Start-Ups Should be Socially Beneficial

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J S Broca
Teacher, India

Start-Ups Should be Socially Beneficial

Start-ups are generally associated with high growth, technology oriented companies in which investors are interested due to their risk-reward profile, low costs, higher risks and high potential for ROI (Return on Investment). Merely having an idea up your sleeve is not sufficient. Its commercial potential has to be seen. Rarely we come across start-ups which yield huge returns to their creators and investors - such as Google.

In my opinion, what is more relevant in today's times is that start-ups must be socially beneficial. If a start-up is successful in raising the standard of living of the common man, I feel it has served its purpose. An excellent example is Mohammad Yunus' Grameen Bank project which won him the 2006 Nobel Peace Prize. This example indicates that to be successful, a really useful start-up must be low cost and have the ability to transform lives and resolve social inequities in our society.

Consider also Warren Buffet's recent letter on Berkshire Hathway's website, where he offers two good lessons for start-up ventures:
A) Converse like a real human being
B) Admit mistakes and move on.

  Jaap de Jonge
Editor, Netherlands
 

Shouldn't Any Company be Socially Beneficial?

I agree. But in my vision, ANY company has to be socially beneficial, not only start-ups. More and more people, countrie...

 

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