Episode Details

Following principles of business administration is the path to disaster for your business or any business. Yet business administration is what’s taught in business school and revered as the highest goal of management. We need to change how we think about business, which requires changing our mental model.

Entrepreneurial leadership is the new mental model..

In Part 2 of the special 3-part series of The Value Creators Podcast featuring the alternative approach to the business administration methods taught in MBA school, Venture Mode, Hunter Hastings and co-author Mark Packard continue their exposition of what comes after traditional business administration. Together, they examine how business schools institutionalize bureaucracy, why reform from inside the system is nearly impossible, and how administration mode crowds out entrepreneurial leadership.

They introduce a radically different alternative: the Master of Business Enterprise (MBE)—a new model of business education grounded in entrepreneurship, experimental learning, uncertainty, and real-world value creation. The conversation explores why customers—not processes or analytics—must be at the center of business thinking, and why skills like empathy, judgment, creativity, and tenacity are essential for navigating uncertainty.

This episode challenges long-held assumptions about business models, what business education should teach, who it should serve, and how entrepreneurial leaders are truly developed.

Key Insights:

• Why the MBA reinforces administration mode and systematically underproduces entrepreneurial leaders.
• How exploration, discovery, and customer-centered value reshape business education.
• Why entrepreneurship must be learned through practice, empathy, and real-world experience.

Resources:

➡️ Learn What They Didn’t Teach You In Business School: The Value Creators Online Business Course

Connect with Mark Packard on LinkedIn

Get the book "Venture Mode: Escape the Administration Trap"

Connect with Hunter Hastings on LinkedIn

Subscribe to The Value Creators on Substack

Chapters:

00:00 – Why Business Schools Produce Administrators, Not Entrepreneurs
02:10 – How the MBA Institutionalizes Administration Mode
04:50 – Why Accreditation Prevents Real Reform
07:15 – Introducing the Master of Business Enterprise (MBE)
09:50 – Subjectivism, Customers, and Value Creation
12:45 – Why Entrepreneurship Cannot Be Reduced to Checklists
15:40 – Teaching Empathy, Judgment, and Creativity
19:20 – Learning Entrepreneurship Through Practice
23:30 – Who Is the Real Customer of Business Education?
31:45 – The Future of Entrepreneurial Leadership