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Prior To Beginning Work On This Discussion Forum Readentrepreneurs In

Prior to beginning work on this discussion forum, read Entrepreneurs in the Age of Covid: Q&A With America’s Leading Startup Thinker, Carl Schramm Links to an external site. . Carl Schramm is America’s leading startup thinker, and the author of numerous op-ed pieces in the Wall Street Journal and Foreign Affairs . He has authored many books, including his most recent, Burn the Business Plan . Carl is the former president of Ewing Marion Kauffman Foundation, the country’s leading philanthropic group studying entrepreneurship. Today, Carl is a professor at Syracuse University (Karlgaard, 2020a).

Carl Schramm is America’s leading startup thinker, and the author of numerous op-ed pieces in the Wall Street Journal and Foreign Affairs . He has authored many books, including his most recent, Burn the Business Plan . Carl is the former president of Ewing Marion Kauffman Foundation, the country’s leading philanthropic group studying entrepreneurship. Today, Carl is a professor at Syracuse University (Karlgaard, 2020a). First, read the entire discussion before you begin.

Next, read Chapters 1, 2, 3, and 4 in the Dhandho Investor : The Low-Risk Value Method to High Returns text. Finally, read the interview with Carl Schramm, Entrepreneurs in the Age of Covid: Q&A With America’s Leading Startup Thinker, Carl Schramm Links to an external site. , and answer the following questions: Carl Schramm introduces the concept of an “accidental entrepreneur.†Which variables impact this phenomenon? Rich Karlgaard asked Carl Schramm why entrepreneurship and small business growth is so important to the health of an economy. Based on the answer Schramm provided and one more outside source, please address Karlgaard’s question. What is “blitz scale†thinking and what are some of the faults of this view?

Schramm advocates “burning the business plan†in his lectures. Why do you think he describes it that way? In addition, both Karlgaard and Schramm advocate abandonment of the conventional approach to education based on testing and Ivy League schooling, which hinders instead of promotes entrepreneurial spirit. What is your opinion of Schramm’s uncommon approach? Finally, how have your readings in your textbook the Dhandho Investor influenced how you critique the information in the interview?

Guided Response: Your initial response should be a minimum of 200 words. Graduate school students learn to assess the perspectives of several scholars. Support your response with at least two scholarly or credible resources in addition to the text. The Scholarly, Peer-Reviewed, and Other Credible Sources Links to an external site. table offers additional guidance on appropriate source types. Use at least one outside article on the featured CEO in addition to the provided material.

Paper For Above instruction

The discussion surrounding entrepreneurship, especially during the tumultuous period of the COVID-19 pandemic, highlights the importance of innovative thinking, adaptability, and unconventional strategies. Carl Schramm, a prominent figure in the field of startup analysis and entrepreneurship, introduces the concept of the “accidental entrepreneur,” which refers to individuals who start businesses not out of deliberate planning but due to circumstances or opportunities that unexpectedly arise. Several variables impact this phenomenon, including economic necessity, technological change, and socio-cultural factors that create conducive environments for spontaneous entrepreneurship. For instance, the economic distress caused by the pandemic encouraged many to pursue entrepreneurial endeavors they might not have previously considered, exemplifying the accidental entrepreneur’s emergence during crises (Pauwels & Klier, 2020).

Addressing Karlgaard’s question about the significance of small business growth, Schramm emphasizes its role in economic vitality by fostering innovation, providing employment, and stimulating competition. An outside source, such as Haltiwanger et al. (2013), further underscores that small firms are crucial drivers of productivity and innovation, especially during economic recoveries. These firms often operate with greater flexibility and can adapt rapidly to market changes, making their growth essential for overall economic health.

The concept of “blitz scale,” popularized by Mark Zuckerberg and Facebook, refers to aggressive expansion strategies aimed at rapidly capturing market share. While this approach can lead to dominant market positions, it also bears faults such as unsustainable growth, ignoring long-term profitability, and potential overextension, which may result in business failures or market monopolies (Rogers, 2018).

Schramm’s advocacy of “burning the business plan” signifies a rejection of rigid, traditional business planning methods in favor of adaptive, iterative processes that respond to real-time market feedback. This approach encourages entrepreneurs to remain flexible and responsive, recognizing that initial assumptions often need adjustments as circumstances evolve. It also emphasizes action over excessive planning, fostering a culture of experimentation and resilience.

Both Karlgaard and Schramm critique conventional educational models that prioritize testing and prestigious institutions, arguing that such systems inhibit entrepreneurial creativity and risk-taking. In my opinion, this critique is valid because education should foster critical thinking, problem-solving, and innovative skills rather than rote memorization or solely academic achievement. Schramm’s approach, favoring practical experience and entrepreneurial mindset development over traditional credentials, aligns with the need to cultivate a more dynamic and adaptable workforce.

The insights from the Dhandho Investor, which emphasize value investing, risk mitigation, and contrarian thinking, have influenced my critique of the interview by highlighting the importance of prudent decision-making and long-term perspectives. While entrepreneurial ventures often emphasize rapid growth, integrating value-oriented principles can enhance sustainability and resilience in business strategies (Munger & Buffett, 1994). Therefore, combining Schramm’s innovative approaches with prudent financial practices leads to more balanced and sustainable entrepreneurial success.

References

• Haltiwanger, J., Jarmin, R. S., & Miranda, J. (2013). Who creates jobs? Small vs. large vs. young. Review of Economics and Statistics, 95(2), 347-361.
• Munger, D., & Buffett, W. E. (1994). The Essays of Warren Buffett: Lessons for Corporate America. The Cunningham Group.
• Pauwels, N., & Klier, J. (2020). COVID-19 and the acceleration of digital entrepreneurship. Journal of Business Venturing Insights, 13, e00175.
• Rogers, D. (2018). The Faults of Blitzscaling: Speed versus Sustainability. Harvard Business Review.
• Schramm, C. (2020). Burn the Business Plan. Entrepreneur Press.
• Karlgaard, R. (2020a). Entrepreneurs in the Age of Covid: Q&A With America’s Leading Startup Thinker. Forbes.