The logical reader can only conclude that had Mr. Du Pont been as devoted to the facts as Mr. Sloan alleges, he would have been paralyzed in indecisi… - Francis X. Sutton

In an interesting example of partial cognition, the authors of The American Business Creed present an analysis on the basis of selected materials. But what is the basis upon which the selection is made? They maintain that their material are representative of what American businessman think. Many of the quotations presented as American Business thought, however, are from professional writings. Others are from trade groups which represent only a small portion of the business community.

The key definitions for the entrepreneur seem to centre around the concept of responsibility. Responsibility implies individualism. It is not tolerable unless it embraces both credit for success' and blame for failures, and leaves the individual. free to claim or accept the consequences, whatever they may be.

Characteristically, the factors determining, the outcome of business efforts are numerous, and difficult both to assess and control. The sale of goods on a more or less free market is, of course, one major source of these difficulties; the disposition of buyers are subject to only limited control and prediction. They in turn are influenced by those diffuse but important factors which go under the label of general business conditions. Even within the context of a given firm there may be conditions and possible courses of action (such as personal appointments, or the performance of certain equipment) which may be beyond ready prediction and control. A great part of the efforts of entrepreneurs is directed towards minimising uncertainties.