“Entrepreneurship is the backbone of any successful socio-economic system.” It’s this outlook that has taken L.D. Beard to great lengths and for which he was inducted into the Society of Entrepreneurs in 1997.
L.D. is a founder of Biotechnology, Inc., which is now known as Medtronic Sofamor Danek, a company dedicated to groundbreaking research, development, manufacturing, marketing, and distribution of medical devices primarily for the treatment of spinal and certain neurological disorders.
Through his leadership, Sofamor Danek has become the primary resource that spinal and cranial surgeons depend on for solutions to clinical and practice solutions. He has served as President, Chairman, and CEO of the company and served on its board until the sale of the company to Medtronic in 1999.
L.D. Beard’s efforts have also long been directed to other civic and business interests, such as the board of Risk Assessment Systems, Inc., the Memphis South Rotary Club, Chickasaw Council, Boy Scouts of America, and the Board of Trustees of the Orthopaedic Research and Education Foundation.
“‘Entrepreneurship is the only true creator of wealth, therefore of jobs, because the basis of entrepreneurship is the creation of customers willing to pay for a new technology, a new product or a new service. Where entrepreneurship is discouraged by taxes, regulations or other forms of wealth redistribution, the underlying government and society will eventually fail. In short, entrepreneurship is the backbone of any successful socio-economic system.”
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