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Penn State MBAOK
Personal MBA Masterclass

Here is my integration of the concepts in this course with my own experience in the working world and in the MBA courses at Penn State.

Josh Kaufman begins the course by stating that the MBA programs are now too expensive and do not show how to run a business.  I agree, but they weren't supposed to do that in the first place.  My impression was to bring technical knowledge to the table at the start of the career. 
Surely, I'd never heard about the five fundamental principles of running a business.  I concentrated in operations management, which meant to keep costs down.  At the time, we were trying to compete with the Japanese, who had taken over the Demming method of operations.  As Robert Kiyosaki of "Rich Dad, Poor Day" would say, they taught us to be employees, not entrepreneurs! 
The simplest way to explain the five principles would be that there is one which stands out the most.  I do not wish to expose too much of this course, so I will leave it at that point.
In the middle of the first disc, and there is a workbook with the course, we learn (or rather were reminded of) The Iron Law of the Market.  The rest of the discussion elaborates on this law, which is based upon common sense.  The segment of how to test a market gives a concrete example.
Along the way, there are five core human drives.  I think it's one of my weaknesses.  In two of the five, I tend to ignore the drives, which places me out of the market.  I  think I have what Milton Friedman called the mentality of "the permanent economic class".
Finally, there are ten ways to evaluate markets, a checklist.  It provides a guide toward starting a business. 

In Progress