Peter Klein on Means and Ends

There are some economic principles that can help entrepreneurs in their business-building endeavors. One is the understanding of ends and means. What ends (goals, objectives) are your customers pursuing, and how do they choose the means to achieve those ends? The customer is in charge of choosing ends, and the entrepreneur takes charge of offering the most attractive and valuable means. How do entrepreneurs solve that equation? We asked Peter Klein (Mises.org/Klein). Peter is Professor of Entrepreneurship at Baylor University’s Hankamer School of Business. He is also Senior Research Fellow at Baylor's Baugh Center for Entrepreneurship and Free Enterprise and Adjunct Professor of Strategy and Management at the Norwegian School of Economics. He knows ends and means.

Hosted by Hunter Hastings, Economics For Entrepreneurs is a weekly podcast focused on helping the real life, flesh-and-blood entrepreneur succeed. Mises.org/EntrePod

Show Notes: https://mises.org/library/peter-klein-means-and-ends

The Means-Ends Chain Tool: https://mises-media.s3.amazonaws.com/Means-Ends.pdf

The How-To-Use-It tool: https://mises-media.s3.amazonaws.com/How%20to%20Use%20The%20Means-End%20Chain%20Tool.pdf