The main aim of this study is to explain and propose a complementary rhombus, based on Renée Bédard’s (2003, Los Fundamentos del Pensamiento y las Prácticas Administrativas: El rombo y las cuatro dimensiones filosóficas. AD-MINISTER, pp. 68–88) proposal, that supports entrepreneurial activity and could serve to identify and develop the competencies that entrepreneurs must display in today’s competitive market. Bédard proposed a rhombus with four philosophical dimensions (praxeology, axiology, ontology and epistemology); she considered them as the foundations of administrative thinking and practices. Her proposal was aimed, among other things, at facilitating the understanding of the place of the human being in the field of studies and administrative practices. However, she did not take into account undertaking activities. Due to the changes that the markets have experienced, entrepreneurs face the need to have a broader and more complex vision of the reality that surrounds them to influence it successfully, which is why the theoretical approach of the Bédard’s rhombus has been taken to develop. This study has used a qualitative methodology, supported by documentary analysis and deductive reasoning, to propose a more comprehensive rhombus. Additionally, this study explores the integration of both approaches—Bédard’s rhombus and the complementary rhombus proposed by the researchers—as a way to base administrative thinking and practices from the perspective of entrepreneurship.