Market-Driven Management as Entrepreneurial Approach
Keywords:Globalisation, Market-Driven Management, Entrepreneurial Management, Theories of the Firm, Market-Space Competition, Competitive Customer Value
Entrepreneurship is traditionally considered as an ‘outward-looking’ phenomenon. Entrepreneurs initiate change by identifying and starting new trading opportunities, related to improved versions of existing commodities or new product
or service concepts, which have been until then unknown to other agents. Market-driven management is not posited to be an alternative to entrepreneurial management, a surrogate or even a better substitute to entrepreneurship. They are, rather, two different theoretical constructs that can be fully integrated.
Value creation and appropriation within the market is the node of the relationship between entrepreneurship and market-driven management.
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