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Get ready… Get set.. Go! for an all new episode of The 10 Count w/John Poz & RBV. The guys are chatting it up about the big Worlds Collide event, Money In the Bank, Works & Shoots The Universe demands The Truth, Favorite Masked Wrestlers and much more. Plus YOUR Pop of the Week…Follow the Two Man Power Trip on X & IG @TwoManPowerTripofWrestling & HMG on FB & X @HaminMediaGroup #WWE #NXT #TNA #AEW #ROH #OVW #ProWrestling #Headlines #News
In this exciting installment of The 10 Count, John Poz and RBV are talking Rock and Wrestling, Sports entertainment vs Pro Wrestling, WWF VHS vs NES Games, Bobby Heenan, Jesse Ventura, Hulk Hogan, and so much more. Plus your pro wrestling POP of the Week!Follow the Two Man Power Trip on X & IG @TwoManPowerTripofWrestling & HMG on FB & X @HaminMediaGroup #WWE #NXT #TNA #AEW #ROH #OVW #ProWrestling #Headlines #News
In this exciting installment of The 10 Count, John Poz and RBV are talking John Cena vs Ron Cena. WWE News. Saturday Night's Main Event. AEW Double Or Northing vs NXT Battleground. Plus your pro wrestling POP of the Week!Follow the Two Man Power Trip on X & IG @TwoManPowerTripofWrestling & HMG on FB & X @HaminMediaGroup #WWE #NXT #TNA #AEW #ROH #OVW #ProWrestling #Headlines #News
H speaks to Director of Culture Vannin Breesha Maddrell about a last chance to nominate someone for the RBV award, hears about new classes in the Guild Syllabus 2025 and catches up with author Rob Cowley who tells him about the success of his creative writing competition for youngsters
O período de Data Fifa deu espaço para mudanças importantes nos principais clubes do futebol europeu. Foram três demissões notáveis, duas delas ligadas diretamente com a Champions League. Nagelsmann foi substituído por Tuchel no Bayern, Graham Potter foi demitido no Chelsea e Conte saiu pela porta dos fundos no Tottenham. Os possíveis substitutos já estão sendo apontados. No campo, o Milan surpreendeu e goleou o Napoli com a volta do brilho de Leão, e o Real Madrid atropelou o Barcelona na Copa do Rey com atuação de almanaque do trio RBV. Tudo isso a uma semana das quartas da Champions. CONHEÇA O FOOTURE • Acesse o Site: https://footure.com.br/ • Footure Club: https://footure.com.br/footure-club/ • Loja Futeboleira: http://footure.com.br/loja • Cursos de Análise Tática: https://footure.com.br/footure-lab/ AS NOSSAS REDES SOCIAIS • Twitter: http://twitter.com/footurefc • Instagram: http://instagram.com/footurefc • Facebook: http://facebook.com/footurefc • LinkedIn: http://linkedin.com/company/footurefc
This is the last programme in this series of 'Shiaght Laa' and it's presented by Fiona McArdle, RBV. IOM Post Office has just issued a set of ten stamps to celebrate the 50th anniversary of the Manx Wildlife Trust with designs by MWT Artist in Residence, Clare Payne. We hear more about the work of MWT from Community Ranger, Hannah Phillips, including its role in The Manx Nature Show in Cathedral Isle of Man, about which Outreach and Education Manager of Manx Whale and Dolphin Watch, Jen Adams, reminds us. One of Florrie Forde's hit songs was 'Flanagan' from 1910. It brought a response from another Australian performer in Britain, Billy Williams, who in 1911 announced that 'I'm the Man that Buried Flanagan'. However, that can't have been true because Florrie Forde was able to say, 'Hello there, Flanagan!' as he returned to the Isle of Man in 1919.
We join the ceremony for the investiture of Shiaght Laa presenter, Fiona McArdle, as Reih Bleeaney Vanannan, the Island's highest cultural award. We hear from Breesha Maddrell, Director of Culture Vannin, and briefly from the Culture Vannin Chairman, Chris Thomas MHK, before we hear from Fiona herself. Moylley as soylley da Fiona McArdle, RBV! In association with a piano recital by George Todica, Pip Rolfe of the Erin Arts Centre has organized a masterclass earlier in the day in which George Todica will talk about his repertoire and his experience as a leading young professional musician. Monday 13th February is the deadline for entries to Aundyryn Kiaull Theay Vannin, the Manx Folk Awards, and we hear about that from Jo Callister of the Department of Education, Sport and Culture and from Chloe Woolley of Culture Vannin.
Hello and welcome to my show on Management Research! In this episode, we continue elaborating on the theoretical foundation necessary to understand the role of organisational capabilities (or competencies; similar to other scholars in the field, I use these terms as synonyms). In the current episode, I talk about the differences between RBV (our previous episode) and CBV. I hope you enjoy the show and learn to know your and your firm's capabilities better! Enjoy, subscribe, share, and comment - it does matter! Best, Eugene (Yevgen)
In our twenty-third episode, Ryan and Robbie talk about: Reviews and emails! Send us one: goinggreypod@gmail.com Oh, that's nice (20:50): When the party is over, your child's birthday, when your friend's kid loves you, nothing is wrong at the doctor, and Sunday breakfast. Who asked you? (37:42): To cut me off and then get mad because I was too close to your bumper, to carry mace while we walk after dinner, to make fun our oily foreheads, and to tell me to come back for an inspection Washed up (48:11): My knee, traffic, and RBV's Sports (54:18): Football/Fantasy Football talk Entertainment (01:01:42): House of the Dragon. Look for our weekly review/discussion episodes with Benny from UI on Thursdays. Also, quick discussion on She-Hulk and some other shows Hey, you want to talk about music? (01:08:30) Ryan shared 4 songs with Robbie... Coheed and Cambria: The Pavilion (A Long Way Back) Goodnight Radio: Sophia So Far R.A. The Rugged Man: Definition of a Rap Flow The New Amsterdams: Spoils of the Spoiled Storytime (01:17:49): Grandma was watching the bubbie channel! Thank you as always for your support, we love you. Goodnight Hugh Hefner!
