V is for Value

Posted by Pierre de la Fortune on September 22, 2015 @ 12:01 a.m.

Written by Peter Baskerville and Dr. Neil Flanagan

Unlike their other commercially engaged counterparts, the entrepreneur’s primary goal in their commercial endeavour is to add value. As President Ángel Cabrera, Ph.D [13] declared to an audience of entrepreneurs in Phoenix in October 2008 concerning the ‘other’ approach “Their focus is on extracting value, not creating value,” Cabrera said. “If they can pay their employees less or treat them worse to improve the bottom line, then that’s what they do.” He went on to then say “You (entrepreneurs) are obsessed with creating value.”

As discussed in the introduction, both approaches outlined by Cabrera make money, but each approach is adopted with a quite different mind-set. The entrepreneur makes their money by taking a slice of the added value that they create for their customers via their innovative products and services. To take Cabrera’s words further – “You (entrepreneurs) are not looking at your business venture as a way of extracting value away from others”. Unlike other operators in the field of commerce, entrepreneurs are not in the business of ripping people off.

"There is a vast difference between exploiting an opportunity and exploiting a weakness. The former adds the latter takes" PB

For more info please visit:http://knol.google.com/k/characteristics-of-an-entrepreneur#view

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