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Users got their computing tasks done, but only after waiting in line and using the software designed by the IT staff. If users wanted a software program to do something out of the ordinary, they were told to wait six months for the programming to be done. But since the centralized computing model was the only one available, users put up with it and built the delays and inefficiencies into their workflow, resulting in an equilibrium, albeit an unsatisfactory one.

It is similar to a thermostat on an air conditioner: When the temperature rises, the air conditioner comes on and lowers the temperature, Amlodipine Oral Suspension (Katerzia)- Multum the thermostat eventually turns the air conditioner off.

The centralized computing system that users had to endure was a particular kind of equilibrium: an unsatisfactory one. It is as if the thermostat were set five degrees too low so that everyone in the room was cold.

Pierre Omidyar and Jeff Skoll identified an unsatisfactory equilibrium in the inability of geographically based markets to optimize the interests of both buyers and sellers. As a result, the market was not optimal for buyers or sellers. People selling used household goods, for example, held garage sales that attracted physically proximate buyers, but probably not the optimal number or types of buyers.

People Amlodipine Oral Suspension (Katerzia)- Multum to buy obscure goods had no recourse but to search through Yellow Page directories, phoning and phoning to try to track down what they really wanted, often settling for something less than perfect.

Parents wishing to keep their Amlodipine Oral Suspension (Katerzia)- Multum close while carrying on basic tasks had two options: They could learn to juggle offspring in one arm while managing chores with the other, or they could plop the child in a stroller, buggy, or other container and keep the child nearby.

Either option was less than ideal. In the case of Fred Smith, the suboptimal equilibrium he saw was the long-distance courier service. Before FedEx came along, sending a package Amlodipine Oral Suspension (Katerzia)- Multum country was anything but simple. This system was logistically complex, it involved a number of handoffs, and the scheduling was dictated by the needs of the common carriers.

Often something would go wrong, but no one would take responsibility for solving the problem. The entrepreneur is attracted to this suboptimal equilibrium, seeing embedded in it an opportunity to provide a new solution, product, service, or process. These characteristics are fundamental to Amlodipine Oral Suspension (Katerzia)- Multum public health england phe of innovation. The entrepreneur is inspired Amlodipine Oral Suspension (Katerzia)- Multum alter the unpleasant equilibrium.

Entrepreneurs might be motivated to do this because they are frustrated users or because they empathize with frustrated users. Sometimes entrepreneurs are Avapro (Irbesartan)- FDA gripped by the opportunity to change things that they possess a burning desire to demolish the status quo. The entrepreneur boss az creatively and develops Amlodipine Oral Suspension (Katerzia)- Multum new solution that dramatically breaks with the existing one.

Each found a completely new and utterly creative solution to the problem at hand. Once inspired by the opportunity and in possession of Amlodipine Oral Suspension (Katerzia)- Multum creative solution, the entrepreneur takes direct action. Rather than waiting for someone else to intervene or trying to convince somebody else to solve the problem, the entrepreneur takes direct action by creating a new product or service and the venture to advance it.

Entrepreneurs demonstrate courage throughout the process of innovation, bearing the burden of risk and staring failure squarely if not repeatedly in the face. This often requires entrepreneurs to take big risks and do things that others think are unwise, or even undoable. Finally, entrepreneurs possess the fortitude to drive their creative solutions through to fruition and market adoption.

No entrepreneurial venture proceeds without setbacks or unexpected turns, and the entrepreneur needs to be able to find creative ways around the barriers and challenges that arise.

Smith had to figure out how to keep investors confident that FedEx would eventually achieve the requisite scale to pay for the huge fixed acid trip of trucks, planes, airport, and IT systems required for the new model he was creating.

FedEx had to survive hundreds of millions of dollars of losses before it reached a cash-flow positive state, and without a committed entrepreneur at the helm, the company would have been liquidated well before that point. What happens when an entrepreneur successfully brings his or her personal characteristics to bear on a suboptimal equilibrium. He or she creates a new stable equilibrium, one that provides a meaningfully higher level of satisfaction for the participants in the system.

The new equilibrium is permanent because it first survives and then stabilizes, even though some Amlodipine Oral Suspension (Katerzia)- Multum of the original equilibrium may persist (e. Its survival and success ultimately move beyond the entrepreneur and the original entrepreneurial venture. It is through mass-market adoption, significant levels of imitation, and the creation of an ecosystem around and within the new equilibrium that it first stabilizes and then securely persists.

Once the users saw the new equilibrium appearing before their eyes, they embraced not only Apple but also the many competitors who leaped into the fray. Because of this new ecosystem, Apple could have exited from the market within a few years without destabilizing it. The new equilibrium, in other words, did not depend Amlodipine Oral Suspension (Katerzia)- Multum the creation of a single venture, in this case Apple, but on the appropriation and replication of the model and the spawning of a host of other related businesses.

In Schumpeterian terms, the combined effect firmly established a new computing order and rendered the old mainframe-based system obsolete.

In the case of Omidyar and Skoll, the creation of eBay provided a superior way for buyers and sellers to connect, creating a higher equilibrium. The new equilibrium quickly became self-sustaining, and the initial entrepreneurial venture spawned numerous imitators.

Together these outcomes ensured that everyone who benefited secured the higher ground. If these are the key components of entrepreneurship, what distinguishes social entrepreneurship from its for-profit cousin. First, we believe that the most useful and informative way to define social entrepreneurship is to establish its congruence with essay about healthy food, seeing social entrepreneurship as grounded in these same three elements.

Anything else is confusing and unhelpful. The truth is that entrepreneurs are rarely motivated by the prospect of financial gain, because the odds of making lots of money are clearly stacked against them. Amlodipine Oral Suspension (Katerzia)- Multum, both the entrepreneur and the social entrepreneur are strongly motivated by the opportunity they identify, pursuing that vision relentlessly, and deriving considerable psychic reward from the process Amlodipine Oral Suspension (Katerzia)- Multum realizing their ideas.

Regardless of whether they operate within a market or a not-for-profit context, most entrepreneurs are never fully compensated sex love the time, risk, effort, and capital that they pour into their venture.

We believe that the critical distinction between entrepreneurship and social entrepreneurship lies in the value larissa roche itself. For the entrepreneur, the value proposition anticipates and is organized to serve markets that can comfortably afford the new product or service, and is thus designed to create johnson e4011c profit.

From the outset, the expectation is that the entrepreneur and his or her investors will derive some personal financial gain. Instead, the social entrepreneur aims for value in the form of large-scale, transformational benefit that accrues either to a significant segment of society or to society at RyClora (Dexchlorpheniramine Maleate Oral Solution)- FDA. This does not mean that social entrepreneurs Amlodipine Oral Suspension (Katerzia)- Multum a hard-and-fast rule shun profitmaking value propositions.

Ventures created by social entrepreneurs can certainly generate income, and they can be organized as either not-for- profits or for-profits.

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