Home > Articles

This chapter is from the book

1.20 Do Goals Differentiate?

We strongly question the fundamental assumption that the principal goals of an entrepreneurial venture are profitability and growth. We believe these may result from doing something else well and these are consequences of those goals being achieved. For some, wealth may be the primary goal, but not always. If wealth is the only goal, one is reminded of the response of the famous Jesse James of the Wild West of the United States in the 1800s when asked why he robbed banks, his answer being “that is where the money is.” We are not suggesting that bank robbery is entrepreneurial, but one can certainly think of it being easier than starting a company and waiting years for revenue or profits to arrive.

If profitability is the goal, this would leave quite a few firms considered entrepreneurial outside the category of entrepreneurial. Most Kirznerian entrepreneurs would be defined as small business owners. If we are to take these definitions and apply them into today’s world, we will have problems in defining Jack Dorsey, founder of Twitter as entrepreneurial (although many would certainly view him as one—and a successful one). Consider this quote from an article in Newsweek, October 20, 2008:

  • . . . consider that Twitter, a “micro-blogging” site launched in 2006, earlier this year raised a reported $15 million in venture funding at an undisclosed valuation—even though the company hasn’t made a dime so far and its managers aren’t trying to. “We’re pre-revenue. We’re focused on growth.”

Yet, we know that when this founder sold off Twitter, he became a billionaire. The goal was not apparently firm profitability, but to drive up valuation so that the owner could exit and create his own wealth, that is, personal profitability. Perhaps this is a legal form of bank robbery.

It should be obvious at this point that it is no easy exercise to define entrepreneurship or define an entrepreneur. It should also be clear that we highly question the requirement of economic wealth creation as the primary goal. For example, Johannisson (2005) has seen the entrepreneur as existentially motivated. That is, entrepreneurship is seen as a way of life, involving total commitment by the individual. Perhaps that would explain those entrepreneurs who start seven business ventures in a lifetime. This to our minds points at other possible goals and desires that are involved in entrepreneurship, as we pointed out in Carsrud and Brännback (2011). In other words, goals serve as an important part of entrepreneurial motivation.

1.20.1 A Mini-Case Example

For example of a motivated entrepreneur, let us look at one arts and social entrepreneur in Florida we know well, Patrick Dupre Quigley.

  • Patrick was trained as a classical musician at Notre Dame University and later at Yale University. He has worked closely with Michael Tilson Thomas the famous conductor. Interestingly, he also had worked at various marketing and public relations firms while in school and knew that there had to be a different way to make classical music accessible. He had a clear goal: to create a sustainable classical music group in the South Florida market. Miami, despite having a new and magnificent concert hall and state-of-the-art opera/ballet house, had seen many of its classical music groups struggle and/or fail like the Florida Philharmonic.
  • It became obvious to Patrick that the cost of such organizations including those of full-time musicians could not be maintained with the traditional model of concert revenues and donations. He also realized that younger audiences were not going to sit through classical concerts that were much over ninety minutes in length. He also knew that there were many excellent freelance musicians, especially singers, who he could bring in, pay them well for a given concert series and once the concert series was over they would return to their homes or go to their next gig. The result of his efforts has been one of the few profitable non-profit arts organizations in Florida, Seraphic Fire and its related orchestra (www.SeraphicFire.org).

We see this example as one where have a clear goal can motivate an entrepreneur, in this case a social entrepreneur in the arts arena. The point is that Patrick saw a need and had a goal to address that need. The result has been pure joy for those of us who have attended his concerts, or bought the CDs, or downloaded the music his groups have performed.

  • + Share This
  • 🔖 Save To Your Account

InformIT Promotional Mailings & Special Offers

I would like to receive exclusive offers and hear about products from InformIT and its family of brands. I can unsubscribe at any time.

Overview


Pearson Education, Inc., 221 River Street, Hoboken, New Jersey 07030, (Pearson) presents this site to provide information about products and services that can be purchased through this site.

This privacy notice provides an overview of our commitment to privacy and describes how we collect, protect, use and share personal information collected through this site. Please note that other Pearson websites and online products and services have their own separate privacy policies.

Collection and Use of Information


To conduct business and deliver products and services, Pearson collects and uses personal information in several ways in connection with this site, including:

Questions and Inquiries

For inquiries and questions, we collect the inquiry or question, together with name, contact details (email address, phone number and mailing address) and any other additional information voluntarily submitted to us through a Contact Us form or an email. We use this information to address the inquiry and respond to the question.

Online Store

For orders and purchases placed through our online store on this site, we collect order details, name, institution name and address (if applicable), email address, phone number, shipping and billing addresses, credit/debit card information, shipping options and any instructions. We use this information to complete transactions, fulfill orders, communicate with individuals placing orders or visiting the online store, and for related purposes.

Surveys

Pearson may offer opportunities to provide feedback or participate in surveys, including surveys evaluating Pearson products, services or sites. Participation is voluntary. Pearson collects information requested in the survey questions and uses the information to evaluate, support, maintain and improve products, services or sites, develop new products and services, conduct educational research and for other purposes specified in the survey.

Contests and Drawings

Occasionally, we may sponsor a contest or drawing. Participation is optional. Pearson collects name, contact information and other information specified on the entry form for the contest or drawing to conduct the contest or drawing. Pearson may collect additional personal information from the winners of a contest or drawing in order to award the prize and for tax reporting purposes, as required by law.

