CAPITALISM is an economic system characterized by:
• private or corporate ownership of capital goods, rather than by a centralized state
• investments that are determined by private decision, not by a centralized state, and by …
• prices, production, and distribution of products and/or services that are determined primarily by competition in a free market
What is an INNOVATOR?
Someone that solves problems for society and creates more benefits for society than what it costs them to acquire them.
CUSTOMERS – pay INNOVATORS to solve important problems for them.
CONSUMERS – pay CUSTOMERS to supply INNOVATIONS to them from the INNOVATORS.
BENEFICIARIES – use INNOVATIONS, but they do not pay for them … usually, supplied by a non-profit or social enterprises.
I asked 30 people what they perceived as the REAL FOCUS of CAPITALISM WAS ... THEY SAID PROFIT ... THEY ARE WRONG ... THAT'S A RESULT ...
What is the REAL FOCUS of CAPITALISM?
· From the INNOVATOR’S perspective – To CREATE AND SUPPLY VALUE (benefits) to SOCIETY (customers, consumers, or beneficiary) LESS THAN what it costs them to do so … at acceptable levels of PROFITABILITY … THEY SUPPLY BENEFITS < COST TO SUPPLY THEM.
· From SOCIETY’S perspective (customer, consumer, or beneficiary) – To ACQUIRE VALUE (benefits) GREATER THAN what is costs them to acquire them … THEY OBTAIN BENEFITS > COST TO ACQUIRE THEM.
Where does CAPITALISM start?
With an INNOVATOR becoming aware of a problem experienced by members of society (customers, consumers, or beneficiary).
How do you know if you THINK LIKE an INNOVATOR?
You see problems all the time and you wonder how to solve them.
How do you know if YOU ARE an INNOVATOR?
You are an excellent problem-solver and implementor … you don’t let over–analysis get in the way of a good-enough solution ... you know you can always improve the solution offered.
Want to learn how to be an INNOVATOR?
Learn formal methods to identify, understand, and solve problems … become an excellent problem-solver … adopt an autonomous, team-based, action-oriented approach to conducting business that does not let “perfection” get in the way of “better.”
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