Entrepreneurship for Professionals Tutorial-1 Answer the following questions 1. 1- Do you really think that entrepreneurs think effectually? What about yourself—do you sometimes think effectually? In...

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Entrepreneurship for Professionals
Do you really think that entrepreneurs think effectually? What about yourself do you sometimes think effectually? In what ways is it good? Then why are we taught in business classes to always think causally?
Entrepreneurs always must think effectually as their main motive is to use a non – traditional path which is innovative and creative by using a given set of inputs/means to achieve numerous ends. (Sarasvathy, D, Saras).
Yes, sometimes I do think effectually, rather all human beings do in order to produce something out of the box by analyzing their own skills, passion, resources, capabilities and insight collectively to secure a position for themselves in this competitive world.
It has its own positives which include innovation, flexibility, achieving something on your own, uniqueness, taking risks, and more importantly using all the means effectively and efficiently to achieve something which is not pre- determined.
There is a line of demarcation between managers and entrepreneurs, managers do follow a causal path where the level of risks are minimum and where a goal is already fixed for them and a proper choice among the given means has to be made to achieved that goal, and business classes follow this norm. They make managers not entrepreneurs. Entrepreneurs are the risk takers who set their own goals and succeeds by proper utilization of the given means.
Do you believe that ethics and social responsibility should be part of an entrepreneurship course or did the textbook authors just include a section on it to be “politically co
ect”?
Yes, it is an integral part of the course and it is not a matter of diplomacy
on part of the authors to include it in the cu
iculum. Corporate Social
Responsibility (CSR) and business ethics goes hand in hand as they look
after the community’s social causes and environmental issues along with
earning profits for the organizations. William Ford Jr. Chairman of the board
and CEO, Ford Motor Company is of the opinion that there is a difference
between a good and a great company, the former only provides quality goods
and services whereas the later provides quality goods as well as makes the
world a better place. Carla Fiorina, CEO, Hewlett Packard, says that the
company’s objective is to look after the profits as well as enhance the social
value. Corporates like Johnson and Johnson, Subway, IBM among others
uses several social initiatives like Cause promotions, Corporate Social
Marketing, Community Volunteering among others to spread awareness and
enhance the social value. These are all practical examples put forward by
leading entrepreneurs which proves that ethics and CSR are vitally important
issues that are to be studied under the entrepreneurship course.
What excites you about...