Reading Reflection Week #4

Nothing really was much of a surprise to me in this chapter as I have either read or heard about most everything in it. However, I was not aware of the Start-up Chile program and was interested in its concept. What I did see in reading this portion is the opportunity for someone to become a somewhat of a liaison officer between the 14 different countries and Chile as the article mentioned one problem was a language barrier. If you could come up with a solution to this issue, you would be in high demand.  

I am familiar with company structures but had never heard of the L3C. I was confused as to why other states besides the few mentioned have not passed legislation to permit this type of business entity, even though it has national applicability.

My first question I might ask the author is if he thinks if it would be more feasible to go work in a global job before trying to embark on a global entrepreneurial venture. I ask for one reason because there is so much uncertainty in a foreign market and it would seem to make sense to understand culture and social norms before throwing caution to the wind and possibly failing. Next, I would like to ask how one would go about thinking of entering the global marketplace in light of the unstable world in which we live. Moving to foreign country today is not as safe or stable as we might want before taking the plunge and moving to some foreign land.

I can’t say I saw anything about this chapter about which I thought the author was wrong. I am not an entrepreneur expert, however, what might have been more productive is having some, or more, pros/cons of becoming a global entrepreneur. Entrepreneur’s are already dreamers so it might be good to present both sides of the coin. 

Top 5 World Problems – Week #4

Ranked: Most Serious to Least Serious

1.      Fiscal Crisis

§  Problem:​ A global financial meltdown would affect the livelihoods of everyone. In fact, the global financial bubble has burst. It reflects the greatest regulatory failure in history.

➢   Solution: If I knew the solution to this problem, I would be rich! Most economists seem to agree that tax cuts do provide a stimulus to the economy. It provides more flexibility to those who want to save more or spend more, they can.

2.      World War (Nuclear Proliferation and potential threat of nuclear terrorism)

§  Problem:​  ​The global community has become interdependent, with the constant movement of people, ideas and goods; We have walked through a door that cannot be re­entered.

➢Solution:​ ​Our approaches to national and international security must be in keeping with the reality in which we live. ​But I would emphasize at the outset that, while much of our work must begin locally and regionally, we must not forget to think globally, because ultimately the existence of a nuclear threat anywhere is a threat everywhere, and as a global community, we will win or lose this battle together.

3.      Overpopulation

§  Problem:  ​ Once human population exceeds the carrying capacity, we have reached an undesirable overpopulation condition as it creates a depletion in natural resources and a degradation of the environment, as well as a rise in unemployment and the equilibrium price will change based on supply and demand.

➢   Solution: Education – sex education and family planning, as well as information on efficient birth control.

4.      Freshwater Crisis

§  Problem: As human populations grow, so will the problem of clean freshwater availability. One-fifth of the world’s population live in areas of water scarcity.

➢   Solution: Improvements in the efficiency of water use and water conservation through better planning, management and technologies.

5.       Sustainability

§  Problem: Resource scarcity in conjunction with an ever-growing population is still proving to be a major unsolved global challenge that should require more attention.

➢    Solution: Education is the best way to support and nurture a new generation of environmentally conscious citizens.

Justification: My choice come from a practical mindset. The last financial crisis led to large accumulations of debt, both public and private, and in fact, was caused by excessive debt. If our economy collapses everyone would be affected. Although there is a global financial crisis, we must begin at home to resolve our own issues. The other issues are basically global in scope, and while we could do our part, we would only be a portion of the world’s solution. All of the other problems, even though there is a global financial crisis, take collaboration and in a globalized world, it is hard to come up with standards that are going to fit every country or industry.

Top 5 World Problems – Week #4

Ranked: Most Possible to Implement to Least Possible to Implement

1.      Solution: If I knew the solution to this problem, I would be rich! Most economists seem to agree that tax cuts do provide a stimulus to the economy. It provides more flexibility to those who want to save more or spend more.

2.      Solution:​ ​Our approaches to national and international security must be in keeping with the reality in which we live. ​But I would emphasize at the outset that, while much of our work must begin locally and regionally, we must not forget to think globally, because ultimately the existence of a nuclear threat anywhere is a threat everywhere, and as a global community, we will win or lose this battle together.

3.      Solution: Education – sex education and family planning, as well as information on efficient birth control.

4.      Solution: Improvements in the efficiency of water use and water conservation through better planning, management and technologies.