Welcome to the full review of nights 1 and 2 OF "The Grandest Stage of Them All", "The Showcase of the Immortals", "The Show of Shows", "The Greatest Spectacle in Sports Entertainment", "The Super Bowl of Sports Entertainment", "The Granddaddy of Them All"... WrestleMania 38!!! RBV is your host for this very special Monday Locker-room but he is not alone! Joining Ric are The Vet and Big Ray Hernandez! The boys will break down both nights of action Hamin Media Group style! Opinions with a twist of humor and honesty you will only get here! We will also have the LIVE CHAT full of our friends and supporters! So sit back, relax and relive WRESTLEMANIA with us!
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down the Best Black Wrestler? They will discuss not only who deserves to be talked about as the Best Black Wrestler?, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is the Best Black Wrestler?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is Mr. AEW? They will discuss not only who deserves to be talked about as Mr. AEW, but also match quality, drawing power, carrying a show, level of importance, match records, and much more! This is a deep dive into Who is Mr. AEW?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down the Greatest Football Star Turned Wrestler?They will discuss not only who deserves to be talked about as the Greatest Football Star Turned Wrestler?, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is the Greatest Football Star Turned Wrestler?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down the Best Jewish Wrestler? They will discuss not only who deserves to be talked about as the Best Jewish Wrestler?, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is the Best Jewish Wrestler?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down the Best Wrestler to Fight in MMA? They will discuss not only who deserves to be talked about as the Best Wrestler to Fight in MMA?, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is the Best Wrestler to Fight in MMA?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down the Greatest Royal Rumble Winner Not to Headline WrestleMania? They will discuss not only who deserves to be talked about as the The Greatest Royal Rumble Winner Not to Headline WrestleMania?, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is the Greatest Royal Rumble Winner Not to Headline WrestleMania?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down the Greatest Royal Rumble performer? They will discuss not only who deserves to be talked about as the The greatest Greatest Royal Rumble performer, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is the Greatest Royal Rumble performer?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down The Greatest Japanese Wrestler? They will discuss not only who deserves to be talked about as the The greatest Japanese Wrestler, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is the Greatest Japanese Wrestler?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down The Greatest Gajin? They will discuss not only who deserves to be talked about as the The best gajin, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is The Greatest Gajin?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down The Greatest manager? They will discuss not only who deserves to be talked about as the The best manager, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is The Greatest Manager?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down The Greatest 4 Horsemen? They will discuss not only who deserves to be talked about as the The best 4 Horsemen but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is The Greatest 4 Horsemen?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down The Greatest theme Ever? They will discuss not only who deserves to be talked about as the The Greatest theme Ever, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is The Greatest theme Ever?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down The Greatest Feud Ever? They will discuss not only who deserves to be talked about as the The Greatest Feud Ever, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is The Greatest Feud Ever?
Strategic management theories and entrepreneurship theories have diverged in academia. One perspective can't recognize the other. Yet the most promising and successful new business approaches demonstrate an agile combination of both sets of theories. Professor Mohammad Keyhani joins Economics For Business to explain this phenomenon and help us point the way to the future of strategic entrepreneurship. Key Takeaways and Actionable Insights. In business school thinking, there is a dichotomy between strategic management and entrepreneurship. In management scholarship, strategic management and entrepreneurship are distinct fields of study. Professor Keyhani calls them “two logics” of business. Both logics have gained legitimacy from their origins in economics. As business theories, they base their arguments on models from the field of economics, which, of course, is older and more mature. By importing thinking from economics, these business disciplines are able to construct generalizable theories (as opposed to, for example, a case study approach). The most famous generalizable theory in strategic management is Michael Porter's five forces framework, which borrowed from industrial organization economics. Most strategic management theories have been based on general equilibrium models of neo-classical economics. Strategic management became a theory of structures and constraints, and of imperfections in equilibrium (such as the concept of competitive advantage). The entrepreneurship discipline has been more varied and diverse and less dominated by economic models. Entrepreneurship scholars look to Austrian economics, which is based on verbal logic rather than mathematical models. But Professor Keyhani, in his Ph.D. dissertation, found an integration route between strategic management and entrepreneurship using the framework of game theory, adding elements of time and dynamics (both critical in Austrian theory) and adding the innovation of computer simulation (to which more and more Austrian economists are open as a way of adding computable algorithmic rigor to verbal logic). He established a way for strategic management and entrepreneurship to communicate with each other. Strategic management is a theory of competitive structures. Strategic management models are based on models of competition among players with similar value propositions, maybe with slightly different cost structures and other small differences, but all considered as competitors to each other. The models look at the nature of the competition, the structure of the competition, and seek insights into why some companies may have advantages over others. Strategy becomes an approach of identifying and building on strengths, about sustaining and managing an existing system, about operations rather than innovation, and