68. Which overall goal should an entrepreneur strive for during the process of moving from inception to implementation of the business plan for a new venture?
Answer: D
Build an organization that can effectively put into action the entrepreneurial idea
An entrepreneur should strive to build an organization that can effectively implement their entrepreneurial idea. This goal is crucial as it directly relates to the successful transition from planning to execution, enabling the entrepreneur to realize their vision in a practical manner.
A) Build a system of contingency plans that anticipate every obstacle and its solution
While having contingency plans is important for addressing potential challenges, focusing solely on anticipating obstacles may divert attention from the primary goal of executing the business plan. This approach does not inherently support the effective implementation of the entrepreneurial idea, making it less suitable as the overall goal.
B) Build a leadership team that will remain loyal to the entrepreneur in all situations
Loyalty in a leadership team is beneficial, but it does not guarantee the successful implementation of the business plan. The primary focus should be on building a team with diverse skills and the capability to execute the entrepreneurial vision effectively, rather than on loyalty alone.
C) Build a structure that emphasizes personal satisfaction over compliance with abstract policies
While personal satisfaction within an organization is valuable, prioritizing it over adherence to necessary policies can lead to chaos and inefficiency. Effective implementation of an entrepreneurial idea requires a balanced approach that includes compliance with essential frameworks, rather than focusing solely on personal satisfaction.
D) Build an organization that can effectively put into action the entrepreneurial idea
This option encapsulates the essential goal for an entrepreneur during the transition from inception to implementation. It emphasizes the need for a structured organization that can translate ideas into reality, ensuring the business plan is executed successfully.
Conclusion
The definitive goal for an entrepreneur is to build an organization that can effectively implement their entrepreneurial ideas, as reflected in option D. Other options, while they may contain elements of value, do not address the core requirement of executing the business plan. Thus, focusing on creating a capable and action-oriented organization is essential for the success of a new venture.