At the core of the entrepreneurial orientation that is the engine of vibrant, growing, value-creating, customer-first businesses, we find the principles of subjectivism and subjective value. Subjective value embraces not only the value the customer seeks, but also the value that entrepreneurs establish in their companies: capital value. Once businesses master these two principles in combination, they can open new horizons of innovation and growth.
Show notes: https://mises.org/library/peter-lewin-and-steven-phelan-how-do-entrepreneurs-calculate-economic-value-added
"An Austrian Theory Of The Firm" by Peter Lewin and Steven Phelan: https://Mises.org/E4B_176_PDF1
Austrian Capital Theory: A Modern Survey of the Essentials by Peter Lewin and Nicolas Cachanosky: https://Mises.org/E4B_176_Book
"Entrepreneurship in a theory of capital and finance — Illustrating the use of subjective quantification" by Peter Lewin and Nicolas Cachanosky: https://Mises.org/E4B_176_PDF2