about control and prediction. The consequence is a series of blind spots, mostly to do with the dynamics of action over time, the uncertainty that accompanies action, and the learning that results. Entrepreneurship is a theory of dynamic value creation. The question in entrepreneurship is how to create value and how to build a value creation system in the first place. The entrepreneur faces the questions, “Am I creating any value at all? Is anyone going to pay for this innovation and be happy with it? And will I be able to get more customers?” These questions precede the models that strategy and strategic management theory have been based on. Those models start off with the entrepreneur's questions having been answered, so they are not useful at the value creation stage. Based on Austrian economics, the entrepreneurship literature has provided mental tools and mental models for entrepreneurial thinking and an entrepreneurial approach to business. These include the emphasis on subjective value and customer sovereignty, and on uncertainty and unpredictability in business. There is value in action in the face of uncertainty, because it creates new information, which can support better decision-making. That mechanism is totally lacking in the equilibrium models of strategy. Theories of entrepreneurial action to generate learning are useful not only for startups but also for larger companies, to help them think and act more entrepreneurially, and to counter the defensive and anti-innovative thinking of building on strengths and defending position. Managing an existing value generation system can result in losing the long-term perspective of innovation, adding new product lines, taking advantage of opportunities, and potentially building new strengths. “Do both!” The best approach combines strategy and entrepreneurship. Professor Keyhani argues that, ideally, firms think strategically and act entrepreneurially, and he recognizes that, in the real world of practitioners, this is what businesses do. He uses blockchain as an example. No company can say that they have an existing strength in blockchain because it's a new technology and the business concepts that utilize it are only just emerging. It's a level playing field. Are there any advantages a company could have? Maybe a company has a lot of computer scientists and mathematicians. That might be a slight strength. But getting into blockchain businesses is an entrepreneurial action, largely different than building on strengths. The approach to innovation we support here at Economics For Business is “Explore And Expand”, and Professor Keyhani sees a good match between the explore-expand dichotomy and the entrepreneurship-strategy dichotomy. Exploration is a blind spot in strategic management theory and modeling — there is pretty much no exploration in the five forces framework or the RBV (resource-based view) framework. Exploration — acting for the learning value to open up options for more things that can be done in the future — is the entrepreneurial way of thinking. Effectuation (covered in episode #131: Mises.org/E4B_131) is another form of entrepreneurial logic. It recognizes that the entrepreneur faces so much uncertainty that it may not be possible to set specific objectives. But the entrepreneur knows that they want to do something, that they have knowledge and resources and relationships, and that they may be able to create some value from them. Effectuation is the “fuzzy front end” of value creation. Another way to combine entrepreneurship and strategy is speed of learning. The general capability to be more adaptive than competition, to go through the learning cycle faster, is a dynamic capability that can be strategic. Competitive moats in the software world. Is the structure-and-constraints approach of strategic management useless in the digital era we live in? Sustainable competitive advantage seems to be inapplicable when anyone can write software (or download it from Github), and access hosting and storage at scale from AWS. But in fact, software entrepreneurs do think in terms of competitive advantage. The modern term for it is “moats”. Venture capitalists look favorably on businesses that can surround themselves with a moat to keep out competition. The most discussed moat is network effects. This concept did not come from the neo-classical economics equilibrium models, but from the dynamic analysis of more users coming in to join existing users. The five forces framework suggests that advantages lie either in cost or differentiation, but a network effects advantage can be both. Two-sided platforms with two-sided network effects add even more complexity. It's strategic to achieve that status, but the theory did not emanate from traditional strategic management thinking. Professor Keyhani introduces the next entrepreneurial strategy breakthrough: generativity. We talked in episode #104 (see Mises.org/E4B_104) about the new phenomenon of digital businesses identified by Professor Keyhani: generativity. Achieving generativity confers significant competitive advantage for any entrepreneurial firms who can develop it through technology. It's an advantage that is not identified by existing strategy theories. Generativity can be thought of as the automation of open innovation. Products and services can be designed to offer features that enable outsiders to innovate with them, and these outside innovations benefit the company. For example, the Google Pixel smartphone and the Apple iPhone are generative products or generative systems. With the tools these firms provide in the phones, outside developers can create new apps, that they offer on the Pixel or iPhone platform for other outsiders to use. The app developers make money, and so do Google and Apple, both from sales of outsider-developed apps in their app stores, and from in-app purchases. Google and Apple are not utilizing their own knowledge — they don't know the problem the app is solving, or even who developed it or where they are. They don't have to make the solution, don't have to take the risk, and don't have to pay salaries or development costs. Yet they profit from the innovation. It's a huge competitive advantage for these two entrepreneurial companies. Additional Resources "The Strategic Management Model versus the Entrepreneurial Model" (PDF): Mises.org/E4B_147_PDF "The Logic Of Strategic Entrepreneurship" by Mohammad Keyhani: Mises.org/E4B_147_Paper1 "Was Hayek an ACE?" by Nicolaas J. Vriend: Mises.org/E4B_147_Paper2 The ultimate list of tools for entrepreneurs—"Entrepreneur Tools" by Mohammad Keyhani: Mises.org/E4B_147_Tools
