{"id":18518,"date":"2011-10-01T17:57:34","date_gmt":"2011-10-01T17:57:34","guid":{"rendered":"http:\/\/faisalhoque.com\/?p=1415"},"modified":"2011-10-01T17:57:34","modified_gmt":"2011-10-01T17:57:34","slug":"the-exogenic-factors-for-entrepreneurs","status":"publish","type":"post","link":"https:\/\/staging.frameroinfotech.com\/fh\/the-exogenic-factors-for-entrepreneurs\/","title":{"rendered":"The Exogenic Factors for Entrepreneurs :: Creating Sustainable Socio-Economic Growth Applying Accessible Technologies"},"content":{"rendered":"<p>Published in <a href=\"http:\/\/smartblogs.com\/leadership\/2011\/11\/23\/7-steps-to-creating-a-transformative-and-innovative-company\/\"><em>SmartBlog on Leadership<\/em><\/a>, November 2011<\/p>\n<p><strong>Leading this pact is the key mandate for us \u2014 the entrepreneurs today. And it has never been more important \u2014 no matter what business we are in!<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignright size-medium wp-image-1435\" title=\"Road Ahead\" alt=\"\" src=\"http:\/\/gator1654.hostgator.com\/~fhoque\/wp-content\/uploads\/2011\/10\/Road-Ahead-300x225.jpg\" width=\"300\" height=\"225\" \/>At no time in history has civilization been in such a state of foment. To no one\u2019s surprise, the economic principles set forth by Adam Smith in <em>The Wealth of Nations<\/em> 235 years ago no longer work. Nation-states are going bankrupt. Governments and political parties seem incapable of performing their appointed work for their peoples. Despots and regimes are being overthrown right and left. Social behavior, the very basis for human interaction, is itself undergoing massive change.<\/p>\n<p>The unemployed seek jobs that no longer, and may never again, exist. Businesses find themselves in tooth-and-nail struggles to survive. Nations vie with one another for solvency from one bubble to the next. Meanwhile, technology advances at an unprecedented pace, dynamically changing energy, medicine, the military, transportation, and other sectors, making it difficult to stay abreast of its powers.<\/p>\n<p>Globalization and the transformative power of access to enabling technologies has made the prevailing cause-and-effect narrowness of traditional economic theory outdated, and more enlightened views must be applied to solve the complex issues we globally face today.\u00a0 For example:<\/p>\n<ul>\n<li>26-year-old author Amanda Hocking, rejected by a multitude of publishers, self-published her novels and promoted them using Facebook, Twitter and blogs. After two years of diligent self-promotion from her living room in Minnesota, she earned $2 million. In January, 2011, alone, she sold $417,152 worth of e-books just from the Amazon and Barnes &amp; Noble websites.<\/li>\n<li>Photovoltaic power cells were invented in the U.S., but China is now the world\u2019s largest producer, manufacturing over 23 percent of the world\u2019s supply. China is setting a green, sustainable-energy example for the world in planning to increase its use of solar power <em>fivefold<\/em>, to 20 gigawatts, by the year 2020. China\u2019s transformative policy of supporting green power grows ever stronger.<\/li>\n<li>Third-world nations\u2019 growth and development in the 20<sup>th<\/sup> century were once measured in decades. Now, with the deployment of digital technologies, they are able to transform themselves in just months or years into productive members of the international commercial society.<\/li>\n<\/ul>\n<p>Today\u2019s entrepreneurs need to question and rethink each thing we do and every institution \u2014 social, governmental, business, education, healthcare \u2014 leaving no stone unturned, and asking <em>Why<\/em>? What\u2019s working and what isn\u2019t? <em>Why<\/em>? For example, why do we use GDP as a measure of the nation\u2019s productivity? Why determine the strength of the economy solely on what consumers buy? What\u2019s the transformative power of innovation and creativity? How do we create <em>sustainable progress<\/em>?<\/p>\n<p>&nbsp;<\/p>\n<p><strong>The Exogenic Factors<\/strong><\/p>\n<p>The term <em>transformation<\/em> originated with biology and genetics. In short, biological transformation refers to the introduction of something <em>exogenic<\/em> that can change the essential nature of a cell. Its purpose is to invoke change. The transformative process is nearly identical for every organization today: introduce a new goal, add the variable (exogenic factor), and transform it into creativity and innovation.