Week 12 Reading Reflection

1.     The biggest surprise in the reading for me was the complexity of strategic planning, specifically, the continuous feedback. Based on the reading, strategic planning seems to be a never-ending process that must be worked on tirelessly. Once the plan is completed you can start over in the process to better your plan.

2.     The part of the reading that was a bit confusing to me was the paragraph about the entrepreneurial strategy matrix model. The specific aspect that confused me was how something could be high risk and low innovation or low risk and high innovation. To me, risk and innovation should go hand in hand.

3.     My first question I would ask the author is, “Should an entrepreneur find a happy medium between an entrepreneurial mind-set and a managerial mind-set to become successful?” I would ask this because an entrepreneur could have the best idea but need help executing the idea but unable to manage people and the idea become unsuccessful. The second question I would ask the author is, “Is there a time table as to how long the first four steps of strategic plan should take?” I ask this just to get an idea of how long the process should take.

4.     Since I was so unfamiliar with the strategic planning process prior to reading the chapter there isn’t anything I could disagree with because I had no prior knowledge. For the most part the author was very descriptive as to what strategic planning was and what it entailed.