Success in business — serving customers well, and achieving growth in revenues and assets with a return on capital greater than its cost over the long term — is tied to knowledge-building, whereby …
192. Mark McGrath on Orientation and the Adaptive Entrepreneurial Method
When firms apply the principles of Austrian economics to business management, we call the result the Adaptive Entrepreneurial Method. It’s adaptive in that it is a continuous learning process, and …
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191. Allen Mendenhall: Putting Humanness and Ethics Back Into Business Economics
We are living through a particularly bad moment in history for free markets and capitalism. Government, not business, is promoted as the solution to all problems. Young people have never known any …
190. Peter Klein: Why Managers Still Matter:
Entrepreneurial businesses embrace adaptiveness and change, and continuous innovation enabled by flexible and responsive organizations, empowered at every level. That doesn’t mean there’s no role for …
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189. James Kent: Carving A Differentiated Growth Space In A Well-Established Market
Entrepreneurs always generate new value for customers; that’s what they get paid for. It’s not always necessary to create a new market; there are many creative ways to expand the value potential of …
188. Jordan Lams on Finding and Patiently Developing Your Entrepreneurial Focus
We define entrepreneurship in terms of people working creatively to make others’ lives better. That’s a very broad statement, of course, so it’s instructive to observe how individual entrepreneurs …