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The Real Job Creators: Why America should glorify entrepreneurs less and managers more. - Slate Magazine
By Esther Dyson|Posted Friday, Nov. 18, 2011,

a man who arrives in a village with what he claims is a magic stone. Put the stone into a pot of water over a fire, he says, add a just few ingredients—some vegetables, some old ham bones, a few spices—and soon you will have a delicious, life-giving soup with magical healing properties.

In this folk tale, the man is a trickster: The point of the story is that his magic stone is just a plain old rock. To modern eyes, however, this man is an entrepreneur. His “magic stone” is perhaps the germ of an idea, a product concept, or a marketing innovation. The entrepreneur takes the stone and adds ingredients (commodities or software), attracts people, gets them to work together, and perhaps tosses in a pinch of branding. The result is value where before there were only unexploited resources.

But that is only the beginning of the story. In the long run, the entrepreneur’s job is not to make soup, but to create a restaurant—or, better yet, a chain of restaurants—so that the magic soup can be made reliably, day after day, by a team that can work on its own without the impresario’s direction. Over time, the company will continue to evolve, improving the soup, adding other items to the menu and opening up restaurants in new markets....We can argue about the value of education, but large companies are good at offering practical business skills—turning college graduates into project managers, marketers, human-resources specialists, and the like. These jobs may not generate revenues directly, but they are part of the structure that enables people to run companies effectively and benefit from economies of scale.
college-educated  economies_of_scale  entrepreneur  entrepreneurship  e-Myth  Esther_Dyson  impresarios  job_creation  large_companies  management  storytelling  unexploited_resources  value_creation 
november 2011 by jerryking

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