The science of economics has a big problem with vocabulary. It attempts to capture complex concepts in single words and phrases, which only serve to confuse and befuddle and cause arguments. To take a …
Ideas Are Not Scarce. Excellent Implementation And Great Execution Are Scarce.
We gathered together another insightful tweet stream from the entrepreneur's highest rated economist, Dr. Per Bylund. The problem of #entrepreneurship is not to come up with a unique idea or …
Definition of Entrepreneurship From Library Of Economics And Liberty
An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise. An entrepreneur is an agent of change. Entrepreneurship is the process of discovering new ways of …
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23. Per Bylund on Entrepreneurial Strategy
Business strategy in books and business schools has tended to towards metaphors of sports or war. There are playing fields or battlefields, and the strategy question is “Where to play, and how to …
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22. Steven Phelan on Managing Expectations
Entrepreneurs operate in the future. They imagine a future where lives are improved because dissatisfactions are removed and there’s greater well-being to enjoy. Everyone can embrace that …
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21. Peter Klein on Transaction Costs
Are you transaction cost-savvy? Peter Klein explains why it’s important. We emphasize profitable value creation as the role of the entrepreneur. Managing costs can contribute to profitability – but …
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