Following is a statement in which a business owner attempts to explain and justify his preference for slow growth in his business:
I limit my growth pace and make every effort to service my present customers in the manner they deserve. I have some peer pressure to do otherwise by following the advice of experts – that is, to take on partners and debt to facilitate rapid growth in sales and market share. When tempted by such thoughts, I think about what I might gain. Perhaps I could make more money, but I would also expect a lot more problems. Also, I think it might interfere somewhat with my family relationships, which are very important to me.
1. Should this venture be regarded as entrepreneurial? Is the owner a true entrepreneur?
Answer: No this business is not an entrepreneurial and the owner is also not an entrepreneur because he do not have the personality characteristics of true entrepreneur of risk taker , dreamer and convincing power that he can convince his family.
Success of entrepreneur is measured from growth and this person is avoiding growth and slowing down his business.
2. Do you agree with the philosophy expressed here? Is the owner really doing what is best for his family?
Answer: Person is right to some extent but his philosophy is not logical that can attract and convince someone with this reason. Business not sees any family or peers interference in business. Social factors are not so much important for a business he is avoiding risk and giving the reason of his family that he can not take risk because of them.
3. What kinds of problems is this owner avoiding?
Answer: This person is avoiding many expected problems like:
Financial problems Fear of losing business
Debt Family pressure
Peers pressure Risk
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