Economic Progress and Entrepreneurial Innovation: Case Studies from Memphis
Brock School of Business, Samford University
March 2, 2010
Entrepreneurial innovation encourages economic progress, and an institutional climate that encourages risk taking, rewards success, and weeds out failure is essential to a well-functioning economic system. This essay explores a cluster of path-breaking entrepreneurial innovations with common roots in Memphis, Tennessee: Piggly Wiggly’s popularization of self-serve grocery shopping, Holiday Inn’s innovations in standards and quality, Autozone’s adaption of insights from other industries, and FedEx’s creation of a distribution network that has made overnight shipping a reality.
Number of Pages in PDF File: 21
Keywords: Entrepreneurship, Memphis, error, profit, loss, maladjustment
JEL Classification: B53, L26, O10
Date posted: January 15, 2010 ; Last revised: March 4, 2010