reneurs can realize their goal to think better, think Austrian by taking a systems thinking approach. We can ditch linearity and hierarchies in favor of distributed networks and webs of causality and create better knowledge – more aligned with the real world — and better mental models.
There are many conversations going on about the purpose of firms. Should it be the single-minded pursuit of shareholder value, as Milton Friedman is adjudged to have advised? Is it to create value for all stakeholders, including employees, neighbors, and lobbyists for the natural environment? Or is it solely to create customers by bringing them […]
In praxeology, subjective value theory, customer sovereignty, and ordinal value stacks, he identified the building blocks of a marketing approach for our digital age. We talk about it in Economics For Business #159.
Entrepreneurship-as-design is brought to life in a wonderful conversation with Mark Romera, who conceived, designed and brought to market a values-driven vision of kids having fun playing in their backyards, via an impeccably crafted brand named Spimbey.
Austrian economics provides many layers of principles and insights for businesses, enabling them to thrive in a fast-changing environment.
The terminology of complex adaptive systems sounds academic and abstruse, but the subject is not: it’s about the real-life, in-your-face problems and challenges that face a business every day.