Friday, 10 December 2010

The essential entrepreneurial dilemma (Part 1 of 4)

Whenever you move to a new job, chances are that you will have to spend the initial months clearing up the mess left behind by your predecessor. Resources are always limited, in particular time, and your new position might require you to make some tough decisions. Will you maintain the old routines or will you take the risk of antagonizing your colleagues and subordinates?

Entrepreneurs face the same dilemma everyday. Actually, the choice between proven systems and risky innovation has to be made by every person in business, often on the basis of incomplete information. When college students pick up their major subject of study, how many of them have a clear picture of the long-term consequences?

Around the year 70 B.C., Andronicus of Rhodes was elected head of the Lyceum, the school that had been founded by Aristotle in Athens two centuries before. After taking over his new responsibilities, Andronicus must have made an inventory of the assets and liabilities of the Lyceum and concluded that the school was in a sorry state.

To be continued in Part 2


[Image by mikebaird under Creative Commons Attribution License. See the license terms under]

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