Strategic management theories and entrepreneurship theories have diverged in academia. One perspective can't recognize the other. Yet the most promising and successful new business approaches demonstrate an agile combination of both sets of theories. Professor Mohammad Keyhani joins Economics For Business to explain this phenomenon and help us point the way to the future of strategic entrepreneurship. Key Takeaways and Actionable Insights. In business school thinking, there is a dichotomy between strategic management and entrepreneurship. In management scholarship, strategic management and entrepreneurship are distinct fields of study. Professor Keyhani calls them “two logics” of business. Both logics have gained legitimacy from their origins in economics. As business theories, they base their arguments on models from the field of economics, which, of course, is older and more mature. By importing thinking from economics, these business disciplines are able to construct generalizable theories (as opposed to, for example, a case study approach). The most famous generalizable theory in strategic management is Michael Porter's five forces framework, which borrowed from industrial organization economics. Most strategic management theories have been based on general equilibrium models of neo-classical economics. Strategic management became a theory of structures and constraints, and of imperfections in equilibrium (such as the concept of competitive advantage). The entrepreneurship discipline has been more varied and diverse and less dominated by economic models. Entrepreneurship scholars look to Austrian economics, which is based on verbal logic rather than mathematical models. But Professor Keyhani, in his Ph.D. dissertation, found an integration route between strategic management and entrepreneurship using the framework of game theory, adding elements of time and dynamics (both critical in Austrian theory) and adding the innovation of computer simulation (to which more and more Austrian economists are open as a way of adding computable algorithmic rigor to verbal logic). He established a way for strategic management and entrepreneurship to communicate with each other. Strategic management is a theory of competitive structures. Strategic management models are based on models of competition among players with similar value propositions, maybe with slightly different cost structures and other small differences, but all considered as competitors to each other. The models look at the nature of the competition, the structure of the competition, and seek insights into why some companies may have advantages over others. Strategy becomes an approach of identifying and building on strengths, about sustaining and managing an existing system, about operations rather than innovation, and about control and prediction. The consequence is a series of blind spots, mostly to do with the dynamics of action over time, the uncertainty that accompanies action, and the learning that results. Entrepreneurship is a theory of dynamic value creation. The question in entrepreneurship is how to create value and how to build a value creation system in the first place. The entrepreneur faces the questions, “Am I creating any value at all? Is anyone going to pay for this innovation and be happy with it? And will I be able to get more customers?” These questions precede the models that strategy and strategic management theory have been based on. Those models start off with the entrepreneur's questions having been answered, so they are not useful at the value creation stage. Based on Austrian economics, the entrepreneurship literature has provided mental tools and mental models for entrepreneurial thinking and an entrepreneurial approach to business. These include the emphasis on subjective value and customer sovereignty, and on uncertainty and unpredictability in business. There is value in action in the face of uncertainty, because it creates new information, which can support better decision-making. That mechanism is totally lacking in the equilibrium models of strategy. Theories of entrepreneurial action to generate learning are useful not only for startups but also for larger companies, to help them think and act more entrepreneurially, and to counter the defensive and anti-innovative thinking of building on strengths and defending position. Managing an existing value generation system can result in losing the long-term perspective of innovation, adding new product lines, taking advantage of opportunities, and potentially building new strengths. “Do both!” The best approach combines strategy and entrepreneurship. Professor Keyhani argues that, ideally, firms think strategically and act entrepreneurially, and he recognizes that, in the real world of practitioners, this is what businesses do. He uses blockchain as an example. No company can say that they have an existing strength in blockchain because it's a new technology and the business concepts that utilize it are only just emerging. It's a level playing field. Are there any advantages a company could have? Maybe a company has a lot of computer scientists and mathematicians. That might be a slight strength. But getting into blockchain businesses is an entrepreneurial action, largely different than building on strengths. The approach to innovation we support here at Economics For Business is “Explore And Expand”, and Professor Keyhani sees a good match between the explore-expand dichotomy and the entrepreneurship-strategy dichotomy. Exploration is a blind spot in strategic management theory and modeling — there is pretty much no exploration in the five forces framework or the RBV (resource-based view) framework. Exploration — acting for the learning value to open up options for more things that can be done in the future — is the entrepreneurial way of thinking. Effectuation (covered in episode #131: Mises.org/E4B_131) is another form of entrepreneurial logic. It recognizes that the entrepreneur faces so much uncertainty that it may not be possible to set specific objectives. But the entrepreneur knows that they want to do something, that they have knowledge and resources and relationships, and that they may be able to create some value from them. Effectuation is the “fuzzy front end” of value creation. Another way to combine entrepreneurship and strategy is speed of learning. The general capability to be more adaptive than competition, to go through the learning cycle faster, is a dynamic capability that can be strategic. Competitive moats in the software world. Is the structure-and-constraints approach of strategic management useless in the digital era we live in? Sustainable competitive advantage seems to be inapplicable when anyone can write software (or download it from Github), and access hosting and storage at scale from AWS. But in fact, software entrepreneurs do think in terms of competitive advantage. The modern term for it is “moats”. Venture capitalists look favorably on businesses that can surround themselves with a moat to keep out competition. The most discussed moat is network effects. This concept did not come from the neo-classical economics equilibrium models, but from the dynamic analysis of more users coming in to join existing users. The five forces framework suggests that advantages lie either in cost or