Week 2 Reading Reflection

Chapter 1 of Entrepreneurship: Theory, Process, and Practice by Donald F. Kuratko

1.     The biggest surprise for me in the reading that stood out more than anything was that every myth written in the chapter, was ones I had either previously believed or ones that I couldn’t believe were myths in the first place. I expected the texts in this chapter to say starting a business will be very hectic due to a lot coming with it, but I was proven wrong. In recent years, there have been more start-up companies than ever before, and that proves every myth in the chapter wrong. I say this because not everyone has money, a structured life, lucky, or even fits the profile, because most entrepreneurs start with one little step and take it slowly to create bigger steps.

2.     One part of the reading that was confusing to me was the Strategic Formulation School of Thought. I don’t understand how this approach to an entrepreneurial theory emphasizes the developmental success of an entrepreneur. The elements are more understandable, but the mountain gap strategy, great chef strategy, better widget strategy, and water well strategy, all confused me.

3.     If I were able to ask two questions to the author, I would ask, “Futuristically, do you think entrepreneurs will run the business industry, or will corporate companies?” I would also ask, “Is right now the biggest time for entrepreneurs in the market industry or will they still be succeeding in the future?

4.     I don’t feel the author was wrong about anything he spoke about because every fact or statement made sense and had an example to follow. Donald F. Kuratko stated main points on what the how the success of an entrepreneur comes about and the strategies that come along with it. I agreed with most of his myths, but did not agree on Myth 5: Entrepreneurs Must Fit the Profile because I feel there is not a profile amongst all entrepreneurs, but a common goal and that is to succeed while starting your own business. Of course motivation follows that, but there isn’t and will never be one specific profile.