Multiple forms of Entrepreneurship, Business and Organizations
There are many models of individuals and organizations to with motives ranging from income generation to serving society. Some of the common term used are:
- Non Profit Organization
- Social Entrepreneurship
- Old system of Business with single owner
- Shop Keepers
- Digital Entrepreneurs
- Solopreneurs and many more
It is seen that, these many terminology confuses beginners as they are new to this and struggle a lot to define their model.
Simplifying the Concept
Person who is going to start something should start with assuming that there is a SYSTEM which is made up of many sub systems to fulfill number of expectations.
Expectations from the System
Person or group of people who are creating the system have certain Expectations from the system, for example:
- Earning money
- Serving Society
- Become famous
- Do something Big
- Life Sustenance etc.
In real life, mix of exactions exist in every organization.
Every system is having many sub systems. Some of those sub systems are:
- Human Resources
- Legal Framework etc
All these components have some Requirements, for example:
- Human resource would need salary, office space to sit
- Communication channel or long distance interaction
- Customer/Stake holders interface etc.
Hence there is requirement of finance, physical Infrastructure, IT Infrastructure etc.
Connecting the dots
Hence with simple vocabulary of System, Expectations, Sub-systems, Requirements every individual and organization model can be defined easily. Lets take some of the examples:
- Business – System with major expectation of earning money. Hence earning model is such that earning is much more that requirements of the system. Although all business are there to solve some problem, but business may or may not serve the society as such.
- Social Entrepreneurship – System with expectation to serve the society. Hence earning model is such that it primarily fulfill the requirement of system. Further income is kept to expand the organization further to serve more and more people.
- NGO – System with primary focus or serving the society. Here requirement of sub system are fulfilled primarily through donation from others.
And similarly we can define other business and individual models also.
Step By Step Approach:
Besides trying to name the System initially, one can think of defining the System, Expectations, Sub-Systems, Requirements first. Once these things are defined, then one should look for strategy to achieve the goals by keeping in mind the expectations and requirements.
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