Profiles

In his book, The Theory of Moral Sentiments, Adam Smith said of producers: "They are led by an invisible hand to make nearly the same distribution of the necessaries of life which would have been made had the earth been divided into equal portions among all inhabitants; and thus,...

In An Inquiry Into the Nature and Causes of the Wealth of Nations, Adam Smith described what he called the Invisible Hand - a metaphor to describe the...

Failure is a misnomer if we are referring to the human action involved in an entrepreneurial pursuit. A commonly held, although misleading notion, is that entrepreneurs often fail within the first few years in the marketplace. Often, I wonder why and how it happens that entrepreneurs fail only...

The writer of a recent Forbes article doesn’t want consumers making their own choices about what to buy and how much to buy. Instead, he provides a plan for consumers to avoid what he calls excess consumerism. In other words, what the writer suggests is essentially that...

It is preposterous to assume what customers say is more important than where they place their feet and the price they pay for products or services. The customer's mind is still elusive and challenging for entrepreneurs. If understanding the mind of the customer were easy, everyone would do it!...