Pragmatic policy making refers to policy makers making decisions based on real incidents and practicality of an idea rather than relying upon theories or ideologies. The basic aim of entrepreneurial policy makers is to encourage more people to take risks and start businesses. If people believe in the experience of these policy makers there could be several benefits for the entire system. Entrepreneurial policy makers are going to better understand the business scenarios compared to people who just create policies without having any first-hand knowledge. Consequently, the policies are going to be effective and up-to-date. The experience of entrepreneurial policy makers is going to be of great importance, since they can apply practical knowledge. Furthermore, these policy makers can emphasize the role of entrepreneurs in job creation which leads to an entrepreneurial culture amongst the public. The greatest benefit pragmatism can bring to public policy research is that it is adjustable to changes and entrepreneurial policy makers are going to understand the importance of adjusting to changes and the drawbacks of becoming stagnant.
With the fast pace at which newer companies are emerging there is a vital need for entrepreneurs to adapt to the changing trends in the industry. People are now more willing to accept differing viewpoints and are willing to take on new challenges and experiences to broaden their horizons and enhance their skills. The last twenty years, have experienced globalization and a boom in technology. Both of these combined bring about a dire need for people to be more pragmatic. Moreover, companies have had to make changes in order to keep up with those in their eco-systems which includes; suppliers, competitors, and customers. Hence, pragmatic practices have evolved over the years and these need to be reviewed as times change.
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(2013). Pragmatic Pathways. Deloitte University Press, 1. Retrieved December 2, 2013, from http://cdn.dupress.com/wp-content/uploads/2013/03/DUP208_PragmaticPathways.pdf?4c86a4