<\/p>\n<p><em>Transformation is driven by an acknowledged need to grow and change, followed by thinking differently about the old ways and means. <\/em><\/p>\n<p>It is one of the steps to creating a transformative and sustainable organization. It can be modeled, documented and implemented as a total game-changing process. At a high-level, the steps can be defined as:<strong><\/strong><\/p>\n<ul>\n<li>Human nature is driven by <strong><em>wants<\/em> and\/or <em>needs<\/em><\/strong><\/li>\n<li>We develop <strong><em>strategies<\/em> to evolve <em>tactics<\/em><\/strong> to turn those wants and needs into goals<\/li>\n<li>With tactics in place, we can formulate a <strong><em>plan<\/em>, or <em>call to action<\/em><\/strong><em> <\/em>to achieve the goals<\/li>\n<li>The plan, or call to action, involves setting personal or <strong>business <em>objectives<\/em> <\/strong>and determining the most appropriate technologies with which to implement them<\/li>\n<li>When the business objectives are combined successfully with the appropriate technologies, the result is <strong><em>convergence<\/em>, <\/strong>the seamless merging of both to attain goals<\/li>\n<li>Convergence makes it possible to create<strong><em> a viable economic model applying enabling technologies<\/em><\/strong>, essential in the process of satisfying the wants or needs<\/li>\n<li><strong>Transformation<\/strong> occurs when the individual or enterprise has successfully embarked upon on the new course to achieve its goals<\/li>\n<\/ul>\n<p>Those completing this process are now positioned not just to survive, but to <em>progress and<\/em> <em>thrive<\/em>. The process is repeatable \u2014 in fact it loops \u2014 continually transforming actions through the use of powerful enabling technologies into creative, innovative, and sustainable goals and outcomes.<\/p>\n<p>It is clear that new enabling technologies demand new economic models and ways of thinking about problem-solving.\u00a0 And it is one of the key drivers for today\u2019s entrepreneurship \u2014 the exogenic factors.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Change, Innovation, Sustainability and Progress<\/strong><\/p>\n<ul>\n<li><strong><em>Change<\/em><\/strong> is the key factor in achieving personal and\/or organizational goals. Without change there can be no progress.<\/li>\n<li><strong><em>Innovation<\/em><\/strong> is the vital ingredient in the individual or institution\u2019s ability to make effective and practical use of change. It is the great <em>what if<\/em> factor in decision-making and the entity\u2019s <em>raison d\u2019etre<\/em> to move forward and stay abreast of the turbulent and constantly changing times.<\/li>\n<li><strong><em>Sustainability<\/em><\/strong> is the manifestation of health and growth, but also diversity: indeed, it is made up in large part of change and innovation.<\/li>\n<\/ul>\n<p>This trinity of objectives for a fulfilling life and meaningful economic, institutional and social progress represent the most sought-after attributes of individuals and organizations. They rest upon the foundation of converged objectives and the inherent transformation from the outdated to the new and more productive ways.<\/p>\n<div>\n<p>&nbsp;<\/p>\n<p><strong>Today\u2019s Entrepreneurs\u2019 Mandate<\/strong><\/p>\n<\/div>\n<p>A long time ago, management guru Peter Drucker said:<\/p>\n<p><em>\u201cIndeed the modern organization (beginning with the Jesuit Order in 1536) was expressly created to have results on the outside, that is, to make a difference in its society or its economy.\u201d<\/em><\/p>\n<p>The implicit \u2014 and explicit \u2014 expectation is that institutions should \u201cdo good\u201d for others: The ultimate objective is to produce a wellspring of new ideas, profound change, dynamic innovation, and sustainable opportunities.<\/p>\n<p>Leading this pact is the key mandate for us \u2014 the entrepreneurs today.\u00a0 And it has never been more important \u2014 no matter what business we are in!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Leading this pact is the key mandate for us \u2014 the entrepreneurs today. And it has never been more important \u2014 no matter what business we are in!<\/p>\n","protected":false},"author":1,"featured_media":12012,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[546],"tags":[547,548,549,516,550,551,552,553,554],"class_list":["post-18518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-blogs","tag-change","tag-convergence","tag-entrepreneur","tag-faisal-hoque-2","tag-innovation","tag-strategies","tag-technologies","tag-the-exogenic-factors","tag-transformation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Exogenic Factors for Entrepreneurs :: Creating Sustainable Socio-Economic Growth Applying Accessible Technologies<\/title>\n<meta name=\"description\" content=\"Leading this pact is the key mandate for us \u2014 the entrepreneurs today. 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