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 it’s entrepreneurial in elevating customer value realization as the most important business purpose.
Show notes: https://mises.org/library/mark-mcgrath-orientation-and-adaptive-entrepreneurial-method
The “Adaptive Entrepreneurial Method” Graphic (PDF): https://Mises.org/E4B_192_PDF1
“Destruction and Creation” by John Boyd (PDF): https://Mises.org/E4B_192_PDF2
Mark J. McGrath on LinkedIn: https://Mises.org/E4B_192_LinkedIn
“Orientation: Bridging The Gap In The Austrian Theory of Entrepreneurship” (AERC 2022) by Mark J. McGrath and Hunter Hastings (PDF): https://Mises.org/E4B_192_PDF3