Chapter 6. Entrepreneurship and New Ventures
Chapter 6 Study Questions
What is entrepreneurship?
What is special about small business entrepreneurship?
How do entrepreneurs start and finance new ventures?
Learning From Others, Entrepreneurs Are Changing Our World
Chances are you are already heavily involved in what many are now calling the new "app economy." Those tiny programs that fuel our fun and productivity on smartphones and devices such as the iPad have already created an annual market exceeding $1 billion, and growing fast. The money is made selling the apps, selling products through the apps, and selling advertising space within the apps.
Among the app players that have made it big is Zynga, the brainchild of Marc Pincus.[352] Zynga's revenues jumped to $150+ million in just three years. Pincus is self-described as having one part the DNA of an entrepreneur and a second part the DNA of a competitive gamer. The company's mission is to connect the world through online games such as its wildly popular FarmVille. And the connection has been made; some 120 million people play Zynga games each day.
Like its apps, Zynga isn't the typical business. Perhaps it's the Google influence, or perhaps it's Pincus's instincts; or maybe it's both. His firm operates with a fun culture that is heavy on the creativity side and very light on the corporate control side. Chefs cook two meals a day for Zynga's employees—why waste time going out for food?
A masseuse is on staff—who needs stress? And then ...
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