Live Author Talk: Innovation on Tap with Eric B. Schultz
By Alicia Morales
On August 18, 2020, the HBS Club and the Harvard Club of the Philippines, in collaboration with the Harvard Alumni Association for Asia Pacific, brought forth over 300 participants from around the globe and recreated the “Innovation on Tap” virtual barroom with an Asian flavor. The featured speaker was author Eric B. Schultz, HBS MBA 1983, who served as Chairman and CEO of Sensitech, a venture-backed business twice-named to the Inc. 5000 before being acquired by Carrier Corporation. He is also a CEO-partner with Ascent Ventures, Executive Chairman of HubCast, and an Advisory Board Member of the Avedis Zildjian Company.
The flow was concocted by Basil Ong HBS PMD 51 and moderated by Faye Corcuera HBS AMP 185.
“Innovation on Tap” is the story of 300 years of innovation in America told through the eyes of 25 entrepreneurs — living and departed — who have gathered to “talk shop” in an imaginary barroom under the watchful eye of economist-turned-bouncer, Joseph Schumpeter. The stories of these entrepreneurs — from Eli Whitney and his cotton gin, to Lin-Manuel Miranda in his Broadway smash “Hamilton” — illustrate the sweep and impact of innovation. From razor blades, insurance and baseball, to smart cities, online running communities, and cybersecurity, innovators across three centuries gather in an imaginary barroom to discuss the essential themes of entrepreneurship — Mechanization, Mass Production, Consumerism, Digitization, and Sustainability — while emphasizing and reemphasizing the importance of community to their success.
The brilliant presentation was followed by a highly charged exchange of ideas generated by a terrific panel of two Asian based global entrepreneurs:
Stan Szeto, Harvard YPO program, Executive Chairman and owner of Lever Style Inc. and Honorary Chairman of the Hong Kong Textile Council. Lever Style is a regional apparel manufacturing group for the digital age. It is a key product partner for e-commerce pioneers and serves premium global brands and designer labels.
Fred Mouawad, HBS MBA 1995, HBS Global Advisor for Asia Pacific. Fred is the 4th generation Co-Guardian of the Mouawad Group, a family jewelry business since 1890. As an entrepreneur, he founded Synergia One Group, Taskworld, SmarWork Media, Synova, and Global Franchise Architects.
Stan and Fred shared how they innovated and pivoted, following the needs of the market. Giving an Asian perspective, both Stan and Fred shed light on the six key ideas presented by Eric:
1) Thinking historically is a competitive advantage;
2) The business model is job #1 for an entrepreneur;
3) Solve the problem at hand and let the universe take care of itself;
4) Community is an entrepreneur’s superpower;
5) Know what business you are in;
6) Don’t fall for the dominant narrative.
Eric parted with these words: “Business model is the driver where you create a market. Stay close to the market. We all have weaknesses — people around will fill those holes. The people around you will make you a better entrepreneur.” The audience took with them cutting-edge concepts and invaluable insights on innovation and entrepreneurship.
It was an amazing session and certainly an hour well spent. Our gratitude extends to Carol Dominguez, AMP 182 HBS Alumni Board Member, Harvard Alumni Association for Asia Pacific Board Member; Raj Uttamchandani, HBS OPM 46; Lawrence Iliscupides, and to all the attendees who have made this event successful.
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About the author:
Alicia Rita L. Morales is the Managing Director of the John Clements Leadership Institute. Alicia has developed leadership programs for over 7,500 senior leaders and high potentials from leading multinationals and regional conglomerates in Southeast Asia. Concurrently, Alicia is the first woman Independent Director of publicly listed First Gen Corporation elected to the board since 2018. She is also an Independent Director of BPI Securities Corporation as of February 2020.
Previously, Alicia was the youngest Chairman of the Philippine Stock Exchange for two consecutive years and an active director for five years. She was then concurrently a Director of the Securities Clearing Corporation and a CEO of a top brokerage firm for nine years. Prior to that, she worked in Hong Kong for five years as Managing Director of a deposit-taking company in Hong Kong and a Director of an investment company. Before that, she was an Assistant Vice President for a subsidiary of a Southeast Asian conglomerate in Hong Kong, handling corporate finance and corporate banking accounts in Hong Kong, Guangzhou, Thailand and Indonesia for three years.
She garnered The Outstanding Women in Nation’s Service (TOWNS) award for the category ‘Business-Stock Exchange’ in 2004, and the Triple A Award from Maryknoll/Miriam College in 2014. She is a member of the International Coach Federation, a certified coach of Zenger Folkman, and a certified discussion leader of the Harvard Business School. Ms. Morales is a certified public accountant with a Bachelor of Science degree in Business Administration and Accountancy from the University of the Philippines (1984) and an MBA from the J.L. Kellogg Graduate School of Management, Northwestern University, with a triple major in Finance, Marketing and Economics (1990). She is also a graduate of the Advanced Management Program from the Harvard Business School (2014) and the President of the Harvard Business School Club of the Philippines (2018–2020).
