A site for recollection and reemphasis of entrepreneurship and sound business practice. A compilation of both theory and practice of business entrepreneurship. The author is both a practicing businessman and former academic
Every generation needs a revolution - an entrepreneurial revolution
Fired from the companies they founded!? Not for a cause.
Some of them: Steve Jobs, Elon Musk, Uber founder.
These are not isolated cases. This may happen everywhere. To many founders?!
It happened to me twice: first in a financial institution and second in family corporation that owned subdivisions, memorial park, commercial complex, financial institutions. The engineers of the coup are now gone.
Caused by power struggle, politics, envy. Especially if the company is doing well.
Every generation needs a revolution - an entrepreneurial revolution
One of the aspect of critical thinking is thinking out of the box. Not thinking traditionally commonly
One way is lateral thinking started by Edward de Bono.
So for instance, when the action/strategy is COLLECT, the branch is null option. Do not collect.
So for instance in a DUI, it could have been that the decision to have BAYAD CENTER and terminate the army of collectors who could abscond with the money, be held up and cause huge cost for the DUI. So instead of going house to house to collect, customers will be forced to pay to the business offices, bayad center. Smart eh.
Same for bricks and mortar store shifting to online selling We have employed this in selling. We get more sales when we have STOP SELLING ORDER
So for a frozen food company, when they wanted to expand, they employed do not expand. So instead of having cap ex for new plants and equipment, they just networked with other food processors, piggybacked used their brand and supply chain. Expansion without expanding physically
Every generation needs a revolution - an entrepreneurial revolution
We often are mystified by the miracle of economic development of neighboring countries. With no extractive wealth resources these countries managed to be richer than most of other nations.
But they did with much help from friends. US helped Japan by encouraging it to manufacturing goods and exporting the same to US. Korea survived postwar with aid from USA sometimes up to 80% of Korean budget and entering into huge contracts with US companies for outsourcing. China grew big because of outsourcing of cheap products for US retailers. Taiwan industrialized when under Japan. It developed its agriculture when it exported food to Japan
We are glad that PHL on its own step by step grew on its own. By trial and error.
