Musings on Entrepreneurship and Innovation
Thursday, April 29, 2004The Source of Entrepreneurial Genius
We seek the extraordinary - the "most important" factor - because it promises a simple solution to our economic problems: If we can just identify the "X" factor, we can go get some of it. In spite of ourselves, we constantly seek the silver bullet, knowing all the while that our quest is vain. Time is precious; so, we are tempted by the possibility of a shortcut. That's because the identification of subtle differences in learning capabilities and the dynamic balancing of seemingly ordinary resources among management teams, within companies, and among organizations can seem wickedly difficult. And, it's difficult because context matters. There is no magic wand. Even so, there is hope. If, as aspiring entrepreneurs and entrepreneurial support organizations, we pay attention to the foundational roles of learning and complementarity, we improve our chances for success.
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Why Rural Communities Cannot Succeed Economically...
Rural communities lag economically because they are insulated from the change that is the source of entrepreneurial opportunity. Geographic isolation plays a role, but only to the extent that it contributes to parochialism. Technology is no panacea—it can reinforce parochialism as well as mitigate social isolation. Economic success in rural areas requires a long-term commitment to attitudinal and behavioral change. Unfortunately, well-intended programs and subsidies can undermine the requisite cultural shift and stifle entrepreneurship. In short, the odds can be beaten—but the deck is stacked.
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