A week of wealth
Just as Michael Apted did with the legendary Up movie series following a group of British school-children over the years, it would be a fascinating exercise to get inside the minds of entrepreneurs of different generations.
Remember the 1980s with its Gordon Gekko inspired “Greed is good” mentality and an accompanying era of self-serving tycoons? How would that compare with the entrepreneurs of today?
Firstly, a caveat: profit is still the primary motivating factor or fortunate by-product of most entrepreneurial endeavours. In addition to every noble intention of helping others and advancing society, it is obvious the venture must still be commercially successful if it is to be sustainable.
But while some of the end-goals may not have changed, the means to that end certainly have shifted.
KPMG demographer Bernard Salt hinted at this issue when he said that the next decade of business was likely to be shaped by the rise of a “new morality”, where customers would have to feel morally justified in purchasing products or services.
That is, when faced with a choice of two equal products they would select the product with the best ‘green’ credentials or the product with the most natural and sustainable ingredients.
This change in mindset is also becoming more evident in the contemporary group of successful entrepreneurs.
It is becoming almost a standard refrain that company owners are ensuring their staff are well looked after, seeking efficient production processes or eliminating waste and behaving as ethically as possible.
Time will only tell if the current feelings of goodwill will translate into future generations of success.
