Scholarly Journal Reflection

1. The Psychology of the Entrepreneur

- What advice does the author have for the entrepreneur?

There is more scientific psychology studies in this article more than advice to the entrepreneur. The article starts by clearly separating the differences between a manager and an entrepreneur. An entrepreneur is an individual who is able to innovate and manage. However, this definition of the entrepreneur and the distinction of innovation is characterized by three psychological factors entrepreneurs seem to possess. All entrepreneurs seem to have a high "need for achievement" which flows into 1) a personal prefernece for responsibility on decisions, 2) are moderate risk takers as a function of skill, and 3) possess concret knowledge on the results of decisions. The entrepreneur definition is not clearly defined but characterized by these traits throughout the article.

- How might you use this advice now or in the future?

What I particularly took from this article was the definition of the entrepreneur as a manager and innovator. If you read the first couple paragraphs of the article, innovation is what separates the manager - whether it be a new product or service, or a new way to do something. I just might use this knowledge in the future to understand my own characteristics of entrepreneurship. Take responsibility for decisions, take only moderate risks, and know the results of your decisions.

- How might we learn from the gaps/flaws in this article? What does this article ignore?

This article does seem to ignore the other types of entrepreneurs. Although it is common characteristics that these entrepreneurs may have with eachother, many are not that way. The article is very broad. What about those entrepreneurs that made it and are huge risk takers? What is a bit disappointing and is part of the mystique of the subject is that there is no real answer or reason for entrepreneurial success. There are common characteristics but no real answer. Understand going forward that the characteristics of an entrepreneur can be unique and you may have your own style.

Brockhaus, Robert H., Horwitz, Pamela S.
The Psychology of the Entrepreneur. The Art and Science of Entrepreneurship (1986): 25-48
http://books.google.com/books?hl=en&lr=&id=xDe6ilkLCggC&oi=fnd&pg=PA260&dq=entrepreneur&ots=T6G1rUXpdg&sig=VWR5j8aS77Y-L_bbh4s71DwvEeU#

2. The Heart of Entrepreneurship

- What advice does the author have for the entrepreneur?

The entrepreneur needs to overcome one of the hardest things when becoming an entrepreneur - the necessity of change. People become so reliant on easiness of the norm but an entrepreneur spearheads the necessity of that change. The entrepreneur needs to also find what resources and needs they will need. This includes: resource needs, social needs, and external control limits. Also, how to control resources as efficiently and with the most stability possible. How to structure your entrepreneurial venture - which considers how to use resources, the need for flexibility, or an employee's desire for independence. All of these factors can relate back to how an entrepreneur creates a venture.

- How might you use this advice now or in the future?

It is important to identify how to spearhead an entrepreneurial venture and how to break the norm and push change, understand the resources, and structure a venture. This can be used right now with pushing change with any kind of lifestyle or academic/professional activity you participate in. Change forces new ways of thinking or different approaches. Resources play out into everyday life as well - like money, one of my scarcest resources. Structuring a venture can be easily translated into structuring your life and adulthood. All of this can be mirrored into everyday life.

- How might we learn from the gaps/flaws in this article? What does this article ignore?

I actually liked this article. It mentioned some good points of information. The one thing this article is missing is it is a bit incomplete. There are so many aspects that play into entrepreneurship. This only touches on some broad issues an entrepreneur may face - and in this example, the heart of the entrepreneur or what is considered the real life of the entrepreneur. This article is part of a large book about entrepreneurship and I believe some other components of entrepreneurship may be answered along the way.

Stevensen, Howard H., Gumpert, David E.
The Heart of Entrepreneurship. Design and Manage Your Career. Chapter 7.
http://books.google.com/books?hl=en&lr=&id=UuDbmDjy3BoC&oi=fnd&pg=PA89&dq=entrepreneur&ots=gX7Sp_LMHo&sig=pmqDlkXO6aA8J259dfpi4GTcO7k#v=onepage&q=entrepreneur&f=false