differentiation, but a network effects advantage can be both. Two-sided platforms with two-sided network effects add even more complexity. It's strategic to achieve that status, but the theory did not emanate from traditional strategic management thinking. Professor Keyhani introduces the next entrepreneurial strategy breakthrough: generativity. We talked in episode #104 (see Mises.org/E4B_104) about the new phenomenon of digital businesses identified by Professor Keyhani: generativity. Achieving generativity confers significant competitive advantage for any entrepreneurial firms who can develop it through technology. It's an advantage that is not identified by existing strategy theories. Generativity can be thought of as the automation of open innovation. Products and services can be designed to offer features that enable outsiders to innovate with them, and these outside innovations benefit the company. For example, the Google Pixel smartphone and the Apple iPhone are generative products or generative systems. With the tools these firms provide in the phones, outside developers can create new apps, that they offer on the Pixel or iPhone platform for other outsiders to use. The app developers make money, and so do Google and Apple, both from sales of outsider-developed apps in their app stores, and from in-app purchases. Google and Apple are not utilizing their own knowledge — they don't know the problem the app is solving, or even who developed it or where they are. They don't have to make the solution, don't have to take the risk, and don't have to pay salaries or development costs. Yet they profit from the innovation. It's a huge competitive advantage for these two entrepreneurial companies. Additional Resources "The Strategic Management Model versus the Entrepreneurial Model" (PDF): Mises.org/E4B_147_PDF "The Logic Of Strategic Entrepreneurship" by Mohammad Keyhani: Mises.org/E4B_147_Paper1 "Was Hayek an ACE?" by Nicolaas J. Vriend: Mises.org/E4B_147_Paper2 The ultimate list of tools for entrepreneurs—"Entrepreneur Tools" by Mohammad Keyhani: Mises.org/E4B_147_Tools
Strategic management theories and entrepreneurship theories have diverged in academia. One perspective can't recognize the other. Yet the most promising and successful new business approaches demonstrate an agile combination of both sets of theories. Professor Mohammad Keyhani joins Economics For Business to explain this phenomenon and help us point the way to the future of strategic entrepreneurship. Key Takeaways and Actionable Insights. In business school thinking, there is a dichotomy between strategic management and entrepreneurship. In management scholarship, strategic management and entrepreneurship are distinct fields of study. Professor Keyhani calls them “two logics” of business. Both logics have gained legitimacy from their origins in economics. As business theories, they base their arguments on models from the field of economics, which, of course, is older and more mature. By importing thinking from economics, these business disciplines are able to construct generalizable theories (as opposed to, for example, a case study approach). The most famous generalizable theory in strategic management is Michael Porter's five forces framework, which borrowed from industrial organization economics. Most strategic management theories have been based on general equilibrium models of neo-classical economics. Strategic management became a theory of structures and constraints, and of imperfections in equilibrium (such as the concept of competitive advantage). The entrepreneurship discipline has been more varied and diverse and less dominated by economic models. Entrepreneurship scholars look to Austrian economics, which is based on verbal logic rather than mathematical models. But Professor Keyhani, in his Ph.D. dissertation, found an integration route between strategic management and entrepreneurship using the framework of game theory, adding elements of time and dynamics (both critical in Austrian theory) and adding the innovation of computer simulation (to which more and more Austrian economists are open as a way of adding computable algorithmic rigor to verbal logic). He established a way for strategic management and entrepreneurship to communicate with each other. Strategic management is a theory of competitive structures. Strategic management models are based on models of competition among players with similar value propositions, maybe with slightly different cost structures and other small differences, but all considered as competitors to each other. The models look at the nature of the competition, the structure of the competition, and seek insights into why some companies may have advantages over others. Strategy becomes an approach of identifying and building on strengths, about sustaining and managing an existing system, about operations rather than innovation, and about control and prediction. The consequence is a series of blind spots, mostly to do with the dynamics of action over time, the uncertainty that accompanies action, and the learning that results. Entrepreneurship is a theory of dynamic value creation. The question in entrepreneurship is how to create value and how to build a value creation system in the first place. The entrepreneur faces the questions, “Am I creating any value at all? Is anyone going to pay for this innovation and be happy with it? And will I be able to get more customers?” These questions precede the models that strategy and strategic management theory have been based on. Those models start off with the entrepreneur's questions having been answered, so they are not useful at the value creation stage. Based on Austrian economics, the entrepreneurship literature has provided mental tools and mental models for entrepreneurial thinking and an entrepreneurial approach to business. These include the emphasis on subjective value and customer sovereignty, and on uncertainty and unpredictability in business. There is value in action in the face of uncertainty, because it creates new information, which can support better decision-making. That mechanism is totally lacking in the equilibrium models of strategy. Theories of entrepreneurial action to generate learning are useful not only for startups but also for larger companies, to help them think and act more entrepreneurially, and to counter the defensive and anti-innovative thinking of building on strengths and defending position. Managing an existing value generation system can result in losing the long-term perspective of innovation, adding new product lines, taking advantage of opportunities, and potentially building new strengths. “Do both!” The best approach combines strategy and entrepreneurship. Professor Keyhani argues that, ideally, firms think strategically and act entrepreneurially, and he recognizes that, in the real world of practitioners, this is what businesses do. He uses blockchain as an example. No company can say that they have an