The Economics for Business Podcast

A podcast based on the winning principle that entrepreneurs need only know the laws of economics plus the minds of customers. After that, apply your imagination.

192. Mark McGrath on Orientation and the Adaptive Entrepreneurial Method

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When firms apply the principles of Austrian economics to business…

191. Allen Mendenhall: Putting Humanness and Ethics Back Into Business Economics

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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 other environment, and one of the consequences is the skepticism about capitalism that they learn in school, college, and university.

190. Peter Klein: Why Managers Still Matter:

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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 managers.

189. James Kent: Carving A Differentiated Growth Space In A Well-Established Market

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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 established markets and carve out a territory in the new expanded space.

188. Jordan Lams on Finding and Patiently Developing Your Entrepreneurial Focus

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We define entrepreneurship in terms of people working creatively to make others’ lives better.

187. Per Bylund: The Austrian School Approach to Business versus the Business School Approach

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Business is a form of applied economics. Its purpose is to make people’s lives better. Profit is the signal from society that business is doing a good job in the customer’s estimation.

186. Jared Wall: How a Courageous Entrepreneur Enters a Formative Market

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How do new markets form? When consumers change their tastes and preferences and behaviors, how are the markets to serve them activated? The markets don’t yet exist — entrepreneurial action is required to create them.

185. Jessica Fialkovich On The Business Of Selling Businesses

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Every business should have an exit plan in mind from Day 1. Why? Because it’s impossible to control the timing of an exit or the changes in circumstances that might precipitate it.

184. Rick West: When B2B Goes Click-To-Cart

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Do the principles of customer value generation that we espouse in our Economics For Business program apply equally for both B2C and B2B businesses? The answer is emphatically yes.

183. Ahmed Elsamadisi: The Stories Data Can Tell Us If We Ask The Right Questions

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make decisions? Data certainly don’t make decisions, nor do analytics, nor do the computers they run on. Human begins make decisions — the human factor is crucial.

182. Gordon Miller: What’s Your Absorptive Capacity for User-Generated Innovation?

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It’s often the case that lead users — the most sophisticated, committed, and energetic users — are an excellent source of innovation ideas.

181. Brian Rivera on the Flow System

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The traditional approaches to the structure and management of firms are becoming barriers to customer value