5.      Solution: Education is the best way to support and nurture a new generation of environmentally conscious citizens.

Justification: Tax cuts would work for several reasons: private individuals and businesses use money more efficiently than governments do, and high taxes discourage work and investment. 

As a sidebar: the only real solution to our financial crisis and financial problems in general is to pressure the government to repeal the Federal Reserve Act of 1913 and demand that Congress again be allowed to create and control the money of our nation, as stated in Article I of the US Constitution. This is the simplest solution to implement from the problems/solutions listed above. It takes no collaboration of other nations or organizations. 

Reading Reflection Week #3

1.    It is quite fascinating to read the dynamics of the entrepreneur, however in the chapter, The Entrepreneurial Mind-Set in Individuals: Cognition and Ethics, I was surprised to see the author associate the failure of an entrepreneur venture with grief. It is easy to understand the grief of losing a family member or friend, the failure of a marriage or the diagnosis of a terminal disease, but I never anticipated seeing a chapter on 'the grief recovery process' in an entrepreneur textbook.

2.    When the textbook stated, “….we have to choose from our own codes of conduct,” I couldn’t help but remember photos of handcuffed executives from such powerhouses as World Com, Enron, and Tyco, and last but by no means least, Bernie Madoff, whose sweetheart deals and gross misconduct made clear the importance of ethics in business. So, while the statement above isn’t confusing in and of itself, it does make one question as to whether our own personal ethics in business is enough to produce effective leaders. Former CEO of Hewlett-Packard and current Presidential Candidate, Carly Fiorina, points out that ethics is all about the art of navigating the slippery slope; you have to draw a line for yourself and stick to it. But, for those without a strong set of ethics, such as the above examples who demonstrated a lack of guideposts when they found themselves in a situation that challenged them morally, the only outcome was to find themselves sliding rapidly downhill.

3.    The two questions that I would like to ask the author would be as follows:

·         Understanding that we have embraced failure as an entrepreneurial trait, at what point would you say stop trying and get a real job? I know someone who continues to come up with good entrepreneurial ideas only to see one failure after another; self-deception that everything will turn out seems to prevail.

·         What’s in your wallet? The real question would be: how do you find venture capitalists with battle scars to help grow your business. I ask this question because most ideas are worthy of some kind of investment, but are they worthy of a venture investment.

4.    President Reagan’s favorite Russian saying regarding arms-control agreements - doveryai, no proveryai, “trust, but verify” - sounds like great watchwords for entrepreneurs. Basically, this is a simple slogan during the cold war calling for political transparency. The textbook describes ‘a sense of distrust’ as a dual-edged sword, and although I agree that mistrust in any relationship  creates conflict, I also believe trust can be conceived through verification.  Honest, ethical behavior, and a willingness to exchange information are critical when deciding whom to trust. I would say that entrepreneurs do not completely trust their counter-parties, leading to a sense of distrust; most expect and forgive lapses in judgement, though less tolerant of malicious intent.

Identifying Local Opportunities – Week 3

Opportunity Knocks #1

Title: Beyond the Classroom: Money, sex and school? More than a Necessity

Web link: http://infoweb.newsbank.com/resources/doc/nb/news/15A7E6B7D4038900?p=AWNB

Synopsis: The article was a recap of the last ¾ of a century’s sex education in America and the effectiveness of school-based sex education programs. Although we have spent the last 75-plus years with some type of sex-education in the schools, the U.S. still leads the developed world in teen pregnancies. Of course, there is always a cause and effect, and in this case, excessive, unprotected teen sexual activity has produced a disparate number of sexually transmitted diseases (STI’s). Moreover, the mere topic of sex-education in the public schools is polarizing – most acknowledge the importance of sex-education, yet the pendulum swings from those who feel the schools need to teach sexuality education to those who believe such a comprehensive topic should be taught in the home.

Problem: Teens in the U.S. are far more likely to give birth than in any other industrialized country in the world and sex education in the schools is vital to combat the ever-growing epidemic.

Who Has the Problem: All of us feel the reverberations of teen pregnancies. Not only is it a colossal cost to taxpayers, the high rate of teen births has an impact on the future workforce as well as enormous economic consequences.

