In continuation of Full Paper Part 1 review: About Entrepreunership astuteness. :

Readers, who are going for this thought provoking full paper, will be interested in their detailed findings of different character traits of their targeted sample. I shall leave you to go hunt for the full paper online, which will figure out the intricate details of their findings. In the meantime, I would like to humbly share my views after reading the full paper: Life, as with entrepreneurship, is about optimal risk taking. Once you've decided to take up the risk, its all about giving all unconditionally to your cause and belief in what needs to be done. The impending business climate or indeed in any kind of physical surroundings is actually the prime condition for various decision making to be executed. In fact, the current economic crisis is the best time to affect change. In Chinese, there is a this common saying that means 'the current times make a hero': Shi shi zao ying xiong.(时事造英雄) . There are different trying times that one needs to change and adapt. And the desired character set which is the very means to fit into different changing environments is exactly what this paper is looking at. The alertness, or rather in my terms 'astuteness', requires a keen sense for information and execution of ideas. Anyone who can identify the need for change and use found information and known circumstance will make an innovative move in both the process and the end product. After reading the paper, I also have to agree that Entrepreneurship is very difficult to teach. The best way of approach would have to be hands on and intuitive rather than starting straight from the books. I would be keen to learn how these courses are run as I am imagining how they work in reality. You've got to be very creative and fun about teaching such topics. As Prof Birgit Jevnaker of the Norway School of Management's Innovation Department has put it, 'Entrepreneurship is also about transforming or revitalizing existing businesses and seizing new opportunity for and with others.' The width and the depth of the discipline itself requires several abilities to master it well. In some ways,certain traits like motivation, determination and original creativity cannot be taught. The idea of seeing beyond is hard to teach, however the business tools are feasible to deliver.

Going back to the paper, we must remind ourselves that the paper objectives aim at:

-refining the definition of EA by case studies, in 2 main geographical areas, looking into the ability to identify such opportunities and the ability to exploit and make use of such information as opportunities for new ventures.

-what is such alertness/astuteness; and how does it derived from ?

-the main study focus on Austrian school of economics, behavourial and cognitive areas

All these make you ponder about the differences within the topics themselves : such as theories that support classical liberalism; the "invisible hand" that governs both business and many different political environments; and voices that have asked for a reduction in government intervention, and allow the market self-regulate et cetra. These form the various viewpoints to understand Entrepreneurial alertness (EA) The paper relates all 3 studies to understand how one sees and conceives an idea and explains how one approach and derive a method of approach to business ventures. The Austrian School of Economics portrays a liberalism of thought. Via behavioral studies, it involves the nosing into one's behavior in gathering information, relating to how and why one behave differently to various business decisions. The very ability to use given information how one is keen in gathering information source reveals how one acts and reacts upon such given information. And explains why certain people could filter our unimportant information /keep / exploit crucial aspects of the given information. Paper goes through concisely on Kaish and Gilad/ Busenitz/ Given plots and methods of thinking.

Personally, I think it is very complex and difficult to analyze in this manner. Even if we were able to map every point on the different character traits of a venturing mind, we should try to derive our own methodology or risk the high probability of churning out similar strategies or thinking methodologies. However what is good about this paper is to study how different people think. But it should not be read as a means of looking to be like Richard Branson, Bill Gates or Li Kai Shing. Its a matter of self-discovery from reading the paper. The method of plotting ones way in a business is almost uncanny and perhaps that is why in the Chinese sense, it is often said that politicians and business people are 'cunning' by nature. I often feel that intelligence could be used in a different way. What the paper may have approached is to see how businesses could be done in an ethical way. You can be really smart in getting what you do for profit making, but could you be genuinely kind as well ? It's probably my wishful thinking since that is not the nature of most people..

Their chosen case studies with samples taken from both the US and China, which are 2 large geographical regions bearing more than 30% of the world population. Within the masses, there are different sub-cultures, especially in China where there is no one Chinese but several types of Chinese. Each and every behavior and societal trends are different. And hence every method of tackling innovation and adaptation to businesses will be different. Some, as I am aware, do not follow a particular pattern. They are simply fast to morph and quick to change. The level of education does affect one's style of business - at least from a social class point of view. To sustain a venture, one has to able to mingle within the group. When I was reading this paper, I was hoping that the ethical aspects was added in as a main concern. We have too many unscrupulous businesses going on which we do not want. While neglecting ethical aspects will not exactly hinder the motivation to success; it does bring in a negative return in the long run. This would come in the form of unsustainable social, economic and natural environments that we cannot afford to have. All these play a profound impact on the type of social-economic environment that we are in. Further, I truly believe that for an enterprising climate, you need a free thinking society with a sideline sense of order to keep the society in harmony. But the sideline sense of order should not meddle with personal freedom of thought which is the essence of creativity. The paper comes in a timely fashion of what I think about creativity and entrepreneurship. One cannot expect the country to be enterprising without liberal thoughts. Neither can you grow creativity in a formulated way. As selfishness is part of the human nature, we have to come up with a way to confine evil and promote the good. To offer total liberalism is too idealistic and impractical. Neither can we clobber people down in an authoritarian manner. There must be an optimal way of balancing the two. This paper has chosen a good time to publish. We are all in this hot pot of boiling soup where few economies in the world can withstand its current turmoil. As more jobs are taken away, the venturing spirit is a more important means to survive. The character of the person has to be one of sheer astuteness -- the way one sees the surrounding environment and how one reacts to it. It is also the original source of change in new markets and new trends, industrious in looking for new information and be really good at thinking and inventing new ideas and processes. On top of that, an outstanding character of motivation and determination. In short, intelligence and holistical approach of thinking in a wide array of subjects and ideas would aid in situations where there is a shortage or an excess of information; where one would be reorganizing resources in order to gain profits. Skills, political powers, regulatory rules, prosperous economy and changes in societal trends all contribute to how new information is gathered. If you are as curious as me, you'll go hunt for the details of the research methods by contacting the authors of the paper. And just maybe you will also post some ideas here on this blog...
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