Week 2 Reading Reflection

1) What really stood out to me in this reading was the distinction between entrepreneurs and small-business owners. In my opinion, I thought they were always one in the same; however according to the text small businesses do not generally engage in innovative practices compared to entrepreneurial ventures which have the sole objective of innovation. Apparently the perspectives of small business owners and entrepreneurs differ in the sense of the development and growth of their firms. I figured they were generally one in the same because my parents started their own small business, so I also figured they were entrepreneurs for doing so, but now I see that their business is just one dental office and not some large rapid growing dental chain that is creating new ways of dental care.

2) One confusing aspect of the reading was the explanation on the two different process approach models that exist for examining the activities involved in entrepreneurship. Both processes are based of theories from researcher’s different models and ideas, so the processes themselves are not full fact but rather a trusted system the book is explaining to the reader. I see that for the integrative approach there are a lot more inputs and outcomes compared to the simpler dynamic states approach that instead is using the logic of the managers which leads to business success. I just would like to understand the two models in a real life situation, that way I could see the differences more clearly.  

3) I would first ask the author why did they only include the entrepreneurial thought process of Americans and no examples of a foreigners thought process? I would like to know how the entrepreneurial process works in other countries, and perhaps they could be used here in the States. My second question would be why the author used strictly entrepreneurial ventures that have been done in the United States and not examples that have been used globally. I would like to further understand the global standpoint on how impactfull entrepreneurship really is.  

4) I believe myself not to be fully qualified enough to say if the author was wrong about anything, but I can say I had a different perspective on some things. For instance, when the author was discussing the seventh myth that all entrepreneurs need is luck, they used the quote, “luck happens when preparation meets opportunity”. I agree with it, but I could argue that simply being prepared to deal with situations that have not occurred yet or have even been innovated yet seems rather difficult and unrealistic. One may be as prepared as possible when it comes to knowledge that is happening right now, but there is no way for someone to be prepared for any situation in the future; so sometimes you really do need luck.