Course

Endeavor: Advancing Sustainable Economic Development

Stanford University
Course Lectures
  • Three Facets of Business
    Edgar Bronfman Jr

    Edgar Bronfman, Jr., CEO of Warner Music Group, believes business is a circular concept that can be described using three words: believe, listen, and act. First, he says, you have to believe in your vision, your opportunity, and most importantly yourself. Secondly, you have to listen to the market and properly assimilate the facts surrounding your vision. Lastly, it is critical to take action, although it may be difficult for some to change what they have been used to do doing.

  • According to Bronfman, decisiveness in a company is key, particularly in decisions regarding employees who are not pulling their weight. From his experience, odds are that employees in this position will not improve. Entrepreneurs must learn that they have a responsibility toward the company, not an individual.

  • Bronfman describes how Endeavor, an organization dedicated to high-impact entrepreneurship, provides entrepreneurs with the tools they need to succeed across the globe. Because of the market-based focus of Endeavor, many of the companies it supports can uphold their own growth. Using the principle of real market vitality, Endeavor entrepreneurs have built sustainable economic developments world-wide.

  • Bronfman argues that the problem with America is that while values of integrity, hard-work, the rule of law and meritocracy are exported, the advancement of opportunities is not. This is why Endeavor is such a powerful role model; it provides economic opportunities in countries where democracy cannot flourish. With the growing availability of opportunities he says, cultures change, countries evolve, and the world becomes a better and more peaceful place.