Key Takeaways and Actionable Insights An understanding of the Austrian definition of capital is tremendously useful to all business owners and managers. What is capital? Austrian economics has a precise and distinctive definition — unlike business schools and most business publications, books, and columnists. Among those entities, the term capital tends to be used very […]
Podcast transcript. Sept 29, 2020 Dr. Per Bylund compares the insight of the Austrian school of economics with the models and theories and strategic frameworks that come from business schools. Last week on episode 85 of the #E4Epod with @PerBylund, we urged entrepreneurs to consider the insights of the Austrian school of economics versus those […]
“Entrepreneurship is like sailing through changing weather, winds, waves and tides.” – Allan Branch
These are interesting times for sure, with many small and large companies making hasty decisions to cut back and, in many cases, to cut out of their budget, the most competitive market tool – advertising. Companies that are in survival mode should not decrease their advertising spend in the short run.
Firms who follow the Austrian Business Model framework are focused on value for their customers – a special kind of value. It’s worth reviewing the history of value theory, and how far it has advanced to the present day. Goods-dominant thinking about value: value-in-use. In the past, there was a belief that value was inherent […]
Why do business schools exist? Dr. Bylund wonders if business schools are facing an existential problem.