Value Creators
Welcome to the Value Creators podcast, the ultimate destination for business enthusiasts seeking to unlock the secrets of success through the lens of Austrian economics. Join Hunter Hastings and a variety of insightful guests as they delve into engaging conversations with business owners and esteemed practitioners from leading business schools.
In each episode, the Value Creators podcast goes beyond the surface-level discussions of traditional business strategies and explores the profound impact of Austrian economics on the world of entrepreneurship. Drawing upon the rich principles and theories of this school of thought, our host uncovers hidden gems and actionable insights to help listeners improve their businesses.
With a keen focus on value creation, this podcast aims to inspire and empower listeners to elevate their businesses to new heights. By exploring the ideas of Austrian economics, which emphasize individual decision-making, market dynamics, and the importance of entrepreneurship, our interviews shed light on innovative strategies and approaches to succeed in today's dynamic business landscape.
We'll present a diverse range of guests, including successful business owners who have effectively applied Austrian economics principles to their enterprises. Listeners will gain invaluable knowledge about strategic decision-making, market-driven innovation, and the importance of understanding human action in business contexts.
Additionally, the podcast features discussions with esteemed practitioners from renowned business schools. These experts provide listeners with a broader perspective on how Austrian economics can be effectively integrated into business curriculums, enabling aspiring entrepreneurs to sharpen their skills and gain a competitive edge.
Whether you're a seasoned business owner, an aspiring entrepreneur, or a curious mind intrigued by the intersection of Austrian economics and business, the Value Creators podcast is your go-to resource. Tune in to each episode to explore thought-provoking discussions, actionable advice, and captivating stories that will inspire you to unleash your full business potential.
Are you ready to uncover the secrets of successful businesses through the principles of Austrian economics? Join us on the Value Creators podcast and embark on an enlightening journey that will revolutionize the way you approach entrepreneurship.
Value Creators
Episode #45 - Embrace the Hyper-Entrepreneurial Era: Creating Innovations to Serve Customers' Needs (Working On Purpose Podcast Repost)
This episode is a repost from The Working On Purpose Podcast
Capitalism comes in for criticism, despite the fact that this economic system has resulted in substantially increasing global per capita income over the centuries, spurring economic growth and progress.
Critics often criticize a kind of Aberrant Capitalism, one that is dominated in their minds by corporations, whose behavior is not always meritorious.
But from the earliest times, it was Customer Capitalism, not corporate capitalism, that was the driver of individual prosperity and thriving. Companies such as Wedgwood & Bentley of Wedgwood China fame (founded 1759) set the original precedents by prioritizing customer needs and innovation, laying the foundation for contemporary business practices. The advent of these corporations facilitated large-scale entrepreneurship, promoting innovation and efficient responses to customer demands.
Entropy has set into the capitalist system since the founding days, and there is some corporate behavior that needs reform. Dr. Alise Cortez is attentive to these concerns. We discussed the prospects for a revival of customer capitalism
Resources:
Connect with Hunter Hastings on LinkedIn
Connect with Dr. Alise Cortez on LinkedIn
Dr. Alise Cortez's websites: Gusto-Now.com and AliseCortez.com
Show Notes:
0:00 | Intro
3:25 | Capitalism: Bad Rap and the Purpose
08:07 | Standard Oil's Impact on Civilization
09:52 | World War: Capitalism in the Next Era
14:20 | The Post-War Capitalism: Command and Control
19:50 | Period of Financialization
21:05 | Maximising Shareholder Value
22:14 | Government as the Customer
25:35 | The Promise of Customer Capitalism
28:30 | Current Landscape of Customer Capitalism
33:03 | Management Practices of Forward-Thinking Companies: Extremely Flat Organization
35:33 | Cross-Functional Teams
37:45 | Short-Term Problem Solving vs. Long-Term Planning
39:50 | Long-Term Stock Exchanges: Role and Contribution
40:30 | AI and Middle Management
42:24 | Principles Over Rules
43:40 | Customer-Centric Business Models
45:13 | Idea of Subjective Value and Empathy
48:37 | Wrap - Up