Opportunity Knocks #2

Title: $9.2 million Tree Program in Orange Aims to Spruce Up Roads

Web link: http://infoweb.newsbank.com/resources/doc/nb/news/15A7459B98515F50?p=AWNB 

Synopsis: This article recounts the endeavors and future plans of Orange County’s $9 million project that will change the aesthetics of almost 100 miles of roadway. It doesn’t mention in this article that there is any ecological benefit to planting the trees, just that they think it will make them look more inviting. It would also seem by the article that this idea has been volleyed around to many entities, but at last, the county is going to bite the bullet and foot the bill.

Problem: Who will bear the cost of this multi-million dollar project?

Who Has the Problem: While it is true both residents and visitors would benefit from a beautification of the roadways and it adds value to the land, the only ones who have a real problem are the county commissioners.

Opportunity Knocks #3

Title: Disney Bypassing Courts with Time-share Foreclosures

Web link: http://infoweb.newsbank.com/resources/doc/nb/news/15A7ABC1B901C3E8?p=AWNB

Synopsis: Winner and losers – sounds a little like a country song, but in this article it is the end result of the Walt Disney Company’s timeshare foreclosures. This article is specifically telling how Disney is bypassing the foreclosure court and expediting the process. It is a system of convenience for Disney and is billed as having features that favor both parties.

Problem: New systems for handling Disney’s timeshares gives more control to Disney and makes it tough for bidders at auctions who want to win deeds and flip them.

Who Has the Problem: I personally don’t see Disney as having a problem at all – just an inconvenience of a judicial foreclosure. However, the more control Disney has, the more impact it has on those wanting to bid for the properties. The underlying problem to me is the hundreds of deeds that go into foreclosure each year. But, that’s for another post. 

Opportunity Knocks #4

Title: Port Tampa Bay Focused on Growing Cargo, Sharing Business Growth with Port Manatee

Web link: http://infoweb.newsbank.com/resources/doc/nb/news/15A83CA88FFF7198?p=AWNB

Synopsis: Port Tampa has an unwavering commitment to growing its cargo trade as well as investing in the future potential international shipping customers.         The CEO have promised to build expand the facilities in order to accommodate more international cargo. The article paints a clear picture of the company’s vision to embrace trade with Cuba, once the long-awaited trade embargo has lifted. Moreover, their plans to take full advantage of the expanded canal sets them up to reap the rewards of effective planning for future growth, sustainable. 

Problem: While aggressive growth is key to surviving downturns in the economy, and Port Tampa appears to have a roadmap for future success, I would be cautious in expansion based on trade with Cuba – which may not come as swiftly as they would like. Moreover, it sounds good that the two ports can work in tandem to create mutual success for everyone, competition is the heartbeat of capitalism and as long as they can keep it in perspective, they may be a good combination. In biology, if two mouse species tries to occupy the same niche in a meadow, they would be in conflict and one would win and the other would die off.

Who Has the Problem: In biology, if two mouse species tries to occupy the same niche in a meadow, they would be in conflict and one would win and the other would die off. The reason one brand fails and another wins is that which separates one from the other.  In this article, there could be a lot of winners - port constituents, domestic and international shipping customers, as well as both business entities. The loser would be the one who does not understand what it takes to grow their brand.  

    Opportunity Knocks #5

Title: Once Again, Hillary is Playing the Wrong Role

Web link: http://infoweb.newsbank.com/resources/doc/nb/news/15A84DA5001B0DC8?p=AWNB

Synopsis: The article listed above is in essence a strategist’s view of the media image and persona Presidential candidate, Hillary Clinton, should be creating for herself. It is an interesting article on how Hillary is marketing herself as a ‘groundbreaking granny’ and other metaphors to describe how women are so different than men yet, at the very time voters are looking for strength and courage. Moreover, the article gives the impression that Hillary, while wanting to be seen as the only qualified candidate for the POTUS, is acting like a sad, little victim crying about misogynistic comments. The overarching message from this article is you that don’t Hillary is running the wrong race – when the nation is looking to embrace a candidate that is authentic and accountable.

Problem: Hillary is the problem. By that I mean the author feels she has flip-flopped from her 2008 Presidential bid, to garner the support of the liberal voters.

Who Has the Problem: Hillary Clinton has the problem; however,  it makes voters wonder if she will say anything and act any way to get elected - which then has an effect on all of us. 

