Nick De Los Santos
CWID: A20317844
Professor Trost
EEE- 2083-30940
January 30, 2023
Module 01 Essay
What is an entrepreneur? An entrepreneur could be anything. It is not fair to put an assigned name on someone who holds that title. Granted, an entrepreneur is a person, but it is such a broad word. On page 2 of "Who is an Entrepreneur Is the Wrong Question," it talks about the trait approach in discovering what an entrepreneur is. It states that being an entrepreneur is a personality trait, which I found very interesting because I never thought of it that way. An entrepreneur was always someone who began something.
As stated in the reading, multiple events may lead to new creations. I never thought it could be something as simple as a trait; however, Now that I have been presented with these new ideas, I can somewhat see and think of why this could be true. Now that you have become what you study and put yourself in front of. Work and craftsmanship become a trait, right? This is how it is personally making sense within my head, and I could be misjudging this but is that not the beauty of the human mind and entrepreneurs in general? Nobody thinks the same, maybe to an extent but not down to the dot.
Moving forward, the next reading (In Search of the Meaning of Entrepreneurship) explains the reasoning behind the word and what it offers to us as a society. What and why is entrepreneurship such a highly talked about topic? One of the reasons listed in the reading suggests that it could do with the average annual rate of labor and how it has steadily declined throughout the years. Because of this was the rebirth of entrepreneurship, and with it came new employment positions for others in society. President Ronald Reagan later stamped this as the "Age of the Entrepreneur." Now, is that not something? A person with ideas giving others motivation, along with their unique ideas becoming something more than themselves.
Another thing that caught my eye in this reading was the human capital approach to entrepreneurship. T.W. Schultz was a believer in the equilibrium method. This is new to me, and I was unaware of such a thing until reading. However, it is the idea of developing equilibrium models to break down entrepreneurship as a whole. On page seven of this reading, there is a part where it details T.W. Schultz's theory. It states that the "theory of entrepreneurship attempts to discriminate between the disequilibria faced by firms, households, and individuals, to trace out supply functions for the useful ability to deal with disequilibria. Supply, in this sense, "depends upon the stock of a particular form of human capital at any point in time and on the costs and the rate at which the stock can be increased in response to the rewards derived from the services of these abilities" (herbert-Link, 1988, p. 7). It is relatively attractive, and what shocks me is that all of this stuff is said to be the nature of entrepreneurship.
There will always be different opinions on the same or multiple topics. Everyone or most people likely have other thoughts regarding a topic of conversation. Hints that is the very reason conversations take place. Anyways, what makes entrepreneurs entrepreneurial? Well, the answer I would personally give you is… They are entrepreneurial by considering all business factors and finding ways to be successful using business methods and ideology. This particular paper was interesting in thinking you know the answer to something and a new idea being thrown in front of you. I learned that predetermined goals begin with casual rationality in a situation. This is where your framework is laid down to achieve the primary goal.
Along with casual rationality comes effectual reasoning. What is effectual reasoning? It is problem-solving that can be controlled through human action. It allows different ideas to emerge and become something more than they already are. Ever wonder how some things come to be? I know I have, yet these same methods are how. Of course, there are more difficulties, but this is the foundation. Everything in this world needs a foundation; foundations are not built by sitting and doing nothing. Entrepreneurs do entrepreneurial things to allow new ideas to form.
Citation
In search of the meaning of entrepreneurship - UNCG. (n.d.). Retrieved January 31, 2023, from https://libres.uncg.edu/ir/uncg/f/A_Link_In_Search_1989.pdf
(PDF) ' ((who is an entrepreneur?" is the wrong question - researchgate. (n.d.). Retrieved January 31, 2023, from https://www.researchgate.net/publication/237360637_'_Who_Is_an_Entrepreneur_Is_the_Wrong_Question
Sarasvathy, S. (1970, January 1). [PDF] what makes entrepreneurs entrepreneurial?: Semantic scholar. Social Sciences Education eJournal. Retrieved January 30, 2023, from https://www.semanticscholar.org/paper/What-Makes-Entrepreneurs-Entrepreneurial-Sarasvathy/fd7fe8b65fa2bf5dbefb9cf7047fd3ada259b9f9