THE 7 FUNDAMENTAL LAWS OF ENTREPRENEURSHIP Implementation Framework

In view of the fact that the global competitiveness of nations is largely determined by the comparative size, strength and rate of growth of their economies and entrepreneurship is the only means of creating value and wealth across all industries, markets and economies, entrepreneurship can be likened to a must-win game that involves the highest stakes! The fact that entrepreneurship is a must-win game that involves the highest stakes is conclusively-proven by the overwhelming evidence that more entrepreneurial businesses and economies typically tend to easily out-perform and out-compete less-entrepreneurial businesses and economies. Since a game can only be rightly played and won on the basis of diligent compliance with its ground-rules, it logically follows that the game of entrepreneurship can only be best-played and won on the basis of its fundamental laws. However, the paradox is that despite its fundamental importance as the only means of creating value and wealth across all industries, markets and economies, and the catalyst that makes the highest contribution to development, growth, competitiveness and transformation of all economies, the teaching and practice of entrepreneurship have hardly been known to be linked to any specific set of principles which are articulated as the fundamental laws of entrepreneurship. The absence of clearly-defined laws of entrepreneurship means that the most important economic activities which are linked to the creation of value and wealth are being undertaken without the benefit of either sufficiently building on the fundamentals of entrepreneurship or developing and deploying the right national and enterprise-level entrepreneurial systems that can be used to ensure the optimal exploration and exploitation of the boundless resources and opportunities that can only be linked to entrepreneurial economics! The desire to define the rules of the game of entrepreneurship is an especially important mission because entrepreneurship will only take on its true/full meaning when it can be approached, learnt and practiced on the basis of its fundamental laws! However, the accurate definition of the fundamental laws of entrepreneurship requires thorough grasp of the fundamentals of entrepreneurship and such grasp must be supported with the most compelling logic, practical applicability and full-cycle alignment!