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Alertness, Discovery and Resource-Based Strategy. Ed Pletner talks with Hunter Hastings about applying these economic concepts to start, grow, and manage a thriving and highly differentiated business.

Entrepreneurial theory in Austrian Economics employs several terms to describe the entrepreneurial process and the exercise of entrepreneurial skills. 

• Alertness refers to the ability of some entrepreneurs to identify, and quickly gain profit from, marketplace opportunities to buy from one resource and sell to another in a way that benefits both and allows for a profit.
• Discovery refers to the process of applying empathic diagnosis to accurately identify unmet needs of potential customers and to rearrange resources to meet that need, enabling customer value and generating entrepreneurial profit.
• Capabilities-based strategy is the idea of identifying certain key resources — tangible or intangible — that enable a firm to establish a strong and potentially lasting competitive advantage in the marketplace. This approach to strategy is often packaged up in textbooks as the Resource Based View (RBV) of the firm.

Ed Pletner started his entrepreneurial journey with a straightforward application of alertness. 

Ed began as an eBay “trading assistant”, buying from one source (individuals or businesses that had something to sell) and selling to other individuals who wanted to buy, and taking a commission on the trade. With effort, energy and hard work, Ed quickly established that he could sell to large audience and develop a revenue-generating business without the need for a large overhead or expensive technology.

Rest van de aantekeningen vindt u bij het oorspronkelijke artikel hier.

Duur: 43:07

Publicatie 23 april