a disadvantaged region or a hostile culture. There is a research based diagnostic framework for anticipating and embracing the ways in which community factors affect entrepreneurial process. MENTREG consultants are experts in applying it.
The four frameworks at the heart of our practice do not constrain our approach: they liberate it. Precision of definition and clarity of structure are totally conducive to developing a unique, focused relationship with every client.