The need for Enlightened Entrepreneurship
My mission with LearningEntrepreneurship.com is to promote what I call “enlightened entrepreneurship.” I didn’t coin the phrase I’m sure, but here is my definition.
Enlightened entrepreneurship: business leadership that recognizes that doing better for the business also means doing better for employees and their families, for customers and suppliers, for communities and the planet. Enlightened entrepreneurship manages a business to achieve its economic objectives while also recognizing and meeting its social responsibilities.
The expectation may be hopelessly ambitious or naïve, but I believe it is in fact the only way to build and grow a long-term sustainable business. We should expect nothing less. If the entrepreneur is focused only on making money, then the consequences for everyone, including the entrepreneur, are likely to be very negative. Growing a business is never as simple as making short-term profits. (Mistake #4 of the Seven Biggest) It requires looking at the bigger picture and managing assets and resources to support long term business value.
Enlightened entrepreneurship is not a moral or ethical imperative, it is simply good business management. It’s not a new idea, it’s just a logical extension of the principles of building sustainable long-term value in a business by continuously satisfying all the stakeholders – employees, customer, suppliers, shareholders, governments and local communities. Ultimately, they will decide whether they are willing to support you in making your business succeed. It is never entirely up to you.
So start thinking “enlightened entrepreneurship”. There is no other way that works.
Read more at: Learning Entrepreneurship Blogs…
Your Uncle Ralph,
Visit also: LearningEntrepreneurship.com:
- The Seven Biggest Mistakes and How to Avoid Them
- Find the Exit before it's an Emergency
- Deciding When to Launch Your Business
- The Four P’s of Salesmanship: “You wanna buy a book?”
And check out two new books by Uncle Ralph, "Don't Do It the Hard Way" and "The Complete Do-It-Yourself Guide to Business Plans." available online or at your favourite bookstore. To learn more or buy a copy: Click here