Entrepreneur Interview #1 – Week 3

My entrepreneur friend, Jamie O’Rourke, was a star running back at Vanderbilt University. His time on the field cultivated the necessary mentality to become a successful entrepreneur. As a collegiate athlete, his daily routine created the mental toughness to psychologically endure under pressure; practical business knowledge and skills were acquired later through experience and self-education.

During any given football game, a running back may rung the ball, catch a pass, or block an opposing player; at times, they may even throw a pass or kick the ball. Jamie ignored the obstacles in his way, on and off the field, and kept the end zone in site. When one of his young children got a Roller Racer – a human-powered vehicle for children – which had been created by a retired Boeing engineer for his grandson, and realized people were willing to pay more for it than it would cost him to sell,he purchased it.  His mastery of marketing resulted in WHAM-O buying the Roller Racer for millions.

To put this in perspective, WHAM-O is a 68-year-old company that also is known for the Hula Hoop, Frisbee and other popular toys.  From these meager beginnings, Jamie went on to open a toy company, Kidpower, in Brentwood, Tennessee.

1.     What three pieces of advice would you give to college students who want to become entrepreneurs?

·         Create personal needs

o    Jamie: I did this by getting married having children (9), because entrepreneur’s personal and business goals are inextricably linked. 

·         Avoid partners

·         Find a way

2.     What would you say are the top three skills needed to be a successful entrepreneur?

·         Uncommon sense

o    Jamie: I would define 'uncommon' sense as being a rarified form of common sense! Some might take this to mean luck or providence, but uncommon sense to me means that you are flexible and can adapt quickly and easily to new circumstances.  

·         Passion  

·         Vision

Reflection: My family and the O’Rourke’s have been friends for over 25 years and time changes a person. Coming from his success and fame (in Nashville) as a star football player, with a dynamic personality, Jamie had an air of arrogance about him that while a boon to his entrepreneurship, did little in the way of relationships. However, after a failed marriage and death of a child, Jamie no longer appears arrogant, but rather has a humility that demonstrates self-confidence and wisdom. 

World's Biggest Problems Week 3

World's Biggest Problems ­ Week 3 

1.    Long term stability of regional (terrorists) hotspots

v  Problem:​ ​ ​What domestic conditions would cause a citizen of one country to commit a terrorist attack against another country? T​he regimes of terrorist hotspots are human rights abusers. No other factor is such a reliable predictor of terrorist activity. ​They do not treat their minorities as equal citizens while opposing foreign military intervention. 

➢ Solution:​  Although the promotion of economic development and democratic reform are worthwhile goals in and of themselves, and should figure prominently in US foreign policy, a more efficacious counterterrorism policy might be the promotion of human rights, the enhancement of civil rights and political integration for minority groups, and a more selective application of the use of force abroad.

2.     Immigration (Migrant and Refugee)

v  Problem:​ People are fleeing areas plagued by warfare, famine, disease, poverty, instability and persecution, however, the host countries who pay the cost of medical, housing, food and other expenses, are breaking the backs of the taxpayers who must foot the bill.

➢ Solution:​ ​Stop the bleeding until there is an effective plan of immigration reform. We cannot pursue a comprehensive approach that would have us do every reform idea all at once ­ much like Obamacare, (and we know how that has turned out).

  

3.    ​World War (Nuclear Proliferation and potential threat of nuclear terrorism)

v  Problem:​  ​The global community has become interdependent, with the constant movement of people, ideas and goods; we have walked through a door that cannot be re­entered.

                      ➢ Solution:​ ​Our approaches to national and international security must be in keeping                              with the reality in which we live. ​But I would emphasize at the outset that, while                                  much of our work must begin locally and regionally, we must not forget to think                                  globally, because ultimately the existence of a nuclear threat anywhere is a threat                                  everywhere, and as a global community, we will win or lose this battle together.

4.     Overpopulation

          v  Problem:  ​ Once human population exceeds the carrying capacity, we have reached an                        undesirable overpopulation condition as it creates a depletion in natural resources and a                        degradation of the environment, as well as a rise in unemployment and the equilibrium price                will change based on supply and demand.

Ø  Solution: Education – sex education and family planning, as well as information on efficient birth control.

5.     Sustainability

v  Problem: Resource scarcity in conjunction with an ever-growing population is still            proving to be a major unsolved global challenge that should require more attention.

