Summary of The Value of Entrepreneurship, with Philip Kotler

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Philip Kotler, whom The Wall Street Journal ranks among the six most influential business thinkers, describes several economic futures for the West and outlines strategies for achieving the rosiest outcome. Entrepreneurship is his main theme, though Kotler also boldly advises companies to move to Asia. getAbstract predicts you’ll find many of his ideas intriguing, such as the concept that schools should offer an MBC, or “master of business creation” degree.

In this summary, you will learn

  • Why the US and European economies are stalling,
  • How to fight stagnation with entrepreneurship,
  • Why the GPD alone isn’t a good measure of progress, and
  • Why the West’s capitalism may be consuming its democracy.
 

About the Speaker

Consultant Philip Kotler is a professor of international marketing at the Kellogg School of Management.

 

Summary

Economies in the United States and Europe will continue to lag. Their maturity means that many people have met their material needs, weakening the demand for goods. Instead, “experiences and services” draw consumers. Yet, relative to the manufacturing industry, productivity in the service industry is low, so growth stalls in a service-dominated economy. But in his book Abundance, innovator Peter Diamandis predicts that technology may change this future, ending hunger and poverty in mere decades. Unlike the United States and Europe, Asia is enjoying good economic growth. Companies should capitalize on the region...


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