The 7 Ms of the Entrepreneur




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Deepak Kumar Gurung
Entrepreneur, India

The 7 Ms of the Entrepreneur

An entrepreneur basically manages 7M's, namely;
1. Men
2. Machines
3. Material
4. Money
5. Method
6. Message
7. Market.
 

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4
Kirk C. Heriot
Professor, United States
 

7 Ms is Missing an Important Element

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.

 
1
Deepak Kumar Gurung
Entrepreneur, India
 

7 M's is Missing an Important Element

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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