We have lost the meaning and power of a word, of an idea, that has been central to the success of the Western world for two centuries or so. That word is entrepreneurism. It is probably more alive in Asian countries today that in North America.
Enterprises that recover the meaning have a great future ahead of them, no matter what their size. Organization itself will become a competitive advantage for those who develop it throughout their enterprise. Koch Industries has become the most successful privately owned company by the simple approach of organizing for innovation, for learning and development, for an entrepreneurial business model that organizes for growth and contribution. This is what Charles Koch attributes his enterprise’s amazing success to. It is worth considering.
Entrepreneurism a term equivalent to emergent evolutionary mechanisms in the field or biological entities. It implies being organized to adapt to the environment and to adapt the environment, or in our case, the marketplace to ourselves.
Entrepreneurism is an attitude which is seen in the drive to discover better uses for the productive resources of a social system. That is, finding better uses for raw materials, for labour, scientific discoveries and anything else that is seen to be scarce. The drive for profit can be realized in only two ways. One of those ways that applies in all cases is to discover possibilities for increasing value to the marketplace before others. The other way, which is in conflict with the marketplace approach and leads to social losses, is to gain government favour in comparison to ones competitors.
The drive for profit in the first manner, will contribute most to society.