“What counts in life is not the mere fact that we lived – it is what difference we have made to the lives of others that determines the significance of the life we lead.” Nelson Mandela
An adverse attitude towards entrepreneurship exists because a common perception is that those who start or own businesses are greedy and love money. There is an inaccurate perception that entrepreneurs seek to maximise profits for their benefit only. This article demonstrates the benefits that accrue to the various stakeholders from entrepreneurship. Entrepreneurs are problem solvers and help solve problems for the benefit of many stakeholders. In business we recognize the following stakeholders: the entrepreneurs and their families, the employees, customers, investors, industry and commerce, the community, government and the national economy. Many people fail to pursue their dreams because they fear being labeled greedy and selfish.
Entrepreneurship delivers the following benefits to various stakeholders:
- Creates new technologies, products and services that increase customer choice and enrich society.
- Transcends societal inequities
- Enhances awareness and knowledge of new products and services through aggressive and informative marketing campaigns
- Creates niche markets to service the unmet needs of certain sections of society
- Through philanthropic ventures, supplements the public purse for society’s benefit
This week I intend to show the greater good that comes out of responsible entrepreneurship. I will be posting articles coming from my latest book Entrepreneurship on Trial which is available as hard or soft copy from www.lulu.com