In my reading of the first chapter, Entrepreneurship: Evolutionary Development-Revolutionary Impact, there was a distinction made early on in the first chapter that surprised me. The section discussed entrepreneurs versus small-business owners. The explanation was very interesting and showed that the primary difference between the two was simple. Small-businesses "are not dominant in their fields, and usually do not engage in many new or innovative practices" (pg 3). On the other hand, entrepreneur's "principal objectives are innovation, profitability, and growth" (pg 3). Essentially both people work for a profit but small-businesses are focused on constant profit and minimal growth while entrepreneur's want high profit and heavy growth.
One part of the reading that was confusing to me was on pages 7-8. The author was discussing nine myths about entrepreneur's. The ninth one titled, Most Entrepreneur's Initiatives Fail, discussed how more than 50% of the initiatives succeed but many still failed. I feel like this was a confusing statistic as I would have expected the percentage to be close to 60-70.
If I could ask the author two questions the first would be if entrepreneurial firms are the economic solution for recessions, downturns, and challenges in other capitalistic countries other than the U.S. Secondly I would ask in what field that the most successful entrepreneurial firms are found, may it be technology, sports, etc.
I thought the author was correct in most everything he said and had research to back his claims.
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