Reflections on Entrepreneurship Learning Journey

Running head: ENTREPRENEURSHIP 1
MGMT13151: Entrepreneurship, Innovation and New Ventures
Term 2, 2017
Assessment 3: Reflections on Learning Journey
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ENTREPRENEURSHIP 2
Reflections on Learning Journey
There are different theories of learning that have been postulated, which influence the
way people learn. One theory that has been posited is the constructivism, which states that
learners construct knowledge through mental reorganization when interacting with the
environment. Entrepreneurs play a pivotal role as drivers of the economy globally. In this course
on entrepreneurial theories, I feel that I have used this approach in order to make sense of the
different approaches that have been set forth. The Gibb’s model of reflection is an important tool
in reflecting on the learning journey. I use it as the primary tool in order to present my reflections
during this course.
Stage one: Description
During this course, I was surprised to discover that the concept of entrepreneurism has
many varied theories that seek to explain it. It was presented as a distinct concept worthy of
scholarly discourse and this was an eye opener to me. I had always assumed that an entrepreneur
is someone with qualities that are arcane and which have no scientific explanation. The various
theories dispelled this notion that I had always believed to be true. I was able to identify with the
Risk Bearing theory, since I had always assumed entrepreneurs to be risk takers. The different
theories that were discussed helped to broaden my understanding of economic activity within the
parameters of being an entrepreneur.
Stage two: Feelings
The different theories have changed the way I feel about the different theories that have
been set. Entrepreneurs are one of the main factors that drive economic activity and are presented
as concept that is distinct. Peter Drucker’s theory states that new values are generated according
to his postulation (Nikolowski, 2016). I thought that was a positive outcome, since most
entrepreneurs are portrayed as being amoral and without ethical values. I felt this was beneficial

Running head: ENTREPRENEURSHIP 3
as it gave the human face to entrepreneurs apart from material gain. At the same time, I was
anxious to learn more in terms of wanting to relate real entrepreneurs to each theory. I felt that
this was not effectively done and this remains as a gap which I need do further studies.
Stage three: Evaluation
My evaluation in different group discussions is that most of the other students did not see
the possibility of becoming entrepreneurs in the future. The discussions took on a purely
theoretic approach with few or no references to real world situations. There was little effort made
in linking the different theories to different enterprises or entrepreneurs. This gave me cause for
concern as the topic did not have the depth of academic exchange necessary for future real life
application. Most students felt that despite all the body of knowledge presented, entrepreneurs
are made and not taught. Their take was that one is born with a special ability which cannot be
taught within the classroom context.
Stage four: Analysis. The different theories that have been set out are improvements on
the early postulations: Jean-Baptise Say improved on the approach taken by Richard Cantillon
(Brown & Christopher, 2013). Each theorist propounded on one aspect that aims to build the
overall body knowledge on entrepreneurism. This is effective in sealing the knowledge gaps and
holistically makes the topic complete. Frank Knight focuses on taking risks while Max Weber
narrows down to the immediate society as the main factor of driving entrepreneurism (Foss, Foss
& Klein, 2007). Mark Casson posits that economic conditions which are conducive are the main
promoter of entrepreneurism (Acs & Audretsch, 2010). Thus the different theories are not
competing but complementary in nature and this is helpful in gaining competency in this course
unit.
Stage five: Conclusion. One thing that I feel was not given enough time for discussion is
where entrepreneurs do not fit any theory that has been set forth. The approach that was taken
was where the theory is set forth as the donkey pulling the cart. The theory comes first to justify