The Value Creators Podcast Episode #45 – Embrace the Hyper-Entrepreneurial Era: Creating Innovations to Serve Customers’ Needs (Working On Purpose Podcast Repost)
This episode is a repost from The Working On Purpose Podcast
Capitalism comes in for criticism, despite the fact that this economic system has resulted in substantially increasing global per capita income over the centuries, spurring economic growth and progress.
Critics often criticize a kind of Aberrant Capitalism, one that is dominated in their minds by corporations, whose behavior is not always meritorious.
But from the earliest times, it was Customer Capitalism, not corporate capitalism, that was the driver of individual prosperity and thriving. Companies such as Wedgwood & Bentley of Wedgwood China fame (founded 1759) set the original precedents by prioritizing customer needs and innovation, laying the foundation for contemporary business practices. The advent of these corporations facilitated large-scale entrepreneurship, promoting innovation and efficient responses to customer demands.
Entropy has set into the capitalist system since the founding days, and there is some corporate behavior that needs reform. Dr. Alise Cortez is attentive to these concerns. We discussed the prospects for a revival of customer capitalism