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ENTREPRENEURISM
A Philosophy and A Sensible Alternative for the Market Economy
by Raymond W Y Kao (McMaster University, Canada), Kenneth R Kao (Memorial University of Newfoundland, Canada) & Rowland R Kao (Oxford University, UK)
What MBA Students Say about the Book
"I found the book interesting and especially found the study of entrepreneurism as an ideology unique and interesting. During review, I found opinions and topics that could introduce more discussion into the study of entrepreneurship. Two areas that I saw particularly intriguing are: 1) defining approaches to business as traditional or entrepreneurial, and 2) the introduction of law into defining entrepreneurship. These two topics bring further questions and consequently greater discussion."
"This book provides an excellent framework for discussion on economic policy. It presents a stark realization of overall economic impact to people who are traditional profiteers. For those who only see "the two silver dollars", this book provides a starting point for a bigger picture view."
"Entrepreneurism helps us to see flaws in the current system and provides an understanding of considerations that need to be made allowing us to make better decisions as individuals and as a community.
The ideology instilled by entrepreneurism helps us understand that there are gaps in the current system which we need to understand and close. Entrepreneurism an ideology that demonstrate that human proprietary decisions are made. While taking ownership on one hand and assume responsibility on the other."
"After reading this book, I realized how entrepreneurism is more a philosophy than a definition. You cannot be an entrepreneur if your only motivation is to make money. When I took this course, I thought that we were going to learn how to make profit and to learn how we can start a business up. I have learned all these in the Entrepreneurism course, but also realized that an entrepreneur shouldn't be selfish and if he/she wants to be an entrepreneur, she/he has to think, innovate, create for the common good as well as for his/her self-interest."
"Entrepreneurism is a good philosophy and sensible alternative for the
market economy, because it is sustainable for an infinite time. The market
economy and our pursuit of profit reminds me of a mouse in cage. Every night
this little mouse gets in his little wheel and runs all night long. Studies
have shown that they run on average 3 to 4 miles — quite a distance for such
a little guy. They consume a vast quantity of resources (food) in order to work
this hard. But where does it get them? In the morning, they are still in the
same cage! They have gotten nowhere and consumed much resources in the
process. For the average mouse this is okay though. Their owners fill their
good food bowls up every morning — they have infinite resources.
The pursuit of profit is a bit like the mouse. Hard work, consume resources — where does it end?
Although the mouse could rely on the continuing supply of its owner, the same
is not true for 'profit making' market economy, since we have only one Earth
and resources on Earth is limited.
Entrepreneurism advocates human beings are creative and innovative agents for
sustainable economic growth, it takes into account the replenishment of what's
been taken from nature and conserve the use of resources at the same time,
places the idea of recognizing unquantifiable costs made by human, and
nature's contribution to all human economic undertakings"
"Entrepreneurism is creating and innovating to create wealth and value
(common good). In a time when capitalism, in today's business activities are
taking more from the planet than putting back, and continuously under value
human contribution thus, making the rich richer, poor poorer, while
Entrepreneurism is a philosophy and alternative to ensure that innovation and
creation are for self-interest and common good for humanity through the
practice of accounting for total costs, rather than the current practice
concerns only costs are quantifiable working towards the incomplete cost
recognition, therefore, accounting profit."
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