existing strength in blockchain because it's a new technology and the business concepts that utilize it are only just emerging. It's a level playing field. Are there any advantages a company could have? Maybe a company has a lot of computer scientists and mathematicians. That might be a slight strength. But getting into blockchain businesses is an entrepreneurial action, largely different than building on strengths. The approach to innovation we support here at Economics For Business is “Explore And Expand”, and Professor Keyhani sees a good match between the explore-expand dichotomy and the entrepreneurship-strategy dichotomy. Exploration is a blind spot in strategic management theory and modeling — there is pretty much no exploration in the five forces framework or the RBV (resource-based view) framework. Exploration — acting for the learning value to open up options for more things that can be done in the future — is the entrepreneurial way of thinking. Effectuation (covered in episode #131: Mises.org/E4B_131) is another form of entrepreneurial logic. It recognizes that the entrepreneur faces so much uncertainty that it may not be possible to set specific objectives. But the entrepreneur knows that they want to do something, that they have knowledge and resources and relationships, and that they may be able to create some value from them. Effectuation is the “fuzzy front end” of value creation. Another way to combine entrepreneurship and strategy is speed of learning. The general capability to be more adaptive than competition, to go through the learning cycle faster, is a dynamic capability that can be strategic. Competitive moats in the software world. Is the structure-and-constraints approach of strategic management useless in the digital era we live in? Sustainable competitive advantage seems to be inapplicable when anyone can write software (or download it from Github), and access hosting and storage at scale from AWS. But in fact, software entrepreneurs do think in terms of competitive advantage. The modern term for it is “moats”. Venture capitalists look favorably on businesses that can surround themselves with a moat to keep out competition. The most discussed moat is network effects. This concept did not come from the neo-classical economics equilibrium models, but from the dynamic analysis of more users coming in to join existing users. The five forces framework suggests that advantages lie either in cost or differentiation, but a network effects advantage can be both. Two-sided platforms with two-sided network effects add even more complexity. It's strategic to achieve that status, but the theory did not emanate from traditional strategic management thinking. Professor Keyhani introduces the next entrepreneurial strategy breakthrough: generativity. We talked in episode #104 (see Mises.org/E4B_104) about the new phenomenon of digital businesses identified by Professor Keyhani: generativity. Achieving generativity confers significant competitive advantage for any entrepreneurial firms who can develop it through technology. It's an advantage that is not identified by existing strategy theories. Generativity can be thought of as the automation of open innovation. Products and services can be designed to offer features that enable outsiders to innovate with them, and these outside innovations benefit the company. For example, the Google Pixel smartphone and the Apple iPhone are generative products or generative systems. With the tools these firms provide in the phones, outside developers can create new apps, that they offer on the Pixel or iPhone platform for other outsiders to use. The app developers make money, and so do Google and Apple, both from sales of outsider-developed apps in their app stores, and from in-app purchases. Google and Apple are not utilizing their own knowledge — they don't know the problem the app is solving, or even who developed it or where they are. They don't have to make the solution, don't have to take the risk, and don't have to pay salaries or development costs. Yet they profit from the innovation. It's a huge competitive advantage for these two entrepreneurial companies. Additional Resources "The Strategic Management Model versus the Entrepreneurial Model" (PDF): Mises.org/E4B_147_PDF "The Logic Of Strategic Entrepreneurship" by Mohammad Keyhani: Mises.org/E4B_147_Paper1 "Was Hayek an ACE?" by Nicolaas J. Vriend: Mises.org/E4B_147_Paper2 The ultimate list of tools for entrepreneurs—"Entrepreneur Tools" by Mohammad Keyhani: Mises.org/E4B_147_Tools
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Best NWO Member? They will discuss not only who deserves to be talked about as the Greatest NWO Member, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is the Best NWO Member?
SUBSCRIBE AND GET THE FULL SHOW AT www.channelattitude.com TODAY! It's Survey Time and on the MLR that's always one more for the bad guys RBV and HackerHamin! Do You Strongly Agree or Disagree with NXT Booking? What would you do Differently? Did Triad Combat create a buzz this weekend with Metallica and other big names? Hamin gives thanks to all of those who reached out after the weekend loss of one of The Dogs of War.
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Best Flock Member?They will discuss not only who deserves to be talked about as the Greatest Flock Member, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is the Best Flock Member?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is Responsible for the Montreal Screwjob? They will discuss everything that took place before, during, and after WWF Survivor Series Team 1997. This is a deep dive into Who is Responsible for the Montreal Screwjob?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is the Greatest Survivor Series Team? They will discuss not only who deserves to be talked about as the Greatest Survivor Series Team but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is the Greatest Survivor Series Team?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is Mr. ROH? They will discuss not only who deserves to be talked about as Mr. ROH, but also match quality, drawing power, carrying a show, level of importance, match records, and much more! This is a deep dive into Who is Mr. ROH?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is Hulk Hogan's Greatest Rival ever? They will discuss not only who deserves to be talked about as Hulk Hogan's Greatest Rival ever, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is Hulk Hogan's Greatest Rival?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is the Best Trainer ever? They will discuss not only who deserves to be talked about as The Best Trainer ever, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is The Best Trainer?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is the Best King ever? They will discuss not only who deserves to be talked about as The Best king ever, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is The Best King?
