Image credit: Twitter
As members of the modern society, we are
subjected to be heavily influenced by media, due to its widespread availability
and ease of access to the public. However, these may be exploited by profit-oriented people who
seeks view counts instead of spreading the truth. As a victim myself, I have
assumptions regarding the business field. Therefore, for this
post, I will discuss what I have debunked in an introductory textbook – Business and Management for the IB Diploma by Peter Stimpson and Alex Smith – for high
school students about my field.
As I browsed through the textbook, it tends to
cover more details regarding the processes about business management and less
on real life examples. For example, I thought about the misconception that
people need to be rich before they start their own business. This stereotype
must have risen from popular stories of entrepreneurs such as Bill Gates and Donald Trump while
the fact is that technology has allowed people to start-up with minimal cost or
crowdfunding. An example would be the company that made Eve V who has managed
to start production from crowdfunding. Although crowdfunding is not discussed
in the textbook which makes the list incomplete, other sources of finance that does not require people to be
rich initially are microfinancing, venture capitals and business angels (Cambridge).
Therefore, although the textbook does not directly state that not only rich
people get to start their own business, it provides information for people with
less money that there are sources of finance that has little prerequisites.
Image credit: Business Insider
However, there are some inaccurate points in
the textbook too. It is stated in the textbook that entrepreneurs ‘needed these
certain traits’ to make a success of a new business venture. However, entrepreneurs
‘have come in all shapes and sizes’ and that anyone can be an entrepreneur
whether you have these traits or not. For example, Steve Jobs
is known to be rude and unappreciative towards his employees which is not a
good leadership trait but he remains to be successful in his venture. The textbook is mistaken to have said ‘definite traits’ of entrepreneurs,
thus, not effective in delineating readers from misconceptions.
In conclusion, while textbooks provide
substantial knowledge about business operations, and information about orthodox
businesses, it does not exemplify specific details about the field and barely
discussed unconventional occurrences that does not apply to the statements they
have mentioned. Students, like myself, or other readers must keep in mind that textbooks about
business must only be used for preliminary understanding rather than real life occurrences
as bizarre events happen quite often in the business sector. We must also keep in mind that the media is sometimes not reliable as it tends to tell rare stories in some cases and also generalize at the same time while people exists in different parts of the spectrum.
by William Tjen
by William Tjen
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