Income Reengineering is Social Entrepreneurship on a Large Scale

First, let’s start with learning about Social Entrepreneurship

 

 

 

As you can see, the central theme surrounding social entrepreneurship is to apply business and entrepreneurial methodologies to affect social change as opposed to just relying on the non-profit sector.

 

Next, let’s review the thinking around Income Reengineering and the associated Income Reengineering principles and processes. As you review this, you will see how Income Reengineering is social entrepreneurship applied on a large scale.

 

Income Reengineering Principles and Processes
Let’s start with a few key definitions

Definition of Income Reengineering: Income reengineering is the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in the income earning and wealth building ability of the average worker while he or she is on the job. To dig deeper, consider the following definitions:

 

The Income Reengineering Process: The Income Reengineering Process is the real time, collaborative and interactive economic research into how to apply the internet and other information technology to aggressively and systematically integrate entrepreneurship and wealth focused principles, processes and compensation models into the mainstream workplace to the point where we make the Income Reengineering Vision a reality in the mainstream workplace.

 

..and the Income Reengineering Vision:

 

Income Reengineering Vision: Eliminate paycheck to paycheck dependence on a large scale and shift employee thinking and focus away from just earning a paycheck to running their own business under the roof of employers with the support of employers. The resulting workplace compensation model is called the Empowered Employee Compensation Model (EECM). The EECM replaces hourly wages and salaries with ten (10) new income resources and benefits with the potential to usher in a 3-fold increase in the aggregate standard of living for both employees and employer

 

Next, this is the core Income Reengineering Principle

 

Core Income Reengineering Principle: Information technology can only translate into individual financial empowerment and wealth for the masses when the masses learn how to use new information technology and connective tools to interact and collaborate professionally with each other outside of the bounds of traditional employment and in ways that is financially empowering to all participating individuals. Over time, this empowerment will find its way into the mainstream workplace as financially empowered employees are willing and financially able to forgo hourly wages and salaries in lieu of more lucrative productivity and ownership based compensation. This is how the Empowered Employee Compensation Model (EECM) will evolve or similar model representing worker empowerment in the workplace.

 

With these definitions in mind, we can review specifically why Income Reengineering principles and processes is social entrepreneurship on a large scale. We point to two key phases in the definition of Social Entrepreneurship shown in bold below: the central theme surrounding social entrepreneurship is to apply business and entrepreneurial methodologies to affect social change as opposed to just relying on the non-profit sector………starting with social change.

 

Income Reengineering and Social Change

Let’s revisit the Income Reengineering core principle:

 

Information technology can only translate into individual financial empowerment and wealth for the masses when the masses learn how to use new information technology and connective tools to interact and collaborate professionally with each other outside of the bounds of traditional employment and in ways that is financially empowering to all participating individuals. Over time, this empowerment will find its way into the mainstream workplace as financially empowered employees are willing and financially able to forgo hourly wages and salaries in lieu of more lucrative productivity and ownership based compensation. This is how the Empowered Employee Compensation Model (EECM) will evolve or similar model representing worker empowerment in the workplace.

 

Think about it. Most people only interact professionally under the roof of a traditional company or employer and under the direction of a boss. What happens when you create an environment and incentive that encourages interaction outside of these traditional confines? People learn, grow, expand their thinking, develop new socialization and professional skills sets, and, most of all, drive the development of new technology innovations and applications to facilitate the new forms of interactivity, dynamics and flexibility.

 

A another consideration is economic advancement or evolution.  For example:

 

In response to the global competitiveness issues, Business Week columnist, Michael J. Mandel, offered the following view point: “Think of the world economy as a ladder. On the bottom rungs are the countries producing mainly textiles and other low-tech goods. Toward the top are the U.S. and other leading economies, which make sophisticated electronics, software, and pharmaceuticals. Up and down the middle rungs are all the other nations, manufacturing everything from steal to autos to memory chips. Viewed in this way, economic development is simple: Everyone tries to climb the next rung. This works well if the topmost countries can create new industries and products. Such invention allows older industries to move overseas while fresh jobs are generated at home. But, if innovation stalls at the highest rung — well, that’s bad news for Americans, who must compete with lower-wage workers elsewhere” Source: Business Week columnist, Michael J. Mandel

 

The social change associated with Income Reengineering will lead to multiple leaps up the rungs on the ladder. Of course, the long term end result will revolutionarize the work as the old industrial age hourly wages and salaries will become an obsolete form of compensation and replaced with the 10 new income resources associated with the new Empowered Employee Compensation Model.

 

Income Reengineering and the application of business and entrepreneurial methodologies
Next, how does income reeengineering principles and process apply business and entrepreneurial methodologies to bring about this social change? It’s starts with the following operational concept:

 

if a large number of people come together over the internet to carryout this Income Reengineering Initiative, then that group of people can direct significant economic power toward accomplishing that initiative without needing the help of corporations, bank, financial institutions, the government or the non-profit sector.

 

With this statement in mind, just focus on the essence of the Income Reengineering Operational Principle where:

 

  • First, we raise millions in crowdfunding dollars from individuals who want to support the evolution of the Income Reengineering vision.

 

  • Next, we use these dollars to encourage individuals to collaborate and engage each other part time over the internet toward the formation of new business enterprises. These business enterprises are designed to facilitate part time work online where workers can earn immediate income, build ownership equity and residual income simply by working within their career field or area of expertise part time over the internet. In other words, this is the operational focus or mission of the online collaboration among participating individuals. Of course, these enterprises secure start-up or seed capital from the crowdfunding initiative mentioned earlier;

 

  • As people participate and earn, we encourage people to pay down bills, build-up savings and generally build a financial foundation leading away from paycheck to paycheck dependence. This is especially true given that people build wealth through the ownership and residual income benefits by working online part time;

 

  • As people build a strong financial foundation, many will eventually say why work for a mere wage if I no longer have to. When this happens, many will seek full time employment where they can earn income in the form of ownership and residual income based compensation, similar to the online system;

 

  • As the online system expands and millions complete these steps, at some point, mainstream companies and corporations will find it hard to find workers still working for a mere hourly wage or salary

 

…and this will put into motion the social change mentioned above.

 

Note the key here is that this system grows and expands from business and entrepreneurial methodologies put in place independent of any traditional corporate, banking or non-profit sectors, which is the essence of social entrepreneurship.

 

To dig deeper, review what is Income Reengineering.

 

 

About Dwight Chestnut 4 Articles
Dwight B. Chestnut is an ex-engineer turned business consultant and entrepreneur. His core focus and passion is developing, introducing and teaching Income Reengineering Principles and Processes to the general and business public.
Contact: Website

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