The new era for HTM rolls on as the HTM Podcast Network invasion by the Pro Wrestling Coalition continues with an all new edition of the Hitting The Marks Pro Wrestling Podcast as Jargo is joined by Jimmy T. & RBV to talk all about the latest in the world of professional wrestling. On the run: - HTM Podcast Network Update - WWE Draft Does Roman No Favors - How Good Is Kenny Omega? - Albertoooooooo - AJ Lee/Tessa Blanchard Return To WoW - Lance Storm vs Stinko Malenko Follow @HTMpwPOD @atmarkmedia @haminmediagroup
The new era for HTM rolls on as the HTM Podcast Network invasion by the Pro Wrestling Coalition continues with an all new edition of the Hitting The Marks Pro Wrestling Podcast as Jargo is joined by Jimmy T. & RBV to talk all about the latest in the world of professional wrestling. On the run: - HTM Podcast Network Update - WWE Draft Does Roman No Favors - How Good Is Kenny Omega? - Albertoooooooo - AJ Lee/Tessa Blanchard Return To WoW - Lance Storm vs Stinko Malenko Follow @HTMpwPOD @atmarkmedia @haminmediagroup
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is the Mount Rushmore of wrestling? They will discuss not only who deserves to be talked about as on the Mount Rushmore, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is on the Mount Rushmore of wrestling?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is the Best Actor ever? They will discuss not only who deserves to be talked about as The Best actor ever, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is The Best Actor?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is the Best Celebrity ever? They will discuss not only who deserves to be talked about as The Best celebrity ever, but also drawing power, carrying a show, level of importance, and much more! This is a deep dive into Who is The Best Celebrity?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is the Best Big Man ever? They will discuss not only who deserves to be talked about as The Best Big Man ever, but also match quality, drawing power, carrying a show, level of importance, match records, and much more! This is a deep dive into Who is The Best Big Man?
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is The Best Debut ever? They will discuss Kane, Shockmaster, Scott Hall, The Undertaker, The Nexxus, CM Punk, and so many others! This is a deep dive into Who is the Biggest Pop ever?Follow us on Twitter and IG @TwoManPowerTrip
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is The Biggest Pop ever? They will discuss Hulk Hogan, Steve Austin, CM Punk, The Road Warriors, and so many others! This is a deep dive into Who is the Biggest Pop ever?Follow us on Twitter and IG @TwoManPowerTrip
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is Mr. NXT? They will discuss not only who deserves to be talked about as Mr. NXT, but also match quality, drawing power, carrying a show, level of importance, match records, and much more! This is a deep dive into Who is Mr. NXT?
On today's John Poz vs., it's John Poz vs RBV. John sits down with the HMG Podcast host and Producer to talk about the 50+ WWE releases in 2021, create our own rosters, start up our own promotion, discuss today's current product, and so much more! Since debuting in January 2015 and named one of RollingStone.com's “18 Pro Wrestling Podcasts To Follow”, The Two Man Power Trip of Wrestling has become a strong content provider in the podcast medium. Host John Poz conducts the most in depth interviews in the entire genre of Professional Wrestling. Now he's bringing his interviews to Vince Russo's The Brand with a new series called "John Poz vs." where he will interview the top names and stars in and around the wrestling business.
Welcome to a Special Edition of the Two Man Power Trip with host John Poz along with his co-hosts RBV Richard Bronson Vickrey and Michael Jargo. Poz, Jargo, and RBV are breaking down just Who is Mr. Summerslam? They will discuss not only who deserves to be talked about as Mr. SS, but also match quality, drawing power, carrying a show, level of importance, match records, and much more! This is a deep dive into Who is Mr. Summerslam?
#036. Arguably one of the greatest Father - Son coaching teams in California, and maybe the nation. Joe and Herb Meyer have spent their entire football coaching careers in San Diego, California. Herb is on the "Mount Rushmore" of California high school football with 338 total wins (only three coaches have accomplished this to date) and 10 CIF titles in his career that spans from 1959 - 2003. The Southern California Football Coaches Association has an award named after him called the "Herb Meyer Distinguished Service Award"Coach Herb Meyer Coaches Choice library of football videos/clinics.Joe Meyer:Was a Gilman Gear West Coast RepServed at the Terry Donahue California Showcase as a QB Coach from 2016-2020Coached with his Dad, Herb, at El Camino HS from 1984-2003 and won 6 CIF titlesAfter El Camino, Joe went on to coach at Rancho Buena Vista High School from 2004-2006 as the Offensive Coordinator and Quarterbacks Coach. Then went back to coach at RBV from 2014-2019 and serve as the Head Coach and Offensive Coordinator where they made the playoffs 3 out of the 4 years.From 2007-2009 Joe coached at Army and Navy Academy in Carlsbad as the Middle School Math Teacher and Athletic Director. He also was the Offensive Coordinator and Quarterbacks coach. In his time there he helped coach the team into winning their first League Championship in 22 years!Joe also coached at Scripps Ranch High School from 2010-2014 as the Athletic Director and the Heach Coach/Offensive Coordinator.Twitter: @FBCoachMeyerHerb Meyer:Herb served as the Head Football Coach at Oceanside and El Camino High Schools from 1959 to 2003. Over his illustrious career, Herb garnered three hundred and thirty- eight victories, winning ten CIF Championships. His career has been decorated with countless awards. He was named the National Coach of the Year by the High School Coaches of America in 1975. In 1978, Herb was named the National District eight Coach of the Year by the National High School Athletic Coaches Association. In 2003, he received the All-American High School Coach Award from the All American Football Foundation. Herb was named the California State Coach of the Year three times: in 1978 by the National High School Coaches Association and the California Coaches Association; and in 1991 by CalHi Prep Sports. In 1995, Coach Meyer received the National Federation of High Schools Association's Citation Award and the State CIF Distinguished Service Award. This is just a short list of awards and recognition that Coach Meyer has earned over his career. When he retired in 2003, Herb had won the most games in California and was the first to reach three hundred victories. He remains the only coach to gain one hundred wins at two different schools and is the only coach in the San Diego Section to win ten CIF Championships.
