Week 12 Reading Reflection

I am repeatedly surprised with how much this class coincides with the rest of my schedule. A few weeks ago, in the week 10 reflection, I mentioned how most of the information was review from my financial accounting class. In this case, this week’s section on strategic planning was also review from my management class. Therefore, there were no surprises to me in the reading. One thing that confused me was how most entrepreneurs’ planning for their ventures is informal and unsystematic. Obviously, I knew this was a trend but sometimes I’m just baffled on how incomprehensive and careful some companies can be when it comes to planning. Kodak and Blockbuster come to mind. Anyways, if I could ask the author two questions it would be how to minimize uncertainty in early stages of a business and how to make up for lack of experience. These questions have perplexed me all semester as I look forward in my entrepreneurial journey. I did not think the author was wrong about anything but I do think hierarchy is of some importance when establishing a new business.