EN 200 - Reflective Journal # 2

Published Feb 16, 2014

2 Posts

In your opinion, what is the difference between an entrepreneur and a leader?

Entrepreneur is a person who is innovative, takes ideas further, sees an opportunity and has the ability to create a new business.According to Cantillon (cited in Parker, 2004)defined entrepreneur as one who conducts exchange and bears risk as a result of buying certain prices and selling at uncertain ones. To be an entrepreneur, risking money, and time is inevitable but has the strong desire to start a business through his ideas, careful planning, hard work, and sees the possibility of achieving success and profit in a business regardless of the risk.A leader is one who plans, directs and implements to achieve goals using the resources and people around him/her Plans carefully to avoid risk and not to fail. Leader rank above the others and acts as role model.

What are the determinants of successful entrepreneurship? Explain one.

Successful entrepreneurship depends mostly on how you plan, what you do, how you manage and how you are projecting or marketing your business image.In a business operation, human capital, financial capital and social capital are determinants of successful entrepreneurship.All these determinants are very important in the business arena but talking about human capital, it describes the entrepreneur's age, education and experience.It relates to the "intrinsic qualities and is thought to have a positive influence on the success of starting entrepreneurs".Knowledge through education may not be the reason to be successful but mature age and educated with the knowledge and experience in a business contribute to a successful entrepreneurship.

How would you explain Gandhi's statement; "The program of a country depends not mass production but on the production of the masses".

Mass production is the production of goods in large quantities frequently utilizing machinery or a modernized technology.In Gandhi's statement, it is understood that the people must not depend on mass production because it is capable of supplying goods with no limit in which there will be no enough market for these goods and the tendency is to stop production.Instead he prefers that what tools the people own they need to use to produce goods, focusing on a simple but reliable and continuous production.Better to have many sustainable small businesses around the country than to have big business but very few.

References: 1. www.tinytechindia.com/gandhiji2.html

2. www.willamette.edu/~fthompso/mgmtcon/mass-Production.html

3. www.asrn.org/journal-advanced-practice-nursing/271-nurse-practitioners-as-entrepr...

4. Determinants of Successful Entrepreneurship by: Niels Bosma, Mirjan Van Prag and Gerrit de Wit; June 2000.