On this episode we are joined by RBV legend, USD basketball All-time leading scorer, Johnny Dee. Join us as we discuss the determination required on the path to becoming elite and the pivotal role that faith plays in his life. There are common denominators amongst all successful people. By the end of the episode we hope that you are prepared and ready to live a life that is more fulfilling and ultimately preparing you for success across all boundaries. --- Support this podcast: https://podcasters.spotify.com/pod/show/succ3ssbound/support
Austrian Capital Theory holds that capital assets are heterogeneous and complementary. In business language, that means an entrepreneur can assemble set of assets that are special to his or her firm and combined in such a way that the combination is unique, or at least hard to copy. If the assets generate consumer value, and hence a revenue stream from consumer purchases, then the entrepreneurial firm can be said to have marketplace advantage—it is unique or advantaged in its creation of consumer value. The Resource-Based View (RBV) of the firm came from this thinking. The marketplace advantage available to any firm results from its assembled resources (synonymous with assets for the purposes of our discussion). We talk to Professor Steven Phelan, Distinguished Professor at Fayetteville State University, an expert in this field. Note: The conventional language of RBV is competitive advantage. At Economics For Entrepreneurs, we prefer the idea of the search for uniqueness, where the point of reference is the consumer rather than the competitor. Therefore, we'll use terms like marketplace advantage and commercial advantage. Show Notes Resource-based strategic thinking guides entrepreneurs in the identification, assembly and use of resources in unique (or at least differentiated) ways to create sustained marketplace advantage. The use of resources is how entrepreneurs create revenue flows from consumers. The money-value of the resources—and hence the market value of the firm—derives from these revenue flows. The goal is to align the resources as perfectly as possible with consumer wants and preferences. Entrepreneurs who combine consumer-valued resources in unique ways can establish an advantage in the marketplace. If their combination of resources is unique, or at the very least hard to copy, then the advantage is sustainable and the revenue flows can be anticipated to continue absent changes in consumer preferences. What kind of resources are we talking about? All kinds, both tangible and intangible, and both physical capital and human capital. It's the combination that counts. A handy acronym for the kinds of resources available for entrepreneurs to combine is PROFIT: Physical, Reputational, Organizational, Financial, Intellectual and Human, and Technological resources. It's a good exercise to review your resources under each of these headings and question whether they are unique and hard to copy. Reputational, Organizational and Intellectual (Human) resources are the most usual sources of uniqueness (in the VRIO framework, “unique” translates into valuable, rare, hard to copy / inimitable and non-substitutable). Reputational resources can include brand, customer satisfaction levels and trust. Organizational resources can include processes, methods, and culture, and also includes the bundles of resources we call capabilities. Intellectual resources include people (always unique), teams, decision rights, as well as patents and recipes. Sustainable advantage is reinforced when other firms can't see inside the “black box” of the combination of resources and can't reproduce the “secret sauce”. It might be the case that your Physical, Financial and Technological resources are not differentiated, or even rare. The “secret sauce” is in how you combine them, and especially how you combine them with Reputational, Organizational and Intellectual resources. If outsiders can't see inside, and can't decipher the combination or copy the recipe, you can separate yourself in the consumer's perception as a unique choice. How you deploy the resources can also be a source of advantage. Operational excellence can be differentiating and value-creating. If you can guarantee customers and suppliers that you'll operate with excellence in all directions—on time, on budget, high responsiveness—you'll create an advantage over other firms that don't keep their promises. Think of this as a bundle of resources that you deploy really well. The business literature sometimes calls it “core competence”. High quality, consistent operations do not come easily. This capability is also a resource. Dynamic flexibility can be thought of as a bundle of capabilities around detection of and action in response to the need for change. Austrian economics stresses marketplace dynamics and the role of entrepreneurs in detecting and responding to changes in consumers' wants and preferences. Such agility does not come easily to the firm. It requires “sensing” the uneasiness of consumers and using empathic diagnosis to identify the source of the uneasiness, and creativity and imagination in rearranging resources to produce new offerings. Organizationally, the entrepreneur must make the change occur—ready the organization for the adjustment and orchestrate individuals and functions to shift. It's a rare capability. Implementing the resource-based strategy is a continuous activity. Winning entrepreneurs shuffle and reshuffle resources continuously. Professor Phelan urges entrepreneurs to ask this question every day: what can we do better? Ask it in every resource area of the PROFIT framework. Gather information that tells you where you need to improve or change (You can use a template like SWOT—Strengths, Weaknesses, Opportunities, Threats; but make sure your use of it is deeply analytical and not just a laundry list of what you do). And then execute the hard part of dynamic flexibility: taking rapid action. This is the advantage of small companies and entrepreneurs. Additional Resource Resource-Based Theory of Entrepreneurship (PDF): https://Mises.org/E4E_18_PDF Useful books mentioned by Professor Phelan Entrepreneurship Strategies and Resources by Marc J. DollingerThe E-Myth Revisited by Michael E. GerberCrossing The Chasm by Geoffrey A. Moore
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