Newsletters

If you have elected to receive email newsletters or promotional mailings and special offers but want to unsubscribe, simply email information@informit.com.

Service Announcements

On rare occasions it is necessary to send out a strictly service related announcement. For instance, if our service is temporarily suspended for maintenance we might send users an email. Generally, users may not opt-out of these communications, though they can deactivate their account information. However, these communications are not promotional in nature.

Customer Service

We communicate with users on a regular basis to provide requested services and in regard to issues relating to their account we reply via email or phone in accordance with the users' wishes when a user submits their information through our Contact Us form.

Other Collection and Use of Information


Application and System Logs

Pearson automatically collects log data to help ensure the delivery, availability and security of this site. Log data may include technical information about how a user or visitor connected to this site, such as browser type, type of computer/device, operating system, internet service provider and IP address. We use this information for support purposes and to monitor the health of the site, identify problems, improve service, detect unauthorized access and fraudulent activity, prevent and respond to security incidents and appropriately scale computing resources.

Web Analytics

Pearson may use third party web trend analytical services, including Google Analytics, to collect visitor information, such as IP addresses, browser types, referring pages, pages visited and time spent on a particular site. While these analytical services collect and report information on an anonymous basis, they may use cookies to gather web trend information. The information gathered may enable Pearson (but not the third party web trend services) to link information with application and system log data. Pearson uses this information for system administration and to identify problems, improve service, detect unauthorized access and fraudulent activity, prevent and respond to security incidents, appropriately scale computing resources and otherwise support and deliver this site and its services.

Cookies and Related Technologies

This site uses cookies and similar technologies to personalize content, measure traffic patterns, control security, track use and access of information on this site, and provide interest-based messages and advertising. Users can manage and block the use of cookies through their browser. Disabling or blocking certain cookies may limit the functionality of this site.

Do Not Track

This site currently does not respond to Do Not Track signals.

Security


Pearson uses appropriate physical, administrative and technical security measures to protect personal information from unauthorized access, use and disclosure.

Children


This site is not directed to children under the age of 13.

Marketing


Pearson may send or direct marketing communications to users, provided that

  • Pearson will not use personal information collected or processed as a K-12 school service provider for the purpose of directed or targeted advertising.
  • Such marketing is consistent with applicable law and Pearson's legal obligations.
  • Pearson will not knowingly direct or send marketing communications to an individual who has expressed a preference not to receive marketing.
  • Where required by applicable law, express or implied consent to marketing exists and has not been withdrawn.

Pearson may provide personal information to a third party service provider on a restricted basis to provide marketing solely on behalf of Pearson or an affiliate or customer for whom Pearson is a service provider. Marketing preferences may be changed at any time.

Correcting/Updating Personal Information


If a user's personally identifiable information changes (such as your postal address or email address), we provide a way to correct or update that user's personal data provided to us. This can be done on the Account page. If a user no longer desires our service and desires to delete his or her account, please contact us at customer-service@informit.com and we will process the deletion of a user's account.

Choice/Opt-out


Users can always make an informed choice as to whether they should proceed with certain services offered by InformIT. If you choose to remove yourself from our mailing list(s) simply visit the following page and uncheck any communication you no longer want to receive: www.informit.com/u.aspx.

Sale of Personal Information


Pearson does not rent or sell personal information in exchange for any payment of money.

While Pearson does not sell personal information, as defined in Nevada law, Nevada residents may email a request for no sale of their personal information to NevadaDesignatedRequest@pearson.com.

Supplemental Privacy Statement for California Residents


California residents should read our Supplemental privacy statement for California residents in conjunction with this Privacy Notice. The Supplemental privacy statement for California residents explains Pearson's commitment to comply with California law and applies to personal information of California residents collected in connection with this site and the Services.

Sharing and Disclosure


Pearson may disclose personal information, as follows:

  • As required by law.
  • With the consent of the individual (or their parent, if the individual is a minor)
  • In response to a subpoena, court order or legal process, to the extent permitted or required by law
  • To protect the security and safety of individuals, data, assets and systems, consistent with applicable law
  • In connection the sale, joint venture or other transfer of some or all of its company or assets, subject to the provisions of this Privacy Notice
  • To investigate or address actual or suspected fraud or other illegal activities
  • To exercise its legal rights, including enforcement of the Terms of Use for this site or another contract
  • To affiliated Pearson companies and other companies and organizations who perform work for Pearson and are obligated to protect the privacy of personal information consistent with this Privacy Notice
  • To a school, organization, company or government agency, where Pearson collects or processes the personal information in a school setting or on behalf of such organization, company or government agency.

Links


This web site contains links to other sites. Please be aware that we are not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of each and every web site that collects Personal Information. This privacy statement applies solely to information collected by this web site.

Requests and Contact


Please contact us about this Privacy Notice or if you have any requests or questions relating to the privacy of your personal information.

Changes to this Privacy Notice


We may revise this Privacy Notice through an updated posting. We will identify the effective date of the revision in the posting. Often, updates are made to provide greater clarity or to comply with changes in regulatory requirements. If the updates involve material changes to the collection, protection, use or disclosure of Personal Information, Pearson will provide notice of the change through a conspicuous notice on this site or other appropriate way. Continued use of the site after the effective date of a posted revision evidences acceptance. Please contact us if you have questions or concerns about the Privacy Notice or any objection to any revisions.

Last Update: November 17, 2020