Peter Drucker is famous for, among many other pieces of business wisdom, his statement that “there is only one valid definition of business purpose: to create a customer”. That’s a statement with a …
The Importance Of Behavioral Data: It Is Not What Customers Say, It Is What They Do.
It is preposterous to assume what customers say is more important than where they place their feet and the price they pay for products or services. The customer's mind is still elusive and challenging …
Why All CEO’s Can Benefit From A Familiarity With The Austrian Business Model.
For our Economics For Business initiative, we have adopted the motto: Think Better, Think Austrian. Everyone in business can benefit from studying and understanding the fundamentals of economics. …
What Is A Business Model? It’s Not What You’ve Been Told.
What is a business model? It’s a question asked frequently on Google Search, so there must be doubt in businesspeople’s minds. The reason for the uncertainty is clear. The term business model …
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Entrepreneurship Brings Us Optimism For The Future, Despite The Depredations Of Government.
Jeff Deist recently argued the case for economics over politics in his talk "Markets vs. Mobs." I believe markets will prevail, and here's why. Our resource is not "science" but knowledge. It …
How Murray Rothbard’s Theory of Entrepreneur-Driven Progress Can Be Applied to Modern Businesses
Recently, on the Human Action Podcast, Jeff Deist and I discussed the Rothbardian theory of the entrepreneurial economy in chapter 8 of Man, Economy, and State, titled "Production, Entrepreneurship, …