The 7 Ms of the Entrepreneur

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The 7 Ms of the Entrepreneur
Deepak Kumar Gurung, Member
An entrepreneur basically manages 7M's, namely;
1. Men
2. Machines
3. Material
4. Money
5. Method
6. Message
7. Market.
 

 
7 Ms is Missing an Important Element
Kirk C. Heriot, Member
The 7M view looks at the entrepreneurial firm as a business that must be managed after it has been created.
It largely ignores the opportunity recognition (entrepreneurial alertness) that is so critical to the process of entrepreneurship. The 7 m's could just as easily be applied to the management of any organization.
 

 
7 M's is Missing an Important Element
Deepak Kumar Gurung, Member
Thanks for the valuable insight.
In my view, the 7th M takes care of the opportunity recognition. This 7th M here broadly implies:
- The physical market,
- The virtual market,
- The consumer mind,
- The consumer need,
- The market opportunity, etc.
 

 







 

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