Week 2 Reading Reflection

What I found was the biggest surprise for me while reading Chapter 1 was the fact that the GEM data showed 110 million people between 18 and 64 years old were actively engaged in starting a business (pg. 16).  I always believed that the common age for people to start businesses at was closer to the 30 to 50 age.  Reading that people as young as 18 and as old as 64 were starting businesses is surprising for me to see.

One concept that was confusing to me was the "Dynamic States Approach".  The way Figure 1.3 in the textbook depicts this concept does not make it easier for me to understand the meaning of the "Dynamic States Approach".

Question 1: Do you think that the reasoning for such a high percentage of entrepreneurial activity in America has to do with the societal believe and yearning for the American Dream?

Question 2:  Do you believe there will ever be a time when entrepreneurial firms will not be such a great source of American strength?

I would ask these questions because I believe that in the United States now, dating back to the beginning of the Industrial Revolution the economy has always been based on the strength and about of new companies that arise in the U.S.  I believe that this is so because we as a society in the U.S. wish for the American Dream; to be successful, to make a whole lot of money, and to make an impact in this country.

I disagree with the statement that "Most Entrepreneurial Initiatives Fail".  I believe that there are many entrepreneurs out there that succeed at their first attempt at starting a business.  I think that saying "most" is a pretty bold statement.  I don't entirely believe in the corridor principle either.  To say that during every new entrepreneurial venture that is launched there are new opportunities that come about that were unintended is a generalized statement.