One part of this chapter that I really enjoyed reading about was the excerpt that included the innovation growth of the "Fab Four" which included Apple, Facebook, Google and Amazon. It was interesting and somewhat surprising to me to hear how each of these companies started. I didn't realize Facebook was originally created to rate the attractiveness of the female classmates of college guys at Harvard. I also thought it was surprising to see how some of the beginnings of these companies were rocky and yet they are widely known and successful today.
This chapter covered some of the very same material I covered last semester in my marketing and management courses. Due to this overlap in material I don't think that there was a concept in particular that was confusing to me.
One of the sections discussed the key factors during the growth stage a startup or business. Within this section is discussed the importance to tolerate failure as an entrepreneur. I understand failure is part of the gig but I also think that the desire to succeed is an extremely motivating factor to many entrepreneurs. So although willing to accept failure, is it acceptable to have the fear of failing simultaneously?
My second question is based off of stabilization stage in managing entrepreneurial growth. It states that this stage is a result of both market conditions and entrepreneurial effort, but how do you know when you have entered this stage? I would think it looks different for every company and is unpredictable for many markets, so how can entrepreneurs anticipate or focus on reaching this stage?
The author of this chapter provided the information in a clear and concise way with a lot of detail in order to support his statements. For that reason I don't think there is anything the author is wrong about within this chapter of the textbook.
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