Week 2 Reading Reflection

After reading Chapter 1: Entrepreneurship: Evolutionary Development – Revolutionary Impact, the most surprising and interesting section was Myth 10: Entrepreneurs are extreme risk takers. Although I am not familiar with a large aspect of entrepreneurship, I have always been fairly confident that entrepreneurs continuously take risks. This part of the chapter, states that risk is a major element in entrepreneurial process but the public’s perspective on this risk is distorted. The entrepreneur works on a calculated risk, rather than gambling. I had not previously taken this into consideration, always thinking that the concept of an entrepreneur meant to take extreme risks in order to succeed. However, one part of the reading that was somewhat confusing to me what the descriptions of the Schools-of-Thought Approaches to Entrepreneurship. The branches of the micro views of entrepreneurship causes me the most confusion, specifically the concepts under Strategic Formulation School of Though. The idea that this is the planning process is very clear, however, the unique markets, people, products, and resources were very confusing at first. After multiple in depth reads, I understand that these are just the various elements that are a part of the strategic formulation.

If I were given the opportunity to ask a question to the author, I would ask him what inspired him to write about entrepreneurship. For years, I wanted to become a writer so understanding why people write about what they do is very intriguing. Another question I would ask is for him to go more in depth in describing the impact of entrepreneurial ventures. He stated, “Entrepreneurs will continue to be the answer to any economic downturn, and they will continue to lead economic growth in several different ways.” As a possible entrepreneur, I would love to know the impacts and products of entrepreneurs continue to affect and benefit society.

I cannot say that I disagree with anything the author said. He was very objective, and therefore, he did a great job of describing what the reader needs to take from the book. He made this chapter very easy and enjoyable to read.