How do we present The Fundamentals of Business in such a way that this potential visitor and topical-reader has something they can take away and apply?
Yes, its probably a good idea that we clarify why this is important and something we can all learn from.
In the opening post in this thread, I mentioned the author of the book, "The Art of Learning" who was a master chess player and martial artist. He argued that he was able so thoroughly learn these seemingly different art forms through "mastering the fundamentals"
Therefore, I feel we can learn a lot if we can identify the fundamentals of business and see how they are applied. Perhaps identifying these fundamentals can reveal a new business strategy that we haven`t thought of yet because our knowledge of the basics is a little cloudy.
So we have already pointed out that a common goal of business is for the value of outputs to exceed the value of inputs--which can be related to profits, competition, staffing management, etc...
We have defined what is a business, which is something that exchanges value--so perhaps thinking of new or creative ways to exchange value might unveil new ways to be profitable.
We have covered that in order to justify a higher markup, we must deliver attributes with market perceived value...thus we can`t just charge a high price for a product without including some sort of valuable attribute with it.
And we are currently discussing change and its presence in business.
I think all of these concepts have many implications, and I believe identifying them and understanding them can help all of us come up with new and creative strategies, simply by understanding the basic concepts behind business.
Motivation for Entrepreneurs