Contrary to traditional belief, entrepreneurism is not just about making money, nor is it merely about starting up a venture or owning a small business — it is a way of life, applicable to all human economic activities. Living on a planet with finite resources, humanity is sustainable only if there is constant pursuit of innovation and creativity, not just for personal gain but also for the common good.This book provides concise definitions of ‘entrepreneurism’, ‘entrepreneurship’, ‘entrepreneur’ and ‘entrepreneurial’ for education and application within the framework of the market economy; acts as a signpost pointing the way toward balancing the short-term need for survival with the long-term need for sustainable growth; and serves as a philosophical beacon that will guide individuals, particularly, business leaders, toward actions in the interest of humanity.
The continuation of global poverty is inextricably entwined with the fundamental philosophy of the market economy. It is driven by the individual's neverending desire for ?profit?, leading to a critically imbalanced distribution of resources. As an entrepreneurial initiative, this book advocates a shift in the responsibility for relief of poverty away from the government to the private sector, and in particular to corporate entities. The concept of the ?residual? is used as the cornerstone of business operations and wealth distribution. Corporate decision-makers, while making proprietary decisions for resources allocation, must assume stewardship responsibility and be accountable not just to financial investors but to all contributors of the corporate entity.
Contrary to traditional belief, entrepreneurism is not just about making money, nor is it merely about starting up a venture or owning a small business -- it is a way of life, applicable to all human economic activities. Living on a planet with finite resources, humanity is sustainable only if there is constant pursuit of innovation and creativity, not just for personal gain but also for the common good. This book provides concise definitions of 'entrepreneurism', 'entrepreneurship', 'entrepreneur' and 'entrepreneurial' for education and application within the framework of the market economy; acts as a signpost pointing the way toward balancing the short-term need for survival with the long-term need for sustainable growth; and serves as a philosophical beacon that will guide individuals, particularly, business leaders, toward actions in the interest of humanity.
The continuation of global poverty is inextricably entwined with the fundamental philosophy of the market economy. It is driven by the individual's neverending desire for ?profit?, leading to a critically imbalanced distribution of resources. As an entrepreneurial initiative, this book advocates a shift in the responsibility for relief of poverty away from the government to the private sector, and in particular to corporate entities. The concept of the ?residual? is used as the cornerstone of business operations and wealth distribution. Corporate decision-makers, while making proprietary decisions for resources allocation, must assume stewardship responsibility and be accountable not just to financial investors but to all contributors of the corporate entity.
Capitalism has resulted in stupendous growth and prosperity in the Western world, underlining its importance as an engine for creation and innovation. Communism arose to counter capitalism's ills as a method of wealth distribution, as manifested through the increasing gap between the rich and poor even in the most prosperous nations. Yet no country is either truly capitalist or communist, and the simplistic polarization of the world into two camps ignores the vital importance of systems that promote both innovation and equitable distribution. This book offers an insightful discussion on the ills that capitalism and communism have meant to address, and the pitfalls of the two approaches, most importantly with regards to the misconceptions of “profit”, the misfit child of economics and accounting. Analysis is also extended to consider behavioral theories from a needs perspective, including marginal theory and behavior based on fear. Finally, the concept of the new, “middle way” of entrepreneurism is advocated, in which the voices of all stakeholders (including the environment and the earth itself) are considered in any endeavor, thereby addressing the iniquities in distribution, while emphasizing the creative and innovative needs of all individuals.
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