Week 4 Reading Reflection

Reading Reflection - Week 4 Chapter 5

For each reading reflection post, I ask you to address the following areas:

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? Opportunity identification was a part that I found interesting because it requires that you always be on the lookout. It is something that I didn’t know was part of the entrepreneur process and it is also something that can be difficult because you always have to be alert, watching out for the new trends and seeing how one can gain from it.

2) Identify at least one part of the reading that was confusing to you. In the section “Developing your Creativity” it asks you to work on “Recognizing Relationships” in this exercise you are supposed to visualize relationships in different ways among objects, tech, materials, etc. This exercise confused me because I had a bit of trouble because it was a little complicated and wish it had been simpler.

3) If you were able to ask two questions to the author, what would you ask? Why? I would ask why the innovation process wasn’t a larger part of this chapter, and if they did not think this part was as important as the rest of the material presented.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? I don’t think the author got anything and I did not disagree with what was said.

Top 5 World Problems

Top 5 World Problems:

1. Shortage of natural resources like water has impacted a lot of countries. 
2. Affordable health care has been a source of constant topic especially in these past few years; as time goes on the cost of health care increases. 
3. War have torn so many countries a part. A lot of these war have to do with religion or economic injustice or government control over their people being too strict.
4.  Economy regardless of what country you are from is always talked about. Economic instability is something that all countries fear. 
5. Crime in certain parts of the world keeps increasing and there are many factors that affect this.  

I picked shortage of natural resources as my top problem because certain resources cannot be easily reproduced and others would take centuries to reproduce.

Top 5 Solutions:

1. One way we can slow down this process is by educating people on conservation and look into new technology for recycling water and wastewater.   
2. I believe doctors and pharmacists should openly disclose what sort of kickback or incentive they get for recommending that product and also offer a cheaper alternative as well. There is also an increase in malpractice lawsuits and the amounts the plaintiffs and lawyers get for winning the case is really sometimes in the millions of dollars. Some kind of limit on awards should be looked into for these kinds of cases.
3. I don’t think enough is being done to ensure that big companies and corporations are more transparent in their dealings and that their needs to be stricter laws regarding this.
4. By having a stable economic growth, an increase in available programs for education you will see a decrease in crime.
5. This is not something that can be easily solved and have to be taken care of on a case by case basis. What we can do is provide support more support through the UN.

I picked education and development of new technology as my top choice because an educational program can be easily developed and introduced to as early as school age children. With regards to technology there are several annual programs out there that hand out prizes and awards to those who come up with advancements in technology regarding recycling and energy making this a more optimal choice.

Identifying Local Opportunities

Identifying Local Opportunities

“Wekiva Parkway's cashless tolls are Central Florida first”

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/15A7EB540F32B770?p=AWNB

The Central Florida Expressway Authority has just unveiled a new cashless toll road at Wekiva Parkway, the only way this particular toll will take payment is via a transponder on your vehicle and eventually electronic license plates. Consumers are balking at the idea of the cashless idea and having no option but to avoid that toll or pay a fine if you don’t have a transponder.

Disney bypassing courts with time-share foreclosures

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/15A7ABC1B901C3E8?p=AWNB

Disney became frustrated with the way the foreclosure system was working, the process was taking too long and was becoming costly. So they took a new approach in handling the situation by doing a trustee foreclosure or non-judicial foreclosure. Instead of going through the court systems the auctions are being held at lawyer’s offices representing Disney who handle the sale making this process faster and cheaper in the long run.

FADING ANTIQUE STORES SEEKING A NEW NICHE

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/15A7459C76155A28?p=AWNB

Antique stores are trying to find new ways to survive in the changing demographic and market. Younger consumers are less interested in owning vintage pieces and mass produced items that are less expensive are taking over the market. Some antiques dealers have found that repurposing some of the items that are of less value and giving it a face lift to represent what is selling today sells a lot faster and at a bigger price tag than some of its more expensive antique pieces.

Week 3 Reading Reflections

Reading Reflection – Chapter 2 Entrepreneurial Mind-Set in Individuals

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? In the reading this week it discusses entrepreneurial traits one of which is opportunity orientation. One of the traits that I found interesting and wasn’t really aware that a lot of entrepreneur’s had was a need of continuation of identifying opportunities and opportunity orientation. I always thought that once an entrepreneur discovered an idea, opportunity or niche that they stuck with it and didn’t look for anything else.
2. Identify at least one part of the reading that was confusing to you. The one confusing part about the reading was in “The Dark Side of Entrepreneurship” section where it lists the different types of risks and one called “Career Risk” I wish it had more information because it doesn’t really expand on why entrepreneurs would feel this way.
3. If you were able to ask two questions to the author, what would you ask? Why? One question I would ask is why on “The Dark Side of Entrepreneurship” for the list of risks it did not provide a more comprehensive explanation on certain risks and how to avoid them or at least suggest another resource the reader could go to learn more about these types of risks.
4. Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? Overall I found it to be a very interesting read and I did not find anything that I could disagree with the author on.