Walden University Main Pros and Cons of Being an Entrepreneur Discussion

Final Course Reflection

This week, you have reflected on the theories, concepts, and strategies presented in this course while developing your Final Course Reflection paper.

Having looked at entrepreneurship from several different approaches, you have likely developed a sense for whether being an entrepreneur is of interest to you. As you reflect on what you have learned in the last six weeks, consider discussion postings, course readings, and the applications you have completed when responding to the following prompts:

• Describe how your perspective has changed related to entrepreneurship.
• What do you think are the main pros and cons of being an entrepreneur?
• How can you use the entrepreneurial process to improve either your current work, educational, or community environment?

  Summarize these reflections in a 350 or more word response paper. Make sure to address ALL THREE BULLET POINTS and use APA format.

Reading

• Course Text: Hisrich, R.D., Peters, M.P., & Shepherd, D.A. (2020). Entrepreneurship (11th ed.). New York: McGraw-Hill Irwin.

Chapter 15, “Succession Planning and Strategies for Harvesting and Ending the Venture”

In this chapter, you will learn about the various methods for exiting the business venture. You will examine the bankruptcy process, including an analysis of the three bankruptcy alternatives. You will explore the importance of developing an exit strategy or a succession plan. Finally, you will cover the details involved with the sale of the business to employees or other external sources.

Focus on the definitions provided throughout the chapter. Review and think about the examples and anecdotes provided in the chapter that illustrate the major ideas being conveyed. Consider the last time you heard information regarding a business that was filing for bankruptcy. Do you remember what chapter of bankruptcy the organization was filing under? Does bankruptcy mean that a business has to completely cease operations?