Pragmatism is a philosophical and action-oriented attitude or part of a mindset that is particularly important for entrepreneurs, as it fuels the act of creation (as opposed to reflection) and thus creates momentum. In practice, this means that decisions are made based on their practical implications and outcomes. For entrepreneurs who develop and implement conceptually creative entrepreneurial designs, it is essential to use pragmatic decision-making processes that are not only theoretically sound but also effective in the real world.
Key aspects of pragmatism for entrepreneurs:
- Adaptability: Pragmatic entrepreneurs quickly adapt their strategies and products to respond to market changes and customer feedback (or potential customer feedback during the design phase). They avoid sticking to rigid plans that can quickly become obsolete in the dynamic business world.
- Solution-oriented: Instead of concentrating on problems, pragmatic entrepreneurs look for practical solutions. This requires creativity and the ability to think outside the box.
- Results-oriented: A pragmatic entrepreneur's actions are always geared towards achieving concrete and measurable results. This includes a deep understanding of market mechanisms and customer behaviour.
Charles Sanders Peirce, one of the pioneers of pragmatism, emphasised that the value of an idea or a theory lies in its practical consequences.
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Last updated on 3/12/2025.
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