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$Economics, $Entrepreneurship, $Ethics

The “E”S of Business

Daniel R. Hogan Jr. Ph.D.

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Economics, Entrepreneurship, Ethics, three subjects one does not often see addressed in one book. Yet upon reading and studying the different treatments, an overlap can be perceived and the interrelation of the three becomes evident for a successful business. The entrepreneur cannot live in isolation. To be successful and start, grow, and manage a profitable business with sustainability, he/she must be cognizant of all the factors that may impact (favorable and unfavorable) the business. In this regard a true internal locus-of-control, a firm belief that “if it is to be it is up to me” must exist. It is not enough to be expert in a particular line of business or trade. One must know the business-of-the-business. In so doing a working knowledge of the environment in which the business is to survive is essential. Besides the technical knowledge which may be necessary for operations, and besides the sales and marketing acumen possessed, the financial language of the business must be understood and constantly analyzed and monitored. As does the economic conditions of the market, industry, country, and the world; for all will have an effect on the future and success of the venture. Constant attention must be paid to government regulations and legislation. Ethical considerations and behavior must always be in the forefront of decision-making. In the final analysis the true entrepreneur is all alone. No matter how many key employees are hired, business partners and investors are acquired, advisors and consultants are made available, the founder and perhaps the CEO and COO for an extended period of time, can never delegate ultimate responsibility. It is therefore necessary to always be working on the business and not simply working in the business. A business person, founder, owner, manager, entrepreneur certainly does not deal with economics, entrepreneurship, and ethics in isolation. They are interwoven and necessary for every productive decision made. This book, $Economics, $Entrepreneurship, $Ethics, accompanying the others in the series, $The Entrepreneur’s Edge – Finding the Money, $The Entrepreneur’s Manager – The Business Man’s Business Plan, and $The Entrepreneur’s Guide – To Start, Grow, and Manage a Profitable Business, helps to fill the tool box necessary for every entrepreneur and business manager. “Entrepreneurship is based upon the same principles, whether the entrepreneur is an existing large institution or an individual starting his or her new venture singlehanded. The rules are pretty much the same, the things that work and those that don’t are pretty much the same, and so are the kinds of innovation and where to look for them. In every case, there is a discipline we might call Entrepreneurial Management.” Peter Drucker

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Guide, Entrepreneur