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Entrepreneurship, 3rd Edition

Book Description

Entrepreneurship 3rd Edition combines concepts and cases while presenting the latest theories of entrepreneurship. The concepts cover what aspiring entrepreneurs need to know to start and grow their businesses and the cases tell the stories of real entrepreneurs. The authors cover all stages of the entrepreneurial process from searching for an opportunity to shaping it into a commercially attractive product or service, launching the new venture, and building it into a viable business. Through a combination of practical instruction and a range of real-life examples, Entrepreneurship helps prepare students for their future roles in building, managing and growing businesses.

Table of Contents

  1. Cover Page
  2. Title Page
  3. Copyright
  4. CONTENTS
  5. PREFACE
    1. New to this Edition
    2. Teaching Supplements
    3. Acknowledgments
  6. CHAPTER 1: THE POWER OF ENTREPRENEURSHIP
    1. Entrepreneurship and Small Business in the United States
    2. Causes of the Entrepreneurial Revolution
    3. Global Entrepreneurship Monitor
    4. Principal Findings from GEM
    5. 21st-Century Economies: Anglo-Saxon or Social Models?
  7. CHAPTER 2: THE ENTREPRENEURIAL PROCESS
    1. Critical Factors for Starting a New Enterprise
    2. Evaluating Opportunities for New Businesses
    3. Determining Resource Needs and Acquiring Resources
    4. Profit Potential
    5. Ingredients for a Successful New Business
  8. CHAPTER 3: OPPORTUNITY RECOGNITION, SHAPING, AND RESHAPING
    1. From Glimmer to Action: How Do I Come Up with a Good Idea?
    2. Is Your Idea an Opportunity?
    3. The Opportunity Checklist
    4. “I Don't Have an Opportunity”
  9. CHAPTER 4: UNDERSTANDING YOUR BUSINESS MODEL AND DEVELOPING YOUR STRATEGY
    1. The Business Model
    2. The First-Mover Myth
    3. Formulating a Winning Strategy
  10. CHAPTER 5: ENTREPRENEURIAL MARKETING
    1. Why Marketing Is Critical for Entrepreneurs
    2. Entrepreneurs Face Unique Marketing Challenges
    3. Acquiring Market Information
    4. Marketing Strategy for Entrepreneurs
    5. Guerrilla Marketing
    6. Marketing Skills for Managing Growth
  11. CHAPTER 6: BUILDING THE FOUNDING TEAM
    1. Power of the Team
    2. Where Do You Fit?
    3. How to Build a Powerful Team
    4. Bootstrapping: Building the Team Based on Stage-of-Venture Life
    5. Compensation
    6. External Team Members
    7. Keeping the Team Together
  12. CHAPTER 7: THE BUSINESS PLANNING PROCESS
    1. The Planning Process
    2. The Story Model
    3. The Business Plan
    4. Types of Plans
    5. Style Pointers for the Written Plan and Oral Presentation
  13. CHAPTER 8: BUILDING YOUR PRO-FORMA FINANCIAL STATEMENTS
    1. Common Mistakes
    2. Financial Statement Overview
    3. Building Your Pro-Forma Financial Statements
    4. Comparable Method
    5. Building Integrated Financial Statements
    6. Putting It All Together
  14. CHAPTER 9: FINANCING ENTREPRENEURIAL VENTURES WORLDWIDE
    1. Entrepreneurial Financing for the World's Poorest
    2. Entrepreneurs and Informal Investors
    3. Venture Capital
    4. Factors Affecting Availability of Financing
  15. CHAPTER 10: RAISING MONEY FOR STARTING AND GROWING BUSINESSES
    1. Jim Poss, BigBelly Solar
    2. Bootstrapping New Ventures
    3. Valuation
    4. Financing a New Venture
    5. Harvesting Investments
  16. CHAPTER 11: DEBT AND OTHER FORMS OF FINANCING
    1. Getting Access to Funds—Start with Internal Sources
    2. Cash Conversion Cycle
    3. Working Capital: Getting Cash from Receivables and Inventories
    4. Using Accounts Receivable as Working Capital
    5. Sources of Short-Term Cash: More Payables, Less Receivables
    6. Obtaining Bank Loans Through Accounts Receivable Financing
    7. Obtaining Loans against Inventory
    8. Obtaining “Financing” from Customer Prepayments
    9. Choosing the Right Mix of Short-Term Financing
    10. Traditional Bank Lending: Short-Term Bank Loans
    11. Equipment Financing
    12. Obtaining Early Financing from External Sources
    13. Planning Cash Flow and Planning Profits
  17. CHAPTER 12: LEGAL AND TAX ISSUES, INCLUDING INTELLECTUAL PROPERTY
    1. Why, When, and How to Choose an Attorney
    2. Leaving Your Present Position
    3. Intellectual Property
    4. Choice of Legal Form
    5. Choosing a Name
    6. Legal and Tax Issues in Hiring Employees
    7. Raising Money
  18. CHAPTER 13: ENTREPRENEURIAL GROWTH
    1. Making the Transition from Startup to Growth
    2. A Model of Driving Forces of Growth
    3. The Growth Process
    4. Execution
    5. Opportunity Domain
    6. Organizational Resources and Capabilities
    7. Leadership
  19. CHAPTER 14: SOCIAL ENTREPRENEURSHIP
    1. INTRODUCTION
    2. The Rise in Social Entrepreneurship
    3. SOCIAL ENTREPRENEURSHIP DEFINED
    4. A SOCIAL ENTREPRENEURSHIP TYPOLOGY
    5. Measuring Impact
  20. GLOSSARY
  21. INDEX