logo
Can start-up success be taught?

Can start-up success be taught?

Straits Times5 days ago

Harvard Business School in the US state of Massachusetts. Demand for teaching in how to run a start-up is rising, prompting many universities to launch new courses. PHOTO: REUTERS
On paper, tech entrepreneur Evan Moore seems a good advertisement for business degrees. While at Stanford's Graduate School of Business, he co-founded DoorDash, the US food delivery group now valued at more than US$70 billion (S$90 billion) and expanding fast, including through its agreed takeover of the UK's Deliveroo.
Yet he has a frank admission about his time in education: 'Nothing I learnt at business school had anything to do with starting a business.' The reality, he says, is that 'while a number of incredibly successful founders and executives have gone to the top business schools, none are great because of the business school they went to'.
Check out the Headstart chatbot for answers to your questions on careers and work trends.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

askST Jobs: What to do when you are passed over for a promotion in favour of a new hire
askST Jobs: What to do when you are passed over for a promotion in favour of a new hire

Straits Times

time2 hours ago

  • Straits Times

askST Jobs: What to do when you are passed over for a promotion in favour of a new hire

Learn all you can from your new boss as you chase a second wind. ST ILLUSTRATION: LEE YU HUI askST Jobs: What to do when you are passed over for a promotion in favour of a new hire Manpower correspondent Tay Hong Yi offers practical answers to candid questions on navigating workplace challenges and getting ahead in your career. Get more tips by signing up to The Straits Times' Headstart newsletter. Q: I was passed over for promotion in favour of an external hire. Can I still hope for career progression? A: Many factors go into being promoted, so being passed over does not necessarily reflect your capability or potential, says Ms Aishah Jamall, senior consultant for commerce contract at recruitment firm Robert Walters Singapore. 'Instead of viewing the external hire as a competition, it could be an opportunity to reflect and identify areas where you can continue to grow,' she adds. 'What's more important is to always stay focused, seek clarity and further invest in your growth.' In today's rapidly changing landscape, where speed of transformation is critical, external candidates with relevant experience may be better positioned to execute initiatives quickly, notes Ms Linda Teo, country manager at ManpowerGroup Singapore. 'In contrast, an internal candidate may need time to develop the specific skills required for the new role.' Moreover, external hires can be seen as a way to allow a team to benefit from a different leadership style or ensure team members are supervised more objectively, unclouded by bias, Ms Teo adds. Ms Aishah notes: 'It's not always about who's better, but more about... complementing what's already there and helping the team move forward.' She adds that while it is natural to feel emotional and consider leaving after being passed over for a promotion in this context, it is often not prudent to resign right away. 'The existing team should take the opportunity to have an open conversation with their manager to understand why an external hire was brought in.' Team members passed over for the promotion can help secure their career progression by getting to know the external hire and understanding how he or she works, Ms Aishah suggests. 'This helps you see how their approach might differ from yours and gives insights into what might have worked in their favour,' she says. That said, employees should not give the impression that they are trying to appeal or argue against the decision to hire a new leader, even as they seek feedback, Ms Teo notes, adding: 'Apart from speaking to their manager, it may also be helpful for individuals to speak with a trusted colleague to gain another perspective. 'Employees are advised to maintain professionalism and a positive attitude with the new leader and their colleagues, as it is often beneficial for their long-term career trajectory.' She also encourages aspiring leaders to take initiative, contribute to the team and demonstrate a collaborative mindset. 'Demonstrating leadership through influence – such as mentoring peers, leading initiatives or contributing to team success – may also help build credibility and visibility. 'Additionally, gaining exposure to cross-functional teams or regional projects can broaden one's perspective and demonstrate versatility – qualities often valued in leadership roles.' Both Ms Teo and Ms Aishah suggest workers give the person who was hired to lead the team three to six months of settling-in time before deciding if he or she can be effective and whether quitting is the right option. Ms Aishah says: 'If the new leader shows signs of struggling, team members should take the initiative to seek clarity rather than jump to conclusions.' Ms Teo adds: 'This timeframe gives the leader an opportunity to understand team dynamics, align with the organisation's culture, and begin contributing meaningfully to strategic goals. 'During this time, team members can play a constructive role by offering support, sharing institutional knowledge, and helping the new leader navigate internal processes.' When deciding if quitting is viable, some points to consider include the availability of growth opportunities within the organisation, the work environment, and if there are external offers that align better with your long-term career goals, Ms Teo says. 'If, after discussion and reflection, the employee genuinely perceives limited growth potential and receives a compelling external offer aligned with their goals, making a move may be a well-considered next step.' Have a question? Send it to askst@ Check out the Headstart chatbot for answers to your questions on careers and work trends.

