Science is method for systematizing knowledge.
Sustainable means being able to continue over time, either by developing, enhancing, or maintaining the current state, or by changing it.
Advantage means favorable, superior, and beneficial.
An enterprise is a group of activities intended to produce income organized for:
- Profit as a business of any type and size
- Not-for-profit association
- Goverment agency
A sustainable enterprise employs three criteria in all decision making - are both the mindset and intended actions responsible...:
- Environomentally?
- Economically?
- Socially?
...so as to meet the needs of both current and future generations, and gain a beneficial position in the marketplace that will continue over time.
Vision: inspirational statement of a future state (reasonably achievable) within the context of a longer-term aspiration (dream).
Value: worth and/or useful.
Performance excellence means first doing the right thing, and then doing it well.
Enterpreneurship is the competency required to start, develop, and assume risk for an enterprise; intrapreneurship is the competency required to foster a culture of change within an enterprise and to keep it sustainable over time.
Leadership is the competency required for setting direction that others will follow.
Management:
- As a competency: the practice of directing and controling events and activities
- As a role: those with authority and responsiblity for directing and controlling the events and activities of an enterprise
An entrepreneur is an individual who organizes, operates, and assumes risk for an enterprise with the intention of transforming innovative ideas into products and/or services for profit.
An intrapreneur is an agent of change within an enterprise who takes the risk to transform an innovative idea into value.
A lifestyle business enterprise owner is an owner of an enterprise in a local commuity (who may also be the founding entrepreneur) - otherwise referred to as a lifestyle enterprise owner.
An executive is a member of the top line of management of an enterprise with major areas of authority and responsibility.
A manager is a member of the management team.
Established:
- First stage - founded and organized
- Second stage - stabilized - predictable patterns become apparent
- Third stage - permanent - enhancing or maintaining the current position or changing it
An entrepreneurial enterprise is:
- Not yet fully established as an ongoing concern
- Has to rely upon external capital as opposed to bootstrapping to finance future growth (early to late stages)
- ...and is either in the emerging or growth stages of development (or decline stage, if it cannot institutionalize)
An institutional enterprise is:
- Established
- Stable - predictable constituency patterns emerging
- Is becoming permanent as a consequence of product institutionalization
- Becoming, is, or was an ongoing concern
- In the growth or maturity stages of development (or decline stage, if it cannot remain an ongoing concern)
An intrapreneurial enterprise is an institutional enterprise that innovates internally.
Product/enterprise institutionalization
- Becoming a permanent feature within society
- As defined by the constituencies within the marketplace
- Regardless of whether the founding entrepreneur or lifestyle enterprise owner stays or not
Sustainability - being able to provide for current generations without damaging the ability of future generations to provide for themselves.
Constituencies are the parties with whom an enterprise has relationships.
Primary relationships:
- Employees
- Customers
- Suppliers
- Investors
Secondary relationships:
- Regulators
- Competitors
Community-at-large
Permanence (in the context of enterpriship): the ability of the enterprise to generate income on an ongoing basis.
Change within permanance: maintaining permanence by enacting change.
Building Sustainable Advantage From Vision to Value means:
- Being environmentally, economically, and socially responsible
- Meeting the needs of both current and future generations
- Gaining a beneficial position that will continue over time
- Acheiving performance excellence
from the creation of a vision to the delivery of the resulting value on an ongoing basis.