Writer is Chief Visionary Officer of World’s First Smart Thinking Tank ”Beyond The Horizon” and most diverse professional of Pakistan. See writer’s profile at http://beyondthehorizon.com.pk/about/ and can be contacted at “firstname.lastname@example.org”
Do we know the difference between an Entrepreneur, a Corporate Executive and an Economist? and How to utilise them in a government.
By Ahmad Jawad
Entrepreneurs, Corporate Executives and Economist are controlling this world. Global economy is under their influence. Global politics emanates from their influence. Global industry and businesses are formed and run by the influence of three types of experts.
To begin with, i give you examples to understand these three types of experts.
Who is an entrepreneur?
Mark Zuckerberg, Steve Jobs, Bill Gates, Elon Musk, Richard Branson and many other examples of entrepreneurs who helped the world to change through technology, through ideas and creating enterprises but without ever entering into politics and public offices. A chaiwala at Islamabad is also an entrepreneur.
Few Entrepreneurs who took public offices and left great mark of their presence are Mike Bloomberg, Ross Perot, Arnold Schewaznager and Mit Romney from USA. Donald Trump is the most notable example of entrepreneurs who reached to President of USA, though he was a reckless entrepreneur nearly escaped from bankruptcy of his entire estate.
When i am talking about entrepreneurs, i am not talking about big or small entrepreneur, but i am talking about only the successful entrepreneurs. We should be careful from those Entrepreneurs who repeatedly end up in failures.
I also rule out rich children of successful businessmen from the definition of entrepreneurs who claim themselves entrepreneurs but their only achievement is their inheritance of business and property from their parents. Most of them spent their lives in experimenting and wasting what they inherited from their parents.
Successful Entrepreneurs are creative, innovative and think independently because they have learnt to generate ideas, take initiatives, decisions, risks and have developed ability to face & overcome challenges and finally making their ideas successful.
Successful Entrepreneurs is the best breed in terms of brilliance, because they are the only ones who swim through the ocean of life at their own so their learning and understanding of life and business is outstanding.
Who is Corporate Executive?
They are not entrepreneurs rather they are working in a business entity as an employee who rises from lower & middle level positions to higher position during their career. CEOs of the multi national companies and all private entities come under the definition of Corporate Executives or Leaders. Corporate Executives can only be successful if they are good followers besides hard working, consistent, focused and good presenter of business dynamics. They are not expected to generate out of box ideas, they love to follow the book. They will stay 1000 miles away from risks and even initiatives since initiatives lead to risk and threats. They will read and understand company policy and targets carefully and follow plans within management guidelines. They are trained not to criticize or even question their bosses, no matter what. They are trained to be flexible to management policies.
Corporate Leaders can safely be called as corporate bureaucracy. They are the private sector version of public sector bureaucracy.
Corporate Executives adjust well with the bureaucratic form of governance in a government. They play safe and avoid risks and initiatives. This mindset is because of their training and what they professionally learnt in their lives. Very rarely, a corporate leader can become a good businessman because he has always survived and grown with the support of resources, safety, security of an organization. He was never allowed to make decision independently, so he will not make a decision till he has consulted every bureaucratic layer of an organization and end result will be a weak and careful decision. They must hold on to some position and play safely to finish their inning without ever taking any risk or initiative. Corporate Leaders go by the book. They are best for running offices smoothly but they are bad choice if big revolutionary changes are required.
Who is Economist?
Economist mostly comes from Academia, and mostly their job is to analyze data, statistics & trends and suggest solutions and policies. Obama is most notable example of an Economist who became President of USA. His style of working as President always reflected that cautious approach of an economist. You cant beat them in knowledge, statistics and analysis of data.
Economists are mostly paper tigers; there can be great brains among Economists but what they miss out mostly are their lack of practical experience. Their ideas and mindset are from theories, research, data and statistics. Their overwhelming reliance on data and statistics take them away from practical life. Their data and statistics might never help in a crisis or to bring a big change. They will be found too conservative and cautious. They prefer to suggest and advise rather than performing themselves so their chances of failure are almost negligible, for this reason, they thrive again and again without actually bringing success.
Economists are the only survivors of a failed government who will find place in the next government as well.
Economist should not be mixed with Financial Accountants. Financial Accountants are meant for book keeping, generating reports and auditing accounts. Financial accountants mostly come from banking sector. They are also found as account holders at all private and public sector entities.
How a government should use these three types of experts?
Now if a government has to run its affairs through these experts, which are the preferred categories of brains, which can help government to achieve, desired results in national development? In a government, we mostly see Economist and Corporate Executives playing their roles, very rarely we see an entrepreneurs taking up government position especially in Pakistan. The reason is simple that economist and corporate executives in their lives have only learnt “how to seek and take a job in their career, so they will position & pick any good opportunity which comes to their way whether from public or private sector. They cannot survive without a position or job. Exceptions could be there.
What should government do while picking a team for great success or big change. Government must introduce entrepreneurs into sick industries and dead segments with huge potential of growth and which are not performing well. Out of box solutions will only come from Entrepreneurs because they have the ability to think, innovate, initiate, and identify threats & risks and have courage to take on the challenges.
A government should have a mix of Entrepreneurs, Corporate Leaders and Economist. While choosing corporate leaders, government must select corporate leader from a relevant segment. For example, a telecom corporate leader should lead the corresponding sector in public sector, a corporate leader from agriculture sector should lead agriculture, a corporate leader from energy sector should lead energy sector of public sector.
For an entrepreneur, government must select most difficult segments since they are the ones who would sail through with “out of box” solutions and resilience but they must be given independence and authority.
Entrepreneurs are most difficult to find for public sector because they are not trained to stand in a queue to apply and seek positions unlike corporate leaders and Economist who are always found seeking better positions and sharing their profiles in various avenues to qualify for a good opportunity.
A simple way to distinguish among three categories and how to utilise them in national development can be derived from this example.
An Economist can write a good show, A Corporate Leader can run that show successfully, An entrepreneur can create all together a new show with his own script and his own plan.