NATO agrees Hague summit statement with 5% defence spending goal, diplomats say
NATO agrees Hague summit statement with 5% defence spending goal, diplomats say

Straits Times

time6 hours ago

  • Straits Times

NATO agrees Hague summit statement with 5% defence spending goal, diplomats say

FILE PHOTO: The logo of NATO is seen at a meeting of the North Atlantic Council in the NATO defence ministers' session together with Sweden as the invitee, at the Alliance's headquarters in Brussels, Belgium February 15, 2024. REUTERS/Johanna Geron/File Photo BRUSSELS - NATO countries agreed a statement on Sunday for their upcoming summit that sets a goal of 5% of GDP for annual defence and security-related spending by 2035, overcoming objections from Spain, diplomats said. The statement has the green light from all 32 NATO members, diplomats said, but will only become official when it is approved by leaders including U.S. President Donald Trump at their summit in The Hague on Wednesday. Spanish Prime Minister Pedro Sanchez had blocked an earlier version of the text, saying that committing to a 5% target would be unreasonable and counterproductive. Spain spent 1.24% of GDP on defence in 2024, according to NATO estimates Diplomats overcame Sanchez's objections by adjusting the text on the spending pledge, changing the language from "we commit" to "allies commit", diplomats said. That allowed Sanchez to claim the commitment would not apply to Spain. "We fully respect the legitimate desire of other countries to increase their defence investment, but we are not going to do so," Sanchez said in an address on Spanish television Sunday. NATO operates by consensus so all of its 32 members have to approve a statement for it to be adopted. NATO officials argue that big defence spending increases are needed to counter a growing threat from Russia and to allow Europe to take on more responsibility for its own security as the United States shifts its military focus to China. The alliance's current defence spending target is 2% of GDP but Trump insisted it should rise to 5% - although he suggested on Friday that target should not apply to the United States. Under a plan by NATO boss Mark Rutte, countries would reach 5% of GDP by boosting their core defence spending goal from 2% to 3.5% and spending a further 1.5% on related items like adapting roads and bridges for military vehicles and cyber security. Rutte had originally proposed countries meet the new target by 2032 but the deadline in the final text is 2035, according to diplomats. There will also be a review of the target in 2029. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.

Spain agrees with NATO to skip 5% defence spending target
Spain agrees with NATO to skip 5% defence spending target

Straits Times

time6 hours ago

  • Straits Times

Spain agrees with NATO to skip 5% defence spending target

MADRID - Spain agreed with the NATO military alliance to be excluded from spending 5% of its gross domestic product on defence, Prime Minister Pedro Sanchez said on Sunday. "A 5% spending would be disproportionate and unnecessary," Sanchez said in an address on national television. "We fully respect the legitimate desire of other countries to increase their defence investment, but we are not going to do it," he said, adding Spain could meet all its commitments to NATO, in terms of staff or equipment, by spending only 2.1% of its GDP. Diplomats had said earlier on Sunday the 32 countries comprising NATO had agreed on a statement for the upcoming summit setting a goal of 5% of GDP for annual defence and security related by 2035 overcoming Spain's objection. In a letter sent on Thursday, Sanchez had told NATO chief Mark Rutte his country wanted to opt out of a new 5% spending target. The letter raised concerns that Spain would derail the whole summit. At an estimated 1.28% of GDP, Spain had the lowest proportion of expenditure on defence in the alliance last year, according to NATO estimates. Sanchez agreed in April to accelerate efforts to meet NATO's current target of 2% this year. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store