There is no distinctive definition for a “startup” since profits, employment numbers and revenues shift drastically. Companies that are five to ten years old can still be considered as a startup. However, there are a few key attributes of a startup: a startup must begin with an idea and this idea must be appropriately executed in order for the company to grow. The initial idea often act as a starting point to constantly generate questions for the people who had them; “What matters is not ideas, but the people who have them” (Graham, How to Start a Startup, 2). These people must also sought for growth because all else will fall in line and they can essentially make almost every decision they face. Furthermore, growth is what differentiates a startup from a small business. For a company to grow rapidly, it needs to make something that can be sold to a bigger market. Most businesses fail to do so because either their is a low demand for their product or the product fail to serve or reach those who do want it.
For example, a startup is like a young plant. You need to constantly treat this complex life form with care so it can take on life itself. You will not see a drastic difference within the first couple of months because the young plant have yet to do any benefit. Nevertheless, with the right space, time, clean air, healthy soil and nutrients, the plant grew to become a large tree - a tree that provided shade, fruits and other benefits. But I am curious as to how much burn will a company have to endure before it gets to profitability?
Work Cited: "How to Start a Startup." How to Start a Startup. N.p., n.d. Web. 16 Jan. 2017.
Photo Credit: Włodarczyk, Krystian. The Real Engines of Startup Growth (Besides the Product). Digital image. Positionly, 14 Oct. 2015. Web. 16 Jan. 2017.
Work Cited: "How to Start a Startup." How to Start a Startup. N.p., n.d. Web. 16 Jan. 2017.
Photo Credit: Włodarczyk, Krystian. The Real Engines of Startup Growth (Besides the Product). Digital image. Positionly, 14 Oct. 2015. Web. 16 Jan. 2017.
Week 2: What government system would you prefer when thinking about re-branding a nation? State the nation you are thinking of and explain/justify your answer.
Though capitalism has made Western countries affluent, it does have a few drawbacks. However, only a few can argue the practicality of a socialist system; socialists believe that greed allows those at the top, the government and corporate chains, “rather than all working for all, all are working for a few” (Startup Daily). Thus, they believe in people collectively working and sharing with one another. However, the actual application is not realistic. Meanwhile, with capitalism, everyone gets an opportunity but whether it is equal or ‘fair' is questionable.
I believe in terms of re-branding a nation, the most effective government system would be one that integrate socialism into a capitalist system. A social enterprise is a “business venture where social purpose is the principal driver and is achieved in full, or in part, through enterprise activity” (Startup Daily). This means that while the business maximizes private profit, they also embrace the philosophy of “we can change the world by changing the way we do business” (Startup Daily). This might not sound idealistic but over the years, there has been growing recognitions for social entrepreneurs. Social entrepreneurship is specifically effective in developing countries as the best way to ‘re-brand' the nation. As described by Haksoon Yim, circumstances like high employment rate, gender inequality and people with autism in South Korea created a need for alternative economies - alternatives like social entrepreneurship. Another example is Vietnam and how there are social enterprises that aim to address and solve continuing problems of poverty, social inequality and environmental pressures. According to the Guardian, social entrepreneurs in Viet Nam will be considered for special treatment in granting licenses and certificates. They will be able to obtain “funding, sponsorship and investment from Vietnamese and foreign individuals to cover their operational and administrative costs.” Furthermore, there are startup and social enterprise conferences/exhibitions in Vietnam like Hatch! Fair (image below). There are at least 20 countries, 3000 participants, and 150 companies involved. This goes to show how social entrepreneurship is the next up and coming as their business model allows “capitalism and social justice [to] work together hand-in-hand” (Startup Daily).
Question: What is the difference between a startup and a social enterprise? Or is a social enterprise considered a startup? I would appreciate if we discuss the blurred lines between these two business models.
(For more information about Hatch! Fair 2016 Vietnam)
Work cited:
- "Capitalism vs. Socialism in the Startup Space." Startup Daily. N.p., 08 Jan. 2014. Web. 16 Jan. 2017.
- Jenkin, Matthew. "It's Not Charity: The Rise of Social Enterprise in Vietnam." International Social Enterprise. Guardian News and Media, 31 Mar. 2015. Web. 16 Jan. 2017.
- Yim, Haksoon. "Cultural identity and cultural policy in South Korea." International Journal of Cultural Policy, 17 September 2010.
Though capitalism has made Western countries affluent, it does have a few drawbacks. However, only a few can argue the practicality of a socialist system; socialists believe that greed allows those at the top, the government and corporate chains, “rather than all working for all, all are working for a few” (Startup Daily). Thus, they believe in people collectively working and sharing with one another. However, the actual application is not realistic. Meanwhile, with capitalism, everyone gets an opportunity but whether it is equal or ‘fair' is questionable.
I believe in terms of re-branding a nation, the most effective government system would be one that integrate socialism into a capitalist system. A social enterprise is a “business venture where social purpose is the principal driver and is achieved in full, or in part, through enterprise activity” (Startup Daily). This means that while the business maximizes private profit, they also embrace the philosophy of “we can change the world by changing the way we do business” (Startup Daily). This might not sound idealistic but over the years, there has been growing recognitions for social entrepreneurs. Social entrepreneurship is specifically effective in developing countries as the best way to ‘re-brand' the nation. As described by Haksoon Yim, circumstances like high employment rate, gender inequality and people with autism in South Korea created a need for alternative economies - alternatives like social entrepreneurship. Another example is Vietnam and how there are social enterprises that aim to address and solve continuing problems of poverty, social inequality and environmental pressures. According to the Guardian, social entrepreneurs in Viet Nam will be considered for special treatment in granting licenses and certificates. They will be able to obtain “funding, sponsorship and investment from Vietnamese and foreign individuals to cover their operational and administrative costs.” Furthermore, there are startup and social enterprise conferences/exhibitions in Vietnam like Hatch! Fair (image below). There are at least 20 countries, 3000 participants, and 150 companies involved. This goes to show how social entrepreneurship is the next up and coming as their business model allows “capitalism and social justice [to] work together hand-in-hand” (Startup Daily).
Question: What is the difference between a startup and a social enterprise? Or is a social enterprise considered a startup? I would appreciate if we discuss the blurred lines between these two business models.
(For more information about Hatch! Fair 2016 Vietnam)
Work cited:
- "Capitalism vs. Socialism in the Startup Space." Startup Daily. N.p., 08 Jan. 2014. Web. 16 Jan. 2017.
- Jenkin, Matthew. "It's Not Charity: The Rise of Social Enterprise in Vietnam." International Social Enterprise. Guardian News and Media, 31 Mar. 2015. Web. 16 Jan. 2017.
- Yim, Haksoon. "Cultural identity and cultural policy in South Korea." International Journal of Cultural Policy, 17 September 2010.
Photo Credit: Unknown. Hatch! Fair - Vietnam Start-up Conference & Exhibition. Digital Image. Fablab. 4 Oct. 2016. Web. 16 Jan. 17
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