A parte I desta série começou com a revolta perante os que continuam a achar que um estado, um governo, um académico pode indicar o caminho para os empreendedores investirem sem risco, só porque detêm um suposto conhecimento superior. Spender, mais uma vez, volta ao ataque:
"it presumes the facts are (a) knowable, (b) relevant, and (c) available. Yet when relevant facts are available, the added value gets competed away unless the process is structured as both rent-yielding and sustained by non-economic forces. In which event the added value is perhaps more due to those political, cultural, or institutional forces rather than to economic ones; political shenanigans often lead to someone’s profit, which is why lobbying is so prevalent. But this book is about the private sector, the market economy, and the economic value that springs from (p) occupying a unique knowledge absence and (q) demarcating, operationalizing, and “owning” it via the exercise of entrepreneurial judgment.Trechos retirados de "Business Strategy - Managing Uncertainty, Opportunity, and Enterprise" de J.-C. Spender.
it is not the firm’s resources that matter; rather it is the management team’s knowledge about how to use them—and this knowledge is the source of firm’s idiosyncrasy, [Moi ici: Recordar o marcador "distribuição de produtividades" e a explicação para o facto de, num mesmo país, haver mais variabilidade no rendimento intra-sectorial do que no rendimento inter-sectorial] profit, and growth. My core proposition is that the firm is a unique human artifact, a particular act of the entrepreneurial imagination, partially reflecting the entrepreneur’s cognitive sense of the opportunity but ultimately her/his deeply practical and tacit knowledge, so resistant to rigorous analysis but able to occupy the instant of practice."