From turmoil in domestic and international financial markets to mounting concerns for environmental issues, entrepreneurs are likely candidates for finding the very solutions that the world needs. The Case for Entrepreneurship, a panel discussion held at Boston College last night, pinpointed the benefits that entrepreneurs bring to these problems, as well as the importance of creativity and innovation in a rapidly changing marketplace.
Presented by the BC Entrepreneur Society, the panel consisted of Jack Hughes, BC '84, who is an entrepreneur with several successful business ventures, Harold Petersen, a professor in the economics department, Jessica R. Manganello, vice president of Exemplar Law Partners, LLC, and Michael J. Cermak, GA&S '13, who is a founding member of Real Food BC.
The discussion began with each of the panelists' thoughts on what it means to be an entrepreneur. Most importantly, Hughes said, an entrepreneur is someone who has an idea about how to do something better. Building off this description, Petersen said, "Entrepreneurs are people who have this vision of what could be, and make it happen." Further piggybacking on this response, Manganello called entrepreneurs people who, when confronted with a problem or challenge, makes the most of their resources to take advantage of an opportunity.
Perhaps the most telling definition, however, came from Cermak. For him, the word "radical" comes to mind when talking about entrepreneurship. Derived from the Latin word "radix," which means root, the word "radical" reminds Cermak that while entrepreneurs may have what others call radical ideas, they in fact are simply "working from their roots to make a change in the world."
Moving on, Hughes addressed the tension between risk and reward that entrepreneurs continually face. "There are two central themes here. What is the entrepreneur looking to achieve? What is the risk?" he said. For many entrepreneurs, Hughes said, the prospect of coming up with an idea that makes a difference in the world is the true reward, and it is self-fulfilling.
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