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
Replacing the MBA: Venture Mode, Entrepreneurship, and the Future of Business Education
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Following principles of business administration is the path to disaster for your business or any business. Yet business administration is what’s taught in business school and revered as the highest goal of management. We need to change how we think about business, which requires changing our mental model.
Entrepreneurial leadership is the new mental model..
In Part 2 of the special 3-part series of The Value Creators Podcast featuring the alternative approach to the business administration methods taught in MBA school, Venture Mode, Hunter Hastings and co-author Mark Packard continue their exposition of what comes after traditional business administration. Together, they examine how business schools institutionalize bureaucracy, why reform from inside the system is nearly impossible, and how administration mode crowds out entrepreneurial leadership.
They introduce a radically different alternative: the Master of Business Enterprise (MBE)—a new model of business education grounded in entrepreneurship, experimental learning, uncertainty, and real-world value creation. The conversation explores why customers—not processes or analytics—must be at the center of business thinking, and why skills like empathy, judgment, creativity, and tenacity are essential for navigating uncertainty.
This episode challenges long-held assumptions about business models, what business education should teach, who it should serve, and how entrepreneurial leaders are truly developed.
Key Insights:
- Why the MBA reinforces administration mode and systematically underproduces entrepreneurial leaders.
- How exploration, discovery, and customer-centered value reshape business education.
- Why entrepreneurship must be learned through practice, empathy, and real-world experience.
Resources:
➡️ Learn What They Didn’t Teach You In Business School: The Value Creators Online Business Course
Connect with Mark Packard on LinkedIn
Get the book "Venture Mode: Escape the Administration Trap"
Connect with Hunter Hastings on LinkedIn
Subscribe to The Value Creators on Substack
Chapters:
00:00 – Why Business Schools Produce Administrators, Not Entrepreneurs
02:10 – How the MBA Institutionalizes Administration Mode
04:50 – Why Accreditation Prevents Real Reform
07:15 – Introducing the Master of Business Enterprise (MBE)
09:50 – Subjectivism, Customers, and Value Creation
12:45 – Why Entrepreneurship Cannot Be Reduced to Checklists
15:40 – Teaching Empathy, Judgment, and Creativity
19:20 – Learning Entrepreneurship Through Practice
23:30 – Who Is the Real Customer of Business Education?
31:45 – The Future of Entrepreneurial Leadership