Ø  Solution: Education is the best way to support and nurture a new generation of environmentally conscious citizens.

6.     Freshwater Crisis

v  Problem: As human populations grow, so will the problem of clean freshwater                  availability. One-fifth of the world’s population live in areas of water scarcity.

Ø  Solution: Improvements in the efficiency of water use and water conservation through better planning, management and technologies.

7.     Great Pacific Garbage Patch

v  Problem: We are increasingly filling our rivers, seas and oceans with toxic pollutants        (plastic). Moreover, once pollutants enter our ecosystems, they invariably pollute our         food.

Ø  Solution: In my Oceanography class last semester we discussed possible solutions, many which would take billions of dollars and many thousands of year.  It seems after all the research and discussions, regulations and pleading the only thing left is to persuade people to stop littering in the first place. We must close the gap – prevent any more plastic from reaching the oceans in the first place. Giving incentives to stop throwing this stuff away.

8.    ​Fiscal Crisis

v  Problem:​ A global financial meltdown would affect the livelihoods of everyone. In fact, the global financial bubble has burst. It reflects the greatest regulatory failure in history.

Ø  Solution: If I knew the solution to this problem, I would be rich! Most economists seem to agree that tax cuts do provide a stimulus to the economy. It provides more flexibility to those who want to save more or spend more, they can.

9.    ​Energy

v  Problem:​ In considering the US alone, we’ve caused earthquakes while fracking for natural gas, blasted tops off mountains, and while trying to turn non-renewable resources into energy; we have released toxic gases in to the atmosphere, driving climate change and creating a hazardous environment. 

Ø  Solution: Regulating fracking, mining, drilling and their ozone depleting emissions was a great start, but now we must find renewable resources – solar and wind power.

10.   ​Emerging Infectious Diseases                            

❖ Problem:  Emerging infectious diseases represent an ongoing global threat. New ​diseases have been identified or have re‐emerged while others have developed resistance to medication used to treat the disease.  

➢ Solution: I am not sure we can stamp out every disease, but we need to stay ahead of the next one. At best we can be aggressively vigilant, invest in ongoing research and use countermeasures such as vaccines, drugs and prompt diagnostics.

Reading Reflection Week 2

1)   What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

1)   Probably my biggest surprise came from almost the beginning of the book and seems to be a pretty simple concept, yet still a bit confusing. I had always considered the business owner’s entrepreneurs, and have never taken into account that these two may be different. Prior to the reading I understood there was a difference between a small business owner, as one who creates a business, and an entrepreneur as one who works on an innovative venture, yet I would still have considered them both entrepreneurs.

2)   Identify at least one part of the reading that was confusing to you.

1)   I would say the Approaches to Entrepreneur section would have been the most confusing. I understand the reading, but I would have to do a more in depth study of the two approaches – much like micro and macro evolution, or micro and macroeconomics. Real life examples in this section would have probably cleared up my less than clear understanding.

3)   If you were able to ask two questions to the author, what would you ask? Why?

Re: In the textbook, the author cited as one of the exceptional entrepreneurial activities in the United States was the fact that Americans are relatively alert to unexploited economic activity opportunity.

My first question is as follows:

                                          i.    Knowing that innovators, entrepreneurs and others who are pursuing their dreams of producing innovative, often life changing products or services, and has created more wealth and paid more taxes than any other country in the history of the world, how do you explain why it would seem as though progressives hate entrepreneurs and business owners.

1.    I ask this question because even the government programs they progressives love are funded by taxes imposed on the private sector.

In the insert on The Global Perspective, the author makes clear the cost of free trade -  small businesses are shutting down all across America. 

My second question would be:

                                        ii.    I would like to ask the author how can we resolve the economic problems we face in America that have arisen as a direct result of us opening our borders to neighboring countries in order to facilitate business transactions.

1.    This question is being asked because I would say free trade has destroyed our economy as we knew it. Free trade agreements are almost impossible to enforce and thus, true competition is impossible.  China, a communist country, now has the most billionaires (although they keep disappearing), as a result of free trade, yet to the detriment of ordinary citizens.

4)   Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

1)   Unfortunately, I am not an expert on entrepreneurship, so for me to critique the author on basically the introductory chapter of our textbook would be difficult. I could not find any errors based on other readings on business owners and entrepreneurs.