Oct 3, 2026 · 34 min · 9 segments
What do entrepreneurs actually create? Dr. Claude Kershner explores how skills, resources, and opportunities become customer value, workable businesses, and meaningful progress. This workshop covers…
And so if we think about entrepreneurship as a process of creating value through unique combination of resources to exploit opportunity, the process can be broken down into steps.
And this whole create value is a key concept that all of you hopefully can walk away from this bachelor's program understanding.
There's a lot of things when it comes to economics and social exchange theory and agency theory that have really helped business in a lot of ways because these thinkers have created these theories so we can understand systems and people.
And when we can apply that knowledge, then we can create value in the marketplace.
And when we create value in the marketplace, that helps customers, it helps people, it helps create profit, it helps everybody.
So it's a process of creating value through a unique combination, which is so, so fascinating.
How these entrepreneurs combine resources, their personal resources, their knowledge resources, their money resources, their people resources, their facilities resources, their assets, their trucks, their laptops, their whatever it is, how they can combine those, even their network.
their social resources, how they combine those things to create value matters.
So a process of creating value through combining unique resources to exploit an opportunity.
So there was an opportunity to save people time that we're sitting in traffic.
And so what Waze did was they helped exploit that opportunity to help people save time.
And all of us are the beneficiaries of this amazing entrepreneurial story of crowdsourcing people and their willingness to put information into a GPS.
I mean, even though it's kind of annoying, but I usually answer the question, like Google will pop up, like, is there still debris on the highway? And I'm like, yes, or, and it's usually right.
And so if we think about entrepreneurship as a process of creating value through unique combination of resources to exploit opportunity, the process can be broken down into steps.
And this whole create value is a key concept that all of you hopefully can walk away from this bachelor's program understanding.
There's a lot of things when it comes to economics and social exchange theory and agency theory that have really helped business in a lot of ways because these thinkers have created these theories so we can understand systems and people.
And when we can apply that knowledge, then we can create value in the marketplace.
And when we create value in the marketplace, that helps customers, it helps people, it helps create profit, it helps everybody.
So it's a process of creating value through a unique combination, which is so, so fascinating.
How these entrepreneurs combine resources, their personal resources, their knowledge resources, their money resources, their people resources, their facilities resources, their assets, their trucks, their laptops, their whatever it is, how they can combine those, even their network.
their social resources, how they combine those things to create value matters.
So a process of creating value through combining unique resources to exploit an opportunity.
So there was an opportunity to save people time that we're sitting in traffic.
And so what Waze did was they helped exploit that opportunity to help people save time.
And all of us are the beneficiaries of this amazing entrepreneurial story of crowdsourcing people and their willingness to put information into a GPS.
I mean, even though it's kind of annoying, but I usually answer the question, like Google will pop up, like, is there still debris on the highway? And I'm like, yes, or, and it's usually right.
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