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 #38. Prof Mark Packard On the Future Of Business Education
Entrepreneurship can be learned via philosophy and principles: cultivating an entrepreneurial mindset, fostering adaptability, and problem-solving skills, and embracing dynamic market processes.
Mark Packard, Professor Of Business And Entrepreneurship at Florida Atlantic University and Director of the Madden Center for Value Creation, contrasts entrepreneurial business education with traditional business paradigms. An entrepreneurial curriculum focuses on dynamic market processes and the pivotal role of the entrepreneur in the capitalist market system. Mark proposes experiential learning, where students engage with real-world challenges, fostering adaptability and problem-solving abilities crucial in today's rapidly changing business landscape.
Mark emphasizes the broader impact of entrepreneurial thinking, spanning industries such as healthcare, where innovative models like direct primary care challenge established norms. By integrating philosophical insights and subjectivism, entrepreneurial education can cultivate a mindset of continuous learning and value creation. Mark underscores the importance of introspection and experimentation in breaking free from conventional thinking patterns. Ultimately, the conversation highlights the transformative potential of entrepreneurial education in fostering innovation, adaptability, and societal change across all sectors.
Resources:
Connect with Hunter Hastings on LinkedIn:
Connect with Mark Packard on LinkedIn:
Check out The Value Creators Online Course by clicking here.
FREE PDF: 26 Ways To Think Better about Business.
Mark Packard: Entrepreneurial Valuation: An Entrepreneur’s Guide To Getting Into the Mind of Customers
Show Notes:
0:00 | Intro
0:18 | The Next Management: Reinventing Management for the Digital Age
6:33 | Subjectivist Thinking: Shifting Mindset for Business Innovation
7:46 | Prioritize Customer Experiences over Finances
9:59 | Reverse Engineering
12:01 | Systems Thinking Approach: Business Role in the Customer's Lives
15:14 | Applying Austrian Economics in Business Education
18:47 | Austrian Theory was Always Focused on Complexity
20:21 | Marsha's Degree in Business
22:19 | Learning Experience
24:14 Can AI Simulations Foster Dynamic Entrepreneurship?
26:25 | Transforming Company Culture Through Entrepreneurial Hires
31:32 | Core Principles: Understanding Value, Empathy, Creativity
34:14 | Full Use Cycle
35:53 | Empowering Diverse Skill Sets for Business Impact
35:54 | History/Philosophy Grads Excel with a Value Creation Mindset
40:05 | Revolutionizing Healthcare Through Value-Driven Practices
41:37 | Wrap-Up
