The 7 Ms of the Entrepreneur

12manage is looking for students / contributors...

Entrepreneurship > Forum Log in

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.



  Do you wish to study further? You can learn more from the summary, forum, discussions, lessons, courses, training, instructions, expert tips, best practices and education sources. Register.  

Special Interest Group Leader

You here

More on Entrepreneurship
Best Practices

Expert Tips


About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2018 12manage - The Executive Fast Track. V14.1 - Last updated: 16-8-2018. All names of their owners.