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Advanced Introduction to Entrepreneurship

Book Description

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world’s leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. Renowned entrepreneurship scholar Robert D. Hisrich provides insights into the venture creation process, as well as the entrepreneur as a person. He outlines the characteristics, motivations and decision making processes of the entrepreneur in different settings (including businesses, government organizations and non-profits/social enterprises) to provide a comprehensive understanding of the individual who creates a new venture. Key features include: • Insights into how creativity and innovation provide a base for developing an idea • A history of the development of entrepreneurship and the changing nature of the entrepreneur • A focus on important aspects of a business plan • Unique perspectives from corporate executives, entrepreneurs and small business managers • Ideas on building a lasting company and/or ending the venture. Offering a concise, accessible and timely introduction to entrepreneurship, this thoughtful book will prove a valuable supplement to advanced students as well as practitioners of entrepreneurship and anyone interested in the field.

Table of Contents

  1. Preface
  2. Part I Overview of the Entrepreneur
    1. 1 Entrepreneurship: a historical perspective
      1. Scenario: Tim and Karrie League – Alamo Drafthouse
      2. Introduction
      3. Entrepreneurship and economic development
      4. Entrepreneurship through the ages
      5. Definitions of the entrepreneur
      6. Examples of entrepreneurial leadership
      7. The nature of entrepreneurship
      8. Summary
    2. 2 The entrepreneur and entrepreneurial decision making
      1. Scenario: Kathy Giusti – Multiple Myeloma Research Foundation
      2. Introduction
      3. Aspects of being an entrepreneur
      4. Acting entrepreneurially
      5. Entrepreneurial decision process
      6. Possibility of new venture formation
      7. Background and characteristics
      8. The entrepreneurial process
      9. Types of enterprises
      10. Summary
    3. 3 Corporate, government and social entrepreneurship
      1. Scenario: Ken Kutaragi – Sony Corporation/Sony PlayStation
      2. Introduction
      3. Managerial versus entrepreneurial decision making
      4. Corporate entrepreneurship
      5. Leadership characteristics
      6. Aspects of corporate entrepreneurship
      7. Implementing a corporate entrepreneurship program
      8. Benefits of a corporate entrepreneurship program
      9. Governpreneurship: entrepreneurship in government
      10. Social entrepreneurship
      11. Summary
  3. Part II Innovation and the Idea
    1. 4 Creativity and innovation
      1. Scenario: Gabor and Andras Forgacs – Modern Meadow
      2. Introduction
      3. Creativity
      4. The creative process
      5. Creative problem-solving techniques
      6. Creativity and innovation
      7. Innovation
      8. Characterizations of innovation
      9. Phases of innovation
      10. Summary
    2. 5 Identifying opportunity
      1. Scenario: Kevin Knight – Knight Solutions
      2. Introduction
      3. Opportunity recognition
      4. Trend analysis
      5. Demographic analysis
      6. Gap analysis
      7. Sources of new ideas
      8. Methods of generating ideas
      9. New emerging industries
      10. Opportunity assessment plan
      11. Summary
    3. 6 Creating and protecting the business idea
      1. Scenario: Phanindra Sama – redBus
      2. Introduction
      3. Creativity
      4. Design thinking
      5. Classification of new products
      6. Product planning and development process
      7. Developing the business concept
      8. Protecting the idea
      9. Summary
  4. Part III The Business Plan
    1. 7 The business plan
      1. Scenario: Sophia Amoruso – Nasty Gal
      2. Introduction
      3. Purposes of a business plan
      4. Benefits of a business plan
      5. Elements of the business plan
      6. Business plan development and update
      7. Summary
    2. 8 The marketing plan
      1. Scenario: Claire Boonstra, Maarten Lens-FitzGerald and Raimo van der Klein – Layar
      2. Introduction
      3. Requirements for an effective plan
      4. Understanding and selecting the target market
      5. The marketing plan
      6. Forecasting sales
      7. Summary
    3. 9 The financial plan
      1. Scenario: Clayton Christopher and David Smith – Sweet Leaf Tea
      2. Introduction 179
      3. The financial plan
      4. Sources and uses of fund statement
      5. Pro forma income statements
      6. Pro forma cash flow statement
      7. Pro forma balance sheet
      8. Software
      9. Summary
    4. 10 The organizational plan
      1. Scenario: Gilad Japhet – MyHeritage
      2. Introduction
      3. Developing the organizational plan
      4. Selecting a legal form
      5. Legal forms of organization
      6. Organizational structure and operations
      7. Summary
  5. Part IV The Venture
    1. 11 Obtaining capital and other resources
      1. Scenario: Kelly Flatley and Brendan Synnott – Bear Naked
      2. Introduction
      3. Sources of financing
      4. Obtaining other resources
      5. Summary
    2. 12 Launching the venture
      1. Scenario: Chase Adam – Watsi
      2. Introduction 220
      3. Situation analysis
      4. Adoption process
      5. Concept of newness
      6. Market positioning
      7. Strategies for launch
      8. First mover advantage
      9. Develop a contingency plan
      10. Summary
    3. 13 Growing the venture
      1. Scenario: Father Greg Boyle – Homeboy Industries
      2. Introduction
      3. Identifying core capabilities
      4. Benchmarking
      5. Growth cycle of the venture
      6. Characteristics of fast-growing ventures
      7. Management actions enabling growth
      8. Growth strategies
      9. Methods for growing a venture
      10. Summary
    4. 14 Building a lasting company and ending the venture
      1. Scenario: Alexis Ohanian and Steve Huffman – Reddit
      2. Introduction
      3. Building a sustainable venture
      4. Valuing the venture
      5. Managing the downside
      6. Mergers
      7. Selling the business
      8. Closing the doors
      9. Bankruptcy
      10. Summary
  6. Index