Disciplined Entrepreneurship Compare and Contrast Article Review

Excerpt from Article Review :

These include: formulating a hypothesis, assembling resources and designing / running experiments. The combination of these elements will provide a way of accurately assessing the underlying amounts of risk. Moreover, it will help to identify procedures that will allow entrepreneurs to continually innovate. (Sull, 2004, pp. 71 -- 77)

According to Soto, this is in line with his basic function of an entrepreneur. Evidence of this can be seen with him saying, "This idea fits perfectly with the activity that exercises the employer to decide what will be their actions and to estimate the effect of the same in the future. Being alert, although it is also acceptable as a note of entrepreneurship by involving the idea of attention or vigilance, I believe it is something less appropriate than the adjective 'insightful' or 'perspicacious', perhaps because it implies or involve an attitude clearly more static. On the other hand, we must bear in mind that there is a great similarity between the perspicacity which is to manifest the historian when selecting and interpreting the relevant facts of the past that interest him and the perspicacity which is to manifest the employer in connection with the facts it believes will occur in the future." (Soto, n.d.)

This is illustrating how the basic definition and idea of entrepreneur, is someone who can accurately assess the risks and test new ideas to deal with these challenges. The Interactive Experimentation Model is a good way of achieving these larger objectives by evaluating the strategy for its effectiveness. Then, once it works, is when it can be implemented within the organization itself. This is what entrepreneurs do, to identify areas that will provide them with: the best returns and the least amounts of risk. (Sull, 2004, pp. 71 -- 77)

References

Soto, J. (n.d.). Business Function and Perspicacity

Sull, D. (2004). Disciplined Entrepreneurship.…

Sources Used in Document:

References

Soto, J. (n.d.). Business Function and Perspicacity

Sull, D. (2004). Disciplined Entrepreneurship. MIT Sloan Review, 71 -- 77.

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