A strange strand of thought has emerged in European political economy circles that has been given the name of The Entrepreneurial State. The headline claim is that the state (i.e., nation state governments) can and should intervene in the economy to bring about innovation.
Entrepreneurship is not all venture capital and start-ups. It’s a commitment to create value for other people, and to earn the rewards of doing so, social, psychic, and financial. The entrepreneurial world is a loving world.
The increasing adoption of systems thinking in business tells us that the world is changing very fast, and companies need to change at least as fast as their environment in order to thrive.
When the financial sector grows faster than the real economy, it damages overall productivity and diverts business investment away from serving customers.
Innovation in organization is at least equal in importance to technological innovation and product / service innovation. It tends to get less attention, which is a great opportunity for imaginative entrepreneurs to implement change for competitive advantage.
The task of creating new customer benefits may feel overwhelming. It’s a tough ask for any business innovation team. But if you turn the telescope around and look for barriers to value you can remove, you might find that subtraction is easier that creation, and generates just as much new customer value.