So, you want to start a plumbing business. Hidden in this is an important concept — that depending on the sources of cost leadership an industry will continuously move toward conglomeration or fragmentation. Judith, thank you for your comment. Sounds like Dr. Terry has put together a comprehensive model. I suppose technically, he is suggesting a contingency theory of leadership through which a leader chooses his style according to the situation. Certainly leaders must be able to adapt to whatever situation they face. Lessem, R 1983, ‘The art of entrepreneurship’, Journal of General Management, vol. 8, no. 3, pp. 39-49. Most people are pretty good about getting fired up about their idea or project but lousy at finishing the task. Why? Burn out. People who launch a business based on hope, guesswork and fantasy burn out under the diversified load of responsibilities required of starting a business. Especially when the business has no inertia, no forward movement, and every spoke of the wheel has to be reinvented from the bottom up before you can begin marketing and selling. This is made more difficult when you are overwhelmed with learning on the fly while inventing every element related to your business. If you are keen to start expensive business, Luxurious car business can be your choice. In this business you need to purchase luxurious cars and lease them. Many rich people avail such services and they are ready to pay money for this. It’s good, unless their new expenses for having to cover things they can’t currently afford to cover exceed a few percentage points of current expenses. If that’s the case, and they aren’t allowed to raise rates, they’ll go bankrupt. Obamacare doesn’t address the reasons why healthcare costs are high in America. The challenge is the attitude, fear and perceptions people have towards creativity. People associate creativity with a particular personality or genius of a person, others see it as a specific thinking style (right brain directed thinking) and some see it that people are simply born artistic. So, defining and understanding creativity can be problematic. The idea that creativity is a predetermined personality trait appeals at a psychological level because it gives people an excuse for not innovating or initiating change themselves, reducing the problem of creativity to a recruiting challenge. This makes creativity in business a rare commodity. But this can no longer be accepted. Except for cost. The US is #1 for percentage of GDP spent on healthcare. Despite the idealism, Amartya Sen’s capability approach to development has left strong impact on the global developmental discourse. It provides a unified view of development and poverty – the opposite side of each other. If development is expansion of people’s capabilities, poverty is just the opposite – deprivation of basic capabilities. The capability approach has put the idea of development in the right perspective by considering it as a multidimensional process that can’t be adequately viewed from any one dimensional lens such as economic growth. This then makes poverty also a situation with multidimensional deficits in development.