The Role of the Private Sector

Min Ding ()
Additional contact information
Min Ding: The Pennsylvania State University

Chapter Chapter 5 in The Bubble Theory, 2014, pp 45-53 from Springer

Abstract: Abstract Drawing from the Bubble Theory, and more specifically, the framework of enlightened needs (ENs) and fair development (FD), I now embark on the prescriptive components of this book. In this chapter, I discuss the role the private sector should play, specifically, how a for-profit business should operate in this environment. The most important role of the private sector is to maximize profit for shareholders—no more, no less. After clarifying the position of private sector members, I discuss demand from two angles. The first is the source of demand, either from the ENs or FD. The second is the three types of customers: individuals, other members of the private sector, and members of the public sector. I then propose the concept of bubble audit that a firm can use to identify its Achilles’ heel, and those of its competitors and (business) customers relative to current demands. Guided by both identified demands and the results of the bubble audit, I discuss how the private sector should identify opportunities and create value for itself through innovation. I conclude this chapter by suggesting modifications to the organizational structures of firms that will facilitate their quests for value creation in the face of new types of business opportunities.

Keywords: Enlightened needs; Fair development; Bubble audit; Business opportunities; Innovation (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:spbrcp:978-3-319-00921-6_5

Ordering information: This item can be ordered from
http://www.springer.com/9783319009216

DOI: 10.1007/978-3-319-00921-6_5

Access Statistics for this chapter

More chapters in SpringerBriefs in Business from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().