Week 5 Journal

1.     What are the connections between the disciplines addressing entrepreneurship at ODU?

            Old Dominion University fosters an environment where entrepreneurship transcends traditional boundaries. Students are taught that any idea can be translated into an entrepreneurial endeavor, regardless of background or profession. ODU provides guidelines that entrepreneurs from all disciplines can apply to their start up, such as effectively prototyping/validating the idea, budget planning, developing a pitch, and expected stages of company growth to follow. Furthermore, the Strome Entrepreneurial Center provides a place to connect people from various fields such as business, engineering, computer science, and the arts. The various resources and programs offered at the Strome Center equip students with a diverse skill set that prepares them for the multifaceted challenges of the business world.

2.     Is entrepreneurship an art or science?

            Entrepreneurship is neither an art nor a science. While entrepreneurial endeavors can stem from an idea linked to art of science, entrepreneurs will need to apply principles of both disciplines to best succeed. Entrepreneurs must be artistic in that they are able to develop unique and creative ideas to create a successful startup. Once the idea is formed, they must also follow systematic processes and principles, such as business planning, market analysis, and financial modeling to develop the plain it its entirety. These processes often involve research, analysis, and evidence-based decision making, which are all often used in science.  

3.     How is failure good?

            Failure can be a valuable teaching tool not only in entrepreneurship, but also in life. When things don’t go as planned, we are able to analyze the outcome to identify what caused the failure and why. Failure also breeds innovation, as once the reason for failure is identified it is up to the person to develop a new way to solve the problem. Failure can also develop strong characteristics in a person, such as humility, resilience, and courage. Embracing failure may be difficult at first, but the learning experiences that come from it are a major key to success.

4.     What have I learned from failing?

            A major example of how I have embraced failure is my return to school. My first attempt at college was many years ago.  My outlook on life was very different and school was in no way a priority, which ultimately led to me failing and dropping out. Despite knowing I did not give it my all, I developed the mindset that school wasn’t for me, and I am not able to be successful at school. I carried those thoughts for over a decade, scared to return to college despite wanting to. I finally decided that I would no longer be led by the fear of failure. I analyzed everything that went wrong, why it may have happened, and how I could improve this go around. My turning my failure into a ‘lessons learned’, I am now in my last semester before graduating with honors.

5.     What ethical issues might arise related to what I am working on?

            There are several ethical issues that could arise should I decide to pursue business in my current field of cybersecurity. While legitimate businesses will use cyber tools for defensive measures, they are often also capable of being used offensively. Cyber business should always establish agreed upon and ethical boundaries when it comes to protecting networks. Additionally, if a tool that a cyber entrepreneur develops has the potential to be used in a harmful way, they may be faced with an ethical dilemma of selling it or releasing it to the public.  Finally, many cyber businesses are employed to protect sensitive data. These companies must uphold standards that comply with various federal organizations to ensure this data doesn’t get into the wrong hands.

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